Bitcoin Forum

Freewallet has recently added Stellar's Lumen coin to its list of currencies https://freewallet.org/blog/stellar-is-added  
Any experiences?  What’s your opinion on fees?  Is it profitable to use Freewallet for Stellar now?? Any problems with transaction speed? Thanks.

If you use the forum's search functionality, you end up on a page like this one:

https://cse.google.com/cse?cx=016660200577587308545%3Aesf40ml9aag&ie=UTF-8&q=freewallet&sa=Google+search#gsc.tab=0&gsc.q=freewallet&gsc.page=1

From the first 10 hits for "freewallet", there are 8 that label freewallet as a scam... Now, i haven't opened any of those threads, but the ratio of threads screaming that it's a scam vs "normal" threads would lead me to believe it might not be the wisest decission to use freewallet... Once again: i'm not a freewallet user, i haven't investigated freewallet, but based on the firsts 10 hits on the internal searchengine, i would urge you to use some your common sense

How does using a wallet become profitable.
Besides, I don't know if people still use that wallet from what other's experienced (post above) on having them on their devices. I'll just stay away and use the trusted one for good.

Hidden registrar info - https://who.is/whois/freewallet.org

No info at all about who they are - https://freewallet.org/about

Contact info leads to this - https://freewallet.freshdesk.com/support/tickets/new

They control your private keys, not you. You have to depend on them to give you the coins back.

Scam or not, it's one of the very last wallets out there that controls your private keys. Why anyone would use such a wallet is an absolute mystery.

It's not even listed on Stellar's site and rightly so - https://www.stellar.org/lumens/wallets/

Hello everyone,

It's great to see a vivid interest to the new coins we are launching. Our wallet can proudly list the top crypto coins in its range.

We've tried to address some points made here.

As an active service dealing with volatile and intangible product, our brand often receives a "scam" label (which is aggravated by the fact we don't share private keys with individual addresses).
Scam implies fraudulent and dishonest behavior aiming to get a short-term gain, doesn't it? Let's match this with real facts.
As you can see from the discussion links posted above, we always provide all the necessary assistance to our users and resolve the majority of the requests.

Check this link to find the contact info: https://freewallet.org/processing

Most of the complaints I've seen have been resolved. However there should be no need to resolve a problem in the first place. No one should be using your service. It makes no sense.

What are the advantages to customers of the way you operate?

Hi gentlemand,

We believe 3 mln of users find certain advantages in our service, such as multiple security features, easy in-built exchange, plenty of coins to operate with etc. The main benefit is, however, fast and efficient support service.

Really?
I have coins on my Ethereum address under Freewallet and I don't know if it is supporting ERC20 token which I didn't know, but until now I can't recover those coins. But if I scan my Eth address on Etherscan.io my token is still there. Ain't sure if you are telling the truth about fast and efficient customer support, it's almost a year submitting my complaint ticket but only a bot reply from my Gmail.
For me, good luck for those who used Freewallet. ???

Hi Shane,

The list of the supported ERC-20 tokens can be found here: https://support.freewallet.org/en/support/solutions/articles/9000134815-supported-erc20-tokens

We add more and more tokens as we develop and grow our user database. I will be happy to personally look into your case. Feel free to drop me a message at lauren@freewallet.org with your User ID and support ticker number if you still have our emails in your inbox.

Looking forward to hearing back from you!

- Lauren

on monday i've sent xlm into this wallet and didn't use the message given in the Receive section of the wallet. had to contact the support and got surprised when they solved it in a few hours. so, community, you'd better watch all the messages recieved.

As a person who frequently browses Reddit r/bitcoin, r/cryptocurrency, and some others, never touch FreeWallet.

1. They have access to your private keys(regardless if encrypted or not)
2. They don't give you access to your private keys
3. They're notorious for locking up accounts for some reason and requiring KYC for some reason

Scam or not, I personally won't risk it.

Hello ETFbitcoin,

Our current focus is on users' satisfaction.

We value all feedback and will consider taking steps to better transparency.

Hello mjglqw,

Let us address your points.

1. We are a custodial wallet. You can always restore access to your funds with us. Our assistance is swift and you get a reply within minutes.
2. You still can export and import BTC with our service.
3. The verification procedure is part of our terms and conditions. Recently, we made it more transparent, easy and quick for customers. Mind that such procedures are becoming almost inevitable for the most part of financial services.

FreeWallet is sure is a custodial wallet. Which is why I suggest against using such wallets in the first place, because having a custodial service to handle your funds for you is just an added unnecessary point of failure; not to mention one of the advantages of bitcoin and most cryptocurrencies is "being your own bank". Having to unnecessarily use a custodial service defeats that purpose.

What may seem a "point of failure" to part of users, would be fast and comfortable service for the other part (very significant). We are proud to perfect our developments for this group of customers.

I saw some people have issues with free wallet, but I used freewallet when I am new to crypto, I can say that it is very user friendly, everything is good I made some transaction using freewallet, nothing is bad, except the fee is extremely high. But after I know more about crypto, I surf this forum for a while, I believe it is better to use a wallet that we actually manage. I mean it will be better if we have our private key, and can back up our wallet.

Hi sheenshane,

So far, we have not received an update from you. Have you sent us more details on your transaction? Looking forward to receiving an update from you.

I can't even log in anymore and the one experience I've had with Freewallet was pretty terrible.

https://i.imgur.com/gAv0LHZ.png

I used your service once to get a payout from Minergate, only to find out that I couldn't withdraw my Monero because your added fees were too high.

Hello eternalgloom,

Sorry to hear about your disappointing experience.

1. We recommend you to reinstall the app. Along with that, you always can access your account via the desktop version: http://bit.ly/webwllt

2. Was this transaction planned a long time before? We've cut the Monero fee a while ago.

Please try to sign in your wallet and proceed with the withdrawal. We'll be glad to assist you should you have any further queries.

Hello, sorry for the late response I will send now the full details of my complaint and also my Ethereum address on your given contact address.

The amount of my coins there is not so big but I gladly happy if you help me to recover those coins.

UPDATE: I checked the value of the coins inside address but it looks like turn to shitcoin, I am now lost of interest. :D

You definitely need to read more about wallets to know the risks you're taking when using custodial wallets:

• Topic: [General] Bitcoin Wallets - Which, what, why? https://bitcointalk.org/index.php?topic=1631151.0
• Bitcoin/Cryptocurrency Wallets & it’s Risks https://cryptosec.info/cryptocurrency-wallets/

I never used this wallet because you are not the one who hold the private keys only. I think this Freewallet.org need more year(s) to build trust because I also noticed that there is a bunch of complaint regarding their service. People choosing secured wallet because that is not a joke if you stored your fund out there. As I noticed, why there's generate address? so if you accidentally click that your previous wallet is gone?

Capt00, we absolutely agree that it takes years to build a credible service. This is exactly our goal.
There are indeed a lot of complaints that we do receive as an active service. At the same time, there are plenty of reviews from happy customers.
The situation with the "gone" wallet is impossible: we'll do everything to restore your access. We are proud to day that we never had such cases.

Thanks for pointing this out, I might want to try it but after seeing this post I will stay away from it for now. It's always better to use much better wallet that has a good reputation and you have a control to your private keys.



I think he's referring about fees some wallets charge a huge amount of fees and some has dynamic fees which is good it changes every time it depends on the market value.

A proper wallet can't make any money out of that. The fee will go straight to the miner. It's just bad design if the fee is excessive. Exchanges can make money out of withdrawal fees as could this wallet if it chose to. I haven't seen anyone moaning about its fees.

I don't get how most wallets monetise. Some will shill shitcoins in wallet. Others have referral links for stuff like hardware wallets. Others like Mycelium just make up a token, take your money and then do nothing.

LbtalkL, we are also working on a solution (with one of our apps) that would allow one to have control over private keys.
In the meantime, we are doing our best to offer high-quality service and address each issue being reported.

Best regards,
Freewallet

Hi!

Just wanted to follow up if the issue has been resolved.

Let us know if you have any questions and we would appreciate your update.

Thanks!

" The main benefit is, however, fast and efficient support service."  Really? Should this be the case?
Why should I be using a service which is proud because of its fast and efficient support service? This means many users are having problems with your service and you people are helping them very well. But my question is why do you not work towards reducing or totally eliminating the problems but you are rather  solving the problems on time?

Hi sammyp,

We are getting your point. Indeed, the mentioned advantage (fast support) does not mean that we neglect technical enhancement.  8)

After thirty or so posts I still can't detect any possible advantage to total dependence on the integrity of internet strangers for the existence of your money. 'Fast support' doesn't quite get me as erect as I was expecting.

Hi gentlemand,

We'd summarize it like that:

- A wide choice
- Advanced security
- Convenience

We offer the most popular coins with the in-built exchange function. Several hundred tokens - and more of them are coming.
Our users enjoy multiple security features (2FA on login and transaction, PIN code, email confirmation of transactions) and convenient interface.
(And our support is indeed fast.:)

No convenience and design I do not like.

Um, but you can get all of that elsewhere and more and never have to trust anyone.

I'm sure you're all lovely people. Your service still does not make one shred of sense to me in the slightest in this day and age, nor should it to anyone else.

Freewallet got modern design with clear options, it's easy to use. There's a lot of currencies for transfers too.

Hi gentlemand,

Well, you are absolutely free to share this point of view. Along with that, our service makes sense for millions of users. :)