Mark Weaden
Review
Learn more about Bread Token.
Bread Token Review
Bread is a mobile cryptocurrency wallet that is not only easy to use but also comes with rich features. The Bread Token is used in this ecosystem. Users that are completely new to the cryptocurrency world can effectively use the wallet. It supports ETH, BCH, BTC as well as all ERC20 tokens. Bread Tokens majorly used to store, send and receive Bitcoin. It is decentralized and does not need servers to function.
Launch, ICO and Market Cap
The Bread Token was launched in December 2017. The token provides discounts as well as other services when using the Bread wallet app. It is the first cryptocurrency wallet that rewards its users through its loyalty and customer rewards program. Despite how competitive the cryptocurrency market is, Bread has been able to attract over 650,000 customers which are located in over 150 countries.
The Bread wallet is free on both iOS and Android. It’s also easy to set up. You don’t need to register or provide your personal information while setting the wallet up. You can either import a Bitcoin wallet or create a new wallet after downloading the app.
The user-friendly interface of the platform makes it easy for users to send and receive Bitcoins. In the menu option (for some countries), you can buy Bitcoin directly from the app.
When you’re sending Bitcoin, you can do so by paying either ‘regular’ or ‘economy’ network fees. The regular fee usually confirms within an hour while the economy fee confirms within 24 hours. This, however, depends on how busy the Bitcoin network is.
Bread wallet is connected to the internet. The wallet is very useful if you move Bitcoins around frequently.
How Bread Token Works
Bread token is similar to the Binance coin, which enables people to carry out transactions on the Binance exchange at a cheap rate. The Bread token will give room for discounts as well as other services within the Bread app. For instance, if you are buying Bitcoin via the app and you incur a 5 dollar fee, you may have an option to pay 3 dollars when you use Bread tokens. We hope that holding Bread tokens will yield many benefits in the future.
Over 88 million BRD tokens are in existence (88,862,718 BRD tokens). About two thirds of these tokens are distributed through a presale and crowdsale. These sales yielded 32 million dollars. Each ETH was priced at 900 BRD.
Users can earn from the tokens in many ways. You can receive free BRD tokens in the future by posting about the token on your social media platforms or answering surveys. You can also earn from Bread token by holding a certain amount of Bitcoin in the Bread wallet.
Team and Founder
Aaron Voisine and Adam Traidman founded the Bread token in 2015. It has 15 team members.
The goal of the Bread team is to give room for the buying and selling of Bitcoin via the app in many countries. The most interesting feature of Bread token would be the ability to buy new ICOs through the app with the use of the tokens.
Bread Token Technology
Platform
The tokens can be found on the Ethereum network as a standard ERC-20 token. This implies that access to these tokens can be easily bought, sold or transferred without depending on the Bread platform.
The tokens will remain in the user’s control. This will go a long way in giving the user the flexibility to send the tokens or use them as he or she wishes.
Algorithm
The token has a less popular hashing algorithm when compared to other similar cryptocurrencies. Bread token makes use of a known Proof system (Scrypt and PoS); a combination that is fairly unique.
Smart Contracts
The main smart contracts for this token and Bread Crowdsale are based on OpenZeppelin’s MintableToken and Crowdsale base contracts. Ganache-cli was used for development.
Scam Accusations
No fraud accusations have been associated with this token.
Where to Buy Bread Tokens
Different promotions, contests as well as giveaways are currently been envisaged to aid the distribution of Bread tokens. However, if you want to start trading Bread tokens right away, you can buy the tokens from, inter alia, the exchanges listed below:
Conclusion
Bread token does not give any financial benefits. You use this token within the app as well as within the platforms of decentralized financial services. Bread token has nothing to do with equity, virtual equity or company performance.
Although Bread’s idea of creating a decentralized bank appears ambitious, it is also appealing. If you want to use the Bread app, then you need to consider acquiring the Bread token to save some money and also improve your user experience. Judging from the success recorded with exchange specific coins, Bread token has what it takes to create opportunities for various wallet specific tokens.
