Instant transfers and their advantages

Transaction fees are required to support the blockchain networks that process and secure cryptocurrency transactions. These fees are not collected by us; they are paid to network participants (such as miners or validators) who confirm transactions and ensure they are recorded on the blockchain in a timely manner. They also contribute to the ongoing operation and security of the respective blockchain network.

When transferring funds between two Freewallet accounts (within the same blockchain network), transactions are processed internally and do not take place directly on the blockchain.

Advantages of Freewallet Instant Transfers

Speed

Instant Transfers are completed immediately, without the need to wait for blockchain confirmations.

Lower Costs

Instant Transfers do not require payment of blockchain network fees associated with transaction verification. This makes them convenient for frequent or small-value transfers.

Simplified Transfers

Instead of entering a long blockchain address, you can send funds to another Freewallet user using their Freewallet ID or email address.

Privacy

Since Instant Transfers are processed internally and are not recorded on the public blockchain, they are not publicly visible. However, this also means that these transactions cannot be independently verified through a blockchain explorer.

Freewallet Instant Transfers are available for all supported currencies within the Freewallet ecosystem.