Rain: Buy & Sell Bitcoinlatest release: 2.4.1 ( 17th October 2021 ) last analysed 1st October 2021 Under development
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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.
The Analysis ¶
(Analysis from Android review)
The app is described as offering services that allow users to buy and sell Bitcoin using fiat from the Middle East. It goes on further:
Rain is the first Middle Eastern cryptocurrency brokerage licensed by the Central Bank of Bahrain (CBB). We currently operate in Bahrain, Saudi Arabia, United Arab Emirates, Kuwait, and Oman. Rain allows you to securely buy, store and sell cryptocurrencies like Bitcoin, Ethereum, Litecoin. You can use your bank account or card to purchase cryptocurrency instantly through Rain.
It describes itself as a licensed custodian
Despite our inability to successfully use and register the app, it is clear that this is a custodial service and therefore, not verifiable
We still have to analyze this product.
As part of our Methodology, we ask:Did we get to a conclusion on the transparency of this product yet? If not, we tag it Development
This product still needs to be evaluated some more. We only gathered name, logo and maybe some more details but we have not yet come to a conclusion what to make of this product.
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