Digital MoneyApp Store
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)
Digital Money provides secure and easy access to purchase cryptocurrencies from anywhere using a Debit/Credit Card 💳. We plan to release more currencies as the month’s tick along. Currently, we support BTC only.
The Terms of Service say that Digital Money has the right to suspend your access to their services.
We may terminate or suspend Your access immediately, without prior notice or liability, for any reason whatsoever, including without limitation if You breach these Terms and Conditions.
Upon termination, Your right to use the Service will cease immediately.
We installed the app and registered. We were allowed to create a new wallet or import one via a backup phrase.
Upon creating a new wallet, we were provided with a 12-word mnemonic and asked to safeguard it.
Digital Money can suspend your account, thus terminating your access to the service - and any funds stored inside the app. However, it also provides you with the private keys and allows you to restore your wallets.
In this case, we classify the app as self-custodial. Nevertheless, there is no information on the source code being publicly available. We also checked the site and searched the appID ‘co.digitalmoney.dmapp’ on Github, with no results. We conclude that it is likely that there is no available source to verify.
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.