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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
App Description from Google Play
Highest security standards, two-way verification
- Stock-exchange trading, monitored price quality
- Large selection of asset classes: equities, ETFs, certificates, warrants, cryptocurrencies
- German banking partners for highly secure crypto trading
- Trade crypto at favourable prices, no commission
- No high-risk products such as CFDs
- Headquartered and regulated in Germany
2.4 Bankhaus von der Heydt takes care of the customer’s custody of the cryptocurrencies purchased via the platform in so-called „ digital lockers “ or „ Wallets “. These are collective wallets in which the acquired cryptocurrencies of all customers of FELS wealth are kept. Customers’ cash holdings are also kept in a collective account in the name of FELS wealth at Heydt’s bank. FELS wealth has no authority to have cryptocurrencies or cash on these collective accounts. Details on custody are regulated in the terms and conditions of Heydt.
As section 2.4 of the Terms states, this is a custodial provider and the app is 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.