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Messages - Freewallet

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1
Sorting Box / Re: Be careful of mobile wallets that holds private keys
« on: September 20, 2019, 12:40:16 PM »

Quote
The point is you have complete control over other people's funds and that you can withhold them at anytime. The only way users can gain access again is by undergoing KYC procedure. That's something crypto exchanges do and not wallets.

It's not true that funds are being withheld and that this is done arbitrarily. In fact, the activity on a certain account is temporarily put on hold until we complete a fully AML-compliant procedure.
As per our Rules and Terms and a wallet service provider, we are entitled to conducting KYC and AML procedure.

2
Sorting Box / Re: Be careful of mobile wallets that holds private keys
« on: September 20, 2019, 11:55:59 AM »

Quote
The point is you have complete control over other people's funds and that you can withhold them at anytime. The only way users can gain access again is by undergoing KYC procedure. That's something crypto exchanges do and not wallets.

pls see the reply below

3
Sorting Box / Re: Be careful of mobile wallets that holds private keys
« on: September 13, 2019, 02:57:54 PM »
"Not your keys, not your funds", that is usually the advise given to many newbies storing their assets on exchanges. Apparently, there are some mobile wallet providers that controls the private keys like FreeWallet. Using such wallet is just as bad as storing on exchanges because they can also hold your funds whenever they desire and there's nothing you can do but to comply with whatever requirements they need. Your assets may still be released but imagine the inconvenience and the lost opportunities.

it is still 100% better to use wallets where you control the private key.



I've posted a similar topic in another forum

Hi there,

We are disappointed to hear that (to quote it) "using our wallet is bad". We can definitely state that we receive overwhelmingly positive feedback, both in our regular customer requests and public reviews. It perfectly shows that our customer service is efficient.
Getting to the main point:
Our wallet is custodial and we thus do not share PK with the individual wallet addresses.
However, should you have any concerns or queries, we are always ready to address them in public and provide you with the best solution possible.

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