BreadWallet prides itself on being “safer than a bank vault”. Bitcoin traders and those who want to make transaction with crypto digital currency do want their accounts to be safe. A unique wallet that provides heighten security is going to be appealing to such users. A wallet that is incredible easy to use – another trait Breadwallet promotes – is going to be preferred by users as well.
Breadwallet is an iOS app. Those who are interested in acquiring this app for Android cannot do so at this point. Currently, the “iOS exclusive” nature of Breadwallet has led to the program becoming popular with those who are fans of the operating system.
One huge benefit to this particular wallet is it requires no personal information. One reason people like to deal in Bitcoin is they are able to maintain their privacy. Not having to disclose personal information helps with this cause immensely. Also, in the terrible situation someone breaches the security firewall’s of the system, there is no personal information to compromise. Personal information is not logged.
All someone has to do to get started with the app is to download it. Google Play and the App Store are two reliable venues in which the downloading can be done. Consider that another huge positive. Downloading from these established venues is going to be more desirable than procuring an app from a mysterious source.
Those who are interested in sending or receiving money can do so in the form of Bitcoin. With Breadwallet, these transactions can be done 24 hours a day. Since the app is downloaded to a mobile device, the transactions are able to be performed from any location. Once the transaction is completed, the deposit/withdrawal is automatically logged. Accounts are always up to date.
Breadwallet is not an app that is loaded with a host of features. In many ways, this is a plus. Users who want a basic wallet and not one with a host of “bells, whistles, and gadgets” are going to be pleased with the simplicity inherent with Breadwallet.
All of this is facilitated thanks to the lack of a server. So, when a transaction is processed, no third-party server is required to complete the processing.
Speed of transactions is further enhanced due to the integration of a SPV client, a client that will accept a trusted node and not weigh down the process with too many verifications.
The open source nature of the program combined with the ability to store and unlimited amount of Bitcoin should pique the interest of wallet seekers. Security is also going to be a concern and wisely so. The enclave technology used with Breadwallet works to enhance security of stored assets.
A unique passphrase made from a dozen totally random words is used to sign into a Breadwallet account. The passphrase is suggested to be written down on a hardcopy and put in a place for easy access in case forgotten. Storing on a hard drive would not be the most secure strategy.
Again, Breadwallet employs a very basic and simple system. These are attributes and not drawbacks to a host of users.