Wyretrade: Invest in Stocks, EGoogle 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
From Google Play:
Wyretrade is a blockchain powered mobile trading App that let investors buy and sell stocks, ETFs and Cryptocurrency.
This app is an exchange.
The app developer is listed as “Remitty LLC,” and has developed two other apps with neither of them involved in cryptocurrencies.
Notably, many of the 5-star reviews only state things such as “nice app” or “Awesome” while many different 1-star reviews say that the app is fake or a scam.
The official site is fairly small and only has a few pages worth noting. The link to the IOS app does not work.
The Terms and Conditions has an Anti-Money Laundering statement, saying that by using their services, you agree to undergo KYC. They obtain personal information, including address, SSN, and the ID verification document.
You agree that, without notice, Wyretrade and Remitty LLC. may terminate these Terms and Conditions, or suspend your access to the Service or the Content, with or without cause at any time and effective immediately.
Attempting to sign in to the app returns a strange error claiming that:
“You have already exist account.”
Trying a different email address still returns that same error.
From what we gather, this app is one of the many obscure exchange apps. With no evidence stating otherwise, we mark this app as 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.