In modern times, cryptocurrencies and digital assets are the new money, and crypto-wallets have become the new banks. One has to speak the crypto language well. Therefore, the right choice of Bitcoin wallet app is of utmost importance. Especially if you have recently started using cryptocurrencies and would like to operate Bitcoins but don’t know where exactly to start, the BRD wallet is the best choice. It does contain all the necessary features for the first Bitcoin wallet.
The BRD Bitcoin wallet is probably the simplest Bitcoin software. BRD is recommended for beginners in the Bitcoin world as it is safe and easy-to-use software. This BRD review will give the basic information on this Bitcoin wallet, BRD token, app features, benefits and drawbacks, and how to use it.
Here is the summary of this BRD Review:
- General Information on BRD Wallet: Review
- History of BRD: Aaron Voisine and Adam Traidman
- How to sell Bitcoins via BRD
- Supportable payment methods and coins
- Customer support
- Often asked questions
- Bottom line
General information on BRD wallet: Review
The BRD wallet is an application used on a mobile device (supportable by iOS and Android). The Bread wallet allows to keep, buy, trade different cryptocurrencies and store digital assets. It is compatible with most currencies, including Ethereum and all ERC-20 tokens (the full list will be given below).
Benefits of BRD wallet
BRD is a non-possessive wallet, which means that its owner is the only keeper of the keys. No one else can access them. You can install a bread wallet both on Android and iOS. It is available for download in the Google Play Store and App Store, respectively.
As mentioned before, what helps the BRD wallet to stand out is its easiness. Unlike many other cryptocurrency wallets, it is not overloaded with intricate instructions. Conversely, the BRD wallet’s user interface looks very convenient and features an onboard manual. It doesn’t concern BRD significantly but gives basics on cryptocurrency and Bitcoin in general. That way, it surely does save newbies much time.
The BRD wallet also offers support of Segregated witness (Segwit), an upgrade to the Bitcoin protocol. All these properties make it a perfect choice for novices in the cryptocurrency world.
Possible drawbacks of BRD
However, BRD is not always convenient for experienced Bitcoin users. One of the not-so-many downsides of it is that you can’t keep huge amounts of Bitcoins in the wallet. For that purpose, you can use hardware wallets such as Ledger Nano X and Trezor T.
As an alternative, you can create a paper wallet with a QR code and a paper key. That way, before you decide which wallet to use, it is better to do some analysis of your needs. One more downside to BRD is that it doesn’t support personalized mining fee management.
History of BRD: Aaron Voisine and Adam Trainman
BRD is a company based in the USA. Firstly it was founded under the name of Breadwinner AG in Switzerland by Aaron Voisine and Adam Trainman. From 2015 and until 2017, the application was called BreadWallet.
Then the company changed its name to Bread and launched an ICO (Initial Coin Offering) to raise funds for the new-sprung BRD token. Nowadays, the venture capital of the company amounts to 50 million dollars.
How to Sell Bitcoins via BRD
Like the vast majority of cryptocurrency wallets, it supports trading and buying Bitcoins and other cryptocurrencies right in the app. Credit card purchases are conducted through Simplex and Wyre.
The fee for a credit card purchase is minimally 5% which is pretty much if compared to other methods of payment on the market. However, there is a way to avoid paying fees for cryptocurrency users – you need to buy Bitcoin outside the app by non-cash payment. After this, transfer coins to the BRD wallet.
Supportable payment methods and coins
In BRD wallet, you can store digital assets for free and make payments, using more than thirty fiat currencies, such as EUR, GBO, DKK, CAD, USD, buy: ETH (Ethereum), XRP, and BTC, and trade: BRD (ERC-20), BCH, BTC, and ETH.
You can store the following cryptocurrencies in the BRD wallet: all ERC-20 tokens, TrueUSD (a stablecoin of ERC-20), Ethereum, Bitcoin Cash, Bitcoin, HRP, HBAR. Bread wallet doesn’t support additional coins: Monero, Litecoin.
The BRD official website has a broad information database on the cryptocurrency wallet with a wide range of frequently asked questions. In addition to that, in case one owns more than two thousand five hundred tokens, there is a premium phone and email service. To get it, you should write an email to the company.
It has an average rating of 4.4 stars among user reviews on the App Store and Google Play. Users left most of the negative reviews because of occasional glitches in the Android version. However, it doesn’t work for iOS – there aren’t many complaints so far.
BRD support team reacts to every single request very quickly, which deserves respect. They are accommodating and do a great job in helping users to solve their problems.
Is BRD a safe crypto wallet?
It is a very secure Bitcoin wallet because it is a non-possessive open source. As we mentioned before, the owner of the bread wallet is the only one who has access to it. Additionally, the BRD wallet has got a PIN code that can be changed anytime.
To change a PIN, you will need to do a face and a finger scan. In case of a PIN loss, you can restore it using a seed phrase. However, it is not safe for large sums of Bitcoins. To keep them, you would better choose a hardware wallet.
What is the bread token?
The BRD token was launched by ICO (Initial Coin Offerings) in 2017 with a starting price of 0.8 dollars. ICO is a service for fundraising through the distribution of crypto tokens. The same year, the token was dropped by more than ninety percent.
There are lots of benefits for users of bread wallets, including premium user support and low trading fees. The incentive scheme is similar to that of Binance Coin. The BRD tokens can be found on the Ethereum network. It means that the benefits of Ethereum can be used and distributed independently on the BRD platform.
They are presented as an ERC-20 token. Users can buy, sell and distribute them independently on the platform.
The bottom line
BRD wallet is among the very few cryptocurrency wallets perfectly convenient for beginners. It has all the necessary features, such as a perfectly convenient interface, guidance on how to use cryptocurrency, and an opportunity to sell and trade right in the app.
Two functions are currently missing from the bread wallet but are very desirable to appear. These are the support of additional coins like Monero and Litecoin and personalized fee management.
Is the BRD app safe?
Yes, it is completely secure. The BRD wallet gives its users full control. As it is open-source, the only person who can have access is its owner. Moreover, it is protected with a PIN code which can only be changed by a face or finger scan. One can always access it without using a server.
Is BRD a Good Wallet?
It depends on what amount of cryptocurrency you are going to keep. It is perfect for beginners in crypto because it is a safe and convenient mobile app with all necessary wallet features. It is good to store a relatively small amount of cryptocurrencies, so it is better to opt for hardware wallets if you want to store huge amounts.
It supports a wide range of cryptocurrencies to buy, sell or keep, but beware of high fees. All in all, this is one of the best wallets for starters, as it includes everything that is necessary.
Is BRD a Good Investment?
Due to its facility, it has attracted a lot of users. Now it has an extensive network of users. This Bitcoin wallet has a high reputation among users, and it is a ready-to-use product, which allows potential investors a great opportunity to invest. Therefore, it is generally considered a prospective investment. Nevertheless, it is better to keep an eye on graphs.
Can BRD Wallet Be Hacked?
For this moment, there hasn’t been a single case when it was hacked. Keeping cryptocurrency in the BRD wallet is safer than keeping money in the bank. The keys are stored in the hardware itself, accessible all the time, and can be taken only by physical robbery. The recovery key should be written down and kept in a safe location.
How to Recover Bread Wallet?
It depends on the situation. If you need to restore the previous wallet, you should choose a ‘Restore Wallet’ option and insert the recovery phrase that must consist of 12 words, and then you have to set and repeat the new PIN. In case of losing your wallet, then click Settings and import the BTC address. Insert your private keys.