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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 app provides capabilities for staking, exchange, credit line and wallets. It’s staking features allows users to earn up to 12% interest on cryptocurrency assets.
The site carries mostly similar functions as the mobile app.
In its Terms and Conditions, the service agreement allows the platform to:
We may: (a) refuse to complete, or place on hold, block, cancel or reverse a transaction you have authorised (even after funds have been debited from your VNDC Account), (b) suspend, restrict, or terminate your access to any or all of the VNDC Services, and/or (c) deactivate or cancel your VNDC Account with immediate effect for any reason…
In Section 4.11 we find direct references to its custodial nature:
All Digital Assets held in your Digital Asset Wallet are assets held by the VNDC for your benefit on a custodial basis.
We downloaded and installed the app and found it to have standard cryptocurrency wallet features to send/receive, staking and peer-to-peer trading.
This app is custodial and thus 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.