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ProfitTradingApp for OKEx

Latest release: 1.2.0 ( 23rd July 2020 ) šŸ” Last analysed 21st October 2022 . Under development Not updated in a long time
5 thousand
11th June 2020

Jump to verdict 

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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.

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The Analysis 

The provider ProfitTradingApp features a list of apps:

each of which act as an interface to the respectively mentioned exchange.

Note: This app was reviewed along with 11 other Profit Trading apps, it was marked as ā€˜staleā€™ due to this specific appā€™s update status. Otherwise, the verdict below applies.

While the provider doesnā€™t custody your coins, neither do you. This app can trade on your behalf via its bots and you can also withdraw and deposit. This means you can use it as a wallet but not only are your coins in custody of the respective exchange, this app probably can also empty all the accounts of all its users at once which is why we consider it itself custodial and thus not verifiable.

(dg)

Verdict Explained

We still have to analyze this product.

As part of our Methodology, we ask:

Development

Did we get to a conclusion on the verdict of this product yet?

If the answer is "no", we mark it as "Under 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.

But we also ask:

Obsolete!

Was the product updated during the last two years?

If the answer is "no", we mark it as "Not updated in a long time".

Bitcoin wallets are complex products and Bitcoin is a new, advancing technolgy. Projects that donā€™t get updated in a long time are probably not well maintained. It is questionable if the provider even has staff at hands that is familiar with the product, should issues arise.

This verdict may not get applied if the provider is active and expresses good reasons for not updating the product.