What is the Bread Token?

Bread Token is also known as BRD provides discounts and several other services when using its Bread wallet application. Bread is the first form of a cryptocurrency wallet that provides its customers with a rewards program. More than 650,000 customers have used Bread across 150 countries, and the company aims to keep them in the Bread Ecosystem.

What is the Bread Wallet?

The Bread wallet is an application free of charge on any iOS or Android device. Its easy to set up and requires no personal information during the set-up process.

How does the Bread Wallet work?

 When downloading the application, you can import your Bitcoin wallet or create a new one. When creating a new wallet, you’ll be provided with a ‘paper key’ a series of 12 words that will be used to restore access to your wallet. If you decide to use a different wallet at any point in time the 12 words can be used to generate your private key and to recover your bitcoins. The keys are only applicable when using your device therefore there is no risk of getting hacked. There are options for sending and receiving bitcoin as well as directly buying bitcoin within the app itself. When sending there are two options to choose from, either regular or economic. The regular is able to confirm your transaction within one hour while the economy fee confirms your transaction within 24 hours. 

The bread wallet is what we also call the hot wallet. It is accessible online as well as enables users to move bitcoins frequently.

Accessibility:

The ultimate goal Bread wants to introduce to the public is a decentralized bank. Bread doesn’t actually hold any of your money. Just like Airbnb doesn’t own hotels and Uber doesn’t own cars rather they both do business with them. Bread simply deals with the sending and receiving of your money. The company is located in Zurich and provide their services all around the world. 

Bread will partner with a number of financial institutions to enable “buying and selling of Bitcoin, direct deposit of wages into Bitcoin, payment of bills, buying and selling of tokens, tracking ROI of crypto assets, etc. They are aiming to reduce customers’ dependence on traditional fiat-based banks and move them to the world of decentralized banking.”

How to buy, store and manage your BRD token

Bread partners with third parties in various countries. “If you open your Bread in Japan, you will be given access to local exchanges and services that are legally compliant and serve customers in Japan. If you travel to Germany and open your Bread there, you will see the services that are available for use in that region.”

Bread can send up to $20,000 in Bitcoin per day and $50,000 per month in some regions. However, while the basic functionality of the BRD wallet may be used anonymously, purchasing from these third parties requires some personal information.

If you want to use the Bread app, you should consider purchasing the BRD token to save money and improve your user experience. As seen by the popularity of exchange-specific currencies, the BRD token may pave the way for several other wallet-specific tokens.