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Topic: Is freewallet a good? - page 2. (Read 486 times)

copper member
Activity: 2142
Merit: 1305
Limited in number. Limitless in potential.
May 10, 2020, 12:45:19 PM
#10
If you read those replies above, obviously, they don't want you to lose your funds with freewallet.

Then, what exact features do you want with a wallet?

If you want a wallet that has a built-in exchange same as freewallet, then alternatively you can use coinomi which you can buy crypto with a credit card and exchange your crypto using changelly and Totle swap, though I'm skeptical to them having changelly as third-party since there are lots of scam accusation against them same as freewallet.
Also, Edge wallet and Exodus wallet has the same features with shapeshift as its built-in exchange. Note that these wallets mentioned will never ask you for any KYC bulls*ht, that's why I'm recommending them..

But if you want a secured wallet for storing funds without any third-party exchange available, then mycelium, electrum, blockstream green wallet will do, especially hardware wallets such ledger and trezor, though you need to buy them first.
legendary
Activity: 2338
Merit: 1084
zknodes.org
May 10, 2020, 12:13:44 PM
#9
If already have a track record related to the alleged scam as mentioned by some of the members above, it seems that Freewallet does not have to be chosen to be a storage wallet.

It is better to have safer and more secure storage such as Trezor, Ledger, KeepKey and other wallet hardware.

I happen to be using Trezor for my personal wallet and it's safer than wallet software.
legendary
Activity: 2114
Merit: 1150
https://bitcoincleanup.com/
May 10, 2020, 12:09:26 PM
#8
To supplement what @gentlemand said, here's what's stated in their TOCs

5.4.
In case Freewallet detects suspicious activity on Freewallet account, Freewallet conducts AML/KYC procedure for the user. To be sure that nobody has unauthorized access to the users account, We ask to provide all necessary information for verification, including without limitation an ID, photo, screenshots showing the source of all your incoming transactions etc. The User is obliged to pass through AML/KYC procedures, which may be applied to the User from time to time, and provide accurate and truthful information about himself as well as maintain and promptly update his Freewallet Account information in case of any changes.

If you are going to use them, you are basically agreeing that they can suspend your account and freeze all your funds anytime until you fulfill all the requirements that they will ask.

I wouldn't be happy with those kind of terms especially when there are genuine free wallets available.
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
May 10, 2020, 08:49:24 AM
#7
No. Absolutely not.

Freewallet is custodial which means you will be handing total control of your coins to them. Once you've sent them to the 'wallet' you're completely dependent on them to send them back to you.  They can disappear with your coins at any time. You need their permission to get your own coins back.

They can also spring KYC checks on people at any time as they're basically an exchange too. Hiding behind KYC is an excellent way to steal your money.

Anything will be better than there. You won't have any of the above problems with any of the numerous real wallets available.

What coins do you want to store? If you tell us that we can make recommendations.
legendary
Activity: 2380
Merit: 5213
May 10, 2020, 08:07:16 AM
#6
I agree, although is is a open source wallet, https://github.com/jdogresorg/freewallet,
This is freewallet.io. I had never heard of them before and I don't know how reliable they are. The OP is talking about freewallet.org.
I don't think freewallet.org and freewallet.io are associated with each other.


To OP:
As already stated in previous posts, don't use freewallet and if you wish to only store bitcoin, you can use Electrum. But if you want a multi-currency wallet, in my opinion, trustwallet can be a good choice.
jr. member
Activity: 54
Merit: 3
May 10, 2020, 07:54:42 AM
#5
For about 3 years I've been using a wallet that is given for free with Localbitcoins account. I don't keep large amount in it, yet for small amounts it is awesome. Fees for outgoing transactions are small, just now - 0.00003462 btc. There is a fee for incoming transaction though - 0.00010386 btc currently. The wallet is good if want to but and sell bitcoin on the platform. Localbitcoins platform works since 2013 earn money from sellers commission so they are incentivized to keep user accounts safe. Never had an issue with them.

I also used a wallet on Blockchain.com for years with no problem. Although this wallet is the oldest and very popular, so there are many fishing sites and phishing e-mails, you have to be careful and always check url address in the browser. 2FA use is a must as well.
hero member
Activity: 2842
Merit: 772
May 10, 2020, 07:32:56 AM
#4
Freewallet has lots of accusation threads and reviews, so no. AFAIK, they're well known at least for scamming by abusing the KYC policy. If you are looking for a good Bitcoin wallet, go for Mycelium or Electrum. Or, even better, buy a Ledger or a Trezor. Smiley

I agree, although is is a open source wallet, https://github.com/jdogresorg/freewallet, there are some accusations about them:

Freewallet is SCAM
Freewallet.org is SCAM !! DO NOT USE THIS WALLET !![Solved]
FREEWallet.org BIG SCAM, THIEF'S ( Don't use any of their iOS or Android APP )
FREEWallet.org is a SCAM!!(solved)

So I will be cautious using their services, if there is one that I could suggest, it will be Electrum: https://electrum.org/.
sr. member
Activity: 1932
Merit: 300
Vave.com - Crypto Casino
May 10, 2020, 07:05:29 AM
#3
Freewallet advertises a lot but they have been a bad experience for me and most of it's users. There are several accusations of funds disappearing during transactions, most of which might have been solved. But undoubtedly, they were taking a huge fees, much larger than what a transaction would have cost in the past. Currently I have not used the wallet and have seen many people recommend it but with so much better options available, I'd never recommend freewallet to anyone.
legendary
Activity: 1134
Merit: 1598
May 10, 2020, 07:01:02 AM
#2
Freewallet has lots of accusation threads and reviews, so no. AFAIK, they're well known at least for scamming by abusing the KYC policy. If you are looking for a good Bitcoin wallet, go for Mycelium or Electrum. Or, even better, buy a Ledger or a Trezor. Smiley
jr. member
Activity: 51
Merit: 1
May 10, 2020, 06:59:03 AM
#1
I am searching for s good wallet, and I'm exploring freewallet, what do you think about this wallet? I found an interesting article about , it says it has got a new additional features https://cryptogeek.info/en/blog/off-chain-coin-swaps-by-freewallet-and-changelly, is it good? Will you recommend to use it? Maybe, you can advise some other good choice.
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