BRD Wallet Review – A Beginner’s Guide
By: Ofir Beigel | Last updated: 4/24/20
BRD, formerly known as Bread Wallet or just Bread, is one of the simplest and easiest cryptocurrency wallets around. In this review I’ll cover the different wallet features and share everything you need to know about it before using it.
BRD Review Summary
BRD is a mobile cryptocurrency wallet that is simple to use and feature rich. Complete beginners will find this wallet to be an excellent gateway for the cryptocurrency world.
The wallet supports BTC, BCH, ETH and all ERC-20 tokens. BRD allows buying and trading of certain coins from within the app.
That’s BRD in a nutshell. For a more detailed review keep on reading, here’s what I’ll cover:
- Company Overview
- BRD Wallet Review
- Supported Coins and Payment Methods
- Customer Support and Reviews
- Frequently Asked Questions
The company launched BRD initially under the name BreadWallet. In 2017, the company rebranded to Bread and conducted an ICO for its token, BRD.
While many Bitcoin wallets overload users with extensive onboarding processes and a confusing interface, BRD is as simple as it gets.
The wallet’s design is appealing and extremely intuitive, and there’s a built in tutorial for people who are just getting started with Bitcoin or cryptocurrency in general.
Like many other wallets, BRD offers the option to buy or trade Bitcoins and other cryptocurrencies from within the app. Credit card Purchases are facilitated through Simplex, the leading credit card clearing solution for most cryptocurrencies today.
Fees for credit card purchase are around 7.5%, which is pretty competitive considering the alternatives for credit card purchases on the market.
BRD supports storing of the following coins:
Payment for cryptocurrencies can be done with the following fiat currencies:
It’s possible to buy the following cryptocurrencies from within the app:
- DAI (ERC-20)
It’s possible to trade the following cryptocurrencies from within the app:
- BRD (ERC-20)
- TUSD (ERC-20)
- DAI (ERC-20)
BRD supplies its users with an extensive knowledge base that will answer most of the frequently asked questions that may come up.
Additionally, you can write a dedicated email to the company’s support staff, or get dedicated phone support if you hold more than 2500 BRD tokens (I haven’t tested out this service personally).
When it comes to user reviews, BRD seems to be crushing it with a 4.4 rating on the App Store and a 4 star rating on Google Play.
Most negative reviews complain about app bugs and errors (mainly in the Android version). The BRD support team makes it a habit to answer each and every reviewer, which is a huge thumbs up in my book.
On the iOS version, reviews are more positive with many reviewers requesting additional coin support and fee customization.
All in all, it seems that BRD is doing a very good job in keeping its customers happy. Considering that usually only discontent users write reviews, making them mostly negative, the current satisfaction level from BRD online is pretty amazing.
BRD is considered a very safe wallet due to its open source, non custodial nature.
BRD is a non custodial wallet, meaning you are the only one who has access to your private key (also known as a seed phrase). Additionally, the wallet’s code is completely open source, making its code much more trustworthy as other community members frequently review it.
The wallet has a PIN protection whenever you launch it, which can be replaced with a finger or face scan on compatible devices. In case you forget your PIN, you can always restore the wallet from the seed phrase supplied to you on setup.
BRD tokens unlock a long list of perks for users of the BRD platform, similar to Binance’s Binance Coin. BRD holders can enjoy 50% off trading fees and dedicated phone support.
Bread tokens exist on the Ethereum network as a standard ERC-20 token, which means access to these perks can be freely bought, sold, or transferred independent of the Bread platform.
There aren’t many cryptocurrency wallets out there that are suitable for complete beginners, but BRD seems to be one of them. The simple and intuitive design, complete with additional features like buying and trading, make this app a great gateway to the cryptocurrency world.
Have you used BRD? I’d love to hear what you thought about it in the comments section below.
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