Bitcoin Forum

This is the newest announcement on their site:
https://vgy.me/lErcB7.png

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.

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.

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.

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.

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.

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.

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.

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.  ;)

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.

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.

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.

There were many accusations in the starting but they now claim that they have been mining bitcoin and stuff and also gace proof of the address were all coins were being mined. It looked legit but when i added some funds in my account in the next 2 hours i received more than 10 emails for a password reset. I knew something can happen so i withdrew everything.

i will not trust that site as my wallet, we don't have any access to their wallet they only third party who can stole our money without any announcement lol, freebitco.in is only faucet to get small bitcoin so i don't think it will good to be a wallet

First of all, freebitco is a faucet cum gambling site and recently they introduced daily interest feature and now trying to boost the interest feature by recommending users to use freebitco as a wallet. They have a good track record, but still IMO not good enough to be used as a regular wallet because using a gambling site as a wallet wouldn't make much sense to many users. Their transactions are not fee less, be it Xapo or Coinbase or any  other wallet appropriate fee is needed for fast confirmations so I do not see any difference.

Their daily interest rate cannot be compared to HYIP sites because it is sustainable. So I think users who are already using this feature might use freebitco as a wallet, but I doubt others would opt for it.

Right now with the ever increasing bitcoin price, the best practice is to avoid web wallets.

Actually it is better to safe inside your wallet rather than put in in other places even though freebitco.in is one of the most popular site, but recently the sites offered investment and then now wallet, so I doubt what is the intention from  this site, if the intention is to make easier transaction then it is good, but I feel a bit strange

Hi all, I thought I should introduce myself. I'm the Community Manager for FreeBitco.in.

Great thread topic here! And I like the variety of opinion in the discussion.

A few comments for you to consider:

(1) Offering interest on your a balance and referring to ourselves as an online wallet are really no different, as soon as you start to hold bitcoin in a single place you're using it as a wallet

(2) The reason we put up the notice about transaction confirmation times is because we want to recognize the latency that exists on the blockchain with some transactions - we offer TWO transaction options:

• Normal: fast as possible confirmation, with appropriate fee for the speed
• Slow: longer duration confirmation, with extremely low transaction fees

(3) We're a business and we need to grow and adapt with the market like every other successful business does

We're paying 4% APR interest - that's 4% on your balance each year and we pay a portion of that every single day. There's no minimum time frame, no contract, and the minimum balance is 30,000 satoshi.

No other bitcoin faucet or wallet is paying interest on your bitcoin holdings. So keep us in mind for the bitcoin you keep online!

Cheers!

I do respect Freebitco.in as one of the most reliable BTC sites I've ever joined. However, I don't see myself using them as a wallet. I would stick to my own wallets like Coinbase and Blockchain. Just sayin' only. ;)

That fee s simply not enough to justify the risk of funds being stolen. They d have to more then double that rate for people to consider using them seriously as a wallet.

Even then, it would be a big IF.

Freebitcoin is the trusted and oldest faucet site in cryptoworld. I'm suprised that they expanding their site to be a wallet service however i'm just wondering how do they make profit since we all know that to get faster confirmation you must provide higher fee, from advertiser or... ? On the other hand The famous free wallet coinbase now charged the fee yeah it's kind of a big chance for them to attract coinbase costumers. Well whatever they do i always support them but if you ask me would you like to stored your bitcoin out there and trusting them, no thanks.

Which i know the freebitco.in site is a faucet site. I'm just telling you to never use an online wallet that is not recommended by the official bitcoin site.

Your email has probably been exposed in some hacked database elsewhere. You can verify it at https://haveibeenpwned.com/. If it is, it's probably a good idea to start using a different email address for everything.

Generally I wouldn't trust any online wallet with my bitcoins. That's really irresponsible and you can totally get burned by doing so. Always, always secure your wallet, that means creating your own hardware wallets that yo are the only one that has control over. Exercise this, and you'll be safe all the way.

Theres no sense at all because what the heck on using faucet site wallet rather than on traditional web wallets? We cant be still sure that those funds would not be stolen by the site even they are known on the market.Its just the same because you will still need to pay up the fees depending on how fast it would confirm.Its just the same because it will still pass on blockchain.

Do you have a checking account with a bank? An online bitcoin wallet is no different. If you go to your fiat bank your money isn't sitting in a safe somewhere, it's just an online record of what the bank owes you and a promise to pay you back.

I realize that fiat banks have insurance and government intervention and such, but it's still just based on the trust you place in that bank that if something bad were to happen they'd honor the insurance they promise.

Online wallets have great uses...and obviously each person has a different threshold with the trust they need to use bitcoin, use an exchange, use an online wallet, and so on.

Whatever your threshold is, know that we're the only online wallet option paying you interest for the trust you place in us.

BTER has also something similar running for a while. It's by far not as popular as freebitco.in, but the option is there for those intereted.

In both cases people can withdraw their funds at any time. BTER only relies on one source to provide people the promised interest, while freebitco.in has its gambling platform, plus mining aspect.

I am fairly sure that there are a few more options, but in both cases it's a matter of trust.

This is my first ever faucet and still the best on for me and yet they open other services for us who kee using freebitco.in and i will say say i can trust them by my bitcoins if they will lay us for holding coins there by percent much better it is like were going to invest.

No it's different.

In the first place I will choose a bank that already built a strong foundation throughout the year. Banking industry here is strong. In case of an irregularity, I can sue them and surely I can get back some of my funds because of their sold assets. If ever there will be an irregularity in your part, can we sue you? We didn't know your identity too. What is the assurance? Only trust? If that is point then I will put my trust instead in those popular web wallets today.

Apology for critisicm but it's part of the business. I just state my side. Still up to the person if they will use this site as a wallet but for me, a big NO. But still using their faucet because I have some active referrals there. Just this wallet thing is my concern.

That is the point I am also thinking about investing with them, because I am already holding some balances in my freebitco.in account and earning daily interests. Now I why not I just move funds from my other web wallet so that I can earn some interests at the same time I will be availing all the benefits of using a web wallet.

By looking through the reputations, they are maintaining till date I believe they may grow as another popular web wallet provider along with inbuilt faucets and gambling facility, sounds great, right?

That would be nicer to see at them if they would provide a web wallet version for themselves but aslong as they remain as fauce-gambling site well i think lets do some proper precaution upon deciding it to become our alternative wallet since even those reputable site can turn down as scam. So we should not put our 100% trust on them so that we will not end up horrible here.

Hm, Bitcoin wallet which pays interest on users ballances. At first look, it sounds interesting. It's smart move made by Freebitco.in owner. If more users will hold funds here, Freebitco.in will be able to expand their mining operations and earn more profit (and share part of profit with users). It's win-win situation for website owner and their users.
I deposited some bitcoins to earn interest, but I don't think that I will use Freebitco.in as a wallet. Freebitco.in is my favourite bitcoin website, but their primary function isn't a wallet. Also, it's not good thing that website sometimes goes down.
But I like that Freebitco.in always adding more interesting features to their service to get more users. Lottery, reward points, daily interest, web wallet function. It's interesting what they will add next.

That is correct. They are started to investing money in mining business so all these stored coins they may move to that business and we all know how risky mining business. Even though we are not directly involved in mining but if site losses big amount then surely it will impact on all the users. Also, it is gambling site so not recommended to keep your coins on any gambling site. Don't fall on those small interest they offer on your coins, just keep your coins with you safely.

For those people who already made it then better they must think the risk they are facing of since as far as we know freebitco.in is just a faucet/gambling site and not a wallet! And how could people think that they can make it as alternative one while in reality we have so many trusted wallets who existed right now so its useless to think on why we would trust them for handling our main balance.

I can say that i will not store my bitcoin here because they are third party so they can still close enought o send our bitcoin. Well as of now they our trusted since 2014 and not having some bad feedbacks as of now. Much better to use Electrum or any trusted here enough of many users

There is literally no need to use freebitco.in as a wallet, they advertise as good wallet because their transaction fee will be higher than other wallets use.
Which is totally bullshit, because you can use your own custom transaction fee with most other wallets, even other online wallets  i.e blockchain.info  allow you to set your own fee.
If I had to pick one online wallet and use it, feebitco.io would be way down on my list of good wallets.

But you receive passive income just by letting your money laid there. Small income, but better than another online wallets which doesn't provide any daily income... Online services always present risk, but Freebitco.in is alive since 2013 and there aren't complaiments about their service. I believe the risk you take by using another online wallets is the same risk you take by using Freebitco.in as wallet.

A very valid concern.

If you're concerned about solvency, about us having enough funds to cover deposits you can check the balance of FreeBitco.in's wallet. Here's just a little something to prove that we don't really "need" the investments: http://www.coinig.com/?adr=12Q18uwjHJo13UCws46xKyyeuZomZwdywB&msg=Bitcoin+address+owned+by+bitcointalk+user+wetsuit&sig=G0MOX5pavwdw260GHWeOfiL14on8%2FwF6A8gcFTxyPCxbBJMzT5aN%2Fya%2BFLAhwE9y1f6HitkmqOeDaLWdYZZpCt0%3D (http://www.coinig.com/?adr=12Q18uwjHJo13UCws46xKyyeuZomZwdywB&msg=Bitcoin+address+owned+by+bitcointalk+user+wetsuit&sig=G0MOX5pavwdw260GHWeOfiL14on8%2FwF6A8gcFTxyPCxbBJMzT5aN%2Fya%2BFLAhwE9y1f6HitkmqOeDaLWdYZZpCt0%3D)

Take the verified bitcoin address in the link above to https://blockchain.info/ (https://blockchain.info/) to check the balance, and therefore FreeBitco.in's solvency.



Please don't make accusations in the absence of facts. This claim just ins't true.

Our transaction fees are competitive, in fact we offer two different withdrawal transaction types. I think I mentioned them in a previous post on this thread, but I'll explain them again:

• Normal: transactions are always sent with an appropriate fee for fast confirmations
• Slow: a very low transaction fee with a longer confirmation time, for the transactions where speed isn't a priority

Keep the questions coming, i'm here!

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 and also we can use the code system for the transfer of Bitcoin from one yobit account to another yobit account without any charge so here I would like to use yobit where I can trade with my Bitcoin and also can make transfer from one yobit  account to another without any transaction charge .
So here I can't give priority for the use of frerbitco.in , and also if we can pay the fee 200+ sat/ byte then we can easily get confirmation within the 15 minutes to 1 hours .

Yes, I can understand. As per current bitcoin tx fee trends, we cannot blame any wallet service providers for letting us to pay higher fees. Because yesterday's optimum priority fee becomes today's low priority fee and to make sure to get quick confirmation wallet providers need to be in average of low and high priority fees.

I read blockchain.info is not loading any of wallet information into their server without encrypting. All wallet related sensitive information are encrypted within client-side browser itself. Do you maintain any similar protection for better security so that we can be sure further to think about using freebitco.in as another web wallet.

Freebitco.in has SSL and 2 factor authentications also maintains 99% up time.
What else you need to consider them as a safe web wallet ? Do not compare it with other existing wallets. All the existing wallets are not providing same set of security features.

You are right but xapo and coinbase don't pay interest for holding your coins. Freebitco.in is one of my first faucets, and they are still here, with this upgrades in this year they offer something new and time will tell how much will people be interested in this kind of service.
I don't have my money there, and 4% year interest is not for my little amounts, but as I said time will tell will they grow in some bank or wallet, this is a free world and they ate making progress I wish them luck.

No one will share their private key for bitcoin transaction to members but Freebitco is completely different from the other wallets like Xapo and coin base. Recently they started sharing an interest for the members who are maintaining their balance in the wallets but nobody don't how long this can sustain.

Yes, they do not share private key but using the freebitco.in is okay if you do not need features like blockchain.info. They are not really a wallet service so if you want to withdraw you cant withdraw some portion of the money, it will withdraw all to your wallet. You cant use it to send it to other person as it will withdraw to your own wallet only.

Its not a good idea to use freebitco.in since its a faucet site. we you use it as wallet we do not know if they can stay alive for a long time they only have faucet and lottery and dice game other than that i think we can't see that they can stay for long time..
Since they only have 1 advertisement that can sustain there site to stay long..
The only thing that i can suggest better to use a real wallet  like ethereum maybe good too use also are coinbase for webwallet but the new theme  i think they have bugs due to can't make any sign of the address..

Freebitco.in is mostly known as faucet site so it will more reasonable if our activity only gambling purpose. Yes, its more popular, trusted since it alive but that's not mean we need to put all our money only for receiving interest or others. That's not make a sense.

I don't have any problem depositing there and even receive some interest but my issue is with myself as I can't control myself when I see the option to play dice HI or LO and every time I did deposit there I lost eventually, however if they provide me with private keys to the addresses generated in their site I might consider depositing 0.5BTC but if I were to deposit 100 or more bitcoins just for the interest? no way.
Besides you could even manipulate the fee in blockchain.info not to mention electrum.

Freebitco.in now pay interest,you can collect point and buy different bonuses also you can participate in lottery.I think is the most complex faucet.

I also agree that freebitco is one of the best faucets and it is paying on time from many years but now they are paying interest to the members who is maintaining the balance. But completely I don't have positive opinion on freebitco because we don't know what is going to happen in future.

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.

Their reputation as faucet is quitely good for quite years but i don't know if they will be good also interms of becaming our alternative wallet. And although theirs an interest upon staking at them but the question there is where do the interest came from? maybe they can escalate to tell us on how those thing works at their site.

Maybe their are some guys their thinks that freebitco.in well be a nicest wallet for them if they would used it since it can give them some interest if we will put some BTC on their but they doesn't aware on the risk they are facing on since any reputable site can be turned down if the accumulated money will be so huge.

And better if we just leave this site as faucet and don't ever think that it could be our second option on everything.

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

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.

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.

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.

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.

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.

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 .

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.

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.

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://bitcointalk.org/index.php?topic=1922048.0

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!

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.

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.

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.

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.

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).

Deep pockets? Absolutely! See here >>> https://bitcointalk.org/index.php?topic=1922196.msg19104276#msg19104276 (https://bitcointalk.org/index.php?topic=1922196.msg19104276#msg19104276)


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.


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.

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 :)

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.

Banks are only safe when the economy is decent or better. Good luck getting your money out of a bank during a crisis.

Overall, if you have plenty of BTC and diversify appropriately (meaning you don't put all your eggs in one basket) then I don't see a reason why not to earn interest from FreeBitco.in (https://freebitco.in/?r=4349778), considering they have a neat faucet and referral system going on as well.

Don't forget, if holding and storing BTC isn't your thing you can also earn interest from giving out loans to other people with BitBond (https://www.bitbond.com/?a=3XR36YADDF).

For you and me it's not worth it, but there are enough people that aren't looking at things from our point of view. If you browse through the forum, then the far majority of the lower ranked members are constantly looking for ways to increase the number of coins that they have. One person tries it through cloud mining, the other tries it through ponzi and hyip schemes, and others just go for services offering interest over their coins. They discard all possible risks because their greed is blinding them.

Is it out yet? Why aren't they making nay progress in the wallet thing. Last time I posted was like a week ago that it would be immensely great to look my exchanger, my gambling site, and my free bitcoin giver turns into a straight wallet. Gambling straight from my wallet and putting wining back to my wallet on the same node would be easy. It will be less time consuming as well no more fees I guess.

It's out! It exists! The user interface is exactly as it was before!

FreeBitco.in as been functional as a wallet for a few weeks/months now! However we just recently added functionality on the withdrawal side to allow two different outbound transaction "speeds" with appropriate fee levels to match.

The transactions are engaged through clicking on "Deposit" or "Withdraw".

And obviously we're paying you interest on your balance and commissions on the interest earned by your referral network.

What other features were you expecting to see? Changing the UX takes time.

Very well said and a very nice comparison. Even on web wallets itself i dont any have trust on using and storing large amounts of bitcoin thats why i decided to always put most of my bitcoin on cold wallets because i do feel much safer in this state but entrusting my bitcoin on Freebit.co would not be possible and i would rather choose up blockchain than on this one and i dont care if theres interest on storing it,doesnt matter at all.

I have not tried it but I would not keep my funds with any site unless I need it for day to day transactions. We have already experienced hacking major incidents in last few years so maintaining a cold storage is my first priority to hold funds for the long term (which I am not likely to spend at least in next in few months). I generally use blockchain with 2FA enabled on it for regular low valued transactions, I am not sure if this site has that option or not.

@Myfe, community manager:

May I suggest you to add this to FAQ:

Q: Can I choose how much fee I would like to pay?
A: NO, but you can choose between very high and very low fee.

Q: Do I have access to private keys?
A: NO

Q: In case of choosing low fee, does freebitcoin send coins immediately?
A: NO, you have to wait some time.

With all this said, how is freebitcoin a wallet?

Better that they already think about it this is why im asking them a when i was about to visit them and sees my balance how if this faucet with gambling became a wallet and they will pay for the interest for every people will deposit there bitcoin there but i think it will be risky. Take full responsibility on every move you made its hard to regret at the end.

Comments like this one aren't fully thought through.

When you give your money a bank they combine it with all other deposits and then loan most of it out. If those loans aren't repaid your bank doesn't have the money to pay back the deposits.

If you don't have your fiat money in your physical possession. Or if you don't have the keys to the safe within which your money is sitting. You don't own fiat money.

Anyone who says "if you don't have the private keys you don't own bitcoin" AND doesn't see the same reality in the fiat banking system is either naive or intentionally ignoring reality.

When your money to your bank it is no longer your money. It becomes numbers on an account record as an amount owed to you by the bank. Same applies to all online bitcoin wallets.

Although Freebitco.in had been in existences for along time and well trusted site nevertheless that should not mean that bitcoins should be kept in their wallet, beside freebitco.in is faucets sites, If the site crashes then one will loss all his deposit in their wallet. Transactions delays being witnessed presently in blockchain will be surely be sorted out with time It's better to keep our coins I well secured wallet.

They are trusted s long as any unregulated on line business can be.play with the site, take advantage of the interest , gamble a bit but always be aware that the only trusted wallet is the one you control your private keys! Exchanges are not wallets, third party online wallets are not 100% safe and a gambling site isn either.

I've been holding some bitcoin with them for some years now, I even forgot about having them there.. Logged in a few months back to discover the referrals and interest got me around 10x what I had left in there :D

They can definitely be trusted (for now), even though I'm pretty sure their HI-LO is a bit rigged, I managed to lose 35 times in a row at their HI-LO (2 payout, alternating hi-lo bets).. I wonder how many more users noticed that too

Oh god. I wouldn't trust them, and this is very fishy. Does this mean that they might perform and exit scam? It's hard to tell, but I'd be extremely wary. There's a reason no other site provides interest, because it simply doesn't make sense. The interest is either so little it will never make a difference to you, or they are trying to amass as much Bitcoin as possible in their hot wallet, which you assume you have control of. You don't.

They have no incentive for you to keep money on their site, besides you having to log on and check your wallet balance and looking at their ads.

We can definitely say that its a win win situation for them and no site would really give their free service without any in exchange.Its really very risky to think off on using their wallet instead of ours and we dont really have the full control of our funds which means if they would plan to exit scam then the thing we can do is only cry and regret why we did trust them.They might be reputable but the chances or risk of losing our coins is there always.

It's all about the risk to reward ratio. In this case, for me personally, the benefits do not outweigh the potential risks, but for others things might be completely different.

It states that people can freely withdraw their funds at any time, but this is nothing more a relative term/statement. It will start to form a problem once everyone starts cashing out at the same time.

That directly raises an important question for me ~ how does freebitcoin plan to act in such a situation? Does freebitcoin at all times have enough liquid reserves to allow an all-cash-out scenario?

Did someone already make a withdrawal to check the fee they charge?

Fee is already provided when you are choosing an option:
- Slow
- Instant
I used both and it's been always as mentioned before transaction.

If we kept our money in a site its much better to have a better profit gains behind saving funds and yet you don't benefit within a long time like holding it in a wallet site. You have no proper assurance of your funds if you use and stack your btc balances with the sites custody, possibility of getting scammed is always there and you have no control over it.

I love the diversity of opinion on this thread and the forum...it's what makes this forum a good place to spend time!

And I want respond briefly, as the FreeBitco.in Community Manager, to the two comments quoted below.

If you keep any balance with a faucet, gambling site, or online wallet, you should demand that you receive interest in exchange for the risk you take in trusting them with your hard earned Bitcoin.

FreeBitco.in realizes the risk you take leaving your funds with us in an online wallet and that's why we believe you deserve the 4% interest paid to you (and the 25% commission on interest earned by your referrals).



PS: "Win Win" means that people on both sides of the transaction are winning, in this scenario that would mean us (FreeBitco.in) and you. We appreciate each and every one of you.

I know about this site from mid of the 2014 year and also it was the my first site to make earning of the Bitcoin in Satoshi :) .
And also this was the first site where I lost my first earning of 0.001btc just for gambling .
But still here I can't believe that we can get best feature in the freebitco.in then in any other because in the block chain we can pay the manual fee for the transaction and also we can use the recommended fee for the transaction ( low , normal , high ) and this proves also best according to its quality of the confirmation timing according to the fee they we pay which is recommended by the wallet .
So instead of the freebitco , I will use bloclchain only  or even if I need then I will deposit my Bitcoin in yobit exchange because I can use to it code Thier for the direct transfer without fee ( yobit to yobit ) .

@Myfe, why did you take the time to respond to other posts, while you completely ignored mine?

Is it because you know that there aren't any liquid funds to support everyone cashing out at once? Because after all, the funds that people invest/store with freebitcoin, get invested and used to supply the bankroll.

That's why it's an important question. ::)

He 's looking for the answer, seems to take some time... . ;)

Freebitcoin offers around 50 % affiliate share and comes with multiple and automated tools. Its a must have wallet if its true as you can not only store but increase your sum.

Maybe i will give a try in the future freebitco. in as wallet five years from now grow some deposit with fair interest and no withdrawal fees.  :)

Even though they are a very trusted faucet operator, I still wouldn't store my private key on their online wallet. The operators can easily run away with everyone's money if they wish to do so, so why take the risk when sites like blockchain.info exist ?

Have you looked at the bitcoin address linked to their mining operation? How many banks, do you know of that would be able to pay out everyone,

if there are a run to the banks? I can tell you... ZERO. Banks close their doors when that happens.... like it did when it happened in Greece. So

let's be fair... when we make statements like this.... given enough time.. they will pay out everything that was deposited.  ;)

@BitHodler, I didn't see your question until you called it out to me today. Thanks for letting me know that it was hanging out there.

Did you see the proof of bitcoin balance in Wetsuit's FreeBitco.in wallet? (If not I'll reference that post in this thread). That balance demonstrates the "cash on hand" and at this time exceeds 3000BTC. What it doesn't discuss is the total of all balances, the liabilities. I'm not sure that it's appropriate to share that number because it's confidential to the business. But, I'll bring it up with Wetsuit to see if it would be appropriate to share.

Additionally, are any other faucets or online wallets sharing that the amount of their bitcoin reserves and the value of all the account balances held on their platform?


Here's your question for everyone to reference:

Point is : since there are no rules in this, we only can trust on good intentions. And as in all money questions declared intentions and real behaviour can be a totally different situation... .

That still doesn't give you guarantee that they won't scam or anything, even the biggest and reputable websites did it in the past.
I personally only trust my coins to be in an offline wallet if not actively investing them

To address questions about solvency and security:

This is our cold storage address: https://www.blocktrail.com/BTC/address/12Q18uwjHJo13UCws46xKyyeuZomZwdywB (3,003 BTC)

Signed message: http://www.coinig.com/?adr=12Q18uwjHJo13UCws46xKyyeuZomZwdywB&msg=Bitcoin+address+owned+by+bitcointalk+user+wetsuit&sig=G0MOX5pavwdw260GHWeOfiL14on8%2FwF6A8gcFTxyPCxbBJMzT5aN%2Fya%2BFLAhwE9y1f6HitkmqOeDaLWdYZZpCt0%3D

Mining address: https://www.blocktrail.com/BTC/address/176sh81PQupUsFyX6hNL2PTYydSuL7Wu73 (currently 376 BTC)

Signed message: http://www.coinig.com/?adr=176sh81PQupUsFyX6hNL2PTYydSuL7Wu73&msg=This+is+the+FreeBitco.in+mining+address+where+payouts+from+our+mining+operation+are+received.&sig=G%2F9zZX%2BeSDxwZ78L9IIpEabi2BDdzAH67%2FmGRxozOsSdWxWhunooqPEBlEVKdkS735hN%2FAbYTXssD57TLsrSO5k%3D

Section from the EARN BTC page on the website specifying how we store coins:

Do any of you know a bitcoin cash (BCH) wallet that gives you interests like freebitco.in???


I trust my bitcoins to freebitco.in and i get interests, but i need a BCH wallet too.


I wish freebitco.in supports bch soon.

We did keep some balance with FreeBitco.in and indeed received interest on it.
Withdrawals are available on an instant basis, so if you are concerned FreeBitco.in would collapse in the next hour just withdraw your funds now.

FreeBitco.in can be an excellent source to store a certain amount there ....
You are not supposed to keep your life savings in one place, you should always diversify.

So if you got $10, $100, $1000 - up to your financial ability - which you can afford to keep aside - then by all means keep it with them and enjoy the 4% annual rate.

Whatever you do - good luck with your choices!

PS those of you who say Coinbase is safer than FreeBitco.in are probably living in OZ land ... Coinbase is not user friendly as FreeBitco.in, simply not ... if you use a Blockchain wallet then that is probably safer than both options - but go to BuySellAds and you would see Blockchain.info selling ad space on their site - so they can disappear as well or they are much more prone to regulation ... so in the end of the day there is no black & white ... what's today is good for you can drastically change tomorrow.

The fact the 4% interest is paid on a daily basis with no contract is a no brainer by all means.
Only haters can say no to that, and it's not even our site and yet we do stay behind them in regards to this feature.

I know you all have been waiting a while for this news, thank you for your patience!

You can now exchange your Bitcoin Gold for Bitcoin on the FreeBitco.in site. Soon we will also allow you to exchange that Bitcoin Gold to another wallet, if you don't wish to exchange it. The details on how to conduct the exchange are below and you can find the link prominently displayed on the Free BTC menu page within your account.

If you have any questions - feel free to list them here or PM me.

The biggest temptation if i use freebitco.in as a wallet is i can't avoid to play hi lo  >:(

Why the cold storage address is getting empty??? Are they changing it or what?

On my side I would like freedoge.co.in to propose that. The site is poor compared to freebitco.in.


Ah, ah ! Don't fall in the trap !  ;)

Next time, they will put "Balance should be 10 btc before you can withdraw".
Good luck to those that are prepare if they will lose their btc.

Great balls of fire! We're rollin in the deep on an EPIC Rewards Points bonus weekend >>>>> 5x Rewards Points starts tonight!

For the entire weekend, we'll pay you 10 Rewards Points for a free roll, 5 Rewards Points for a multiply roll activity exceeding 1500 satoshi, and 5 Rewards Points for a referral roll!

Who's coming with me?

Follow us on Twitter to get more announcements of great promotions > https://twitter.com/freebitco (https://twitter.com/freebitco)

Verification of the balance of funds FreeBitco.in holds to back users accounts. Here are links to a signed message from wetsuit, verifying the FreeBitco.in bitcoin address and a link to the balance, via blockchain.info.

1. Signed message verifying address 1Fu3iBR2EMQWeYGi3XvrPmcPUkne8ZWj9h belongs to wetsuit/FreeBitco.in. http://www.coinig.com/?adr=1Fu3iBR2EMQWeYGi3XvrPmcPUkne8ZWj9h&msg=Address+controlled+by+wetsuit%2Ffreebitco.in&sig=HIsNlN9p%2FLBd%2FmU4KaooHzPqrpo000LfXZcj%2BLli%2F1JzTc7j2S7T1Rmone5LDFSLeQLvTU1dkbMulDKW6u6EWic%3D (http://www.coinig.com/?adr=1Fu3iBR2EMQWeYGi3XvrPmcPUkne8ZWj9h&msg=Address+controlled+by+wetsuit%2Ffreebitco.in&sig=HIsNlN9p%2FLBd%2FmU4KaooHzPqrpo000LfXZcj%2BLli%2F1JzTc7j2S7T1Rmone5LDFSLeQLvTU1dkbMulDKW6u6EWic%3D)

2. Wallet balance via Blockchain.info: https://blockchain.info/address/1Fu3iBR2EMQWeYGi3XvrPmcPUkne8ZWj9h (https://blockchain.info/address/1Fu3iBR2EMQWeYGi3XvrPmcPUkne8ZWj9h)

Recently, someone raised concern that the previous FreeBitco.in address was empty. Funds were move to a new address and now you all can verify the balance. This wallet should contain 90% of user balances at any give time.

If you have any questions - feel free to list them here or PM me.