Cryptocurrency exchange | |
---|---|
Official website | |
Social network | |
Date of foundation | 1970 |
Head Office | Codebase, Argyle House, 3 Lady Lawson Street, Edinburgh, EH3 9DR |
Types of support | |
Phone Support | |
Languages | English |
Company owner | Wallet Services Ltd. |
Age restrictions | From 18 years |
Number of cryptocurrencies | 100 |
Margin trading | No |
Tokenized assets | No |
Free demo account | No |
Types of accounts | Standard |
Methods of replenishment | Mastercard, VISA, Cryptocurrency wallet |
Withdrawal methods | Cryptocurrency wallet |
Account Currencies | EUR, USD |
Types of cryptocurrencies | Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Monero, DASH, DOGE, Zcash, et al. |
Mobile apps | |
Trader training | Blog, Market News |
A way to store cryptocurrencies | Cold: no Hot: yes |
Fiat accounts | Yes |
Scalping | No |
Stop loss and take profit function | No |
Possibility to exchange for fiat currencies | Yes |
Terminal capabilities | Exchange (internal, for withdrawal), converter, virtual wallet |
Basic verification | No |
Advanced AML verification | Yes |
API | Yes |
Affiliate Program | RegistrationRemuneration for attracting customers |
Advantages | Large selection of cryptocurrencies Open Interface (API) Ability to register a wallet |
Disadvantages | Many complaints about theft of funds and high commissions Publications in the media about mass cases of theft of funds from Freewallet wallets No license, information about the company is not confirmed You can't sell fiat for cryptocurrency |
Overall assessment | 6.9/10 |
Date of update | June 20, 2023 |
Freewallet is this a scam? Review and Reviews
Contents
Freewallet – is a cryptocurrency wallet and exchangerThe basic set of options for working with virtual work is present here: internal exchange Cryptocurrencies from purse to purse, buying c.u. from the card, a converter to estimate the profit.
Let’s see, is it as profitable to use the platform as it seems at first glance? And what is Freewallet – a scam or a serious product that can be used without fear?
Why Freewallet
Freewallet claims to be a multilingual platform, translated into 13 languages. The site itself freewallet.org is presented only in the English-language version.
Immediately catches the eye a large selection of cryptocurrencies, but on closer inspection, it becomes clear that the full package is supported only if you create internal virtual wallets and exchange between them – when converting crypto into fiat currency you will be offered only 8 cryptocurrency uk (How to Make Money on Cryptocurrency?).
The emphasis, as we said in the prologue, is made precisely on storage, so most of the functionality is focused on it. Traders have access to the converter, voting for the implementation of certain options (what to implement first of all), quite a massive FAQ section (“Frequently Asked Questions”), support center (tickets) and quite a bearable blog, where along with social networks, market news is published. Note also the presence of tokenized assets, an open interface (API) and the presence of a mobile application. That’s not bad enough for a start.
How to buy cryptocurrency on freewallet.org platform
Exchange and cryptocurrency purchase on the platform are made through Exchanger (internal exchange between wallets Freewallet) or currency exchanger (transactions from cards and external storage). In the first case, we open a form in the voiced section, set the amount that we buy/sell, and click Exchange.
The system will ask for details: wallet key and e-mail. We will be given the address where we need to send the crypto to confirm the transaction. It can be copied or scanned with QR-scanner of your mobile device. After that, the application will be accepted – you will only have to wait for the funds to be credited. In the case of selling fiat currency, the form is about the same: only the choice of currency units (by the way, it is much less than in the first case) and the amount plus specifying the wallet address.
Go to the standard form of payment Simplex (operator): specify the card number, name of the holder, expiration date, actual address and contacts (mail, phone number), as well as date of birth. E-mail and number will need to confirm: a letter will come to the mail, and the phone will receive a message with a code. Finally, you will need to verify your identity (see below), after which the application process will be completed.
Verification on the FreeVallet platform
Verification is a standard procedure introduced for the safety of customers (so that later your assets do not “leak” to another person who gained access to your account at the exchanger). In the Freewallet system it involves uploading a passport photo/scan (main page with signature).
And re-fill the form with personal information: full name, date of birth, gender, country of residence, passport number and series, date of issue, address (all in Latin characters). Verification takes a couple of minutes, after which your transaction will or will not be confirmed, depending on the results of the analysis of the information provided.
Terms of buying cryptocurrency
The service can be used only by people over 18 years old who have sufficient experience in handling cryptocurrency and have the authority to accept the terms of the resource – in other words, legally capable (it is mentioned in paragraph 1.1 of the site’s User Agreement freewallet.org).
The provider itself does not impose territorial restrictions, but notes that you are responsible for complying with the laws of your country of residence. More than 100 types of currency are available for internal exchange (from crypto to crypto between wallets registered in the system): Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Monero, Dash, Zcash, Doge, Lisk, Decent, NXT, Ardor, Eos, Tether, Ripple, Bytecoin, IGNIS, Stellar, NEM, Neo, Litecoin etc. But when you buy fiat for virtual currency, you can only choose BTC, BCH, ETH, LTC, XRP, XLM, BNB, TRX on the one hand and USD, EUR on the other. It is not possible to sell fiat.
External wallets and Freewallet wallets (a separate one is created for each digital unit) and bank cards VISA, MasterCard (Simplex is responsible for the processing) are used to fund your account. With each direction you work through a separate form (sections Buy with a card and Exchange). In the near future, as stated on freewallet.org, it is expected to launch “cold” storage, but at the moment only “hot” storage is functioning.
Deposit and withdrawal limits
When you buy fiat for crypto units, you can exchange between 50 and 20,000 U.S. dollars or 0.004244 and 16.97799 bitcoins. The calculator will not allow you to enter any other amount. But the internal exchange has no limitations: here you are free to convert any amount of digital characters.
Freewallet Commission
According to the terms of the same user agreement, Freewallet charges a fee for exchange and withdrawal. The amount of fees is not specified – they are included in the rate. There may also be other fees, which will be required by the provider to compensate its own costs incurred in the process of providing services to the customer.
FreeVallet Bonuses
Bonuses (rewards) are given out by the company randomly and without prior notice or any system. Usually these are discounts on services (reduced rate).
Referral program
Freewallet has no referral program – partners are invited to become a kind of intermediaries in the White Label model and run their own cryptographic wallet as a service: the software in this case provides Wallet Services Ltd. and trademark you register yourself.
Complaints about Freewallet
There are a huge number of complaints about Freewallet on the network (including on the mobile application page of the platform). And they are related to the fact that the units listed by users were converted, but the transaction was not completed (they did not receive the crypto). At the same time, the support team at the resource itself stopped responding.
And one blogger created a detailed report with pictures, clearly depicting how he was cheated. At the same time, according to him, on public resources support showed a desire to help and offered a solution: contact them again by email/forms. Whereas in reality all these requests again went unanswered.
Many people are having problems logging on to the platform.
And in the official media we found articles about mass thefts from Freewallet wallets. In other words, not only the conversion, but also the storage of currency on the resources of the service is not safe.
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Regulation Wallet Services Ltd.
Before investing in this or that platform, it always makes sense to check its licensing base. Especially considering how many offshore exchangers currently exist. And first of all, due to imperfect legislation in a number of countries. Let’s see how the owners of Freewallet prove themselves in this regard.
Freewallet controller
On the official resource of the exchanger freewallet.org Wallet Services Ltd. is listed as the owner. – a British developer of software solutions for business. However, on freewallet.org the details of this service provider are for some reason not specified even in the user agreement, and the jurisdiction is not the UK, but Malta. And there is no license for cryptocurrency transactions in the public domain. It seems that it simply does not exist.
Freewallet.org User Agreement
The Freewallet Terms of Use agreement consists of 10 sections stating the obligations of the system’s customers and administration to each other. Let’s look at a few. Let’s say it’s stated that you are obliged to spare the company from any claims for losses (damages) resulting from using its services, even if this concerns breaches of guarantees on its part. Verification procedures can be initiated against you at any time (clause 5.4).
If you were unable (unwilling) to provide the information requested by Freewallet, you will be restricted from accessing the services – this will happen without prior notice (clause 5.6).
The provider is generally free to refuse services to you or remove a service from the list of services offered at will, without giving a reason. Any disputes arising shall be governed only by the arbitration courts of Malta, without regard to the laws of other jurisdictions (clause 9.1).
Is Freewallet a Scam?
The platform looks very doubtful. All this leads to the inescapable conclusion: with a high degree of probability, Freewallet – it’s a scam and you should not trust the resource. This is indicated by the following points:
- It is not clear whether the developer is really its owner, and for some reason there are no contacts with him, although the company’s website lists them.
- There is no license and registration information.
- There are publications in serious online publications about mass thefts of cu.u. from cryptocurrency wallets provider, as well as a large number of complaints about fraudulent exchange transactions in otzoviks and on the page of the mobile application in Google Play Market.
Conclusion
Freewallet On closer inspection, unfortunately, it turned out to be not a very conscientious service provider. The information offered on its site does not always correspond to reality or is not confirmed (for example, the number of language versions or currencies, information about the owner of the platform).
The choice of fiat is quite scarce (euros and American dollars), and it cannot be sold – only bought. And the comments of users and official publications on the network show a large number of cases of fraud. Under the pressure of all these factors, the beautiful shell of the “bubble” called Freewallet is simply bursting.
Reviews
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Feedback approved for publication Rate your review 000Leave complaints about their wallets! This is a scam!
Friends, be careful with Freewallet! I fell for their brilliant marketing, but it’s a scam. It is simply impossible to withdraw funds and support ignores. Write complaints on the App Store so that others don’t fall into the trap!
Positive- No
Minuses- Token theft
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Feedback approved for publication Rate your review 000I recommend avoiding, suspicious service
My experience of using Freewallet left me deeply disappointed. At the beginning, everything looked attractive – simple registration, a wide range of choices supported cryptocurrencies and promises of a high level of security. However, in the course of use, a number of issues have come to light that I… Read more
Positive- Wide selection of cryptocurrencies
- Ease of use
Minuses- Scam disguised as technical errors
- KYC verification that turned out to be a scam
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Feedback approved for publication Rate your review 000Fraudsters! Do not download under any circumstances!
Freewallet has proven to be a real nightmare for my finances. After I decided to use their wallet, I was constantly harassed with requests to providing personal information. I certainly understand the importance of security, but their methods are extremely questionable.
When I finally sent them my KYC… Read morePositive- None
Minuses- Fraud
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Feedback approved for publication Rate your review 000Using Freewallet caused me negative emotions due to frequent technical problems that led to delays in transactions
Using Freewallet caused me negative emotions due to frequent technical problems that caused delays in transactions, as well as inefficient communication with customer support. As a result, my experience of using this service turned out to be disappointing.
Positive- +
Minuses- -
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Feedback approved for publication Rate your review 000I had a negative experience using Freewallet due to frequent technical problems
I had a negative impression of using Freewallet due to frequent technical problems that caused delays in transactions, as well as inefficient communication with customer support. This caused me disappointment with my experience of using this service.
Positive- There is none of them
Minuses- All drivers
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Feedback approved for publication Rate your review 000My experience using Freewallet resulted in low satisfaction due to frequent technical issues
My experience using Freewallet has caused low satisfaction due to frequent technical problems. Delays in transactions and ineffective communication with the support team caused disappointment and negative impression.
Positive- No
Minuses- all possible
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Feedback approved for publication Rate your review 000I was dissatisfied with my experience using the Freewallet service
I was dissatisfied with my experience using Freewallet service. I had problems with withdrawal of funds and the quality of service left much to be desired. Because of this, I cannot recommend this service.
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Feedback approved for publication Rate your review 000My experience using the Freewallet service left much to be desired
My experience of using Freewallet service left much to be desired. Withdrawal of funds took too long, and the quality of service did not meet my expectations. Because of this I cannot recommend this service. ***
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Feedback approved for publication Rate your review 000They play on people's trust!
I decided to try the Ethereum wallet from Freewallet. At first everything was fine, I was fully convinced that the wallet is good. In the AppStore I was convinced of its of reliability after reading the positive reviews. After what happened to me, I doubt the credibility of these reviews, I am convinced… Read more
Positive- None
Minuses- Fraud
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Feedback approved for publication Rate your review 000I don't recommend using Freewallet due to frequent technical issues I've encountered
I do not recommend using Freewallet because of the frequent technical problems I encountered. The payout of funds caused difficulties and the support team did not respond properly to my requests. As a result, I wasted a lot of time and was not satisfied. If you are interested in the details, you can… Read more
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Feedback approved for publication Rate your review 000My experience with Freewallet was a bad one
My experience of using Freewallet was a bad one. The user interface is confusing, fees are high, and access to funds is difficult. I suspect this is a fraudulent scheme and recommend avoiding the use of this wallet. More information can be found at: (link removed).
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Feedback approved for publication Rate your review 000My experience with Freewallet was a bad one
My experience of using Freewallet was a bad one. The user interface is confusing, fees are high, and access to funds is difficult. I suspect this is a fraudulent scheme and recommend avoiding the use of this wallet. More information can be found at: https://***
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Feedback approved for publication Rate your review 000My experience with Freewallet was a bad one
My experience of using Freewallet turned out to be unsuccessful. The user interface is confusing, commissions are high, and access to funds is difficult. I suspect that this is a fraudulent scheme and recommend refraining from using this wallet. More information is available at: https://***
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Feedback approved for publication Rate your review 000My experience using Freewallet was unsuccessful
The experience of using Freewallet has been disappointing. The user interface is confusing, commissions are high, and access to funds is difficult. This is probably a scam designed to mislead users. I do not recommend using this wallet.
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Feedback approved for publication Rate your review 000My impression of Freewallet is negative
My impression of Freewallet is a negative one. Besides the fact that my funds disappeared without explanation, I also did not receive a response from the support team, which raises concerns about potential fraudulent activity.
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Feedback approved for publication Rate your review 000Using Freewallet is a waste of time and money
Using Freewallet is a waste of time and money. The application’s user interface is confusing, transaction fees are unreasonably high, and access to funds is practically impossible.
to access the funds. It appears to be a fraudulent scheme designed to scam users and I strongly advise against using it… Read more -
Feedback approved for publication Rate your review 000Choosing Freewallet turned out to be a waste of time and money
Choosing Freewallet turned out to be a waste of time and money. The application’s user interface is confusing, transaction fees are unreasonably high, and access to funds is difficult. It appears to be a deceptive scheme designed to mislead users. I strongly do not recommend using this wallet.
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Feedback approved for publication Rate your review 000Choosing Freewallet turned out to be a waste of time and money
Choosing Freewallet proved to be a waste of time and money. The app’s user interface is confusing, transaction fees are inappropriately high, and accessing funds has proven difficult. It appears to be a deceptive maneuver designed to mislead users. I strongly discourage the use of this wallet. More information… Read more
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Feedback approved for publication Rate your review 000Freewallet left me with an extremely negative impression
Freewallet left me with an extremely negative impression. Not only did my funds disappear without explanation, I also received no response from their support team, which raises concerns about potential fraudulent activity.
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Feedback approved for publication Rate your review 000Choosing Freewallet turned out to be a waste of time and moneyPositive
- No
Minuses- all possible
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Feedback approved for publication Rate your review 000I don’t know what to do, it looks like I can’t get my money back
This is not a good cryptocurrency wallet, I thought I would earn money, but it turned out to be the opposite. All the allegedly earned money went nowhere. If you want to withdraw money, the withdrawal does not work, they write withdrawal is temporarily unavailable. I wrote to technical support and all… Read more
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Feedback approved for publication Rate your review 000Very disappointed with my experience using Freewallet
This wallet scammed me and many other users. I turned to this company with the hope of storing my cryptocurrencies safely, but found myself being scammed. After reading the scam debunking article on the Bits.Media forum, I saw even more reviews from scammed users. I recommend everyone to avoid this wallet… Read more
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Feedback approved for publication Rate your review 000This was the last time I used this exchanger!
On the 16th I applied for withdrawal, still no money. I emailed them and they said to wait a bit. I wrote to them every day, so that they did not forget about me( My money is stuck somewhere and I am not sure that I will be able to get them. I do not recommend this exchanger.
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Feedback approved for publication Rate your review 000Total slag
The platform as a whole is not very good, the service is at zero, and they kept my funds for themselves. It is better to protect yourself in advance, to register on a reliable platform, than to negotiate endlessly with fraudsters.
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Feedback approved for publication Rate your review 000I don't recommend it
All the same benched, well expected though I kept a little, but it’s still a shame because we had such hopes. And the interface was convenient, tech support with keys helped always, and now there is no support, no withdrawal. Guys I’m with you, let’s do everything possible so that they did not leave… Read more
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Feedback approved for publication Rate your review 000Freewallet is a crypto wallet that has scammed many users, including me
I lost a huge amount of money and the support team ignored my appeals. I also came across an article on a forum where other users also became victims of fraud. I do not recommend using this wallet and warn against possible losses.
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Feedback approved for publication Rate your review 000I do not recommend using Freewallet under any circumstances!
This is an absolute nightmare! I decided to try their services to store some cryptocurrencies and it was a mistake. Made an exchange of one coin for another, and immediately the money disappeared. Support just mocks me – standard answers, no specifics. Sent a hash, they are stalling, and I don’t know… Read more
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Feedback approved for publication Rate your review 000Write in tech. support is simply useless
In simple words, it is just a scam, do not fall for this alleged cryptocurrency wallet, as I did. I lost all my savings thanks to this wallet, and the amount was not insignificant. My account was simply blocked when I wanted to withdraw crypto and that was it.
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Feedback approved for publication Rate your review 000People, don't believe them, these are real scammers!!!
They stole my money and they don’t answer my messages(((( At first everything was fine, the Freewallet application was installed easily, the first two times the money was exchanged quickly, without any problems, the third time I didn’t wait for the money to arrive on my account. In the support service… Read more
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Feedback approved for publication Rate your review 000This is a SCAM wallet
This is a SCAM wallet. You will lose all your money if you use this application. All money in this wallet does not belong to you and is not on your wallet. In the app it’s just drawn data. As soon as my USDT TRX20 TJ1*** wallet exceeded $30k it was blocked under the pretext of the need for verification… Read more
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Feedback approved for publication Rate your review 000Freewallet
I have funds in the purse Freewallet needed urgent transfer to another purse, tried several times, gives an error.
I appealed to support, they say send a photo of the documents, sent a passport of the Russian Federation, they say it does not fit, send a passport or rights, and if I do not have them.
If… Read moreMinuses- They don't allow me to withdraw funds
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Inaccurate feedback Rate your review 2+20All the money accumulated over 5 years was blocked
Without any explanation blocked funds, support is silent. I do not recommend anyone to use this wallet is scam!
Positive- There is not
Minuses- Blocking funds
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Rate your review 0-66Great wallet! No problem!
In general, for 5 years, no problems have arisen, there were questions – I wrote to support, answered immediately…
Next, personal experience:
With the wallet Freewallet I I’ve been using it since the end of 2017, when video cards skyrocketed in price and so did Etherium.
In November I took out a… Read morePositive- Custodian, connected to the email, you definitely won’t lose the keys, low fees, user-friendly screen, the crypt is actually stored for years without problems..
Minuses- didn't notice
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Rate your review 5+50Wallet blocked
For almost a month I can’t use my wallet. It is blocked, I contacted the support service, I was asked for scans, selfies, and much more, and then they told me to wait and it lasts almost a month. My questions when all the same unblock the purse sent one reply "Sorry for the delay.
We have just… Read morePositive- No
Minuses- block
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Rate your review 5+50Blocked Withdrawal From Wallet, MONERO STOLE?
The most interesting part is at the end.
In August 2020, I decided to buy a Monero, got this coin purse, and went to the exchange office happy I exchanged my previously bought bits for coins. I exchanged, satisfied, and put the coins into a new purse. I decided to verify my account and at the same time… Read moreMinuses- Scammers
- don't give back coins
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Rate your review 1+10This company no longer exists, here is...
This company no longer exists, here is a link to the current rating of Bitcoin buying services – https://eto-razvod.ru/card-bitcoin/.
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Rate your review 2+20Attention! Freewallet.org - SCAM, they are scammers...
Attention! Freewallet.org – SCAM, they are scammers and crooks, never trust them with your money, if you have already done something stupid and contacted these thieves, consider that you have lost your money. I sympathize, there are thousands of such people.
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Rate your review 00Analyzing the latest reviews about Freewallet platform...
Analyzing the latest reviews about Freewallet platform on the Internet, we noticed that customers are increasingly complaining about missing money. The exchanger often technical failures occur, funds simply do not arrive or are frozen under the pretext of verification. And we also noticed that the limit… Read more
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Rate your review 2+50These are SCAMMERS that take money under...
These are SCAMMERS that take money under the guise of KYC verification. if you put money on this wallet, then you can safely say goodbye to them. no one will give you private keys because they are scammers in all plans.
- New1
- Resolved0
- Not resolved1
Freewallet reviews