Wallet Logo

Smart IT | Bitcoin Hosting

Latest release: 1.0.6 ( 5th April 2022 ) 🔍 Last analysed 30th November 2021 . Not a wallet
1 thousand
25th September 2020

Jump to verdict 

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

Translated from German.

YOUR ACCESS TO NEXT LEVEL MINING

Investing in Bitcoin has never been easier! With Next Level Mining, your personal Bitcoin app from smart IT, you benefit at any time, 24/7 and completely regardless of whether the price is rising quickly, slowly rising or even once stagnating.

The App/Site

We tried to sign up in the site. Strangely, there was an option to login, but no option to register an account. This also applies to the app.

On the homepage, smart IT claims to be aiming to “generate significantly more Bitcoins for our customers than they could have bought with the same amount”

What exactly do I buy from smart IT?

You acquire real computing power, which smart IT makes available to the Bitcoin blockchain. After 20 years, smart IT has the right to cancel for the first time. Maintenance, repairs and the replacement of devices are entirely at the expense of smart IT.

Apparently, users will invest in these “services” and purportedly receive mined Bitcoin in return.

Mining and the first distribution of your mined Bitcoins start 29 days after your deposit has been received into the smart IT account.

The mined Bitcoins are credited to your smart IT account every day.

smart IT claims that it will order the appropriate mining devices from “the manufacturer.” Unfortunately, we are not provided with links or reference to any such entity.

Why does my mining start after 29 days?

Depending on the customer’s desired computing power, smart IT orders the appropriate devices from the manufacturer. It takes an average of 29 days for these to be delivered and properly connected.

Verdict

This does not look like it can serve as a wallet for holding BTC.

(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.