Breadwallet, which debuted in 2014, is the first standalone iPhone Bitcoin wallet, and it’s easier than sending an email. It is important to note that no personal information are required, you need to just download the app. Breadwallet is a real standalone bitcoin client, unlike iPhone wallets. You can always access your money because there is no server to get hacked or go down. This wallet gives you complete financial freedom and control. Banking hours and hidden fees are things of the past, and you can send and receive any amount of bitcoin, anywhere, at any time, with total financial privacy. Breadwallet connects directly to the bitcoin network using SPV mode.
Breadwallet is the Next Step in Wallet Security
By building on iOS’s strong security base, breadwallet is designed to protect you from browser security holes, malware, and even physical theft. It’s safer than a bank vault and it still protects you from forks. With app sandboxing, AES hardware encryption, keychain and code signatures, breadwallet represents an important security improvement over web and desktop wallets, and other mobile platforms. Bitcoin is emerging as a viable alternative asset, and that’s why you should use breadwallet to keep your long-term investment secure yet accessible for everyday use. This wallet also allows you to keep your eye on the bitcoin price.
Breadwallet’s core design principle is simplicity. All you need to restore your wallet on another phone if yours is ever lost is a simple recovery phrase. Breadwallet is “deterministic”. This means that your balance and entire transaction history can be restored from just your recovery phrase. It is important to note that you should take the time, to write down your recovery phrase on a piece of paper. You shouldn’t take a screenshot or write it on any device connected to the internet, because if anybody were to get a hold of your recovery phrase, they would be able to steal your bitcoins. We recommend that you keep this piece of paper in a bank vault or place with similar security if you plan to keep significant amounts of money in your wallet.
Here is an overview of best cryptocurrency wallets.
Breadwallet has announced $7 million in new funding, and it raised funds from a group of investors that includes Maffin Inc, Liberty City Ventures, Globe Advisors, East Ventures, DAS Capital, OKWAVE and Saison Ventures. According to the firm, an unnamed group of angel investors and family offices also took part in the round.
Breadwallet indicated it plans to use the funding to expand its marketing teams and business development. They also want to invest in new functionality for the bitcoin wallet itself.
It is also important to note that Breadwallet has also announced that it is setting up new headquarters in Switzerland because they want to join an increasing number of cryptocurrency and blockchain startups that have made their home in the so-called “Crypto Valley.”
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com