Has anyone used the Incognito wallet?

[yat97]

It seems promising. It makes your coins private and you can swap for other coins with low fees it seems. I havent used it yet but seems promising.

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[BitcoinGirl.Club]

It seems promising. It makes your coins private and you can swap for other coins with low fees it seems. I havent used it yet but seems promising.

I just had a Google search and discovered their Google Play Store version. The site too. Honestly speaking this is the first time I am hearing about them. I am sure unless it become a regular thing like Electrum and this kind of wallets, I am not going to try.

And fees are not something the wallet sets for you. It depends on the network congestion. A wallet can make you a suggestion only.

[yat97]

^ Some wallets like the Exodus wallet have their own fees for "swaping" coins. Exodus is pretty high. swap 100 usd worth of something pay between 10 and 15 dollars.

[BitMaxz]

This is another new wallet for mobile phones the site was established last July 2020 so it's new to handle bitcoin and crypto. Also, they already have many bad reviews on their play store app like they can't send their coins.

So for me, based on my research the apps still have many bugs and cannot be trusted. It's still new to me to hold coins or use their service.

The good thing about this wallet they are actively developing the wallet base on their activity on their GitHub page.
Months is not enough to trust a wallet for me it still needs to be a well-known wallet here on the forum.

[sheenshane]

Which is your most concern?  Keeping your Bitcoin safe or cheapest way of swapping your Bitcoin into altcoins?

I'd rather choose to store Bitcoin, not on multi-crypto wallets especially in the mobile wallet that highly prone in different possible that have many bugs.  I think no one can beat Electrum wallet upon storing your Bitcoin and if you want to exchange your Bitcoin for altcoin you can always choose legit exchange sites.

I tend to agree above, incognito wallet is quite a new Bitcoin wallet and it seems it needs more improvement.  For swapping purposes, $10-15 still quite high, it might the same rate in Coinomi wallet which is the oldest wallet compared to this.

[bitmover]

Which is your most concern?  Keeping your Bitcoin safe or cheapest way of swapping your Bitcoin into altcoins?

....

I tend to agree above, incognito wallet is quite a new Bitcoin wallet and it seems it needs more improvement.  For swapping purposes, $10-15 still quite high, it might the same rate in Coinomi wallet which is the oldest wallet compared to this.

Sometimes when you are trading a very low volume, such as 20-100 USD, it is cheaper, faster and more private to use a swaping service. I have used a lot. I used all of them, inside coinomi app and out, from shapeshift to easyrabbit (lol, i don't even know if they still exist).

Swapping services are sometimes good to use because they don't have withdrawal fees. But when you are using a higher volume, they become expensive.

This wallet might be ok if you are using just a few bucks in it, but I wouldn't trust a lot of money in it.
Also, it is better to trade in an exhcange if you have more than 1000 USD, maybe even less depending on the coin and exchange. Probably FTX is much cheaper, as they have no withdrawal fees for most coins.

[mk4]

For those wondering, this seems to be the one:

• https://incognito.org/
• https://github.com/incognitochain

They have a public GitHub repository, but I'm not sure if it's actually totally 100% open-source. Feel free to verify it yourselves.

[HCP]

Swapping services are sometimes good to use because they don't have withdrawal fees. But when you are using a higher volume, they become expensive.

They may not explicitly have a withdrawal fee, but they just factor the "withdrawal fees" into their buy/sell spreads... So, while it may not technically be a "fee", you're still paying for it. Check the rates they give against the current values of the coins. They will 100% have factored in a margin that guarantees to cover the transaction fees and make a profit etc.

[dkbit98]

going Incognito also makes your Bitcoin go 7x faster.

 

I never before heard about Incognito wallet but this part on their website made me laugh and reminded me on bad old tv commercials, and I think they are custodial service.
They are in fact not moving BTC at all but some fake pBTC token they claim has same value like real Bitcoin, with custodial bridge and some shielding mechanism mambo jumbo.
pBTC should be redeemed for BTC but what about super high fees for doing that and what happens if their custodial bridge stops working... you stay with bunch of worthless tokens, while they hold your real bitcoin.

[hugeblack]

I do not recommend using wallets that contain marketing phrases more than technical ones, such as the wallet that offer the cheapest fees or the fastest confirmations, because they indicate the following:
The developer team knows that this is a lie and continues with it, which means that it is difficult to believe them about the code (whether it was open source or closed source)
The developer team doesn't know what they're talking about: here, there will often be some bugs.

[yat97]

Yeah. So I've been trying it and well I'm mostly just using it as if it's a bitcoin mixer. The fees are very low. I'm not keeping anything on it, but I am using it to receive bitcoin not associated with me.


It takes...... FFOOORRRREEEEVVVVVEEEERRRR to mask it and stuff. Like. Holy crap.