Bread Wallet was founded by Adam Traidman and Aaron Voisine in 2014. The popularity of the app has grown over the years to include 8m+ customers around the globe. Currently, there are 47 employees distributed across 7 countries, $55m+ funding secured, and $20B+ in assets under the app’s protection.
What is Bread Wallet?
Bread Wallet is a crypto wallet for mobile use. It supports iOS and Android users, allowing them to store, buy, sell, and swap cryptos, as well as engage in Tezos staking.
Bread Wallet Summary
|Wallet name||Bread Wallet|
|Supported hardware wallet||No|
|Charges||Is free to use, but charges network fees for transacting on the platform|
How does Bread Wallet work?
Bread Wallet works like a bank, only that it is online and decentralized. Therefore, it enables users to hold funds using a private key.
Features of Bread Wallet
The features of this wallet can be found below:
- You can send and receive money anonymously.
- No account, no login is required.
- The wallet has customizable widgets.
- It offers direct blockchain access.
- It has a beautiful, intuitive interface.
What kind of wallet is Bread Wallet?
This app is a hot wallet. It is a virtual wallet that can be accessed online and facilitate different transactions that relate to cryptocurrencies between a trader and end-users.
How to send cryptocurrencies using Bread Wallet
To send cryptos through this app, follow the steps highlighted below:
- Tap the wallet for the crypto you want to send on the main screen
- Click on the send button found at the bottom of the screen
- Enter the receiving address
- Type the amount you want to send
- A Processing Speed section is present in some wallets, so you can choose the network fee setting of your preference
- Add an internal memo in the Memo field, but this is not mandatory
- Press Send, confirm that the details of the transaction are correct
- Confirm the payment with your fingerprint or PIN
What currencies does Bread Wallet accept?
The wallet supports a variety of cryptocoins, which include, but are not limited to, Bitcoin, Ethereum, Tether, XRP, SHIB, Polygon, UniSwap, Bitcoin Cash, Chainlink, Hedera, Tezos, Sushi, and many more.
Is Bread Wallet safe?
BRD is committed to ensuring that your funds are safe. In essence, it stores the “keys” that you use to access your wallet safely in your phone and in no other place. The app also provides you with a distinctive “Recovery Phrase,” which is a list of 12-words that are utilized in recreating the keys to your wallet. To secure access to your app, BRD recommends you use a 6 digit PIN or fingerprint authentication.
Does Bread Wallet charge fees?
Bread Wallet is free to use. Though the app does not ask for fees to send a transaction, the cryptocurrency networks have a “network fee.” Notably, cash advanced fees may be charged by some banks and not the app when you make credit and debit card purchases.
Customer support and reviews
Customer support options are limited to a knowledge base support page and email. The knowledge base page contains several articles that cover different topics regarding the service, troubleshooting guides, and a wide-ranging list of FAQs. For additional help, the advice is to reach the support through their email address.
There are only five reviews for BRD on Trustpilot with a 3.8 rating. The last review was written in 2020. This client was wondering why the wallet was not supporting coins like Tezos, Tron, ADA, etc. The other review, which was written in 2019, says that the app is easy to use, doesn’t take user info, gives free updates monthly, etc.
Bread Wallet pricing
You can download and use this software for free. But as mentioned earlier, transactions might be offered via the app for a fee. Third-party services like bank charges attract a fee.
Bread Wallet vs competitors
If you are having thoughts of purchasing this wallet, you might also want to examine its competitors. Some of the important factors to look out for among the alternatives include reliability, functionality, ease of use, security, versatility, and flexibility. Examples of other wallets that are giving Bread a run for its money include eToro, Exodus, MyEtherWallet, Coinbase Wallet, and Trust Wallet.
Final thoughtsFinal thoughts
- Registration or signup is not necessary
- Supports multiple cryptos
- Susceptible to cyber attacks since it’s a hot wallet
- No recent customer reviews