Review on Bitforx Wallet by Danh Huỳnh Ngọc Công
Bitforx - The New Player
Bitforx, founded in December 2018, stated itself as a "Secure Digital Wallet and Cloud Mining Service provider" that aims to bring cryptocurrencies to everyone in the world by delivering the tools to generate and store assets. This is a new website and hardly many people know about it so there is very less information but with my humble knowledge, I hope I can crack down something about it.
I will start with the good points about Bitforx. My first impression about it is that they have a nice landing page which was well-designed and provide nice information about Bitforx including product summary, propositions, cloud mining pricing, team profiles, and some ways of contacting. It was not difficult to me to find out sign in/sign up buttons. This process was very fast with simple email verification. The only problem with signing in is that the reCaptcha box is a little bit laggy so it may waste you 1 or 2 seconds. The dashboard page of my account is simple and nice enough to give me an easy feeling in using it. All the functions of Bitforx can be navigated very fast on the left of the screen. With the wallets, even the beginners will find it is not a struggle to perform certain tasks as their desires. The team behind the website focuses mainly on users' experience with basic work like send or receive coins/tokens and they did a good job! This wallet has a plus when it allows the connection of cold wallet letting users manage their assets on the hardware conveniently. Besides, the nine coins that Bitforx supports are the popular coins; therefore, it will be a good choice for many cryptocurrency enthusiasts. Another significant point about the wallet is transparently acceptable withdrawal fees which serve the users with frequent trading habits. Along with a wallet and mining service, "Exchange" service is the external swap exchange that enable users to swap among the supported assets in Bitforx wallet benefiting users with time and fees. Other than these, users can use Bitforx across many platforms such as on PC, Android and iOS devices. Their app is very light, fast to download and easy to use. There is no need to download the blockchains when using Bitforx so it is wonderful to the users with low end mobile phone. Finally, their customer support can be reached via their zendesk, email, and social media, which is good as people can choose whatever way that fit their desires.
There are also something that keep me loyal to my recent wallet apps rather than using Bitforx. To begin with, I really care about the security of my assets as there are a lot of hacks have happened with crypto products even though they are big companies like Bancor or Binance. However, I see that Bitforx would prefer the convenience of using over the personal account security. Users are not asked to add multiple measures to their accounts and do KYC to protect their own properties. What's more, there is no verification about the contact information they give on their website. Although they seems transparent about their team, their address, or phone number, there is no way to ensure all information is not made up. Another point is that there are only 2 languages supported right now including English and Russian. The number of supported cryptocurrency is also a drawback when Bitforx just allow the interaction with nine coins and no tokens.
Conclusion: I can say that using Bitforx should be very adventurous. It is not about it is a bad product but it is mainly about their being not trusted. The strong point about this website can not hold me from thinking much about its security. Everyone should give it a try to have an exact experience.
Pros
- Easy registration
- Multi platform availability
- Averagely nice website
- Nine coins supported
- Data stored on cloud
- Withdrawal fees
- Customer support available on zendesk, email, phone, and social networks
- Cold wallet supported
- Cloud mining offering
- Internal swap availability
Cons
- Limited number of coins and tokens
- Only 2 languages supported
- Unverified team identity
- No complex requirement about account security
New products
Comments (1)
June 20, 2020
I would recommend you update this review since it is out of service, for more than 8 months many users report that they were scammed since they paid for their mining services and basically disappeared.
