Hierarchical Deterministic
Open Source
Full Control Over Your Money
Only on Android and iOS
Partial control over transaction fees
Validation – SPV
Does Not Collect Any Customer Information
No Two-Factor Authentication
No Multisig
Bread Wallet Review: Features and How-to-Use Guide
Bread (BRD) is a mobile cryptocurrency wallet, compatible with iOS and Android. Its standalone nature indicates safety for your assets. They are not stored on a server, so there is no chance of hacking or the server going down. BRD wallet grants constant access to your coins, tokens and it is directly connected to the Bitcoin network.
This simple and secure tool is on the market since 2015, it is free to download and adds support for new cryptocurrencies, which is not typical for BTC representatives. In this Bread wallet review, you will find out all features plus how to use it.
01.Bread Features & Fees
Bread wallet protects your information and combines convenience with security. Such app is a proper option for non-technical users and Bitcoin beginners. This third-party BTC representative handles transactions differently. The information is not sent to the Bread’s servers first and then to the network. BRD mobile wallet connects you directly through the app, which increases your privacy and allows the transactions to be processed through a more decentralized environment.
You are in full control of your keys, and therefore your funds. Even if this strengthens the security of Bread, the lack of 2FA doesn’t help for standing out among the other Bitcoin wallets out there. What’s more, the ability to buy coins directly through the wallet interface relying entirely on third parties can be criticized.
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Web Page Interface
Pros & Cons
This section aims to present the advantages, as well as the disadvantages of Bread. It is good to get familiar with what this mobile app has and what is lacking. This way your decision will be precise and informed. Check out the table below:
- Easy to Use Design and interface are smooth and user-oriented
- Control Over Funds Decentralized features are assisting with the users’ full control over their funds
- Decentralized Verification It makes transactions quicker and easier
- Ready to Go No signup or registration needed
- Direct Buy Buy BTC and Ether directly through the app
- No 2FA No extra protection layers
- No Multi-Signature Transactions are done without multi-signature required
- Use of Third-Party Services Actions like buying Bitcoin, require third-party services
Are You Interested in the Bread Wallet?
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Read More on Multi-Coin Support and OS Compatibility Below
Multi-Coin Support and Operating System Compatibility
At first, Bread wallet started as a single coin app. With time and hard work from the developers, this tool evolved and now it works with more cryptocurrencies like ETH, BCH and ETH-based tokens. Check some of them out in the lists below:
You got familiar with the supported coins and tokens. All that is available for users working with iOS and Android, because Bread wallet is created exclusively for mobile devices. If you are a person, who always has a mobile device laying around, BRD might be just the right choice for you.
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App StoreiOS
Requires iOS 11.4 or later
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Google PlayAndroid
Requires Android 6.0 or later
Is Bread Safe?
Security
Security plays a leading role when dealing with transactions online. Is Bread safe – this question is easily answered with yes, thanks to the ability to set a PIN as an extra layer of security. The PIN code will be entered every time you decide to use the app. A quick substitute is setting up the fingerprint reader on your device. This is a great way to stop any attempt for entering your wallet, even with a stolen device password. In case you have problems remembering or entering the PIN, just reset it using the paper key.
Direct Access
Users have direct access to their funds, because BRD connects straight to the network. No one else can access your account and payments don’t rely on third-parties
Verified Transactions
Each of your transactions is verified before its completion. This leads to safe actions – if corrupted, the transaction is done through another node
Privacy and Anonymity
The anonymity of Bread is presented by its HD characteristic. Even when the Bitcoin network lays on a public ledger, the hierarchical deterministic aspect of the app makes linking transactions to a specific user much more difficult.
Hierarchical deterministic (HD)
This characteristic generates numerous receiving addresses. Each one carries one transaction.
Is Bread the Wallet for you?
Download HereTransaction Fees
With the Bread wallet, transaction fees are out of your reach. They can’t be adjusted manually. Fees are fixed and depend on the network current workflow. They are based on process periods and recommended in a timely fashion.
Conclusion
Bread is the simple and yet reliable mobile wallet, for anyone using iOS and Android devices. It is designed to facilitate the users, provide sufficient level of security, plus its responsive UI helps beginners to get along with this app and perform transactions easily.
For many of you, the lack of 2FA and multi-signature might be a setback when choosing a wallet. There is another mobile alternative, called Coinomi. It supports more coins, tokens, the security has several extra layers and features abound the ones used by the Bread wallet.
02.Bread Wallet Guide: How to Setup and Use
This part will show you every step of the way from choosing an OS to sending and receiving cryptocurrency via the Bread app. The first action explained is related to the installation, then the interface is presented followed by creating an address, backing up and restoring this simple and yet useful crypto tool.
How to Install
This step starts with picking the compatible OS option, matching the one you plan to use. The installation is explained in the next tables, divided for each operating system for your convenience.
Choose Operating System
- Click the button for iOS and go to App Store
- Download the app from the App store to your mobile device
- After being installed, run the app
- Click on download for Android and you will be redirected to Google Play
- Download the BRD app from the store to your mobile device
- After that the app will be installed and ready for you to run
Interface Overview
The whole concept of the Bread cryptocurrency wallet is wrapped around simplicity and smoothness. The design catches the eye with the lack of high-end colors. Basic and extended features are clear and visible. Every screen from the menu is accompanied by usage explanations. While in your Bread app, you can keep track of BTC prices on exchanges, balances, transaction tags and many more. You have it all in your sight.
Create an Address
Every new wallet address is generated automatically. You can choose to reuse the old ones or present the freshly created public keys. Bread keeps the old addresses active, even if you don’t see them in the app. When executing several transactions in a short period of time, the wallet will use the same address.
Send and Receive Assets
Bread wallet can be explained with one word and it is simplicity. It makes the two main actions send and receive, a piece of cake. The app assists you through every process by intuitively guiding your actions. Here comes the fast and easy to use QR code option for transferring cryptocurrency.
Hint: in case you send coins to wrong address, they are lost forever. Always check before taking actions.
Backup and Restore
Backup
Install and create new wallet
Every new Bread wallet provides you with a paper key. These twelve randomly generated words are your access option in case of lost PIN or device. Use that paper key to restore your entire BRD wallet.
Keep your paper key safe
It is best if you keep this word combination offline. The paper key can be written down and put in a safe place. In case somebody gains access to it, your assets are at potential threat.
Restore
Install and restore wallet from the paper key
Take your 12-word paper key from the wallet you want to recover. Go to Select Recover Wallet/Next and type in the words. Keep the right order, or it will not work. Then set a PIN and confirm it.
Wait until wallet sync to blockchain
In order the restore procedure to be completed, make sure you leave the app open with the screen on for an extended period of time. It can take up to 45 minutes.
Specific Functions
BRD allows you to buy Bitcoin directly through the app. This is fast and convenient way combined with no data and personal information collected at any point. All you need is your credit card and you’re good to go.
Possible Issues and How to Avoid Them
There are some possible issues related to security and synchronization. Basically, if you type in the wrong PIN too many times, Bread will be disabled for a certain period of time. This way intruders can be easily scared off. There is a timer showing when you can try with the PIN again.
As far as syncing is concerned, when it takes too long or doesn’t complete at all, here is what you need to do:
- Switch between mobile data and WiFi or vice versa
- Try using different location and internet connection
While the process is running, leave the screen of your phone on the Bread app and check it from time to time.
03.FAQ
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What does the paper key mean?
This 12-word phrase is automatically created by the wallet, once launched for the first time. Write it down and keep t safe. It is used to recover your wallet in cases of damage, theft or intrusion.
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How to import a BTC paper wallet?
With Bread wallet, this process in most of the cases is done via QR codes. They can be named ‘private key’ or ‘paper wallet’. The import of either in your BRD app follows these steps:
- Go to Main Screen/Menu
- Then Preferences/Bitcoin Settings/Select Redeem Private Key
- Click on Scan Private Key
- Once the QR code is processed, every content on it will be transferred to your Bread wallet
04.About Bread
BRD, or previously known as Breadwallet was created for Bitcoin, but in time has evolved and now supports other coins and tokens as well. This app is a free digital tool and is oriented towards becoming one of the easiest mobile wallets for beginners. The robust security infrastructure of the app protects your privacy and personal data at any time. All the ideas and development of the Bread crypto wallet are coming from the company behind it, situated in Zurich, Switzerland.
Bread on Social Media
Social media presence is important for the wellbeing of every digital product. Bread uses that opportunity and presents every news and announcement via several main crypto channels: