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
- Buy, sell and store crypto and fiat currencies
- Make money by mining coins via the web
- Make and accept payments in store or online
- QR Enabled to easily Pay for goods and services
They have their own token called CREDIT (CREDIT)
When we downloaded the app, the first option was to select whether to Create a Wallet or to Import a Wallet. The app supports BTC, BCH, DASH, CREDIT and other cryptocurrencies.
The app also has a Spot Trading which features various cryptocurrency pairings such as BTC/USDT, BCH/USDT, ETH/USDT, etc.
Backing up the mnemonics can be found under ‘Account’.
We searched for terrabit’s twitter account which was not linked from their site. Then we messaged them to ask about the location of their repo since no repository was linked on their site.
Searching for Terrabit/TerraCredit’s appID on Github, yielded 0 results. The presence of mnemonics and the ability to backup the multi-currency wallet indicates that this wallet is self-custodial however, since the source code is not available, it cannot be verified.
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.