As you probably have noticed the usage and popularity of cryptocurrencies or digital currencies is increasing widely all around the world. As more and more digital currency is popularized, more and more digital wallets are being introduced to keep people’s assets organized by different companies. On this article we are going through FreeWallet review and introduction. FreeWallet is one of the digital currency wallets on the market. Follow the article to know about strengths and weaknesses of this wallet with detals.
FreeWallet review of history
FreeWallet is a web-based multipurpose digital wallet that also has an internal currency exchange. This wallet was first introduced in Estonia in 2016, originally designed for the Fantomcoin currency only.
After the initial tests, the FreeWallet design team decided to release an Android version for popular currencies such as Ethereum, Bitcoin, and Monroe on Google Play. With the success of the Android version of this wallet, its iOS version was also presented at the App Store, and later in 2017, a web version of this wallet was introduced to improve users accessibility and experience.
In 2018, FreeWallet became the third most popular Android wallet that showed with considerable popularity among mobile users.
FreeWallet review of features
This multi-purpose digital wallet supports over 100 different digital currencies and can simultaneously protect all of its digital assets using many security methods and algorithms.
User friendly interface and security features of various version of this wallet for web users and mobile users has made FreeWallet so popular with increasing number of users every day that has made it one of the most widely used digital currency wallets. This wallet has more than 30 exclusively designed wallets for both Android and iOS platforms, which allows users to store only one currency in their wallet. So you can turn FreeWallet to exclusive purpose wallet that supports only a specific currency rather than multi purpose one.
The Android version of this wallet has been downloaded more than 100,000 times by different users of Google Play, with a score 3.7 by more than 2,500 users. This wallet does not currently have a desktop version and is only accessible through Android, iOS and the web version.
Some of the most important features of FreeWalllet digital wallet are listed below in order to give you a prospective of how this wallet can benefit you.
FreeWallet provides supports for android, iOS and web users with different versions.
It is a multipurpose wallet with support for more than 100 different digital currencies available on the market.
It has 23 dedicated wallets for the Android operating system that enables Android users to use the wallet for a specific currency only.
It has 9 dedicated wallets for the IOS operating system that enables iOS users to use the wallet for a specific currency only.
It has internal currency exchange with the ability to buy and sell currency within the wallet.
Visa and Master Credit Card is supported on this wallet.
It provides two step authentication to enhance users security.
Supports fingerprint system and application lock to protect users sensitive information in case of mobile lost or other similar cases.
Enables users to convert currencies to each other.
24-hour support available for user.
Provides supports of 13 languages in the world.
There is no fees to use the wallet and it is completely free.
It offers simple and user friendly interface.
No charges and fees for transactions to other FreeWallet users.
It supports multiple signatures option.
Supported Currency in FreeWallet multi purpose digital Wallet
FreeWallet digital wallet has three different types that you can choose to use. In dedicated or exclusive wallet, you only have the ability to save a specific currency. In FreeWallet Lite type, you have the option to store and hold currencies like Bitcoin, Ethereum and all tokens under the ERC-20 standard, and finally you can store more than 50 different currencies in a multi-purpose wallet type.
You can access freewallet.org website which is the official website of this wallet for a list of its features and available currencies as well as downloading files for installing this wallet. Note that the best source for getting this wallet is its original website. (keep in mind that this wallet does not have a desktop version and the FreeWallet.io wallet, which is available on the Internet, is not under the control of the original FreeWallet team!)
In the table below, we introduce some of the most important currencies that are supported in the multipurpose version of this wallet.
|TrueUSD||Bitcoin Cash SV|
FreeWallet review of security
One of the most important concerns for users who go through different digital currency wallets is the security of these tools since wallets are directly associated with their assets and funds. The low security of the wallet causes the digital assets contained in it to be compromised and lost by various events, including hacking, theft or even not having back ups.
FreeWallet security, considering the fact that it has a web-based version, is more important and concerning than hardware wallet or even software ones. Online wallets require a comprehensive server that stores their user’s financial information that can display this information to the user when they access the wallet. Hence, if the mentioned server is attacked, the total assets of users will be compromised and under the risk.
However, over two years after the introduction of the FreeWallet, no reports have yet been made of any attack and hacking, which suggests that the wallet’s security acceptable. This wallet has many security features and uses many algorithms, such as two-step authentication, multi-signature technology support, locking and fingerprint support, support reviewing active sessions, and ability to set up transaction restrictions.
In FreeWallet, all user assets are kept in cold money wallets that increases the security. But another security debate in wallets is the possibility of being scam that you need to figure it out. The truth is that it is impossible to verify the correctness of what digital wallets claim to be. Because many of these wallets are designed by the programming team whom there is little information about them. The only way to decide whether it is a good idea to use these wallets and determine if they are scam or not, is to look at the history of these wallets and the views of their users. It is up to you to do a full research and choose the wallet to use. So this blog would not take any responsibilities about this wallet or other introduced ones.