This Step-By-Step Guide to the Bread Mobile Bitcoin Wallet shows how to set up and use the Bread mobile bitcoin wallet to manage, send, and receive bitcoin. Bread focuses on doing one thing really well — managing your bitcoin from a cell phone. It is one of our favorite mobile bitcoin wallets because it offers a simple and focused user experience. Let’s get started!
The first step is to download the Bread mobile wallet. It is available for Android and iOS. For this guide we downloaded Bread from the Google Play Store. Note that just recently Bread changed the name of the app to BRD.
There are two steps to create a new wallet in Bread. First, set a six digit pin to enter each time you log into Bread or send bitcoin from Bread. Second, write down your twelve word backup phrase, called a paper key, on a piece of paper. You will need the paper key if you forget your six digit pin. Keep your paper key in a secure location. Do not store your paper key unencrypted on any electronic device.
The home screen of Bread is simple and intuitive. The top displays your balance and search button for viewing past transaction. The middle, currently blank, will displayed completed and pending transactions. The bottom has buttons to send bitcoin, receive bitcoin, and view the main menu. Note: The Bread home screen recently changed because Bread added bitcoin cash support. Now, users select either bitcoin cash or bitcoin first, and then arrive at a screen similar to the one below.
Bread’s partner Glidera lets you purchase bitcoin from a bank account for a 1% fee + $0.50. There are cheaper ways to buy bitcoin. But the convenience of purchasing bitcoin directly from the bread app may be worth it for some. Select Get started with Glidera to link up your bank account for buying bitcoin.
The fourth option in Bread’s menu is the settings. Here you start, import, and recover other wallets. You can also manage basic settings like notifications, the fiat currency to display, and a few other items. The fingerprint authentication spending limit caps how much you can spend every 48 hours using only fingerprint authentication (without your six digit pin). The default require a six digit pin to send bitcoin, even if you enabled fingerprint authentication for logging into Bread.
Next let’s show how to receive bitcoin with Bread. You access your bitcoin address by pressing the receive button in Bread. You will have essentially four ways to get your bitcoin address from Bread to the sender. First, the sender can scan the QR code for your bitcoin address. Second, you can click on the address itself to copy it to the clipboard, as we did below. Third, you can press the share button and choose to email your bitcoin address. Fourth, you can press the share button and choose to text your bitcoin address.
The person sending bitcoin to your Bread mobile bitcoin wallet may be you sending from another exchange or wallet. In this guide we sent bitcoin from the Gemini exchange to our Bread mobile bitcoin wallet. It is simple – navigate to Withdraw BTC on Gemini, copy our Bread bitcoin address into the destination address, choose how much to send, and select Review Withdrawal.
Next let’s show how to send bitcoin with Bread. First, press the Send button on the bottom of Bread. Next, paste the receiving address into Bread or scan the QR code of the receiving address. Finally, enter the amount you want to send in either fiat currency or bitcoin. You can switch between fiat currency and bitcoin by pressing the button next to the amount field.
The bitcoin network charges a fee to conduct any transaction. Bread allows you to adjust that fee depending on how fast you want a transaction to process. You can choose Regular speed to conduct the transaction in less than one hour. Note that the Bread mobile bitcoin wallet is still in the process of integrating Segwit, which should lower transaction costs and increase transaction speeds.