What is Breadwallet?
Breadwallet is a secure, intuitive and simple mobile Bitcoin wallet for your IOS device. It allows you to safely and securely store your Bitcoin, as well as, send or receive Bitcoin payments both online and in-person. The app connects directly to the Bitcoin network, which means that there are no servers to get hacked or go down. Your Bitcoin funds are always safe, even if your phone is lost, damaged or stolen. Setting up your own Breadwallet is fast and easy, just follow our simple guide below.
Setting Up Your First Breadwallet
Step 1: Downloading the app onto your IOS device
Locate the App Store on your device and search for Breadwallet. Tap “Get” to begin the download and installation process. Once the download has finished and the application has installed, proceed to the next step.
Step 2: Creating your new wallet
Open up your newly installed app. We will begin by choosing new wallet. In order to create a new wallet, we need to generate a recovery phrase. A recovery phrase is a 12-15 word phrase unique to your Breadwallet. If you ever have your phone lost, damaged or stolen, you will need this phrase to recover your funds.
Note: Before moving on to the next step, make sure you have a piece of paper and a pen nearby.
Go ahead and click on Generate Recovery Phrase
Step 3: Write down your recovery phrase
This twelve word phrase is the only thing that can help you recover your Bitcoin. Please make sure to write this down on a piece of paper and store it in a safe and private location. If you have a large balance of Bitcoin, you should look into having this paper safely stored in a bank’s safety deposit box or something similar. Once you have this phrase written down, click on the Remind Me Later link on the bottom right.
Step 4: Setting a 4-Digit PIN
After writing down your recovery phrase, the app will ask you to set a 4-digit security PIN. You will be asked to enter this PIN when sending Bitcoin, checking your Bitcoin balance or reviewing your transaction history. Verify your newly set PIN to finalize setup. Next, we’ll look into some of the options available to you.
Understanding your New Wallet
After entering your 4-Digit PIN, you’re presented with Breadwallet’s main screen. Let’s look into the options we have available to us.
- Send Bitcoin
- Scan QR Code
- By selecting this option, we can scan a QR code generated by another wallet or payment gateway that accepts Bitcoin.
- Pay address from Clipboard
- Choosing to pay an address from your clipboard will automatically use the Bitcoin Wallet address you’ve copied from another location. This will only work if you’ve copied a Bitcoin wallet address to your clipboard.
- Scan QR Code
- Receive Bitcoin
- QR Code
- This QR code can be used as a fast and easy way to accept payment. Just have the person sending to scan the QR code using their wallet’s scan QR code feature.
- Wallet Address
- This wallet address is a unique address specific to your Breadwallet. Share this with the person who you wish to collect a Bitcoin payment from. After accepting payment, this address will no longer be valid and Breadwallet will generate a new one.
- Tapping on this Address: By tapping on this address, you will be presented with 4 options to share your wallet address. You can share the address by message (SMS, iMessage), By Email, Copying to Clipboard to paste somewhere and by Requesting an Amount.
- QR Code
- Transaction History
- Transaction history is a collection of all Bitcoin payments your Breadwallet has sent and received.
You are now setup and ready to start accepting or sending Bitcoin. Remember to keep your recovery phrase safe and to always double check the address you’re sending your Bitcoin to.
Overall, the Breadwallet is a very easy to use and well designed mobile Bitcoin wallet. The developers of the app did a great job.
- Official Website
- Breadwallet on Apple App Store: https://itunes.apple.com/app/breadwallet/id885251393
- Breadwallet on Google Play Store: https://play.google.com/store/apps/details?id=com.breadwallet
- Bitcoin https://www.bitcoin.com
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