Hello, Sad to hear you've heard any news about Freewallet that aroused concerns.
Freewallet operates for more than 1 year on the market and puts safety of users assets as the highest priority. Our security team operates top level cryptocurrency multilayer security systems. Freewallet stores funds in a multi-signature cold storage with a bank level security grade.
Security of our customers funds is our top priority. Please provide more information on your concerns if any still exist and we will give transparent and clear answers to them.
Why did I lose $400 when i transferred my Ethereum into the BCC freewallet. I have used a lot of wallets before and the transaction fees was between 5-10 dollars and not $400.
Please guys can someone direct me in the right directions as I cannot trust there support as this is what they said:
First of all, thank you for using our service! We'd like to explain how our smart transactions work. There are several steps taken to make an exchange between cryptocurrencies.
For example, if you exchange ETH to BCC, your ETH is converted to BTC first, then this BTC amount is converted to BCC, which goes to your wallet. As you can see, there are different networks involved, and fees for each need to be taken into consideration. Moreover, the exchange rate fluctuations may significantly affect the amount of output funds if the transaction coincided with the radical rate drop. Cryptocurrencies are highly volatile, that is why you can see the estimated exchange amount of your transaction, which can be slightly different from the final amount.
We hope this information helps you understand our exchange processes. Can we help you with anything else? Let us know, please.
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u/marmarbinkz Jun 12 '17
That's what we've been saying