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PayPlux - Buy & Sell Bitcoin

latest release: 1.1.76 ( 22nd October 2021 ) last analysed  24th October 2021 Not a wallet 
3.7 ★★★★★
278 ratings
10 thousand

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Help spread awareness for build reproducibility

Please help us spread the word discussing build reproducibility with PayPlux - Buy & Sell Bitcoin  via their Twitter!

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 

App Description

Buy bitcoin, perfect money, ethereum or litecoin with mobile money. PayPlux also allows you to sell your bitcoin, litecoin, ethereum or perfect money to get back GHS.

There is no mention of being able to transfer bitcoin to other services, wallets or apps. We will confirm this with their support.

The Site

Deposits and payment options are made through:

  • MTN Mobile Money
  • AirtelTigo Money
  • Vodafone Cash

Terms and Conditions

We may also wish to stop providing the app, and may terminate use of it at any time without giving notice of termination to you. Unless we tell you otherwise, upon any termination,

Contact

We contacted PayPlux via twitter and via their online webchat support. They confirmed that when users buy or sell bitcoin, a third party wallet is needed since they do not provide the wallets themselves.

Verdict

Similar to Forex apps that allow cryptocurrency trading via CFDs, PayPlux does not provide the bitcoin wallet and therefore, does not actually hold your assets.

(dg)

Verdict Explained

This appears to not be a product to receive and send money.

As part of our Methodology, we ask:

Is it a wallet? If not, we tag it No Wallet 

If it’s called “wallet” but is actually only a portfolio tracker, we don’t look any deeper, assuming it is not meant to control funds. What has no funds, can’t lose your coins. It might still leak your financial history!

If you can buy Bitcoins with this app but only into another wallet, it’s not a wallet itself.