Bitcoin Forum

There is a common thing we all must have noticed about wallets claims especially even in their official sites which are or contain bits falsehood, like areas of being open source or not and others. All these are done to get customers and so it is better not to entirely believe what you read from their site but also verify from trusted source(s) and users who have used them and not affiliated with them in order to know the truth and avoid being in risks.


During a discussion one time in the main board, I remember even being stunned by reports I read about some wallets we might have thought were or are still good but unfortunately they are not or are living in past glory. I got this site during the discussion https://walletscrutiny.com/ and this is what it is about:

Nice, I'll book mark the link. Though for year now I've only used electrum and blue wallet to store my funds. I don't usually consider using any other wallet due to their unreliability and consistent bugs.

One think I've seen about many of these wallets, they claims to be what they aren't just to lure users into downloading them. Some are not even open source but you will see it clearly stated on their site about it being an open source, I wonder if they even understand what some things mean.

The worst part are wallets like trust which claim to be noncustodial but basically has an option for you to back up your seed to the cloud. And the worst is that it's a google drive.. I wonder how lazy someone would be to even think about using such wallets features.

There are alot of things that you need to consider when choosing a wallet and randomly reading an article is not enough. You will discover that wallets with the lowest decentralization and privacy support sell better than the open source and decentralized counterparts and this is because people easily buy these narratives.

It's all about doing a better level of research and really understanding how the network works else, you'll still end up buying that same narrative a random guy saw on a trust wallet advert.

There are challenges of being inexperienced to be able to make the necessary verifications needed to be done in knowing if a wallet is an open source or a close source wallet, this is one of the things we should be on a look for even in using a non custodial wallet, except one is a technical oriented person or knows about how to run this kind of check, or better still to consult someone in such regards.

Secondly, I've seen an exchange, claiming that they have a non custodial wallet too, which will protect users from losing their assetss and guaranteed maximum security and the rest, all these offers still on the same exchange that is centralized, yet it's a pity that some will still fall under this trick and take them for a non custodial wallet just by what they say, but platform like this brought us into the light of them all by exposing their secrets.

Not a lie and you don't need to agree to what they say, the first step so to verify their claims. Every Wallet that gives you full control of your private keys is a non custodial wallet and most exchanges offers web3 wallets that are non custodial too that give you full control of your private keys.

Those wallets are only integrated into their website but they're fully noncustodial; they don't have control to your coins but it's always advisble to use an open source non custodial wallets so you can verify the source codes for vulnerabilities..

That is why the area shaded is important. They know how to lie, speaking of what others want to hear but they are keeping to that standard, what matter is profit/brand and not the name.

Yes, doing research vary with what the user want but everything is still available oftentimes or they may be the first to document theirs and help others. Researching goes beyond a single source or individuals and there are sites that might just be created for such purpose like we have Trustpilot. I love forum/platform where individuals dropped their reviews I can judge based on each individual take. While for an article, one is never enough.

I will add that often times, these CEX might claim their non-custodial wallets are open source but then it is false when try to go find the code on their site or github, while some others might have but the code won't be the actual one or functioning.

I have not seen anyone among them that claimed that. But, generally, I have seen many wallets that their developers claimed that their wallets are open sources but they are not open sources. A good example now Atomics wallet. Those exchanges may not lie just because they have huge fan base already that are following them blindly.

Verification remains a thing for those who know how, those who understands what it means for a site, wallet or exchange to be open source or closed source and what benefits we get from it’s distinct attributes and functionality.

It’s also a thing for those who understands codes.
This brings me to the question on what becomes of the fate of those who do not understand either of these things but still want to be safe out there on best fits.

Without coding knowledge you can't inspect the codes you will have to rely on community feedbacks, audits and some already made tools.

Some basic steps is checking to making sure the source codes are from the wallet dev official GitHub respository too.

Bitget claim their wallet  is open source but it's not like it's being updated and this is an example. I think Trust wallet for IOS is closed source also, if I remember correctly.

Here is a link to the bitget wallet github and review from wallet scrutiny:
https://github.com/bitgetwallet
https://walletscrutiny.com/iphone/com.bitkeep.os/

As you quoted Africolo, I thought you people are referring to the wallet the exchanges have on their exchanges which also generate seed phrase for users. Bitget wallet is not open source while Trust wallet is also not open source, both the iOS and the Android version. The wallet was open source before until Binance bought it.

Oh I see that's where the misunderstanding was coming from. I don't think any of those integrated wallets are open source by the way.

Trust wallet has many questionable features which is why it's never advisable to use it and Metamask behaviour also.

In the both links you provided they both explained that the source codes is not public and that the wallet is decentralized which is correct- I didn't see where they claims it's an Open source wallet.

Decentralized system is not equal open source.

In the internet space we shouldn't only be careful of those we patronize, but also those who give reviews, Some scam organizations can go to the extent of putting up perceived honest reviews for a while and when they have earned people's trust, the put up some manipulative acts. I think this might be a good tool for now judging from your usage, but It is still a better approach to scrutinization when you hear from people that have actually used these wallets or tested it out thoroughly, even those updated with the recent releases to validate still their effectiveness and I believe this forum always has reputable members that can give such information.

https://www.talkimg.com/images/2025/10/03/UGGP4G.jpeg
https://www.talkimg.com/images/2025/10/03/UGG6Nj.jpeg

Both links seems broken but if you search about bitget wallet being open source you will get similar information and the one speaking of their "core swapping code" being open source is no longer true since it's not being updated as at this moment.

One thing you most know about all this stuff is that they are all running a business and whosoever want he's or her business to grow will do whatever just to attain that goal,  they will give you all the sweet mouth you need just to get that audience that they need so it's important you  make your own findings or running a check  in every bit of information given before swinging into it otherwise you create problems to your self.


Furthermore, have be hearing some stories like how some wallet has been doing some dirty stuff to some folks but I got it clear not until it happened to me, ever since then I have decided never to use any other wallet to store my assets if not electrum.

Therefore, always verify before concluding otherwise you will learn it hard.

Not broken i guess.. but ive quoted and edited it for visibility.. the
That’s how they mostly use the word “open-sourced” so far some components is open-source then they would use the word.. same goes for Trust wallet they don’t make open claims that their core app aren’t really open source , it’s left to the user to find out if they are trully open sourced, that’s why you would see alot of uninformed argue it’s really opensource

This is a problem because in the long a business lacking transparency and trust will fall off with time. Nobody's like being lied to or taken as a fool, but some of these businesses act inappropriately because of profit and then give themselves a red flag that may just stay for ever.


Thanks but I wasn't referring to those links as being broken and didn't want to post thd image earlier, I often prefer sending direct links of an image rather than the image itself but this is still good.

Trust wallet is a good example of this by the way,  we all have seen it for years, some of us started with it before moving to a nore better and trustworthy wallet.

ohh my bad then.. i thought you were referring to them, which means it was the previous link right? those weren’t broken either.. are they?

Is it to say that their exchange security is not as strong as the non custodial wallet they are offering as higher secured option foe their users. When you approach the marketing statements of many of these exchanges and wallets with deeper reasoning you can simply separate the lies from the truth about what they are offering.

The online crypto space is not for lazy users cause it requires your activeness in doing self research scrutinizing every word you receive and configuring for yourself. Electrum is the only wallet I have been using and for the first time it was introduced to me I did my own investigation to confirm it is open source as it was told to me.

The links of the screenshotted sites were broken and so I decided to screenshot it for others to see and searching online one will still see them.


The thing is that some of these Centralize exchanges have their own non-custodial wallet but often times _{if not all}, it is closed source and their fee calculations can be even more expensive, this is something I have experienced. The truth might not be stated, you have to verify yourself.