By
Temitope Olatunji
April 18th, 2024
In an exclusive interview to Coinspeaker, Solomon Brown, head of PR at Freewallet, shares his insights into the Freewallet concept, explains what makes it different from a myriad of competitors unveiling what role they play in the ongoing tech revolution.
Facebook’s release of Libra project accompanied by Bitcoin price spike makes the ever-growing number of people turn to cryptos in a bid to reap financial benefits digital assets present. Not surprising, that now, one of the most common questions asked is: “How do I choose the right crypto wallet?”
While there’s a whole myriad of alternative solutions for storing cryptos, one may easily get confused trying to choose any. That’s why we decided to reach out the team behind the promising solution “Freewallet” and find out: what is that key proposition they target crypto enthusiasts with.
What is Freewallet?
Freewallet was started in 2016. Originally Freewallet was envisioned as a gateway and guide into the crypto world for people who weren’t tech experts but still wanted to get involved and to learn. From there Freewallet has expanded into different areas and roles, but we have kept true to that original vision.
The best way to describe Freewallet today would be as a one-stop platform for everything you need in crypto. Our main function is as a wallet that safely stores users’ funds in over 150 different types of cryptocurrency, including Bitcoin, Ethereum, Monero, Dogecoin, and XRP. In addition, we have a built-in exchange and offer a number of awesome services, like topping up your phone bill via crypto, that provides our users with real-world applications for their funds.
What Problem Does Freewallet Solve?
Freewallet is a solution to the question of “How can people who are new to crypto get involved in the movement in a simple way?” Because we came at the problem with the inexperienced user in mind, you can see our interface and the philosophy of our platform as aimed at resolving the issues that this kind of user would have.
Additionally, Freewallet solves the problem that many in the crypto community face in having funds spread out all over the place, effectively making transactions overly complex and time-consuming. At Freewallet we have a built-in exchange with some of the biggest currencies on the market and we offer our users fee-free instant transactions with other users. On our platform you can get a lot more done in less time and at a lower price.
Which Plans are There for 2019?
First and foremost we are always looking to expand our stable of supported coins. We take the wishes and comments of our users very seriously and when they tell us they want a coin, we do everything we can to make that happen. A while back we set a goal for ourselves of integrating all of the top ten currencies in terms of the market cap into our wallet. As you can see, we were able to achieve that not long ago.
As the necessity for transparency and accountability in the crypto world becomes more and more pronounced, we believe that Freewallet will become an invaluable asset to individual users and companies looking to enjoy the advantages offered by this exciting space without losing the stability of more traditional financial activity.
Moving forward, we are developing our capabilities as a B2B service and hope that we will be able to replicate the success we have had on the individual level in this next sphere sometime in the not-too-distant future.
How is Freewallet Regulated?
In keeping with the spirit of the crypto movement, Freewallet is a decentralized company with employees all over the world. We have many departments: Marketing, Design, Technical Support (both first-line and VIP), Finance, Business Development, Financial Control, Analytics, in-house Development, and a GDPR officer. We have a total of around 100 employees. Though we aren’t all physically together often, we are always in contact with each other trying to improve our product.
We have task managers that lay out what needs to be done, and we have weekly stand-up calls that ensure each of our teams reach the short-term and long-term goals we set. So even though we have a form that is somewhat novel, we are regulated in much the same way as a more traditional business.
What are the Ambitions for the Coming 5 Years?
Looking back, since our founding we’ve done our best to make the most popular and most dynamic currencies on the market available for our users. Now, as cryptocurrency expands into the mainstream, we are looking to make the most important functions and features available to our users.
Historically we have always been focusing on being the first wallet to support new currencies, top features, and services. In the future, we will maintain this philosophy. In five years we want to not only be the premier wallet service on the market, but we also want to be the premier crypto platform on the market.
We have already started putting some of the pieces together that will make Freewallet an indispensable tool for anyone looking to get the most out of the crypto space, regardless of knowledge or experience.
In the coming years, we are looking to play a leading role in the mainstream implementation of cryptocurrency. We hope to bind the stability of old-world finance with the advantages offered by the newest developments in crypto. As always, we are dedicated to the initial democratic principles behind the technological revolution that is taking place right now.
We want the promise that every one of us saw at the beginning of the movement to be able to manifest itself as we move forward.