Chiliz ExchangeGoogle 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 2022-04-01: This app is not available anymore.
Chiliz Exchange is the official exchange app of the cryptocurrency company Chiliz in Europe. You can easily send your Bitcoin, Ethereum and many other cryptocurrencies in your secured wallet and then trade them.
From Terms and Conditions:
You understand that this Website/App is only intended to serve as a venue for you to obtain Digital Asset information, find trading counterparties and effect transactions of Digital Assets.
At section 4.2.5
Upon any of the events outlined in the foregoing taking place, we also reserve the right to withhold/retain/confiscate any available funds or balances in your account (collectively the “Funds”) at our sole discretion.
We downloaded the app, and signed up. After joining the service, the service generates a BTC address allowing the user to send or receive bitcoins. However, as it is a centralized exchange, the private keys are not provided.
Verdict: This exchange 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.