Bread Wallet Review: Is It The Ultimate Bitcoin Wallet?

Bread Wallet Review: Is It The Ultimate Bitcoin Wallet?

breadwallet
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There’s no doubt that one of the main reasons why tech keeps evolving is to provide more convenience to all humans. This is especially true of Breadwallet, a Bitcoin wallet that operates entirely on mobile devices with Android and iOS operating systems.

And with the rising fuss surrounding mobile devices, the Breadwallet team are keen on tapping into one of the fastest growing forms of technology.

Most wallets start off as desktop-based and then their teams end up creating a matching mobile application for ease of access.

But how exactly is the Breadwallet doing with their specialized wallet?

Come with me as I take you through this Breadwallet review to give you a clearer picture of the platform, including some of its core features, some do’s and don’ts, as well as its safety.

What is Breadwallet?

Here’s a brief introduction to the wallet:

Breadwallet started out an iPhone wallet before it was released as an Android version. This has famed it among mobile users (which is just about everyone) ever since its launch in 2013. Despite the Android versions coming three years later, the platform had always been one of the most popular mobile wallets globally.

The wallet comes with a number of features to cater to the security, privacy, and overall user experience of their platform.

Let’s briefly look at some of its key features.

Features

  • User-friendly: Breadwallet features one of the simplest interfaces of a cryptocurrency wallet. The platform comes with easy navigation buttons for better visibility on smaller mobile devices’ screens. With a simplified view of the two main screens for sending and receiving money, both new and expert users can find their way around the system very easily.
  • Simplified payment verification (SPV): This is one of those features that set this platform apart and made it one of the most secure mobile wallets. With this system, the platform is able to connect and make payment to the Bitcoin network without any intrusion by thirds parties. If you’re looking for simplicity and security under one roof, then this platform might be a great choice to consider. Additionally, it is also easy to enter coin addresses in case you need to send funds.
  • Privacy: User data privacy in a matter that is taken seriously by various platforms. With the rising need for data privacy and legislation (GDPR) in various parts of the world to restrict the use of data in your possession, Breadwallet is always keen on limiting any unrestricted access to user information, including members of its own team.
  • In addition, the platform also conforms to other security measures, including data encryption; this is a technique of protecting user password, transaction history, and more to help you secure your wallet.
  • Easy to get started: Have you ever signed up on those wallets that require you to produce just about all the documents about you? Well, I have. And as much as that may be for your own good, it might not be that convenient for someone looking to store their funds urgently or who isn’t in possession of the documents being asked. Thankfully, with Breadwallet, you don’t need to go through any form of sign up or registration.
  • Easy to get started: Have you ever signed up on those wallets that require you to produce just about all the documents about you? Well, I have. And as much as that may be for your own good, it might not be that convenient for someone looking to store their funds urgently or who isn’t in possession of the documents being asked. Thankfully, with Breadwallet, you don’t need to go through any form of sign up or registration.
  • Easy to get wallet support: Users of Breadwallet can easily get their issues sorted out by using one of the many Help buttons on every screen. This means that you don’t have to exit your transaction to go seek help.
  • Open source: If you’re not keen on getting one of those costly wallets, then you may want to consider going for Breadwallet. The wallet is free and can easily be downloaded from their website and Google Store as well as the App Store.
  • The list is not exhaustive, but it generally describes the core features of the wallet.

Is Breadwallet Safe?

Among all the features that come with this wallet, perhaps the security ones are the most talked about in the crypto community. Users want a wallet that guarantees the security of their coins and the privacy of their data. Like I mentioned earlier, this wallet is built with a host of security features to boost the security of user data and assets.

The wallet directly connects to the Bitcoin network, allowing users to gain access to their funds much faster and more safely. Since the transaction doesn’t go through anyone else, the danger of users’ data being wrongly used by third parties is eliminated.

Unlike most wallets, the Breadwallet team verifies each transaction being executed; this ensures that no erroneous data or deceitful info gets past their system’s audit controls.

Fees

Bread Wallet offers its fees as a percentage of the transaction at hand. According to a number of Reddit users, the platform’s transaction fees keep fluctuating from time to time.

Despite there not being an official record of the transaction fees on Bread Wallet’s official website, we established that at the time of writing this post the fee stood at about 20%. This means that if you transferred 0.1 BTC, you would pay about $200 in fees.

Supported Coins

Breadwallet supports a few but popular coins; they include:

  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • Ethereum-based tokens

Before we come to the close of this Breadwallet Bitcoin wallet review, let’s briefly highlight a couple of notable pros and cons of the tool.

Pros

  • Due to its decentralized nature, the wallet allows users to have control over their funds
  • Breadwallet has a superb data recovery functionality
  • The platform executes its transactions transparently by allowing the users to gain direct access to the Bitcoin wallet without having to go through a third party
  • The platform boasts of a SPV feature, which makes it stand out from the crowd
  • With decentralized operations such as in Breadwallet, the transaction delays are eliminated, allowing users to transact in faster speeds
  • Through digital security, authentication, and private locks, users of the platform are guaranteed of a secure crypto storage tool
  • The platform also comes with an easy-to-use interface

Cons

  • The wallet misses the multi-sig feature, which ensures that a user stays in control of all transactions that occur in the wallet
  • For those who’ve shopped around for wallet fees, you may have realized that the fees applied is a bit high.

Conclusion

This Breadwallet review indeed proves that this might be the best mobile wallet out there; but then again, I’d be happy to hear of a formidable alternative to this wallet. Until then, if you’re using an iPhone or an Android device and you require a crypto storage tool that’s user-friendly, secure, open-sourced, and portable, then this wallet might just be it.

1 Comment

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