steem freewallet is an open source wallet and easy to use wallet for storing steem funds. It is available in android and ios devices. This wallet still posses some features of a wallet, even though it is no longer available.
The security of steem freewallet is not that high, as it involves a third party. The third party can easily have access to the user's account. The user has no control over his account.
The steem freewallet wallet has 2-factor authentication and hierarchical deterministic.
Since the released of this wallet, I've been having some doubt about it. The management and maintenance of this wallet is very poor. The wallet is currently out of service. Steem freewallet is not a trusted Wallet. It is not a recommendable wallet for trading.
The developers has a lot inorder to improve this wallet.