Instant (off-chain) transactions

When transferring from a Freewallet account to another Freewallet account (in one chain), the transactions occur off the blockchain.

What are the advantages of such transactions?

Speed

Off-chain transactions are completed instantly, no need to wait for any confirmations.

Costs

Transactions off the blockchain are not a subject to the fees miners are paid for their services in verifying the ledger. With off-chain transactions, you can make lots of very small transfers.

Naming

With off-chain transactions, you can send coins to other Freewallet users simply by referencing their user ID or email instead of using the address.

Privacy/Anonymity

Because off-chain transactions do not happen in the blockchain, they are not public. But this also can be a disadvantage, as there is no ability to publicly confirm the transactions. 

Transfers between Freewallet customers (in one chain) are instant as they are recorded internally in our database. Use wallet address, email or User ID to make quick no fee transactions.

Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.