By
Svetlana Soroka
February 4th, 2021
Freewallet, digital currency wallet with a built-in exchange, is looking forward to 2019 as a breakthrough year for the company after reinvigorating its digital wallet platform with a multitude of updates in 2018.
Following the rapid expansion that took place in 2017, Freewallet took measures to bolster its security and scalability, and set the stage to cement its status as the elite crypto-custodial service on the market in the coming year.
Market Madness in 2017
The end of 2017 was a manic time in the cryptoverse. With the crypto-boom came a dramatic increase in newcomers, each needing a safe and secure place to exchange and store their assets. Subsequently, Freewallet’s user base exploded, reaching unprecedented numbers and, as a result, the scalability of the platform changed.
As a new company just starting out, Freewallet was not fully capable of handling such a steep increase in requests and activity. There were some growing pains as the company rushed to adapt to its new requirements and not everything was done ideally.
2018: The Year of Security
In 2018 Freewallet made efforts to ensure that not only does it provide its current customers with a top-of-the-line product, but it also has the resources and capabilities to accommodate and anticipate changes of course.
This year has been the year of security at Freewallet, and the Freewallet development team has added numerous features aimed at making their platform as safe and trustworthy as possible, including:
- two-factor authentication;
- mandatory pin code access;
- active sessions control;
- real-time status tracking on transactions.
Meanwhile, the Multiwallet, released in the fall of this year, is set to become the first European crypto-custodial service licensed by the Malta Financial Services Authority. The release of this white-label custodial wallet, with its unique capabilities, signifies Freewallet’s push into the realm of b2b services.
B2B and Big Things in 2019
In short, 2018 was a big year. But Freewallet is looking forward to even bigger things in 2019. Having laid a foundation to build upon, Freewallet is looking to further expand its operations as it continues its founding mission of bridging people, regardless of background, with the possibilities afforded by the crypto space.
As per the company’s roadmap, next year will see a number key changes happening at Freewallet:
- crypto purchases via fiat will be incorporated into all platforms;
- withdrawals will also become available in fiat;
- support will be upgraded with a VIP option;
- Freewallet will offer merchant services for b2b uses.
Crypto continues to evolve and it has become more evident that rather than burning down the establishment, it has a real opportunity to restructure the establishment into something more advantageous for everyone. And as the overall function and capabilities of cryptocurrency are being refined, so too is Freewallet.
The coming year will be consequential for the future of cryptocurrency. Keep an eye on Freewallet as their process of refinement and expansion moves forward.
