MAX Exchange - Buy BitcoinApp Store
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)
Most exchanges are custodial, but to verify, we tried downloading the app and accessing the website. We downloaded the app, but it labelled our location as prohibited. The same error happened with its website.
The next step we did was to look into its user agreement or terms via TOR browser.
A Digital Currency wallet provided by MAX ExchangeAccount for each Digital Currency available to you(“Digital Currency Wallet”), depending on yourlocation and subject to MAX Exchange’s sole discretion;
Section 4.6 of the same page further elaborates:
(b)to restrict or terminate your access to any or all of the MAX Exchange Services and/or this Site for the purpose of risk control,and to determine the process to settle and return your Digital Currency and Fiat Currency,for example, enabling you to withdraw within a specific period;
Since the platform and app, explicitly states its control of user funds, this is thereby confirmed as custodial and cannot be verified.
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.