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
(Analysis from Android review)
Updated Review 2023-04-05
There are currently 4 blockbank apps on WalletScrutiny and still available on Google Play and iOS.
Version 1 includes:
Version 2 includes:
- (This one)
This is addressed in the FAQ, with the following information on how to migrate 1 to V2:
We can say that the app has 3 distinct options: CeFi, DeFi and NFT. We’re primarily concerned with CeFi and DeFi.
The DeFi portion of the app does not support Bitcoin.
The CeFi portion is custodial, and there are mentions that it does support Bitcoin. We’re currently verifying this.
As two possible verdicts are present, we are choosing the verdict that warns the users more about a product. In this case, it is a custodial offering that’s non-verifiable.
Reviews on Google Play
★★☆☆☆ January 5, 2022
I am still trying the app based on recommendation but some USDT tokens I transferred since Sunday has not reflected but it was successful from kucoin This situation is very sad
★☆☆☆☆ May 24, 2022
Very bad app withdraw & deposit to many late😡😡😡😡
Previous Review 2023-03-06
Download the blockbank app today and tap into the centralized, decentralized, and traditional finance world, minus the complexity.
ENJOY THE FULL CENTRALIZED FINANCE EXPERIENCE Open a custodial wallet within minutes through a simple KYC process and access a range of CeFi features, including: • Custodial wallet to securely store your digital assets through AKA custody • Stake and get up to 20% APY (annual percentage yield) • Trade through APIs into CEXes • Insure your assets • Borrow and lend digital assets • Access FIAT on & off-ramp
DECENTRALIZED FINANCE AT YOUR FINGERTIPS All of the essential features plus more: • Non-custodial wallet • Web 3.0 browser • Multi-asset chain support (ERC, BSC & AVAX)
TRADITIONAL BANKING, BUT MAKE IT FASTER Forget the complexity and enjoy modern-day traditional banking features, including: • Fast & cheap transactions
The blockbank app purportedly provides both custodial and self-custodial services. You can create or import your own wallet right away while the option for centralized finance requires KYC / AML verification.
Although images of the app on Google Play and the official website showed that Bitcoin was a supported asset, when we installed the app we did not see the option to withdraw or deposit BTC. We could not find information on whether the app’s source code was available for review. Because this app has custodial and self-custodial wallets, and neither of which can be considered verifiable, we conclude our analysis of the product here.
Verdict: Not verifiable, no source available for review.
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.