Freewallet Enables Support for Bitcoin Gold in Wake of Third-Party Wallet Scam

Journalist:
Josiah Wilmoth @Y3llowb1ackbird
November 20, 2017

Cryptocurrency mobile wallet service Freewallet has launched the first dedicated wallet for Bitcoin Gold.

Freewallet had already established support for BTG in its multi-currency wallet, but the company decided there was enough community interest in the coin to justify launching a full-scale BTG mobile wallet.

The Android version of the wallet is currently available in the Google Play store, and Freewallet says that it has submitted the iOS version to the AppStore and hopes to see it approved within the next week.

“That’s the second Bitcoin chain split we’ve supported,” stated Alvin Hagg, Freewallet co-founder, in an announcement posted on the company’s website. “And Freewallet managed to provide uninterrupted operations during both of them! When a new cryptocurrency is born and a new network is launched, it means there’s a great opportunity for our users to get free coins and instant profits. And Freewallet’s mission is to make sure they are happy because that’s what makes us happy, too.”

Freewallet’s launch of a dedicated BTG wallet is a much-needed shot in the arm for the fledgling cryptocurrency. Bitcoin Gold launched to little fanfare — and a DDoS attack — after forking away from the main bitcoin blockchain, and it has struggled to gain traction during its early days.

In addition to questions over its mining software code, one of the third-party wallets formerly featured on the coin’s official website has reportedly turned out to be a scam. As explained in a developer statement (PDF), the source code for MyBTGWallet was apparently replaced after its initial release, enabling the wallet’s creator to steal as much as $1 million from unsuspecting users who neglected to transfer their BTC balances to a new wallet before importing their private keys into MyBTGWallet.

At the time of writing, bitcoin gold was trading at $127, which represented a single-day decline of 10%.

Featured image from Shutterstock.

Tags: Bitcoin Gold
Josiah Wilmoth @Y3llowb1ackbird

Josiah is the US Editor at CCN, where he focuses on financial markets. He has written over 2,000 articles since joining CCN in 2014. His work has also been featured on ZeroHedge, Yahoo Finance, and Investing.com. He lives in rural Virginia. Follow him on Twitter @y3llowb1ackbird or email him directly at josiah.wilmoth(at)ccn.com.