PTPWallet - Bitcoin, Ethereum,Google 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
Update 2021-05-25: We had this app listed as custodial previously but now think they try to imply to be non-custodial. Absent source code, none of that is verifiable though, so the “not verifiable” verdict did not change.
In their FAQ we can read:
I entered/lost my passphrases and it’s giving me a message that I can’t access my account. What can I do?
Please double-check to make sure you implemented the passphrases correctly, without any spacing after the words, in the same numeric order, and make sure the grammar is correct (no autocorrects). In addition, make sure you aren’t missing a letter and no letters are capitalized.
A passphrase is an industry-standard tool that is the LAST LINE of protection for crypto accounts (be it in an exchange or a wallet). Due to security and privacy reasons, every company that has passphrase protection is unable to access the passphrases. Therefore, if you lose your passphrases or incorrectly wrote them down initially, then you will lose access to your account, and there is sadly nothing our company - nor any company - can do to regain access to your account.
which is a claim to be non-custodial but even then, other claims:
Designed for simple digital asset management and to protect you against thieves and hackers, your digital assets are secured with this coin base wallet. 6-word passphrase and PIN Code protection, asks you for PIN Code every time you open your cryptocurrency wallet and make transactions.
make us wonder how much in control the user is, as “6 words” is not an industry standard.
Custodial or not, absent source code their claims are anyway not verifiable.
Tests performed by Leo Wandersleb
Previous application build tests
|6th December 2020|
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.