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Coin Wallet - Bitcoin & Crypto

Latest release: 5.4.0 ( 24th May 2022 ) 🔍 Last analysed 20th December 2020 . Failed to build from source provided!
4.4 ★★★★★
149 ratings
14th December 2015

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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.

If you find something we should include, you can create an issue or edit this analysis yourself and create a merge request for your changes.

The Analysis 

(Analysis from Android review)

Update: The provider closed the issue about reproducibility, so we do not assume this app to be reproducible any time soon.

Coin Bitcoin Wallet at least implies to be non-custodial with this feature:

Secure passphrase generation (your master private key), no one else can access your Coin.Space wallet.

but other features do not sound that promising:

Get started in seconds and access your wallet from any device: app or web.

They also claim

Over 20 million Wallets users.

and are around since early 2015, so we are hopeful to find more solid information on their website because in the Playstore description there is no word about source code.

There we again see strong claims about this wallet not being custodial:

Coin does not hold your keys for you. We cannot access accounts, recover keys, reset passphrase, nor reverse transactions. Protect your keys & always check that you are on correct URL. You are responsible for your security.

But nowhere on the website is a link to a source code repository.

Searching GitHub for their applicationId com.coinspace.app we find two repositories, with one looking promising: One of the latest commits is tagged v2.16.3 which is exactly the version we see on Google Play.

Unfortunately there is nothing in terms of build instructions. Given there are two open issues, issue 14 and issue 17 asking about how to make this work, not specifically asking about Android but seeing these issues remaining unresolved in a year and almost two years I will postpone this analysis and conclude for now that this wallet is not verifiable.

Update: The developer replied to our request to resolve the issues we had but he closed the issue commenting:

Perhaps, it didn’t match because we don’t publish here our private parameters which we use for build. But you can be sure that our tags match App on Google Play store.

which was not our issue.

We are tempted to just try stuff with the Docker file there but our mission statement is that it should be easily reproducible which definitely includes not having to guess and so we remain until further notice with our prior verdict: not verifiable.

(lw)

Verdict Explained

We encountered a build error while compiling from source code!

As part of our Methodology, we ask:

Build Error!

Can the product be built from the source provided?

If the answer is "no", we mark it as "Failed to build from source provided!".

Published code doesn’t help much if the app fails to compile.

We try to compile the published source code using the published build instructions into a binary. If that fails, we might try to work around issues but if we consistently fail to build the app, we give it this verdict and open an issue in the issue tracker of the provider to hopefully verify their app later.

The product cannot be independently verified. If the provider puts your funds at risk on purpose or by accident, you will probably not know about the issue before people start losing money. If the provider is more criminally inclined he might have collected all the backups of all the wallets, ready to be emptied at the press of a button. The product might have a formidable track record but out of distress or change in management turns out to be evil from some point on, with nobody outside ever knowing before it is too late.