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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)
The app description appears to be entirely in Spanish. Quotes below are taken from Google Translate.
From the app description:
Listed among the top 30 exchanges on Coinmaketcap. Mexo is the most complete and reliable cryptocurrency exchange in Latin America, with more than 70 cryptocurrency assets and more than 60 trading pairs, including the DeFi and NFT sections. The Mexo app provides comprehensive information and tools for users to trade on the go.
Mexo has the interface of an exchange and states that it is among the top 30 on Coinmarketcap.
In Google Play, a lot of reviewers report delays in the verification process. As of the date of this writing, the overall Google Play rating is just 1.9.
★★☆☆☆ September 12, 2021
Verification process takes so much time , from 4 days still my verification is in progress, not completed .
Mexo has a blog post directly stating that it is a custodial platform.
Most cryptocurrency exchanges, including Mexo, allow you to securely custody Bitcoin on their platform after purchase. If you are not familiar with how to store your own private key or have zero experience in Bitcoin wallet, then it could be easier for you to store your asset on a trustable exchange.
We downloaded this app to view the features. It is possible to send and receive crypto using a BTC address or QR code. Users may trade bitcoin from the markets.
There is no option to export private keys as it is a custodial service.
This app is custodial therefore not verifiable.
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.