Our wallet review process
We examine wallets starting at the code level and continue all the way up to the finished app that lives on your device. Provided below is an outline of each of these steps along with security tips for you and general test results.
Application build test result
As a payment app, it’s almost certain that fiat and cryptocurrencies will be held in custody by a third party.
There’s also a use of identity verification which is usually a trait of custodial products.
From the FAQ:
As a regulated Financial Institution (e-money), we are obliged to identify our customers before offering certain services. A basic set of services and up to a sensible overall spending limit is available to all customer right after registration. Services such as sending money to other MuchBetter accounts, applying for a free, contactless Mastercard® or withdrawing money from your MuchBetter account require us to verify and validate your identity.
Verdict: This app is custodial and therefore not verifiable.
Tests performed by Daniel Andrei R. Garcia
Do your own research
In addition to reading our analysis, it is important to do your own checks. Before transferring any bitcoin to your wallet, look up reviews for the wallet you want to use. They should be easy to find. If they aren't, that itself is a reason to be extra careful.