f(x)Wallet by Function X LabsGoogle 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
It claims to support multiple blockchains including Bitcoin, Ethereum and their own, Function X.
Supports on-chain storage, transfer, and exchange of digital assets such as Bitcoin, ERC-20s, and Function X.
Google Play reviews show 4 stars out of 219 reviews.
Among a few of the reviews include:
★★☆☆☆ September 24, 2021
Cannot create a backup due to it crashing… Not able to transfer my coins out of this wallet due to signature issue. Scared to even attempt uninstall and reinstall waiting for new update hopefully this gets resolved soon.
The terms of service can only be found on the app prior to “Create a new wallet” or “Import a Wallet”. Curiously, we cannot find a link to this terms anywhere else on the site or online. We endeavored to make a pastebin of the Terms that are copied verbatim from the app as of September 30, 2021.
Some pertinent provisions:
The Wallet Application enables users: (i) the self-custody of their digital assets, meaning, we do not store your private key on your behalf;
We installed the app both on Blue Stacks and on a Samsung Phone. Upon opening you have 2 options:
- Create wallet
- Restore or import existing wallet
Both require 24-word seed.
After that, there were no KYC measures or ID verification. A BTC wallet is available by scrolling down and tapping on “Add Asset”
It is possible to send or receive BTC from the app.
The 24-word seed phrase is for the entire wallet and not just specifically for bitcoin.
This repo last commit is from “Feb 4, 2021” and contain only 5 commits and 1 tag for version 1.0.0, while the android app with appid “com.pundix.functionx” was last updated in: “August 9, 2021” with version: 1.7.2 and according to appbrain had several version before that.
The source code for this app is 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.