Mirror WalletGoogle 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
Update 2021-10-14: This app is no more available.
While this app calls itself a wallet, this quote gives the implication that it isn’t a bitcoin wallet:
Mirror lets you trade and gain price exposure on real assets without the burdens of holding real assets - allowing you to even hold fractions of expensive and inaccessible stocks.
The app connects users to the Mirror Protocol, which is powered by the Terra Blockchain. Below, we find an explanation of the Mirror Protocol.
Mirror Protocol is built on the Terra blockchain and powers synthetic derivatives called Mirrored Assets that closely track the price of real-world securities, ranging from equities, ETFs, commodities, and cryptocurrencies, etc. […] Mirrored Assets traded on the protocol are fully collateralized with the Terra stablecoin, UST, and provide traders the option of fractional ownership.
We attempted to access the official website provided in Google Play. Unfortunately, at the moment, it only returns a DNS error.
We tried the app and were welcomed with this quote:
Mirror Assets utilize blockchain technology to track the price of underlying assets in real markets but do NOT confer any share rights of the underlying assets.
After signing in, we are provided with a list of risks.
mAssets are simply leverage blockchain technology to mirror the price of underlying assets, and are not actual asssets. No custodian holds underlying assets for you on your behalf. You hold no legal rights to the underlying assets, only to mirrored tokens to the blockchain.
This app clearly states multiple times that users do not truly own any cryptocurrency assets. It’s impossible to send or receive bitcoin as this is not an app for wallet services.
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.