freewallet.org is NOT recommended to use !

[tungfa]

freewallet.org
is NOT recommended to use !
(u do NOT hold the privatekey !!)
Review on :
https://www.dash.org/forum/threads/free ... nce.17427/

[Freewallet]

Hi everyone,

We've posted a reply to the review on DASH forums, here's an outline FYI:

It requires being linked to your phone or social media account to work = data mining

As a wallet service provider, we consider our mission to ensure the security of our users' funds. There are 4 authorization methods that can be used to sign up with our wallet or log into your existing account: by an email address, by a phone number, by your Google+ or Facebook profile.

We agree that privacy is essential for the cryptoworld. However, the information required to log into our app is just to make sure it's you who accesses your assets, not someone else. Another feature we promote is extended mobility with our apps, which means you can log into your wallet on any device using your credentials. You can easily create a new email, etc. to use just for your wallet.

The same incoming address is reused for every transaction.

Actually, we have an option to generate new receiving addresses in the app. Tap on the + button on the main screen, select Receive, then tap on My deposit address. You will get to the following screen where you can generate as many new addresses to receive DASH as you want. We might consider a way to make this option more visible to our users though.

Out going transactions are subject to a minimum 0.01 Dash fee = $2.90!

That's true, we offer a set network fee that help confirm transactions made by our users faster. The fee is the same for transactions of any size, which may be not so convenient for transferring small amounts. We are, however, planning to introduce dynamic network fees with an option to set them manually by the sender in our future app releases. There are also off-chain transactions among Freewallet users, which are fee-free.

Worst of all: you do not control the private keys of the address shown by the wallet app. You can see from the inwards and outwards transactions below that the Dash addresses are not related to each other. This means that all Dash held in a Freewallet.org account is at risk.

With Freewallet, your funds are safely stored offline in the cold storage with a bank level security grade. We can guarantee no money can be lost or stolen from our secure offline vault.

The address displayed in your app is a so-called "hot wallet" used for receiving transactions. Keeping the funds there as well as storing your private keys locally could be a risk because if the access to your device is compromised, it would give a hacker an opportunity to steal your assets.

That is why after you've received a transaction, the funds are moved to the cold storage. Whenever you need to make a transaction, your funds are transferred from the cold storage as well. Your actual balance is displayed in your app; what you see on a blockchain explorer is most likely an intermediary transfer of funds in/out of the cold storage. Please note that you aren't charged with any fees for such transactions.

Thanks to the cold storage technology, even if your phone gets lost or stolen, you can easily access your wallet using another device. We're, however, working on the feature that will allow exporting wallets to PC or another service, it should be available soon.

Incoming transactions take 30 minutes to confirm in the wallet.
Outgoing transactions take 15 minutes to confirm inside the app.

It may take a while for transactions to get confirmed and posted in the network; the transaction speed depends on the current network conditions. Also, because of the cold storage technology explained above, transactions cannot be performed instantly. However, we also offer instant off-chain transactions of the same cryptocurrency between Freewallet users: no fees are applied to them.

We hope that the information we provided helps get a better understanding of how Freewallet works. if you have any further questions or suggestions, we're open to discussion.

[tungfa]

tx for reaching out

but u have to understand
a wallet - which is supposed to be "my bank" holding the private key does not make any sense
as "my bank account' is suddenly back in the hand of that bank !
isn't that 100% against the whole idea of crypto ?
i am just advising our users here - no offence to u guys