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 is a self-custodial, XLM-centric wallet with BTC support.
The service includes:
- Swap engine
- P2P Exchange
- Zakat Feature
A keystore wallet file is a file that stores our secret key in encrypted form. You get to choose a password to encrypt the file with. This way, if a hacker gets your file, they would still need the password that you chose in order to access your wallet. This means, that if you choose a strong password, you can more safely back the file up in the cloud without worrying about hacks. When you login to Gwallet, you will be asked for your keystore file AND your password. You should back up both of these pieces of information (as GWallet does NOT store your keystore wallet file or your password). If you are worried about accessing your private key if you use this method, don’t worry. You can see your secret key once you log in at Wallet > Profile > Advanced. However, please be sure you really want to access your secret key. Understand, you already have your secret key in your keystore file but in a third-party audited, securely encrypted form. Once you have your secret key, you will have to protect it!
“Create a Wallet” and “Import a Wallet” are the first two options once the app is launched. A deposit of 5 XLM is required to activate the wallet. The wallet supports multiple cryptocurrencies including BTC. Users can send and receive BTC.
This is a self-custodial wallet that supports the sending and receiving of BTC. However, a search for the appID ‘gwallet.tech’ on github, yields 0 results. This means that the developers have not made the source code available for verification.
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.