Freebitco.in as a wallet? - page 6. | Bitcointalksearch.org

Soylent

newbie

Activity: 40

Merit: 0

Quote from: lite on May 17, 2017, 03:52:39 PM

I wouldn't use freebitco.in as my bitcoin wallet neither should you or anyone else. most of the well-known wallets set appropriate fees.

Quote from: sana54210 on May 17, 2017, 01:53:40 PM

Quote from: swogerino on May 17, 2017, 01:38:48 PM

Quote from: Soylent on May 17, 2017, 01:25:09 PM

This is the newest announcement on their site:
[im g]https://vgy.me/lErcB7.png[/img]

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.

Neither coinbase nor xapo allows you to access private keys. There are few significant benefits on using web wallets that is the reasons I am still sticking with xapo even I am fully aware of how risky to keep my bitcoins with someone's wallet.

I would have planned to use freebitco.in as my wallet if they themselves will be paying network fees for ourselves. But I understand we need to pay fees with options to chose from high priority fee or normal or low.

Still freebitco.in as wallet comes with one benefits of gaining daily interests but I am not getting attracted to that.

Xapo will stop paying fees for withdrawals. i think it's time for you to move on to the wallets where you have full control. Wink

Many online bitcoin wallets have bad fee calculation as it's completely outdated (120 satoshi/byte in comparison to 390 satoshi/byte which is average now) and not every bitcoin user knows how high fee should use for their transactions.
Furthermore I think as for now choice from only 'slow' and 'instant' fee on freebitco.in doesn't seem to be a big deal for 'casual' users who've never been changing default fee calculated by most popular wallets.

Cxinbolen

full member

Activity: 176

Merit: 100

Quote from: agustina2 on May 17, 2017, 04:09:24 PM

After their recent profit feature wherein your balance will increase for some percentage over a year, and now offering a wallet? There are lots of reputable online wallet compare to them. I don't care how much trust they build from faucet feature but using this as bitcoin wallet sounds not making sense to me.

Id rather used Coinbase or XAPO here compare to them in terms of security and assets. Freebitco is still for faucet purposes only and not as a bitcoin wallet.

The popularity of FreeBitco.in is what lets them pull this off. Tons of people are first introduced to bitcoin through it, so it's not a total lack of logic that they're offering this. Plus, they want more funds in the wallets hosted by them so that they can have more in the reserves for claims.

agustina2

legendary

Activity: 2436

Merit: 1008

After their recent profit feature wherein your balance will increase for some percentage over a year, and now offering a wallet? There are lots of reputable online wallet compare to them. I don't care how much trust they build from faucet feature but using this as bitcoin wallet sounds not making sense to me.

Id rather used Coinbase or XAPO here compare to them in terms of security and assets. Freebitco is still for faucet purposes only and not as a bitcoin wallet.

Soylent

newbie

Activity: 40

Merit: 0

Quote from: shield132 on May 17, 2017, 03:36:40 PM

Freebitco is pretty known around us, it was first and great bitcoin faucet if I amn't wrong. Their last activities are a little suspect for me. They offered hold balance and get profit, now we see wallet service. BTW they were good and are good nowdays but personally I avoid using them for huge amount of btc, I mean more than 10btc because as everyone has heard, even known and trustful online wallets aren't perfectly secure and freebitco can't offer us premium security.

Yes that's what I thought at first. If they want to go further in this direction they should consider separating faucet and other games from well done wallet (maybe another website?) with basic features and decent security. I mean it would be a long term process but now they are on a good start for that.

lite

legendary

Activity: 1400

Merit: 1009

I wouldn't use freebitco.in as my bitcoin wallet neither should you or anyone else. most of the well-known wallets set appropriate fees.

Quote from: sana54210 on May 17, 2017, 01:53:40 PM

Quote from: swogerino on May 17, 2017, 01:38:48 PM

Quote from: Soylent on May 17, 2017, 01:25:09 PM

This is the newest announcement on their site:
[im g]https://vgy.me/lErcB7.png[/img]

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.

Neither coinbase nor xapo allows you to access private keys. There are few significant benefits on using web wallets that is the reasons I am still sticking with xapo even I am fully aware of how risky to keep my bitcoins with someone's wallet.

I would have planned to use freebitco.in as my wallet if they themselves will be paying network fees for ourselves. But I understand we need to pay fees with options to chose from high priority fee or normal or low.

Still freebitco.in as wallet comes with one benefits of gaining daily interests but I am not getting attracted to that.

Xapo will stop paying fees for withdrawals. i think it's time for you to move on to the wallets where you have full control. Wink

shield132

hero member

Activity: 2352

Merit: 905

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Freebitco is pretty known around us, it was first and great bitcoin faucet if I amn't wrong. Their last activities are a little suspect for me. They offered hold balance and get profit, now we see wallet service. BTW they were good and are good nowdays but personally I avoid using them for huge amount of btc, I mean more than 10btc because as everyone has heard, even known and trustful online wallets aren't perfectly secure and freebitco can't offer us premium security.

BTCLovingDude

legendary

Activity: 1134

Merit: 1010

BTC to the moon is inevitable...

they have stopped being a faucet a long time ago when google blocked their account because they were violating its ToS. and from that time until today they have been struggling to come up with new ways of making money, with the dice games with 5% house edge to lottery and the final thing, the investment! i just hope they can manage to stay above water.

with that said it is a terrible idea to use a web service ran by a third party as your bitcoin wallet. because you don't have control and even if they don't run away you can still get hacked.

olushakes

sr. member

Activity: 476

Merit: 254

If they say they can do it, yes they can. This website is one of the few faucet sites that have stand the test of time by relying on truthfulness and consistency. So far when they started their interest on balance programme, I have not read where they were accused of duping any one but if you are not sure, then you are not forced. Its better to be safe than sorry.

sana54210

legendary

Activity: 3290

Merit: 1128

Quote from: swogerino on May 17, 2017, 01:38:48 PM

Quote from: Soylent on May 17, 2017, 01:25:09 PM

This is the newest announcement on their site:
[im g]https://vgy.me/lErcB7.png[/img]

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.

Neither coinbase nor xapo allows you to access private keys. There are few significant benefits on using web wallets that is the reasons I am still sticking with xapo even I am fully aware of how risky to keep my bitcoins with someone's wallet.

I would have planned to use freebitco.in as my wallet if they themselves will be paying network fees for ourselves. But I understand we need to pay fees with options to chose from high priority fee or normal or low.

Still freebitco.in as wallet comes with one benefits of gaining daily interests but I am not getting attracted to that.

BitcoinFutureCoin

member

Activity: 82

Merit: 10

Better not do that.You should not to use some website like a wallet because it is not.It is only a faucet site so better use a real bitcoin wallet for keeping your money because it is more safe than any other method.

swogerino

legendary

Activity: 3136

Merit: 1233

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Quote from: Soylent on May 17, 2017, 01:25:09 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.

Soylent

newbie

Activity: 40

Merit: 0

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?

Topic: Freebitco.in as a wallet? - page 6. (Read 5855 times)