Moneybrain Financial SuperAppGoogle Play
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
Moneybrain is the first global App to provide access to a full reserve Peer to Peer digital loans and mortgage platform; FCA regulated JustUs. In addition, the Moneybrain App also provides access to the world’s first global equity crowdfunding platform Koodoo.
As an FCA regulated business, Moneybrain has integrated tried and tested identity and money laundering tools to power a global asset backed Peer to Peer digital currency BiPS. BiPS can be stored within the Moneybrain wallet and App, spent and exchanged globally alongside local fiat currencies such as Sterling (GBP), Euro (EUR), US Dollars (USD).
From the General Terms and Conditions:
(e) We may disable your account at any time in our sole discretion without notice or explanation.
We tried the app and registered. It required both email and mobile verification.
While the app features a Personal Account and a Business Account, it is mandatory to complete identity verification first.
Users are redirected to a KYC application online.
We found a tab for Digital Assets and found it was possible to withdraw and deposit BTC. However, before you are given access to these features, you must first complete the KYC verification.
We conclude that this is a custodial app and as such, 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.