Freebitco.in as a wallet?

[BitcoinzB]

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?

you can trust this website, bcuz they paid from 2013, and i got paid about 0.3 btc from this faucet and betting there, i invest 3 btc there few month ago and i got paid monthly about 0.01 btc

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

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[wetsuit]

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?

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:

How do you store bitcoins securely?

We use a combination of hot wallets, hardware wallets (Trezor) and BIP38 encrypted paper wallets to store bitcoins. At no time do we keep more than 5% of our total bitcoins in the hot wallet which is used for making payouts. The hardware wallet is used as a "warm" wallet and bitcoins are transferred from it to the hot wallet as required. Our paper wallets serve as our "cold" storage with the wallets generated on an air-gapped computer running Tails OS. Our hardware and paper wallets are also secured against physical theft as the hardware wallet requires a pin code and encryption password to access and the private keys in the paper wallet are encrypted which means that the coins in the wallet cannot be accessed without having both the private key and the encryption password. We also keep physical copies of the cold storage wallets at multiple locations.

[funkykong]

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.

[Get-Paid.com]

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.

[Myfe]

~~ ANNOUNCEMENT ~~

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.

If you had funds with us during the recent Bitcoin hard-fork, we have credited you with extra Bitcoin Gold (BTG) coins for each Bitcoin that you had with us.

You can exchange your Bitcoin Gold (BTG) that was credited to you directly into Bitcoin at a rate of 0.019 BTC/BTG. When you exchange, the extra Bitcoins will be added to your account balance and can be withdrawn instantly.

The BTG that you have received is in addition to the BTC that you had with us and is an extra amount which can be exchanged to increase your BTC holdings by 1.9% by simply clicking a button!

The option to withdraw your BTG will also be available in a few days.

[merc1969]

Question :When will the transfer to other wallets be made available ? Any ETA ?

~~ ANNOUNCEMENT ~~

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.

If you had funds with us during the recent Bitcoin hard-fork, we have credited you with extra Bitcoin Gold (BTG) coins for each Bitcoin that you had with us.

You can exchange your Bitcoin Gold (BTG) that was credited to you directly into Bitcoin at a rate of 0.019 BTC/BTG. When you exchange, the extra Bitcoins will be added to your account balance and can be withdrawn instantly.

The BTG that you have received is in addition to the BTC that you had with us and is an extra amount which can be exchanged to increase your BTC holdings by 1.9% by simply clicking a button!

The option to withdraw your BTG will also be available in a few days.

[trilyuner]

When will the transfer to other wallets be made available ? Any ETA ?

~~ ANNOUNCEMENT ~~

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.

If you had funds with us during the recent Bitcoin hard-fork, we have credited you with extra Bitcoin Gold (BTG) coins for each Bitcoin that you had with us.

You can exchange your Bitcoin Gold (BTG) that was credited to you directly into Bitcoin at a rate of 0.019 BTC/BTG. When you exchange, the extra Bitcoins will be added to your account balance and can be withdrawn instantly.

The BTG that you have received is in addition to the BTC that you had with us and is an extra amount which can be exchanged to increase your BTC holdings by 1.9% by simply clicking a button!

The option to withdraw your BTG will also be available in a few days.

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

[DragonLancer]

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?

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:

How do you store bitcoins securely?

We use a combination of hot wallets, hardware wallets (Trezor) and BIP38 encrypted paper wallets to store bitcoins. At no time do we keep more than 5% of our total bitcoins in the hot wallet which is used for making payouts. The hardware wallet is used as a "warm" wallet and bitcoins are transferred from it to the hot wallet as required. Our paper wallets serve as our "cold" storage with the wallets generated on an air-gapped computer running Tails OS. Our hardware and paper wallets are also secured against physical theft as the hardware wallet requires a pin code and encryption password to access and the private keys in the paper wallet are encrypted which means that the coins in the wallet cannot be accessed without having both the private key and the encryption password. We also keep physical copies of the cold storage wallets at multiple locations.

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

[G.Seed]

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.

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

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

Ah, ah ! Don't fall in the trap ! 

[FUD Expert]

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.

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

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

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.

[Myfe]

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

[Myfe]

~~ ANNOUNCEMENT ~~

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

2. Wallet balance via Blockchain.info: 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.