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CryptoWallet | Exchange & Card

latest release: 1.11.4 ( 2nd November 2021 ) last analysed  22nd November 2021 Not functioning anymore 
5 ★★★★★
3
25th April 2021

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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.

If you find something we should include, you can create an issue or edit this analysis yourself and create a merge request for your changes.

The Analysis 

(Analysis from Android review)

App Description

CryptoWallet is an end-to-end crypto banking and commercial solution. CrypoWallet app:

  • Seamless navigation through the crypto exchange, wallet, and debit card setting features.
  • Generous affiliate program that lets users earn crypto as they go, so you can make money while you spend it.
  • Smooth, intuitive UI that makes crypto more accessible than ever.
  • Customize your app to show only the currencies you’re using and hide the rest.
  • Get 24/7 customer support in X different languages including English, Spanish, Russian, South Korean, Chinese, Japanese and Hindi

Here, CryptoWallet says that it is secured by BitGo:

CryptoWallet is cryptographically secured by BitGo, a licensed custodian and world leader in digital asset security. CryptoWallet is licensed to facilitate the trade of cryptocurrencies and is a legally compliant entity. User data is securely stored on private single-tenant cloud architecture.

Critical reviews

o.edmonton
★☆☆☆☆ September 20, 2021
Phone verification is failed because your partner company doesn’t send your SMS Codes to me. Please change your partner company.

Stephen Day
★★★☆☆ August 24, 2021
Zero reviews. My last review was removed. Something is wrong here.

Mr J
★☆☆☆☆ November 15, 2021
The KYC validation process for new accts is really tedious and keep having failed validation over a number of tries due to some misalightment of requirements in user info… Unable to self edit or resubmit, only solution to fix this is to email directly to them.

The Site

On the homepage, we find CryptoWallet’s claims on custody.

CryptoWallet is secured by BitGo, the world’s leading Bitcoin payment processor. Your digital assets and user privacy are protected by a thorough suite of security measures. These include Two-factor authentication (2FA), end-to-end encryption, and multi-signature cold storage.

CryptoWallet is licensed in Estonia and we are fully legally compliant in handling cryptocurrency trade and storage in all countries where our services are available. You can open your own secure crypto wallet simply by downloading the CW app. Try it out!

From Terms and Conditions, 9.3:

CW LAB can terminate client access to the Website and any other Products at the sole discretion of the company.

Verdict

Although this app is custodial, we will temporarily classify it as defunct. Users on the Play Store appear to have been barred from registration since November and there has been no response from the dev team.

(dg)

Verdict Explained

This product went out of business ... or so. Read the analysis for details.

As part of our Methodology, we ask:

Is the product still supported by the still existing provider? If not, we tag it Defunct! 

Discontinued products or worse, products of providers that are not active anymore, are problematic, especially if they were not formerly reproducible and well audited to be self-custodial following open standards. If the provider hasn’t answered inquiries for a year but their server is still running or similar circumstances might get this verdict, too.