What is Bread?
Bread (currently known as BRD) is a popular wallet and rewards platform for various cryptocurrencies including Bitcoin, Ethereum, and numerous ERC-20 tokens. It supports more than 150 tokens and what’s more – it is one of the simplest wallets around. It has apps available on both iOS and Android devices, as well as a desktop application. Bread allows users to purchase tokens via credit or debit cards, Bitcoin ATMs, or even at some convenience stores.
It is designed as a non-custodial wallet, providing a highly secure (and of course – stored in the blockchain) solution with a straightforward interface to its users who face the choice of their first wallet.
Bread was an early player in the cryptocurrency wallet space. It started as the first decentralized wallet in the App Store for storing Bitcoin. Later, it grew to support a wide choice of coins and started to offer an option to buy, sell, or even swap cryptocurrencies when partnered with exchanges.
Use Cases of BRD Tokens
The Bread token (BRD) was created at the end of 2017 to support the wallet user base and blockchain ecosystem. It is a standard ERC-20 token based on the Ethereum blockchain. BRD was crucial for the implementation of the BRD Rewards Program. In a program, each holder of BRD is given a unique reward ID, which allows the user to participate in various promotions and giveaways.
One of the most important features of BRD is the possibility of taking advantage of in-app discounts and special pricing. Almost all services offered by Bread’s partners through the Bread app have two different price levels. The regular price is paid in Bitcoin, Ethereum, or other currency, and a special discounted BRD price. The value of BRD tokens is can be seen on the live BRD price chart above.
This means that, if a user is purchasing a given amount of token, which is charged with a $5 fee, the user can choose to pay the standard fee using USD, or he can use BRD as a way of payment and, for example, only pay $3 worth of BRD tokens, calculated by the real-time market value.
The benefits of the in-app BRD price are varying depending on the product or service which is being purchased though. A user makes a choice at the time of checkout, and, if the preferred option is to pay with BRD tokens, they are automatically deducted from the user’s wallet.
More utilities include saving money on Ethereum network fees when sending transactions and incentives in exchange for network-beneficial activity. BRD can be earned for posting on social media, answering opt-in surveys through the app, or maintaining a wallet balance above a certain threshold.
Who Founded Bread?
The wallet was released in 2014, while the company – Breadwinner AG (in 2017 rebranded to Bread) – was founded in 2015 in Switzerland by Adam Traidman and Aaron Voisine. It raised over $50 million in venture capital and ICO funding.
Before this project, Adam was the CEO of WearSens, a wearables startup focused on monitoring eating habits. He is an angel investor and venture partner with a Silicon Valley venture capital firms. Adama began his career at the NASA Jet Propulsion Laboratory and Caltech in hardware and software engineering.
Aaron, on the other hand, was co-founder of Lightt, a popular social video-sharing app. Also, he led mobile app development at Yammer and Banjo. Besides, Aaron has many years of experience as he held a variety of software development positions at Silicon Valley mobile app and web companies.
You can obtain Bread tokens in the BRB app and some of the top centralized and decentralized exchanges. If you plan to do that, before proceeding, make sure to analyze the aforementioned Bread price chart above.
