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Bread Wallet Review
The Bread wallet is built on the principles of financial freedom. This is reflected in the wallet’s native coin, the Bread (BRD) coin. Bread, as the cryptocurrency wallet is now known, is headquartered in Zurich, Switzerland. The wallet’s security is built to protect users’ privacy. It is also a good product for crypto wallet beginners considering its simple user interface. Via the wallet, users are able to purchase digital assets and trade one for the other.
In 2015, Aaron Voisine and Adam Traidman launched the Bitcoin wallet app Breadwallet as a product of the Bread Company. The wallet has since grown to operate in more than 150 countries with its largest customer base in North America. The wallet was initially designed for iOS users. However, it has since released also an android version.
In August 2019, the team announced that users in 28 EU countries will now be able to purchase ETH with Euros via their credit cards or through bank transfer. This is in addition to six EU countries where users already have access to this function.
Bread is a renowned iOS wallet with its unique security features that give users full control over their funds. The wallet also protects against theft, which was why the founders chose to build on the iOS platform. There is no server to get hacked or go down, so you can always access your money. Using SPV mode, the Bread wallet connects directly to the Bitcoin network with the fast performance you need on a mobile device. It prevents third-parties from accessing user funds as everyone have complete control over their Bitcoin transactions.
The company also has Venture Capital backing. The company and its wallet faces rivalry from other cryptocurrency wallets such as Bitpay, Coinbase and many others.
Bread Wallet Supported Coins
Bread wallet is predominantly a Bitcoin wallet. However, the wallet supports, inter alia, Bitcoin Cash, Ethereum, True USD (ERC-20 stable coin), and all ERC-20 coins.
To find out where you can obtain the above cryptocurrencies in the first place, go to our Cryptocurrency Exchange List and use the filters to find the right exchange for you.
Bread Wallet Fees
A network fee is required when sending coins from this wallet. The transaction fee is not fixed and may be calculated based on the activities of the wallet. Users who receive large amounts of BTC and send vast quantities as well will be charged lower fees. On the other hand, buying coins through the wallet incurs a 5% fee when using a credit card.
Also, users can purchase coins using the following fiat currencies USD, EUR, CAD, DKK and GBP. It is also possible to purchase Bitcoin, Ethereum, DAI and a few other c cryptos from the wallet.
Bread Wallet Price
This wallet is free to download and use. However, you will have to pay network fees for transactions carried out on the wallet. You are also charged a fee for third party services such as bank charges when you use the app.
Bread Wallet Ease of Use
The user interface of is easy to understand. Setting up the wallet is easy for beginners as most essential features are on the homepage. Bread has a simple interface, and there are no complex charts. Users can access the prices of Bitcoins on exchanges, the balances and the likes on the homepage. Users can utilize a QR code scan to transfer money.
With the following steps, you can begin to use the wallet:
- Download the app from the app store.
- Set up your backup key and PIN code, ensure you write these down somewhere safe.
- Your wallet is set. You can now generate your QR and address codes.
- Your Bread Wallet is ready, and you can now send and receive Bitcoin.
The company behind this wallet has really focused on user satisfaction. This is why the wallet protects the personal information of its users. Bread does not send its users information to its servers. Instead, Bread connects its users directly to the Bitcoin wallet from the app.
In addition, you don’t have to provide any e-mail address or personal details in order to use the wallet. However, you might need to present this to use the third party features.
The Bread wallet is a non-custodial wallet. This means that you are the only one who has access to your private key. Bread does not use 2-factor authentication; instead, it uses a pin. If a user forgets his/her pin, he or she can restore the wallet by using the seed phrase.
Breadwallet is strictly a mobile wallet. This is one way the wallet is fortified to protect its users from malware and theft. AES hardware encryption and code signatures protects the wallet as well. An additional security point for Bread is its touch ID, and six-digit pin which gives its users added security. The wallet utilizes simplified payment verification (SPV). This is a secure way of carrying out transactions without the interference of third parties. All of the above, taken together, makes Bread a safe wallet.
Where to buy Bread Wallet
You can find the wallet for download on Google Play and Apple Store.
If you prefer to have a cold storage for your digital assets, see our reviews of Trezor, Ledger Nano S and KeepKey.