BCMY.io wallet review

BCMY.io
BCMY.io
Intuitive Ease of use,  High Privacy,  User Private Keys Stored

BCMY.io is designed for convenience. It is easy to use, you can sign up with only a credit card, and you can be buying, saving, and spending cryptocurrencies in minutes. Unfortunately much of this convenience means some compromise on security. They do issue debit cards though that will allow you to withdraw coins and convert them through their ATM's

BCMY (BlockChains.my) is a wallet designed for Android. They provide a debit card that allows you to spend and withdrawal your coins. You are able to withdraw FIAT currency from their network of ATMs. The platform offers the ability to buy things from their marketplace using Cryptocurrencies.

Company / organization behind the wallets

Arai Ezzra, the CEO has been involved in the financial market. The company has offices in Singapore & Ueno. They also manage DinarCoin (DNC) which is a Cryptocurrency that is attached to the price of gold.

Crypto Currencies Support

Traditional Currency Support

  • Euros (EUR)
  • US Dollar (USD)

Language Support

  • English

Supported Systems

  • Android

Partners and integrated software

  • Waxis

This wallet has a number of fancy sounding security features like face recognition, and session time outs but none of these features meet industry standards for security. It is definitely not designed to be a savings account. However what it lacks in security in makes up for in functionality.

Summary:

Security
Low
2 Factor Authentication
No
Multi-Signature
No
Private Keys Stored On
User
Storage Type
Hot storage
Transactions Validation
Centralized validation
Hierarchical Deterministic
No

What happens in the event of a disaster/theft/loss?

The user has a 'root key', 'recovery phrase' or 'word seed' that can be used to regenerate private keys.

The design looks modern and intuitive, easy to make transactions between people or credit cards. Its a little more complicated to get clearance for higher level accounts (that can hold more value).

Summary:

The BCMY wallet is easy to use and provides the ability to store, trade, and buy Cryptocurrencies. Their security measures are average, they are missing a few high security features. Most notable about BCMY is their marketplace which allows users to shop using cryptocurrencies and the debit card they provide their customers.

Ease of use
Intuitive
Suitable For
Millennials
Account activation process
Simple
Transaction fees
Set transaction fees
Setup fee
$0.00

Functionality:

  • Buy coins using credit card
  • Exchange coins crypto to crypto
  • Withdrawal funds to credit card
  • Issue a debit card

BCMY (BlockChains.my) is a wallet designed for Android. They provide a debit card that allows you to spend and withdrawal your coins. You are able to withdraw FIAT currency from their network of ATMs. The platform offers the ability to buy things from their marketplace using Cryptocurrencies.

The wallet platform has developed a partnership with a 3rd party and integrated the 3rd party services into their software

Help and
support:

  • FAQ section
  • Contact form
  • Email
  • Phone

Personal information for activation account:

  • Name
  • Email Address
  • Phone Number
  • Photo for facial recognition
  • Country of residence

Most common
customer complaint:

Difficult to register