There are countless of Bitcoin wallets on the crypto market, and it is rather difficult to find out which one is the best as per your needs. Of course, it should be done after reviewing pros and cons.
Either you want to do all sort of transactions or simply hold the coins entirely depends upon your choice. Not all wallets let you buy/sell so figure out your needs and start your search.
Consider storing, sending and receiving bitcoin via Bread’s simple yet secure mobile wallet app.
Bread was previously named “Bread wallet”- a free digital wallet app for bitcoin. Bread bitcoin wallet mainly emphasizes on user experience. This makes it the easiest mobile wallets for beginners to start with.
Headquartered in Zurich, Switzerland; the Bread company induced a robust security infrastructure within the app to secure personal privacy.
What is Bread?
Bread wallet is one of the simplest bitcoin wallets to use. It is available as a mobile app for iOS and android.
A streamlined, highly intuitive design makes the process fast to log in, create account and transact bitcoin. BRD is the simple yet secure onramp to Bitcoin, Ethereum, and other digital currencies.
Under the hood, the mobile wallet protects all the personal information with privacy. The Bread mobile wallet supports iOS (including Apple Watch) and Android.
BRD is a venture-backed company with customers in over 150 countries as well.
The Bread platform is powered by BRD or the Bread token. This let you:
- Directly deposit funds to one another
- Receive payments
- Pay for a wide range of services and goods including:
Bread Mobile Wallet Fees
Bread wallet is free to use. However, you need to pay fees to the bitcoin network.
You may also incur some fees that your bank and/or third-party service charges to link your account to the wallet.
Bread Wallet Features
The app wallet entirely simplifies the two main screens for sending and receiving money. This helps all users to guide for making easy transactions.
Bread wallet puts simplicity as key feature and offers a QR code scanning to transfer money.
SPV (simplified payment verification)
SPV is the reason of bread wallet to be the most secured iOS wallets. The users can directly link to the bitcoin network and make payments.
Sending, storing and receiving bitcoins becomes secure and easy. The bitcoin addresses and balanced can easily get recovered through this system.
Additional Bread Bitcoin Wallet Features:
- Allows privacy as the company itself does not access the account or transaction details of the users
- The wallet uses best encryption methodologies
- You need not sign up or register to use the bread wallet
- Design and interface is simple and easy to use
- Help buttons on each screen is available with detail explanations
- An open source platform, still in development and upgrade with excellent features
Where is Bread Bitcoin Wallet Available?
You can download Bread wallet:
- IOS from Apple’s App Store
- Android from Google Play store
Partners and Integrated Software- Bread Wallet
Bread Bitcoin Wallet- Languages Supported
Company / Organization behind Bread Wallet
Bread Wallet was launched in 2015 by Aaron Voisine and Adam Traidman. The company has reached a total investment of $7 million USD. They believe in the value of independence and financial freedom. They desire to empower people across the space by leveraging the possibilities bitcoin offers.
How to Add Bitcoin to Bread Mobile Wallet?
Adding bitcoin to Bread wallet is very simple. It includes some built-in options rarely available in other wallet apps. To get started with Bread, you will first need to download the app, either for iOS or Android.
- When you launch Bread wallet for the first time, choose “Create a New Wallet”.
- Select a six-digit pin code to log into your new wallet.
- After this, Bread will create a master “seed phrase”, also named as “paper key”. The phrase is a series of 12 random words. This phrase helps you recover your wallet when needed. Write it down and store them safely.
- Bread might ask you to enter in few words to verify that you’ve written down the seed phrase.
- Now, your new wallet is ready to use. To add bitcoin to the wallet, you get some options. If you have bitcoin, transfer it to the Bread by hitting “Receive”.
- In the “Receive” panel, you will see the QR code, wallet address, and a link to share this detail via email or text message. Simply forward your bitcoin to the new address via any of these options.
- If you don’t have funds, you will get the option to purchase bitcoin directly via Bread in “Menu”.
- To purchase bitcoin in cash, Bread wallet provides a convenient mapping feature allowing you to find bitcoin ATMs and retailers in nearby area.
How to Make Payments via Bread Wallet?
Bread links directly to the bitcoin network. It does not process transactions via company’s servers. So, transaction speed might vary based on network activity.
- To send a bitcoin payment, navigate to the “Send” option on Bread’s home screen.
- To input the receiving address, paste it or scan a QR code via phone’s camera.
- After entering the wallet address of the payee, enter the amount to be sent.
- You can scroll to view the amount in bitcoin and fiat currency for easy conversion.
- Optional- Add a message in the “Memo” field.
- Confirm the details of the transaction and hit “Send”.
- Bread uses a simplified payment verification (SPV) model. It enables faster transactions on the bitcoin network. As the transaction gets verified, it will reflect to the blockchain. The fund transfer gets completed. That all.
Is Bread Mobile Wallet Safe?
Bread wallet differs from third-party bitcoin wallets in the way it handles transactions. Rather than sending details to Bread’s servers, then to the bitcoin network, it directly links users to the bitcoin network from within the app. This allows the transactions to process via more decentralized environment giving more privacy to users.
Bread wallet never stores user data or private keys on their servers. You have full control over your funds all the time.
However, Bread mobile wallet offers a strong level of security; it lacks the two-factor authentication feature.
Additionally, it’s vital to note that some Bread wallet features like:
To purchase bitcoin directly via the wallet interface, depend on third-party apps which might have separate security practices can be a concern.
The Future of Bread Wallet
Bread has ambitious plans, and according to their whitepaper what’s coming next:
- Saving services
- International money transfer
- Peer to peer lending services
- Crypto escrow
- Portfolio management
- Performance tracking solution
The Bread Token
Bread token, or BRD, is designed on the Ethereum network and is a standard ERC-20 token. Bread tokens let holders to access a huge range of reward tiers, discounts, premium features, complementary services, and even entire white glove service.
You can earn BRD via promotions, like giveaways, surveys, and automated airdrops. Importantly, BRD offers a full white paper outlining the structure of the platform on the ICO website.
The Bread ICO
Bread ICO will issue 160 million Bread tokens where 105.5 will be handy for purchase. 32 million BRD will be reserved for promotional and corporate use, while 22.5 million tokens will be kept by Bread.
The rate of 1 ETH will be 300 BRD that will be sold by Bread with both the crowd sale and the presale capped.
Based on the Bread roadmap, most of the above facets will be coming throughout 2018. Including over 500,000 downloads already; BRD will explode after it launches a payments platform with decentralized asset exchange.
Bread Bitcoin Wallet Review
Breadapp is growing it’s functionality by offering partnerships. Some common customer complaints comes as- lost funds, slow sync, no web or desktop interface, lacks features. If there are ups, there also exist some downsides as seen earlier.
However, the team is trying hard to fix all its issues and give user satisfaction. To opt for a bitcoin wallet that offers smooth transactions and secure storage, bread wallet is the reliable wallet you can consider.