Freebitco.in launched a new feature.

[Barbut]

I received mail yesterday from freebitco.in, here is the mail:

"Dear FreeBitco.in user,

We are excited to announce a launch of a new feature - a bitcoin savings account!

You can now earn 4.08% annual interest (paid and compounded daily) on any balance that you hold in your FreeBitco.in account, without doing anything!

All you need to do is mantain a balance of at least 30,000 satoshi (0.0003 BTC) in your FreeBitco.in account and we shall pay you compounded interest on your full balance everyday. There is no lock-in period to earn interest (you start earning interest right from the first day!) and your balance can be withdrawn any time you wish. Treat your FreeBitco.in account like an instant-access savings account to hold your excess bitcoins and earn passive interest on your account balance everyday.

Read more about this feature at https://freebitco.in/?op=home&tab=earn_btc

If you cannot remember your password, click the LOGIN button in the home page and then the FORGOT PASSWORD? link to reset your password.

FreeBitco.in - Win free bitcoins every hour, no strings attached!"


This sounds promising! I don`t know how much can this work, this way of saving. Generally I don`t like this schemes, but freebitco.in is here more then I`m, and their site was active before (I don`t know for last 6 months), can this be something good and positive?
I don`t have any coins there, but I plan to deposit some just to see does it work.
Any thoughts?

[tiggytomb]

That is interesting, I wonder is there a limit to the amount of bitcoin you can store there.
They could struggle to fulfill this if you had a lot  people with a few bitcoin sitting there.
Also I am not sure on how secure they are although I have never heard anything about them being hacked or attacked and they have been around for years.

Certainly worth keeping an eye on their thread to see the feedback on this feature.

[btcdevil]

That is interesting, I wonder is there a limit to the amount of bitcoin you can store there.
They could struggle to fulfill this if you had a lot  people with a few bitcoin sitting there.
Also I am not sure on how secure they are although I have never heard anything about them being hacked or attacked and they have been around for years.

Certainly worth keeping an eye on their thread to see the feedback on this feature.

Freebitco.in site is running from long time and they are still favourite in faucet world, this is their one more step in new feature to their site, other features are lottery system, dice game. they have full details about this new option with full security and have given full detail about it.

[azguard]

Concerning this i receive same mail the log on my account to see this. Apparently at the end of this week it will be distributed if i got this right. Then you/me/users will have increase of 4% if balance is over 0.0003. Mine is good so far i didnt log for 2-3 weeks seem like my ref are doing good job cu i have over 0.005. Let see if this feature becomes good or bad.

[ultrloa]

The question is does the owner lowered down their house edge? well if not it is still the same as the old ones who still get high chance for us to lose in their games, They should fix that category first so that they will be trusted.

[DarkStar_]

Concerning this i receive same mail the log on my account to see this. Apparently at the end of this week it will be distributed if i got this right. Then you/me/users will have increase of 4% if balance is over 0.0003. Mine is good so far i didnt log for 2-3 weeks seem like my ref are doing good job cu i have over 0.005. Let see if this feature becomes good or bad.

Annual = yearly. You would get 4% profit if you kept your funds there for 1 year, so it isn't that much profit. 4% a week would probably indicate that they are a scam or going to scam.

The question is does the owner lowered down their house edge? well if not it is still the same as the old ones who still get high chance for us to lose in their games, They should fix that category first so that they will be trusted.

House edge has nothing to do with trust. It's stated, so if you gamble, you know what you are going in for. wetsuit probably has a low tolerance for variance, so he decided to use an high house edge.

Don't play if you don't want to.

[~Bitcoin~]

Yes they are trusted and it is quite nice to see they are trying to offer some legit investment scheme for bitcoin holders. But personally i don't like to store bitcoin anywhere online, specially in wallet like they have where you will not have full control over your bitcoin addresses.

If anybody want to earn interest than its better to active 2FA they have.

[Pamadar]

Yes they are trusted and it is quite nice to see they are trying to offer some legit investment scheme for bitcoin holders. But personally i don't like to store bitcoin anywhere online, specially in wallet like they have where you will not have full control over your bitcoin addresses.

If anybody want to earn interest than its better to active 2FA they have.

that's the first thing to do mate, making sure that security is always activated since its your money you are staking from that site, nice idea for freebitco.in giving their members an opportunity to make some investment and make a good compounding rewards, but in the end we are still needed to invest the money that we can afford to lose.

[BitcoinHodler]

ever since Google AdSense blocked their account and no longer allowed them to use their advertising network, they have been trying way too hard to bring in more people and make money in other ways. from the lottery to rewards and all that weird stuff.

with this, they are officially desperate for money, if you want my opinion. although kudos to them for being the oldest faucet which is still big and around.

i just hope they don't scam people and run away!

[thebatletbet]

gambling site, dice site with faucet system can give return flat 4%/day(youre write about daily) but if 4%/yearly is very low  i think is not good service
because is very high return
majority in gambling site investment use bankrool system only use profit share not use return flat profit

[mrcash02]

Nice service indeed. Yes, This sounds promising! But talking about hold our FreeBitco.in, to get earn 4.08% annual interest on any balance, without doing anything! In my opinion, it doesn't no longer safety to hold our BTC such of online site while we're already worried to use our online wallet. However, will keep an eye on this new feature.

We have always some fear about it. But you can use your faucet and gambling earnings in site to earn income from that. Or you can deposit an amount of BTCs you are afford to lose, an amount that you won't need later, like the money you use to gamble. They say the BTCs are well stored in paper and trezor wallets and all we need to do is to set a strong 2fa password...

[LittleBitFunny]

Well it's not necessarily suspicious fortunately - this is about as high as returns can get while being legitimate.  It does say that a part of your funds is used for user payouts though.  This is extremely vague and could be indicative of a long-term Ponzi scheme - they should definitely clarify that the funds are only used to fund payouts in specified circumstances.  Freebitco.in might be quite a trusted faucet but no site is ever 100% safe and for all we know this could be a desperate plea for money before they fail.

Freebitco.in needs to be more specific about the amount of funds that are used for mining and the other things that they mentioned.

[jack1111]

The interest rate is very low, 4% annually? Who will freeze his money in a site for 4% annually?
I think they should add more games if they want to attract new users, it is better than a low interest rate, while there are tons of investments programs that accept Bitcoin.

[Assman]

The interest rate is very low, 4% annually? Who will freeze his money in a site for 4% annually?
I think they should add more games if they want to attract new users, it is better than a low interest rate, while there are tons of investments programs that accept Bitcoin.

4% is a terrific rate, actually

[favdesu]

The interest rate is very low, 4% annually? Who will freeze his money in a site for 4% annually?
I think they should add more games if they want to attract new users, it is better than a low interest rate, while there are tons of investments programs that accept Bitcoin.

4% is a terrific rate, actually

absolutely, plus you'll get payout every day = compounding. AND you can always withdraw, which is a huge plus.

[0xfff]

Uhhhh. How is this funded? How is that btc being invested? I don't think this is a good idea. This means that withdraws won't be instant?

[favdesu]

Uhhhh. How is this funded? How is that btc being invested? I don't think this is a good idea. This means that withdraws won't be instant?

how about you follow the link and read the terms?

[DarkStar_]

ever since Google AdSense blocked their account and no longer allowed them to use their advertising network, they have been trying way too hard to bring in more people and make money in other ways. from the lottery to rewards and all that weird stuff.

with this, they are officially desperate for money, if you want my opinion. although kudos to them for being the oldest faucet which is still big and around.

i just hope they don't scam people and run away!

Not really, wetsuit has quite a bit of BTC. He hit 2 blocks solomining recently, and has/had 100+ BTC in his personal address very recently. My guess is that the investments are being accepted to allow a larger gambling bankroll, and that Freebitco.in will be operating on a fractional reserve as it's a low chance that everyone would withdraw at the same time.

[0xfff]

Uhhhh. How is this funded? How is that btc being invested? I don't think this is a good idea. This means that withdraws won't be instant?

how about you follow the link and read the terms?

There is nothing on the page that mentions it. Why do you think I asked?

[JanpriX]

I also received this same email from them yesterday. Right now, I'm still contemplating on whether to use it and set aside my unused bitcoin there. That feature is great if you have any bitcoin that's burning a hole in your wallet. 4% is still a profit/gain in my dictionary. And also, I think, credibility and trust is not an issue here because they are in the bitcoin community for quite some time now.