Freewallet recently announced the expansion of its exchange capabilities. Besides adding support for more digital assets, the transaction speeds for crypto exchanges have been increased exponentially. Additionally, the platform is reducing the minimum transaction amount by half. With crypto attracting new market participants in 2020, the core updates on Freewallet put the platform in a perfect position to enhance UX and increase overall market share.
Major Upgrades To The Freewallet Platform
Freewallet is one of the fastest-growing multi-currency online wallets in the crypto world. With recent upgrades, users will enjoy fee-free crypto exchanges and a major reduction to the minimum transaction amounts. These upgrades are the latest efforts to make Freewallet the go-to platform for digital asset investors.
Record-Setting Speeds In The Industry
Prior to the latest developments, Freewallet already offered some amazingly fast speeds and low fees. With the recent upgrades, Freewallet users will get to enjoy exchange speeds of less than a minute per transaction. With support for more than 50 digital assets, users will see quick exchange speeds on popular cryptocurrencies such as BTC, USDT, ETH, LTE, XRP, and many others. By leveraging smart exchange technology, Freewallet was able to bolster speeds and create a superior user experience. The figure below shows the seamless interface for exchanging one digital asset for another.
No Fee Hike
Many users might expect that faster speeds would come with higher fees. However, that is not the case. On the platform, the rates will remain the same. However, the minimum transaction amount per transaction has been reduced by half to $5. Additionally, transactions within the Freewallet ecosystem will remain free.
A Great Time For Upgrades
The upgrades to the Freewallet functionality come at an ideal time, especially with Bitcoin breaching its all-time high this year. In general, the crypto industry is having a milestone year with increased interest from retail and institutional investors. With the improvements, users of the Freewallet ecosystem will conveniently take part and benefit from the changes happening in the industry. In a market that experiences high volatility, transaction speeds have never been more important for investors.
Freewallet Was Already A Solid Platform
The improvements to the infrastructure add to an already great platform that had robust security and an intuitive design. These features have helped the platform scale into a one-stop-shop for managing and storing crypto assets.
While commenting on the upgrades, Solomon Brown, the head of PR at Freewallet, said that the upgrades were a big step for them and their future progression. He added,
“This is a big step for us and where we are going as a platform. For a long time, we have wanted to make Freewallet a place where users of all experience levels could simply and conveniently take care of all their crypto needs. Now, with the fastest exchange speeds, low transaction fees, and the best security out there, we are really proud of what our users are getting.”
Getting Started On Freewallet
Getting started on Freewallet is quick and easy. To begin using the wallet, head over to the website, and provide a phone number, email address, or your Facebook account.
Users get access to a great wallet that has already won accolades within crypto circles. In 2018, Freewallet Crypto Wallet was named the third-most-popular online wallet for Android users. That was quite an achievement, especially since there is an abundance of crypto wallets entering the market. Today, Freewallet comprises a family of over 30 standalone applications. The wallet supports over 50 coins plus all ERC20 tokens. It is accessible via a web portal or as an app for Android and iOS devices. Some of its core features include:
- Built-in exchange for more than 100 cryptocurrencies
- The platform supports storing and managing digital assets in a single interface
- Cold storage support
- Support for 13 different languages
- Multi-signature confirmation for each transaction
- Free transactions with other Freewallet users
- Automatic backups
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice.