Multi-currency Crypto Wallet: Freewallet Review
Choosing the right crypto wallet can be a challenging task. With many options out there, it’s difficult to make a decision before trying the wallet service for yourself. However, some qualities can make good indicators that a wallet is a good fit for your needs. Important factors include available currencies, security measures and customer support to provide assistance if any questions arise.
Freewallet is one of the most prominent crypto wallet options out there with over 3M users around the globe. Their mobile multi-coin wallet application has been available for both iOS and Android since 2016.
Freewallet has made over a 100 assets available for its users on mobile and web applications including major coins such as BTC, ETH, LTC, USDT, and XRP. In addition, it also offers 33 single-currency applications.
It is fairly easy to sign up for Freewallet and the process only takes several steps. Users can register with an email address, Gmail or Facebook account, or just a phone number. Afterwards, users are asked to choose a strong password and 4-digit PIN. It’s important to memorize the PIN as it will be requested as an additional security step for important actions on the account.
Freewallet provides a variety of crypto services for its users. Some currencies can be purchased with a bank card which is great for beginners entering the crypto space. Currently, coins available for purchase with this method are BCH, BNB, BTC, DASH, ETH, EOS, LTC, TRX, XLM and XRP.
Sending and receiving peer-to-peer transactions with Frewallet can be done in a couple of clicks. Users are able to choose their fee structure from four of the available BTC fees. Within the Freewallet ecosystem, all transactions are made feeless.
Another important feature that Freewallet offers is a built-in exchange. Not every crypto wallet can support this many assets within one application. Currently, Freewallet users can convert more than 100 assets. In addition, 54 of those coins and ERC20 tokens are supported by new exchange technology that allows them to be transferred within a couple of minutes. This type of exchange is also characterized by better rates and enhanced anonymity.
To ensure users have enough information regarding the security of their wallet, Freewallet rates account security from “weak” to “strong.” In addition to a strong password and 4-digit PIN, users are encouraged to enable 2-factor authentication on logins and when initiating a transaction. In this case, a one-time password will need to be received and confirmed via mobile application like Google Authenticator. Users can also enable multisig email protection. More than one email address will be used to confirm transactions, providing users with an extra layer of protection. Available security measures can also include Touch ID, withdrawal limitation and active session control.
Besides the features listed above, Freewallet also offers some add-on features. One of them is convenient top-ups for your mobile phone with BTC. BTC coins can also be exported and imported to and from another wallet or another Freewallet account.
With all of these options, some users may need a little guidance. For this reason, Freewallet has 24/7 customer support. If any questions or issues arise, responses can be received in as quick as a few minutes. The Freewallet team is also active on social media, interacting with their community, conducting various activities and even rewarding their most active users.
Overall, Freewallet is definitely one of the best options amongst crypto wallets. The built-in exchange, high security standards and customer care together make it a convenient tool for any crypto enthusiast, whether they’re experienced or just a beginner.