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Atm option Bitcoin trading

Latest release: 1.1.20 ( 18th September 2021 ) 🔍 Last analysed 26th November 2021 . Can't send or receive bitcoins Not functioning anymore
4.7 ★★★★★
35 ratings
1 thousand
10th May 2021

Jump to verdict 

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 

Update 2021-11-18: This app is not on Play Store anymore.

App Description

This app has the same developer with:

Atm Options:pintu tol trading No Wallet Defunct!

ATM option is a reliable trading platform with the most popular FOREX market assets: currencies, and many others, as well as other assets.Global traders can trade here.

Free Demo Account A special trading simulator will help you learn how to trade without risking your funds. All registered users get access to 1,000 currency units on a demo account.

It’s a trading platform.

Google Play Critical reviews

NJ Hollywood CLIPS
★☆☆☆☆ September 13, 2021
Fake and fraud app

Jonathyn Fligg
★☆☆☆☆ August 24, 2021
Can’t log in from today, it works normally. It is showing network problems, and it doesn’t matter if you encounter them. And system error

Terms and Conditions

Under Section 2, provision c. ii. b “Ancillary Services”, number 1 i., ATM Option states that part of its Ancillary Services includes:

1. i. Safekeeping and administration of the Financial Instruments for the Client’s Trading Account, including custodianship and related services such as cash/collateral management.

Its Zendesk and support pages are no longer available.

Under Section 2.a - “Risks”

The value of the Financial Instruments offered by the Company may increase or decrease. The Client acknowledges that they fully understand the risks involved in trading CFDs (and other similar products), including, but not limited to, the risk of loss of all funds.

The App

We downloaded the app and it only asked for a phone number and SMS verification. Once we’re using the app, the options were “Buy” and “Sell” Bitcoin under the CFD tab. Deposit and Withdrawal can only be done via USDT.

Verdict

The user can only send and receive USDT. However, it can trade Bitcoin via CFDs. It cannot send and receive Bitcoins.

(dg)

Verdict Explained

The product can't send or receive BTC.

As part of our Methodology, we ask:

No send/receive!

Can it send and receive bitcoins?

If the answer is "no", we mark it as "Can't send or receive bitcoins".

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.

But we also ask:

Defunct!

Is the product still supported by the still existing provider?

If the answer is "no", we mark it as "Not functioning anymore".

Discontinued products or worse, products of providers that are not active anymore, are problematic, especially if they were not formerly reproducible and well audited to be self-custodial following open standards. If the provider hasn’t answered inquiries for a year but their server is still running or similar circumstances might get this verdict, too.