Verso: The crypto cashback applatest release: 2.3.4 ( 1st December 2021 ) last analysed 19th October 2021 A wallet but not for Bitcoin
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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 ¶
(Analysis from Android review)
The app claims to allow users to earn free crypto as cashback for using their app by shopping on their favorite stores.
From their Google Play page:
📲 Download Verso to earn free BTU crypto currency.
📲 Install Verso and join the 100 million crypto currency owners worldwide by earning free crypto currency.
It also allows users to redeem gift cards.
The app claims to create a wallet for the user without registration.
💰 With the new Swap feature you can exchange your BTU crypto to any cryptocurrency of your choice:
- USDT - Tether
- Ethereum - ETH
- Polygon Ex-matic
- USDC - USD Coin by Circle
- Bitcoin BTC
- DAI - MakerDAO stable coin
- GHST - Aavegotchi
- UNI - Uniwap
- QUICK - Quickswap
- AAVE - AAVE
- CRV - Curve Dao Token
- SUSHI - Sushiswap
The app does not have a listed ‘Website’ on their Play page, but its email address has the domain for btu-protocol.com
We tested the app, and there is a ‘My Wallet’ section that allows users to send/receive BTU.
There is also a ‘Swap’ feature that allows users to exchange BTU, USDC, Ethereum, JEUR, MATIC, USDT, DAI, GHST, UNI, QUICK, AAVE, CRV and SUSHI to any of the cryptos listed above.
We tried to test it and then discovered that the BTC was actually wBTC or wrapped BTC, which is an ERC-20 token.
The menu settings allow for the creation of other wallets and the selection of networks.
We tried creating another wallet, but it only created another BTU wallet.
Backup is also possible via mnemonic.
However, there is no option for a BTC wallet.
We contacted @BTUProtocol via twitter to query whether the swap feature allows users to have a BTC wallet. However, even if it did, we discovered that the swap was for wBTC, which is an ERC-20 token.
Therefore, this cryptocurrency wallet does not support BTC.
The product is not for BTC.
As part of our Methodology, we ask:Is it for bitcoins? If not, we tag it No BTC
At this point we only look into wallets that at least also support BTC.
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