Review on w1 by Abraham Jeremiah
Wallet 1 can't be considered a crypto wallet service. To make matters worse, it's hard to operate
On the Wallet 1 application, one gets to see something undesirable in relation to cryptocurrencies. Normally, what we all expect to see when we open a wallet is some wallet address for any of the supported cryptocurrencies but W1 doesn't have any of such. The process of even trying to understand how the wallet service works is very tedious. Initially I was looking for a way to get in contact with maybe a Bitcoin address but met with a deposit with credit card option instead. To play safe, I decided to check in with it's withdrawal and saw that KYC was compulsory. In order to confirm the working status of this wallet service, I went ahead to fill up the KYC page but it couldn't go through. All efforts proved futile and I had to let go.
While going through the wallet application itself, I saw options for invoicing payment receipts among others, I came to understand that what they actually had in store to offer was a payment service. With the currency supported being only the Russian Ruble, it will turn out to be harder in operations than perceived. W1 shouldn't be listed as a Crypto wallet because I don't see it in relation to anything underlying cryptocurrencies but it's services appears to be operational, it's just too hard to operate.
Pros
- W1 works like a payment processor for businesses and helps in managing financial records and invoicing
Cons
- The KYC verification procedure seems to be tougher than as norms.
- There is a lot of negative words about the payment service that negates what it stands for
- It's very hard to operate. There is no Crypto wallet seem. The procedure of operations are very haphazard
