Cold Storage

As you might already know, our top priority is the security of customers' assets and accounts. That's why we have chosen to use the cold storage technology, which means that your funds are safely stored offline with a bank-level security grade. We can guarantee no money can be lost or stolen from our secure offline vault.

But rest assured - you can access your funds at any time. No need to transfer funds from the vault to your account. No additional fees or actions are required.

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 would be a risk because if the access to your device is compromised, it would give a hacker an opportunity to steal your assets.

Your current balance is reflected in the app, but when you receive a transaction, the sum is actually moved to our hacker-proof cold storage, where it is absolutely safe. When you are sending a transaction, your funds are transferred from the cold storage. Please note that you aren't charged with any fees for such transactions.

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 no fees are charged for such transactions.

Thanks to the cold storage technology, even if your phone is lost or stolen, you can easily access your wallet using another device. There is simply no safer way to manage your coins, and there is no simpler way to achieve such an advanced level of security other than using Freewallet.

We are providing you with long-term support and your funds are and will be safe with us.


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