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Bitcoin trading - Capital.com

latest release: 1.33.2 ( 8th October 2021 ) last analysed  3rd September 2021 Can't send or receive bitcoins 
4.8 ★★★★★
712
26th November 2019

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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)

The app doesn’t have a web equivalent and the primary domain associated with the app points to the services company that created the software.

Its self-description reads as follows:

Trade CFDs on Bitcoin, Ethereum, Ripple, Dogecoin, Litecoin, Shib and other major crypto pairs with 0% commission and tight spreads.

A Contract for Differences CFD is a financial instrument that allows traders to speculate on an asset without actually owning the asset.

Not much information can be gleaned from the web domain so most of the information is derived from the Google Play description.

Capital.com is here to provide an engaging trading experience on our user-friendly platform that is designed to make trading more intuitive. Gain exposure to the crypto markets with derivatives and become a Bitcoin trader without needing to hold any Bitcoin.

The presence of CFDs indicate an inability to send and receive bitcoins.

Additional observations: We wonder how this app relates to Capital.com, as that site redirects to    and not this app.

(dg)

Verdict Explained

The product can't send or receive BTC.

As part of our Methodology, we ask:

Can it send and receive bitcoins? If not, we tag it No send/receive 

If it is for holding BTC but you can’t actually send or receive them with this product then it doesn’t function like a wallet for BTC but you might still be using it to hold your bitcoins with the intention to convert back to fiat when you “cash out”.

All products in this category are custodial and thus funds are at the mercy of the provider.

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.