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
⚠️ The company behind this app has announced on twitter that it has been acquired by another private company.
App Description from Google Play
Stibits offers a premium platform through which users can send and receive crypto currency using their name, phone number, or e-mail address.
The Company reserves the right to suspend the Service, modify the Service, or permanently or temporarily terminate or suspend your access to the Service without any prior notice or incurring any liability for any reason if, in our sole determination.
We downloaded the app and tried to register with the service but keep on getting an error. We believe it has something to do with the acquisition of the parent company. If other users are not able to sign in with the app due to this acquisition, then that is another indication for its custodial nature.
The possibility is also there, that the company and thus the servers, that are operating the login as well as other services are no longer operating. Until an official announcement is made, we felt it more prudent to describe this as a custodial provider, making the app, 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.