@Cyberspace is pushing it to the limits this time with our 1st product review of the Freewallet.org All-in-One Wallet!

The Test

We will send Steem to the BTC Wallet via Blocktrades and Watch What Happens to our BTC in this wallet Before/During/After the Aug 1st Hardfork - IF our Steem even makes it to the wallet!

Will it work? Will we lose our bitcoins in transit or after Aug 1st Segwit? Or will we double our money? Find out by following this 3 part series here @cyberspace!

I decided to risk it all in the last hours before Bitcoin’s Infamous Aug 1st Segwit Hardfork - and what better time to put the new Freewallet All-in-One Wallet to the Ultimate Test!?

That’s right - I am laying all my newly bought and hard earned STEEM - all of them - on the bleeding edge front line!

Everything needs to work flawlessly to pull this first part of the test off:

1. The Steemit.com blockchain transaction of Steem to...
2. The cryptocurrency exchange (blocktrades.com) who needs to convert Steem to Bitcoin (in the 11th hour before a historic first hardfork split of the world’s #1 and first cryptocurrency Bitcoin) and send it to…
3. A new unreleased All-in-One wallet (Freewallet.org) that holds 23 top cyber coin accounts inside one Android app!

That's just the beginning! After we navigate these uncharted waters we still have to make it through the narrow straights of the Aug 1st Segwit fork - AND after shooting those rapids, come out on the other side alive with our original Bitcoins (BTC) and hopefully an equal amount of Bitcoin Cash (BCC) that may/will be launched as a result of the hardfork!

Not for the feint of heart - so climb aboard and full STEEM the sails for exciting times ahead on cyber seas!

Before we launched this adventurous voyage aboard this tiny ship - @cyberspace - there was a massive storm of reports on Steemit.com of exchanges shutting down trading in Bitcoin, Ethereum and Litecoin. How many big whaling ships decided to sit it out by anchoring down in safe harbours?

What are our chances?

To make it even more exciting, I decided to throw caution to the wind and flaunt the sagely advice from my friends at Minnow Support Project (@minnowsupport) - the “cyber rough guides” who said not to use an online wallet!

Admittedly, I will face slimmer chances of threading this ship through the SegWit needle and coming out intact, but somehow “I’m feeling lucky.”

I totally got that @Minnowsupport advice- but to do this review we had to throw the pristine new wallet - and Freewallet.org along with it - into the dreaded Bitcoin Segwit INFERNO M.O.A.T. (Mother Of All Tests) to see what they are really made of!

Steem Self-Funded Experiment

I joined the Internet almost 40 years ago and Steemit.com 12 days ago where I wrote a few articles (see here), made some SBDs and bought my first 16.427 Steem on the internal Steemit market at SBD1.255/per Steem. You guys made it all possible by your upvotes!

Now my precious new micro-fortune of Steem will be serving as the raw material for our litmus test that will either increase our money post Aug 1 by forking into two currencies - BTC and BCC (bitcoin cash) - or get ground up in the process like hamburger - eaten up inside the dark vociferous belly of lost cyber transactions - never to be seen again! Why?

The Reason Why We Do This

So that you and your cryptocurrency may live a better and more secure life!

Think of this as a consumer safety “crash dummy test” of a new cryptocoin wallet ramming into a big old heavy duty blockchain at full speed! Ouch!

Now let's do this! Get ready to EARN or BURN - my money!

Step 1 - Download the Wallet

Earlier I downloaded a Freewallet.org Bitcoin wallet, then an Ethereum Wallet and then a Dogecoin Wallet and then I was getting tired of downloading wallets.

Then the All-in-One wallet popped up on the list of other apps by the same developer.

I read the app description and how it held many coins in one wallet (23 at present with more on the way) and initially thought that putting all my eggs in one basket was risky - but a whole lot easier than downloading and managing 23 wallets!

EOS Inside

This all-in-one approach reminded me of @dan’s concept of the EOS platform as an operating system for multiple blockchains. I am not ready to dub this “the EOS of wallets”, but it kinda already is because - SURPRISE - EOS tokens are one of the 23 coins included in this wallet! I have to admit - that sold me more than if it would have said “Intel Inside”.

Want to follow in my footsteps and brave it with me out on the limb of this app that doesn't post any google play reviews yet (unreleased apps don't show reviews)?

I thought so...here’s the link to the All-in-One:

Download link https://play.google.com/store/apps/details?id=multi.org.freewallet.app

Step 2 - Enjoy Easy Access

Click on the top left wallet to reveal the list of all the 23 supported coins and switch between your 23 wallets! When you download the wallet it automatically creates all 23 wallets for you linked to your Oauth, mobile or email. For security purposes, I won't reveal my choice, but you should look into the pros and cons of each method and decide which is best for you.

My Need for This Wallet - Easy Access

My justification for even thinking about using an online wallet was that I can use this wallet as a temporary holding platform to receive and process funding transactions for the Cyberspace Universal Happiness Project (CUHP) at https://discord.gg/7sADNnp and @cyberspace.

My current near term plan is to anchor my crypto wealth to Steem based on my preliminary analysis of all things crypto-blockchain (see my Analysis of Steem's Economy here).

As such, I really needed something like this to receive, convert, hold and transfer multi-coins short term. This app supports all the coins I valued and planned to walletize (and a few I’ve yet to glance at). On top of that it comes with its own exchange, which presumably means you can exchange any of the 23 coins with any other. Time will tell if this is really the ticket.

Step 3 - Be Secure When Using Wallets

To reduce the risk and make things more secure you can apply some of these tips and tricks to better secure your phone and wallet (link courtesy of @rondon at Minnow Support chat - a great Steem advisor!) https://steemit.com/bitcoin/@anarcrypt/how-to-set-up-a-smartphone-for-cold-storage

Encrypt Your Android

To be honest, there are some question marks in some of those tips (like saving all passwords etc to that online cloud service), but encrypting your Android phone first is a must - but realize it factory resets your phone and wipes your data so backup your needed stuff. You can cloud store all your photos, files, mp3/mp4s, contacts (exported to file) and downloads to Google Drive.

Step 4 - Understand the Risks

The Bitcoin wallet contains a link to a notice about Segwit and Post-Segwit risk scenarios and Freewallet’s policy and promise to maintain and protect your BTC and BCC. You need to read this. https://medium.com/@freewallet/bitcoin-hard-fork-and-bitcoin-cash-faq-bd9531ec7422

Highlights from the above…

Freewallet Jul 28 - Bitcoin Hard Fork and Bitcoin Cash FAQ.
On August, 1st new cryptocurrency Bitcoin Cash(BCC) is going to emerge due to Bitcoin hardfork. After Bitcoin Cash wallet is released users who hold any amount of BTC in their Freewallet will be automatically credited with the corresponding number of BCC.

Freewallet respects community decisions and will support any technology with sufficient number of supporters. Our main mission is to provide Freewallet customers with the highest possible security level and make the transition swift and easy, keeping users’ assets safe and secure.

Are my funds safe during the event? Do I need to withdraw my Bitcoin from Freewallet?
Working in close collaboration with Bitcoin developers we deployed a solution to ensure both funds safety and Bitcoin Freewallet operating in full. The team guarantees all their customers will be able to make transactions and manage their portfolios before and after the hardfork.

What will happen to the Bitcoins I own if the split happens?
If the UAHF occurs and a new blockchain is formed, Freewallet will support any major newly born cryptocurrency along with the old Bitcoin. All the customers who hold Bitcoins on Freewallet during the fork will be credited with the equal amount of the new asset.

What is Bitcoin Cash (BCC)?
When the UAHF is implemented, the miners that support it will split away, resulting in a new blockchain and also creating a new cryptocurrency called Bitcoin Cash, or BCC. BCC will be a fork of Bitcoin with upgraded consensus rules, and its main features include the increased block size of 8MB, new transaction signing method and both integrated replay and wipeout protection.

Taking into consideration the high probability of the upcoming hard fork, Freewallet team has developed a brand new Bitcoin Cash wallet that is ready to launch on August, 1st. All current Bitcoin holders will automatically own the same amount of Bitcoin Cash. (See if this holds true in Part 2 of this series!)

What do I need to do to get my BCC?
No special actions are required. Right after the hard fork each Freewallet user that had Bitcoin on his or her Freewallet balance before July, 31st will be automatically credited with the equal amount of BCC.
For additional information kindly contact Freewallet team at [email protected]

Step 5 - Transfer Steem

We used http://blocktrades.us from the steemit.com website wallet tab by clicking on the Steem drop down menu and then click on “Sell”. It took me to this screen.

1 I entered the amount of Steem I wanted to sell: 16.

2 It calculated the Bitcoin amount I would receive: BTC .00709521

3 I pasted my Bitcoin wallet address from my All-In-One Wallet (click on “My Address” and then tapping it to copy it).

4 Click “Get deposit address” button on the Blocktrades site.

5 Then the following screen was generated with instructions how to send my 16 Steem to blocktrades.us to pay for the Bitcoin.

6 Then I went back to Steemit.com in my Wallet tab and clicked on the Steem drop down menu again and selected “Transfer”. Just typed in “blocktrades” in the receiver field and pasted the memo text they gave at Blocktrades in the memo field and sent it.

7 You will see the confirmation at the bottom of your steemit.com wallet tab.

8 If you want more proof then just go to http://steemd.com/@blocktrades and scroll down until you see the transaction with the amount of Steem sent and memo.

9 Blocktrades then sends you the Bitcoin to your wallet. In my case, it was fast. The transfer showed in my All-in-One wallet as pending 34% which means it had maybe 2 confirmations out of the usual 6 for Bitcoin. Within a few minutes it got 100% confirmed.

It was that easy! It worked!

But it is far from being over! Now we wait and monitor the August 1 Segwit hardfork for Part 2 of this series...to be followed by Post-Segwit outcomes in Part 3!

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☆☆☆☆☆ Segwit Monitoring Station - Get Live Updates from 7/31 to 8/6!
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Thanks for Supporting Universal Happiness in Cyberspace by Upvoting, Following, Commenting, Resteeming, and Sharing on FB, Twitter and Reddit!

@cyberspace

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