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Freewallet.org = terrible experience

Discussion in 'General Discussion' started by Syntheist, Oct 18, 2017.

  1. Syntheist

    Syntheist Active Member

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    Following up a negative report from an artist about Freewallet.org's Dash wallet I decided to investigate the wallet myself.

    It is beyond terrible.

    If this wallet is a person's first experience of Dash it will turn them away in droves. This is not an app that anyone should be using:

    1. It requires being linked to your phone or social media account to work = data mining
    2. Incoming transactions take 30 minutes to confirm in the wallet.
    3. The same incoming address is reused for every transaction.
    4. Out going transactions are subject to a minimum 0.01 Dash fee = $2.90!
    5. Outgoing transactions take 15 minutes to confirm inside the app.

    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.

    My incoming address payments:
    https://chainz.cryptoid.info/dash/address.dws?Xk4HSKj9BoV7BsGqHNfgrmbuuYAxStET7m.htm

    They are not related to my outgoing transactions:
    https://chainz.cryptoid.info/dash/tx.dws?4436536.htm

    Social Media Data Collection:
    Screenshot_20171018-161802.png

    The insanely high fee is not alterable:
    Screenshot_20171018-172123.png
     
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  2. solarguy

    solarguy Active Member

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    Well that's not helpful at all. And you don't have possession of your private keys. That would be a total deal breaker for me. Did you send a friendly note to their dev team to describe why this is a poor fit for your needs? Perhaps they will see the light.

    The market is ready and willing to give them feedback. Sometimes the feedback feels like a good kick to the gut.
     
  3. tungfa

    tungfa Administrator
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    Freewallet is NOT recommended !!
    we never promoted or posted it on any of our Official Outlets (Webpages, Social Media, Wiki....) exactly because of this "Privately issue" (as solar commented)
    do NOT use it and done - they can NOT be trusted !!(I will start a round of postings )
    Tx for reporting @Syntheist and please get all your guys (and girls) onto
    Dash Android :
    https://play.google.com/store/apps/details?id=hashengineering.darkcoin.wallet

    Dash iOS:
    https://itunes.apple.com/de/app/dash-wallet/id1206647026?l=en&mt=8
     
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  4. Freewallet

    Freewallet New Member

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    Syntheist, we appreciate your feedback! Sorry to hear you were disappointed with your Freewallet experience. We'd like to comment on the moments you highlighted as negative and explain why they're present in the app.

    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.

    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.

    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.

    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.

    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.
     
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  5. ONeZetty

    ONeZetty New Member

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    Dash Address:
    Xxs7QzkKurEzpWjrzzmCf22qMkKjtmnrKo
    Thanks for the time to investigate this wallet, defenelly we have to alert others, I will post on the social media accounts of Dashespanol
     
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  6. tungfa

    tungfa Administrator
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    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
     
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  7. Syntheist

    Syntheist Active Member

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    Funds are moved to cold storage and that causes the delay? Cool story, bro.

    I can see that the Dash I sent was confirmed and that the delay has nothing to do with cold storage because most of those coins never left the hot wallet address they were sent to, here the second set of coins I sent are still in the hot wallet address. So that is now another user's funds at risk in the hot wallet because I withdrew all of my Dash.

    Based on the transactions list above I'm guessing this is one of your cold storage addresses: XkLJ82E9JkhHQJLw58u5fhJ8sQw5DeuuS3 with 6620 transactions and counting.

    I have a better understanding of how Freewallet works: you have built a potentially dangerous system that requires me to trust you (I don't) on top of a trustless system, with excruciating confirmation times and an exit fee 100 times more expensive than it should be.
     
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  8. Racso

    Racso New Member

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    I wanna ask if somebody could please help me and guide me to get my XMR from that website. im new to this form of financial trade and i didn't know that this page its a sort of scam.

    the problem i have its that the website dont allow me withdraw my funds, always ask for more or less digit that i have.

    Sorry for my bad English
    Greetings
     
  9. jimbursch

    jimbursch Active Member

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    XMR? What is that?
     
  10. Racso

    Racso New Member

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    Monero coin mined with minergate
     
  11. jimbursch

    jimbursch Active Member

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    I think you are in the wrong place. This is a Dash Digital Cash forum.
     
  12. Freewallet

    Freewallet New Member

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    In order to move your funds to an external wallet, you need to cover the network fee, which is 0.02 XMR for Monero.
     
  13. solarguy

    solarguy Active Member

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    So your hard wired minimum fee to do a Dash transaction is now/still .01 Dash, or $11.00, correct? You see how this is a complete deal breaker yes?
     
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  14. Dashmaximalist

    Dashmaximalist Active Member
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    Ok guys to be fair towards freewallet they are giving free and instant tnxs within their users which is an important feature for developing fees.

    As long as they have dynamic fees for sending dash outside I think they have got good use case , infact we are looking for a wallet that can do near instant zero fee txns ...
     
  15. demo

    demo Active Member

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    Dash Address:
    XnpT2YQaYpyh7F9twM6EtDMn1TCDCEEgNX
    https://lifehacker.com/5697167/if-youre-not-paying-for-it-youre-the-product
     
  16. Dashmaximalist

    Dashmaximalist Active Member
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  17. demo

    demo Active Member

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    What is the transaction fee of the android dash wallet?

    What do they mean by "allow free transactions"?
     
    #17 demo, Feb 14, 2018
    Last edited: Feb 14, 2018
  18. Dashmaximalist

    Dashmaximalist Active Member
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    Right now it's either free or 1 cent in future it will be in few cents ...our users need 1/100 cent or less guaranteed
     
  19. demo

    demo Active Member

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    • Trolling Trolling x 1
  20. demo

    demo Active Member

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    @Dashmaximalist, you may rate me as troll, but you have a lot to learn from dashred. He solved many of the tech problems you are facing now.

    And yes, I admit that the article of dash-red is not usefull for your users. But it is for you. At least you could send to your users the dividend of 0.5$, without for you to pay for transaction fees.
     
  21. Dashmaximalist

    Dashmaximalist Active Member
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    I am bothered about my users paying fees not myself... They want to save money not their data
     
  22. demo

    demo Active Member

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    In that case, and as long as dash-qt is not suitable for beginners, the only solution is for an android wallet to be written that will behave like dash-qt, regarding the free transactions issue.

    unless of course this android dash wallet is already written, but we dont know it.
    Can someone explain what "free transactions" means?
     
  23. demo

    demo Active Member

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    And this is another solution.
    https://github.com/bitpay/copay/issues/5164#issuecomment-265569494

    So maybe we should contact our miner friends, and ask them for a discount for the poor people who receive the dividend.
     
    #23 demo, Feb 14, 2018
    Last edited: Feb 14, 2018
  24. tungfa

    tungfa Administrator
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    @Dashmaximalist
    freewallet is NOT recommended !!!
    they are holding the private key - that is THE issue here - not fees !
    if u trust them - be ready to lose your coins ! ;)
     
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  25. Dashmaximalist

    Dashmaximalist Active Member
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    i agree that there is a chance of losing your money , but heres the deal dash fees will easily be 1-3 cents in future , do you expect people who earn $1-5 per week to pay fees of few cents every time they use a service ??
    having said that , uphold looks like a reliable service , dont you think ??
     

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