Freebitco.in as a wallet? - page 3. | Bitcointalksearch.org

ViceOfBTC21

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Quote from: johnwest on May 24, 2017, 11:21:31 AM

Quote from: marlboroza on May 24, 2017, 11:08:08 AM

Quote from: Myfe on May 23, 2017, 02:06:33 PM

Quote from: marlboroza on May 23, 2017, 09:33:02 AM

Would you keep your paper money in other peoples wallet? I don't think so.

If you keep your "paper money" in a bank, it's sitting in an online wallet. There are no private keys for paper money, only the paper money...so if it's not literally in your possession, you don't own it.

Sir, do you live on Mars?
Bank IS safest way for keeping your money and you own it. It is your money.

You can compare it like this:

Bank(paper money) - hardware wallet(bitcoin)
Your wallet(paper money) - online wallet(bitcoin)
Other peoples wallet(paper money) - freebitco.in(bitcoin)

It's my opinion about freebitcoin as wallet, i still like faucet and lottery

If you read the posts then you will see that it is the opinion of most of the members here. Its not a good thing to store your BTC in these exchanges regardless of how much interest they are going to give. Its just not worth it, and Banks are the safest place actually to keep your money and get some interest at least.

Just storing bitcoin in wallet get any bitcoin interest, but maybe with it's price you can profit from them. Security > interest.

johnwest

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Quote from: marlboroza on May 24, 2017, 11:08:08 AM

Quote from: Myfe on May 23, 2017, 02:06:33 PM

Quote from: marlboroza on May 23, 2017, 09:33:02 AM

Would you keep your paper money in other peoples wallet? I don't think so.

If you keep your "paper money" in a bank, it's sitting in an online wallet. There are no private keys for paper money, only the paper money...so if it's not literally in your possession, you don't own it.

Sir, do you live on Mars?
Bank IS safest way for keeping your money and you own it. It is your money.

You can compare it like this:

Bank(paper money) - hardware wallet(bitcoin)
Your wallet(paper money) - online wallet(bitcoin)
Other peoples wallet(paper money) - freebitco.in(bitcoin)

It's my opinion about freebitcoin as wallet, i still like faucet and lottery

If you read the posts then you will see that it is the opinion of most of the members here. Its not a good thing to store your BTC in these exchanges regardless of how much interest they are going to give. Its just not worth it, and Banks are the safest place actually to keep your money and get some interest at least.

marlboroza

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Activity: 1932

Merit: 2272

Quote from: Myfe on May 23, 2017, 02:06:33 PM

Quote from: marlboroza on May 23, 2017, 09:33:02 AM

Would you keep your paper money in other peoples wallet? I don't think so.

If you keep your "paper money" in a bank, it's sitting in an online wallet. There are no private keys for paper money, only the paper money...so if it's not literally in your possession, you don't own it.

Sir, do you live on Mars?
Bank IS safest ~~way~~ place for keeping your money and you own it. It is your money.

You can compare it like this:

Bank(paper money) - hardware wallet(bitcoin)
Your wallet(paper money) - online wallet(bitcoin)
Other peoples wallet(paper money) - freebitco.in(bitcoin)

It's my opinion about freebitcoin as wallet, i still like faucet and lottery

Myfe

sr. member

Activity: 476

Merit: 255

Quote from: digaran on May 23, 2017, 02:57:05 AM

They must've some big reserve to be able to act as a interest bearing wallet, but that could only be profitable for us if we were to deposit large amounts and not a few dollars worth of Bitcoin.

Deep pockets? Absolutely! See here >>> https://bitcointalksearch.org/topic/m.19104276

Quote from: marlboroza on May 23, 2017, 09:33:02 AM

Would you keep your paper money in other peoples wallet? I don't think so.

If you keep your "paper money" in a bank, it's sitting in an online wallet. There are no private keys for paper money, only the paper money...so if it's not literally in your possession, you don't own it.

Quote from: ranlo on May 23, 2017, 11:32:08 AM

What's the fee for withdrawing, though? Or is that free?

I don't have this information at this moment, but I can get back to you. If you want to test it though, proceed through the process and screenshot what appears, what you experience.

ranlo

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Activity: 1988

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Quote from: Soylent on May 17, 2017, 12:25:09 PM

This is the newest announcement on their site:

For a long time they have been offering bitcoin faucet and some time ago new features were added like daily interest as you may already know. Do you think they are trusted enough to hold bitcoins on their website?

What's the fee for withdrawing, though? Or is that free? And keep in mind that there's always a risk here. The only time you truly hold your BTC is when you have the private key and nobody else does (which isn't the case here).

marlboroza

legendary

Activity: 1932

Merit: 2272

To be honest you can use any bitcoin gambling site or any exchange as wallet but it's not really smart thing to do. You don't have access to private keys, and one day you could wake up and see site is down, your bitcoins are gone and than you will come here to cry about your money.
Would you keep your paper money in other peoples wallet? I don't think so.

digaran

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Activity: 1330

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🖤😏

Even web wallets which were designed solely to be a wallet are not entirely safe, this looks like investment, meaning when you deposit Bitcoins there they are free to work with it and earn money then pay you a fraction as interest, if they wanted to let you have access to private keys then why not pay interest on 16.3M bitcoins? because those coins are owned by people having access to their private keys.

They must've some big reserve to be able to act as a interest bearing wallet, but that could only be profitable for us if we were to deposit large amounts and not a few dollars worth of Bitcoin.

ecnalubma

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www.Artemis.co

Not recommended, it feels like putting you're assets without assurance. They have good reputation in faucet but not on online wallet, its just not good to try.

mrcash02

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Quote from: Myfe on May 23, 2017, 12:02:36 AM

Thanks for that link.

Ok, their thread was only created this month so I can only assume that they've copied FreeBitco.in with their plan to pay interest.

Simply put, i'm glad they did. All bitcoin wallets should be paying interest to compensate us all for the trust (and therefore risk) we place with them!

Yobit's rate paid on BTC is higher than FreeBitco.in, but their rate isn't sustainable.

Here are the differences:

They pay 0.2% per day, which equals 73% PER YEAR. This isn't possible, friends, this is absolutely an HYIP. Someone check my math. A daily rate multiplied by 365 days in a year calculates the annual rate, yes?
Their minimum investment is much higher than FreeBitco.in; They require 0.01BTC, we only require 30,000 satoshi

FreeBitco.in's daily rate is 0.0109589% x 365 = 4%. It's lower, but it's realistic. There is zero risk that we won't be able to pay you for the long term.

That said, make the choice that best works for you! Whatever you do...make sure you're getting paid interest from your online wallet!

Quote from: mrcash02 on May 22, 2017, 08:27:11 PM

Quote from: Myfe on May 22, 2017, 11:38:33 AM

Quote from: noictib on May 19, 2017, 10:49:38 PM

I think you made some misunderstanding with yobiy.net exchange because here I am looking that the yobit.net is giving more interest then freebitco.in

How much interest in yobit.net giving you and account holders?

Can you share a link please? Thanks!

Hi, I'm not sure, but probably he is saying about this new option Yobit launched. I opened a thread days ago about it, you can check here, there is a picture too, so you can see how much they are offering:

https://bitcointalksearch.org/topic/yobit-investbox-1922048

I must agree those rates are high, I have my doubts about it as well, that is why I created the thread asking for more opinions about the investment... It was introduced really recently, let's see how that will work and if that will really works.

Anyway, Frebitco.in interest is good too if investor has a good amount to invest and as you are working since 2013 you have already built a positive reputation among the Bitcoin enthusiasts, that is good reason to invest at Freebitco.in.

Myfe

sr. member

Activity: 476

Merit: 255

Thanks for that link.

Ok, their thread was only created this month so I can only assume that they've copied FreeBitco.in with their plan to pay interest.

Simply put, i'm glad they did. All bitcoin wallets should be paying interest to compensate us all for the trust (and therefore risk) we place with them!

Yobit's rate paid on BTC is higher than FreeBitco.in, but their rate isn't sustainable.

Here are the differences:

They pay 0.2% per day, which equals 73% PER YEAR. This isn't possible, friends, this is absolutely an HYIP. Someone check my math. A daily rate multiplied by 365 days in a year calculates the annual rate, yes?
Their minimum investment is much higher than FreeBitco.in; They require 0.01BTC, we only require 30,000 satoshi

FreeBitco.in's daily rate is 0.0109589% x 365 = 4%. It's lower, but it's realistic. There is zero risk that we won't be able to pay you for the long term.

That said, make the choice that best works for you! Whatever you do...make sure you're getting paid interest from your online wallet!

Quote from: mrcash02 on May 22, 2017, 08:27:11 PM

Quote from: Myfe on May 22, 2017, 11:38:33 AM

Quote from: noictib on May 19, 2017, 10:49:38 PM

I think you made some misunderstanding with yobiy.net exchange because here I am looking that the yobit.net is giving more interest then freebitco.in

How much interest in yobit.net giving you and account holders?

Can you share a link please? Thanks!

Hi, I'm not sure, but probably he is saying about this new option Yobit launched. I opened a thread days ago about it, you can check here, there is a picture too, so you can see how much they are offering:

https://bitcointalksearch.org/topic/yobit-investbox-1922048

mrcash02

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Quote from: Myfe on May 22, 2017, 11:38:33 AM

Quote from: noictib on May 19, 2017, 10:49:38 PM

I think you made some misunderstanding with yobiy.net exchange because here I am looking that the yobit.net is giving more interest then freebitco.in

How much interest in yobit.net giving you and account holders?

Can you share a link please? Thanks!

Hi, I'm not sure, but probably he is saying about this new option Yobit launched. I opened a thread days ago about it, you can check here, there is a picture too, so you can see how much they are offering:

https://bitcointalksearch.org/topic/yobit-investbox-1922048

Myfe

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Activity: 476

Merit: 255

Quote from: noictib on May 19, 2017, 10:49:38 PM

I think you made some misunderstanding with yobiy.net exchange because here I am looking that the yobit.net is giving more interest then freebitco.in

How much interest in yobit.net giving you and account holders?

Can you share a link please? Thanks!

virasog

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Leading Crypto Sports Betting & Casino Platform

Quote from: smartbitcoininvestor on May 21, 2017, 02:30:32 AM

FreeBitco.in is one of my favorite faucets. They have an awesome system going on and I don't mind keep a portion of my BTC there to earn interest.

Also they have a badass referral system (link in sig). You can earn from daily claims, interest and dice rolls.

All these features of Freebitco.in explained above are correct and interesting but i think if you consider it as a wallet service, it will not function as a full fledged wallet for you. It lacks many features of a true wallet. Also storing money in faucets site is not safe and i will never recommend this to anyone.

Kotone

hero member

Activity: 1372

Merit: 503

Well this is quite interesting I'm always withdrawing my balance on there website and if this possible to happen and will be successful they already offered a good platform where people will be interesting to stock there coins there if they are going to add some good interest on it depends on the balance.

carlisle1

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Quote from: swogerino on May 17, 2017, 12:38:48 PM

Quote from: Soylent on May 17, 2017, 12:25:09 PM

This is the newest announcement on their site:

For a long time they have been offering bitcoin faucet and some time ago new features were added like daily interest as you may already know. Do you think they are trusted enough to hold bitcoins on their website?

They are trusted until now and operating since February 2014 but this doesn't mean it is a good idea to give your bitcoins to someone else and you not holding the private keys to this bitcoin. Remember that anyone with the private key can spend your bitcoin. It is not a good idea to keep your funds in bitcoin on web wallets that is why Electrum and many other better wallets are created.

I agree, it's still better to stick with the bitcoin wallet services that we are using from the start since that feature or service provided by freebitco.in seems new for us and although freebitco.in has been trusted since 3 years ago it is still not a good idea to put such amount of bitcoin as freebitco.in is actually a different type of service which is a faucet and now looks like a dice site .

ubercool

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Quote from: shadowdio on May 21, 2017, 05:32:12 PM

freebitco.in becomes a wallet? for me No, I do not put all my bitcoin in there as a wallet, freebitco.in is a faucet and gambling site, it's ok if you deposit your bitcoin for gambling or buy lottery ticket or for daily interest.

Regardless of how good the site's reputation is, freebitco is not an exchange or a trading platform so it is not advised to store your BTC in sites like that. The daily interest concept is not new and most of the sites which started this scheme eventually scammed people, so think twice before putting your money into it.

Immakillya

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Freebitco.in is a legit site. But still i don't trust online wallets. Maybe they should keep the site as lottery and faucet site. I think it will be better if they make it as a gambling site. They should add some betting games aside from lottery and faucet. The site is popular already. They just need some innovation. Making the site as a gambling site is a good option.

shadowdio

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Zawardo

freebitco.in becomes a wallet? for me No, I do not put all my bitcoin in there as a wallet, freebitco.in is a faucet and gambling site, it's ok if you deposit your bitcoin for gambling or buy lottery ticket or for daily interest.

nethan1btc

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Quote from: Script3d on May 21, 2017, 07:54:27 AM

how much daily interest do freebitco.in offers if its quiet good i would store my bitcoins there i would trust the website beside they have have 2 factor and the site is been on for a quiet while and i can even gamble there which is nice

You shouldn't do that because if storing btc separated from your personal storage is not that safe. I respected your trust of the site and yet it's your decision to make, but it's much safer if you are storing it in your personal wallet site and you can really have the option to make a withdrawal from freebitco.in to be sent to your wallet. That's a good opportunity to do because some of those ponzi sites were not really sending you satoshi or btc amounts in your wallet, they just kept on wasting our time. To give an advice regarding gamble of small amounts, well it's good as well but don't use that to make sources of bitcoin growth because you might loss it all.

frowsiter

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That would amazing idea. Is it out yet? Having freebitco.in as wallet would be easy to use. Because I play a lot on it and it is always time consuming to place my btc on their website when it comes to playing lottery. Their lottery is top most played game and it needs to be faster. If they implement wallet in their website then the users will also increase. Moreover the earnings will go straight into my wallet and I will not need to pay the withdrawal fees anymore. So more profit I guess.

Topic: Freebitco.in as a wallet? - page 3. (Read 5900 times)