Vivid: Investments & Banking & Cryptolatest release: 1.58.2 ( 21st September 2021 ) last analysed 21st August 2021 Can't send or receive bitcoins
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Do your own research!
Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.
The Analysis ¶
Vivid is a brand new mobile banking and investing app. Online banking and commission-free investing belong together and should be easy.
From their website’s ‘help’ section in response to the question: “Do I own real cryptocurrencies?”
No, you don’t. With Vivid Invest we offer trading via Fractional Сoins. Fractional Coins are investment products; one-to-one bilateral agreements (so-called OTC derivatives) with specific cryptocurrencies as underlying. The price of your Fractional Coins reflects a real coin’s price movements 1:1. There is no leverage.
We conclude that this app cannot send our receive actual Bitcoins.
The product can't send or receive BTC.
As part of our Methodology, we ask:Can it send and receive bitcoins? If not, we tag it No send/receive
If it is for holding BTC but you can’t actually send or receive them with this product then it doesn’t function like a wallet for BTC but you might still be using it to hold your bitcoins with the intention to convert back to fiat when you “cash out”.
All products in this category are custodial and thus funds are at the mercy of the provider.
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