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Magnum Wallet – Bitcoin, Ethereum, Crypto Exchange

latest release: 1.0.12 ( 29th August 2019 ) last analysed  19th August 2021 Not updated in a long time 
3.3 ★★★★★
227 ratings
10 thousand
23rd April 2019

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Do your own research!

Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.

If you find something we should include, you can create an issue or edit this analysis yourself and create a merge request for your changes.

The Analysis 

In the app’s description we read:

Simple & Secure Interface Stay on top of your portfolio with intuitive navigation anytime, anywhere. With security & anonymity as our top priorities, we provide a fully non-custodial service, meaning that users have full control of their private keys and other personal information.

So this wallet claims to be non-custodial but can we find its source code? Neither on Google Play nor on their website do we find a word about this product’s source code. Its properties thus are not verifiable.


Verdict Explained

This product did not get updated in over two years.

As part of our Methodology, we ask:

Was the product updated during the last two years? If not, we tag it Obsolete! 

Bitcoin wallets are complex products and Bitcoin is a new, advancing technolgy. Projects that don’t get updated in a long time are probably not well maintained. It is questionable if the provider even has staff at hands that is familiar with the product, should issues arise.

This verdict may not get applied if the provider is active and expresses good reasons for not updating the product.