Wallace Wallet Review – Key Features, FCA Warning, and More

Overall, the crypto trading world is still unclear to some traders. With its anonymity, it’s one of the most popular industries in the world. As much as it makes it interesting, that much it makes it dangerous.

Believe it or not, more than 50% of crypto transfers include illicit activities. To find out if this is the right place to invest your crypto, find out in our unbiased Wallace Wallet review.

Who Runs Wallace Wallet?

If you try looking for the company’s legal information, you won’t find any. Therefore, looking for founders, legal addresses, and other relevant information requires some digging. The company only mentions GeoDB Blockchain Ltd, registered in the UK. If you look at the registered companies database, you can truly find them. 

As can be seen, four of the six people have resigned. The currently active individuals are Manuel Fernandez Palacios and Luis Gelado Crespo, both from Spain. What’s surprising is that the company they are running appears on the FCA warning list. Consequently, you know they are targeting UK traders without authorization.       

What Do Traders Say?

When it comes to Wallace Wallet reviews, you can only find many complaints on the Reddit platform. Many traders reported different issues, and ultimately, it appears the company is dead—the same as their partner company, GeoDB. 

A few of the most common issues are related to app crashes, login credentials not working, withdrawal issues, disappearing funds, etc. Practically, everything you want to avoid with a crypto wallet provider. 

How Does Wallace Wallet Operate?

One of the key features of the Wallace Wallet app is the reward program through a proprietary GEO token. The current circulating supply is a bit over 82 million, and the price, according to CoinMarketCap, is $0.00014. This is certainly not something that represents reliability.

Anyway, the company offers different programs that motivate users to buy proprietary tokens and hold them. In return, they should get a commission. The company also offers access to the most popular coins, easy buying options, and, most importantly, a multi-account platform synced on all devices. 

Security Standards

The nature of Wallace Wallet non-custodial wallet allows users to keep control of their access keys and funds. Therefore, there shouldn’t be any worries regarding transferring the money. As can be seen, they promote themselves as the safest way to invest in crypto. 

But when they tell you that hackers can’t have a 4-digit numeric PIN, that tells you enough about their security. Among these few details and encrypted features, there’s nothing else you can expect from them. Most importantly, whatever they say, without adequate licenses backing that up, it’s meaningless. 

Mobile Apps Tell A Different Story

Whether you look at PlayStore or AppStore apps, you can find quite positive details, starting with more than 50,000 users on Android devices and a 5-star rating from iOS fans. 

It doesn’t matter if you opt for Wallace Wallet multi-account options, single accounts, staking, or anything else; you can expect a seamless experience according to app reviews. Sadly, the Reddit comments point out that the apps’ stability is ruined. 

Referral Programs The Key

In general, after numerous MLM schemes, all referral programs look cheesy. Here, you can have three tiers to progress. Each tier should bring you more commissions from the referred users. On top of that, you can complete surveys and get rewarded again. 

And lastly, there’s a reward program if you have a location turned on. The more you move, the more you earn. Even though it all sounds interesting, detailed numbers are not revealed. So, why would you bother with such an anonymous offer? To learn why transparency means everything, check our Max Options Trading and Cindicator reviews. 

Customer Support Availability

Overall, customer support is increasingly shifting to platforms like Telegram and Discord. That’s also the case with Wallace Wallet. Thus, they don’t reveal any operating hours or anything. 

Another key detail is that traders reported support ignoring requests for a while. Certainly, that’s not what you want from a company where your money is. It’s worth noting that the Telegram group has only a bit over 11,000 members. 

Conclusion: Is Wallace Wallet Safe?

Among great Wallace Wallet rewards and user-friendly multi-account apps, there’s nothing so spectacular about them. Not only that, but the proprietary token brings nothing outstanding to users. With too many traders reporting issues, you might as well opt for other options. Of course, it’s your choice, and your money is at risk in the end.

With all that in mind, it might be time to test out other options, such as funded account programs like the ones offered by Funded Trading Plus. This UK-based company has thousands of users, mostly satisfied ones. The whole idea is that traders don’t risk their own capital in the markets. Instead, they use simulated accounts in the first step of the process to get hold of funded account programs. 

Why Funded Trading Plus is great is because you can test all the strategies you want. If it doesn’t work, it doesn’t affect your trading balance. Thus, if it works the company certainly has something from it and so do you. 

With regular payouts and up to 90% profit split, you have quite a good chance for success. Not to mention that capital available goes up to $200K. It’s time to change everything. Sign up with Funded Trading Plus right away. 

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