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Maiar Browser

latest release: 0.1.3 ( 23rd July 2020 ) last analysed  27th August 2021 Not updated in a while 
4.9 ★★★★★
259
5th March 2020

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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.

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The Analysis 

Maiar is a digital wallet and global payments app that is reimagining the way we interact with money, allowing you to exchange and securely store crypto on your mobile phone.

Create a wallet in seconds. No username, no password, no recovery phrase to backup. Just use your phone number.

It’s rather unclear if this means there’s no recovery phrase provided at all or if it’s simply optional.

Control your crypto. Be your own bank. At Maiar we help you protect your crypto with the highest level of security via cryptography and privacy features.

We’re approaching security through a process called progressive security. When having nothing to lose, you start light, and gradually receive security suggestions proportional to the assets you store. The more you use the app, the more sophisticated security features are triggered, to help you stay safe and secure.

This seemed to be a relevant piece of information regarding security.

Maiar.com has an FAQ on the homepage.

Is Maiar a custodial or non-custodial wallet?

The Maiar wallet is completely decentralised and non-custodial. We don’t store or have access to the user’s funds at any time. The user owns the private key and has full control over their funds.

How secure is Maiar?

Maiar protects your assets and data using cutting edge encryption and verification techniques to ensure they’re securely stored. In the event where your phone is lost or stolen, your private key (recovery phrase) can be safely used to recover your funds.

In this case, Maiar is non-custodial.

As there’s no accessible source code, this is not verifiable.

(dg)

Verdict Explained

This product did not get updated in over a year.

As part of our Methodology, we ask:

Was the product updated during the last year? If not, we tag it Stale! 

Bitcoin wallets are complex products and Bitcoin is a new, advancing technolgy. Projects that don’t get updated in a year are probably not well maintained.

This verdict may not get applied if the provider is active and expresses good reasons for not updating the product.

The product cannot be independently verified. If the provider puts your funds at risk on purpose or by accident, you will probably not know about the issue before people start losing money. If the provider is more criminally inclined he might have collected all the backups of all the wallets, ready to be emptied at the press of a button. The product might have a formidable track record but out of distress or change in management turns out to be evil from some point on, with nobody outside ever knowing before it is too late.