Bread Wallet Review
BreadWallet or currently known as Bread after their recent rebranding, is a mobile Cryptocurrency wallet app for both operating system Android and Apple OS. Recently Bread have started their own token ICO and successfully ended with the total of 32 Million USD from Pre-sales and Crowdfunding.
- Clean and simple interface , beginner friendly
- Free to use app, Transaction fee are made for Bitcoin Network only
- No personal information or registration required
- Wallet address resets after every transaction for maximum security
- Lack of standard security system , 2FA and Multi signature
- Bitcoin-only wallet
The Bread wallet app is technically free-to-use , however if users wish to make transaction , a transaction fee must be given as an Bounty to Bitcoin network in order to perform any transaction. The fee can be adjusted based on user’s preference , thus higher the Bounty the more faster transaction will be completed faster.
Is it Easy to use?
Bread is easy to use , convenient , and beginner friendly as well. The layout of Bread app is considerably less cluttered and only show important informations that matters.
Key Function and Features
The main function of Bread Wallet is to store Bitcoin conveniently on users mobile device. Being a mobile app , it is capable of allowing users to buy, send and keep Bitcoin. It also have a small widget on top showing the current price of Bitcoin in the value of USD. Sending Bitcoin to another address will be as simple as inputing the receivers wallet address and amount you want to send. A memo can be added as note as well.
Assuming you have installed the app, storing Bitcoin into your wallet will first require you to create a wallet first. The process will proceed as below
- First creating your 6-Digit Input Pin for verification purpose
- After the 6-Digit Pin been inputed , a 12 mixture of words “Seed” phrase will be prompted.
- This Seed phrase is advisable to be noted down on a paper as it is a phrase that only users know and will be used as a safety key in case of wallet or device lost.
- Once again , the 6-Digit Pin will be required. Once the input is done , users may receive Bitcoins into your wallet by the button Receive.
- A wallet address will be prompted and the address will be used for receiving Bticoin from whichever wallet or exchanges you are currently using.
- If you do not own any Bitcoin, there are also the option to buy Bitcoins with exchange which Bread wallet have integrated with.
- However users are advised to read terms properly before buying as there might be hidden charges as well.
So…. how does it works ?
In short , the Bread wallet app directly connects user to the actual Bitcoin Network by using the app. Which means every transactions will by directly sent to Bitcoin’s Network and any transactions will be done there instead going through any intermediaries. The transactions will be verified by Bitcoin’s miners and completed transactions will be added into the blockchain. Thus users transaction are anonymous and decentralized.
Is Bread Wallet safe and cyber attack proof?
Since every transaction is directly sent to Bitcoin network, the transactions are mostly not be able to tampered by anyone else. The wallet are also only privately owned by users themselves and no personal information or private keys are kept by Bread Wallet. Thus it is considerably safe unless your device is accessed physically and they actually have your 6-Digit Pin and private key. To prevent that, users are advised to have a “cold” wallet which solely for keeping your Bitcoins only.
Bread Wallet’s Customer support
Bread Wallet have both mobile app and web versions of Support. Both medium provides a FAQ section for more commonly asked questions. As for more complicated issues such as lost of account or in case you are unable to find your answer on the FAQ , they can be contacted via firstname.lastname@example.org