Freewallet. The truth about the application and advice for victims! p.1

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Freewallet org. If you have been interested in cryptocurrency for a long time, buying or selling tokens and coins, you have probably already heard about this wallet. According to the developers' advertisements, Freewallet is safe, and its multifunctionality and low fees make the application one of the best. But let's try to honestly evaluate this project and understand why experienced crypto investors consider Freewallet to be nothing more than a scam!

What is Freewallet

According to the official website, in 2016, a team of developers led by Estonian resident Alvin Hagg founded a new crypto wallet. The name Freewallet emphasized the absence of additional fees. In addition, in advertising, project owners often mention the following advantages of the service: 

  • Support for hundreds of tokens and coins. You can install separate Ethereum, Monero, Bitcoin wallets, but you can also use the multi-currency version. 
  • Built-in token and coin exchange service. 
  • User-friendly interface. 
  • High reliability and availability of cold storage. 

Sounds nice, right? Now let's take a look at what Freewallet actually is.

Here is one of the reviews about Freewallet published on the Sitejabber service. A user complains that he has lost his coins. And Freewallet support simply ignores requests and does not help in any way to solve the problem.

The transaction simply disappeared into thin air! When I tried reaching out to customer support, all I received were automated responses.

Of course, representatives of the application in such cases assure that this is a random incident, an error, a glitch, or a misunderstanding. But let's see how many similar complaints can be found on the Internet.

Freewallet reviews

Let us emphasize right away that we will not use posts posted on the official resources of the project. Obviously, the developers will praise and advertise themselves. It is worth looking for Freewallet reviews on independent platforms that allow everyone to leave their own opinion:

  • Bitcointalk (one of the largest crypto forums).
  • Quora com.

Surprisingly, on all these resources Freewallet has a reputation as a fraudulent project that steals user savings.

Freewallet reviews on Reddit

This site has dozens of communities dedicated to cryptocurrencies. Most of them contain at least one comment warning about the dangers of storing assets in Freewallet.

As an example, here is a customer complaint posted in the Monero community. By the way, the rules generally prohibit advertising Freewallet in this group. This wallet has been added to the blacklist. And you can see the reason on the screenshot. As soon as the user received a large transaction, the administration simply froze his coins. After which the victim was ignored by the support.

Here's another similar complaint. And again, the victim complains that the administration simply blocked the ability to withdraw money. There are hundreds of stories like this on Reddit!

And we'll tell you about other stories of Freewallet victims in Part 2.

Regulation and Society adoption


Security and Scams

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