What is Bread (BRD)?
Future of BRD Cryptocurrency and know how to buy BRD

What is Bread coin?

#1 - What is Bread?

Blockchains are quickly becoming the modern equivalent of what apps were to smartphones when they took off a decade ago. There’s a blockchain for everything - from cloud storage (Siacoin) to identity verification (Civic). But the original point of Bitcoin, the very cryptocurrency was to overturn the traditional banking system. An interestingly named token - Bread, is here to bring us back on track for this original goal.

Bread: The Basics

  1. Bread technology intends to reinvent and revolutionize banking as we know it. By building a blockchain synced, Bitcoin-based wallet, the idea here is to decentralise banking and make it accessible to everyone.
  2. This may sound like Bitcoin’s original goal, but Bread intends to accelerate this vision, and in fact, uses Bitcoin to do this.
  3. The Bread blockchain uses the BRD token to accomplish its operations, while the token itself serves multiple other purposes, discussed below.

Development

  1. Bread was established in Switzerland back in 2015.
  2. The organisation has been doing rather well - having snapped up more than 1 million customers spread across an astonishing 150 countries.
  1. After having raised $32 million in an ICO, the company also launched a loyalty program that awards customers on purchases made using the BRD token.
  2. It does this by offering discounts and add-on services when transactions are made using its own app - called the Bread wallet.

 

#2 - What are the Benefits of Bread?

  1. With a blockchain connected, easy to use Bitcoin wallet, Bread makes it easy for you to transition to a truly decentralised banking service.
  2. It also provides portfolio management tools to offer a comprehensive banking experience.
  3. Purchases made using its BRD token attract loyalty points and rewards, giving customers another lucrative reason to use the Bread wallet app.
  4. As its whitepaper states: “Traditional financial platforms have many weaknesses and single points of failure. Banks and investment firms are subject to embezzlement, mismanagement of funds, and occasionally complete insolvency which leads to catastrophic results. Credit card companies have costly overhead and choose to distribute loss due to fraud to all customers equally, which means diligent, careful customers are paying for the mistakes of those more careless.”
  5. With its decentralised, blockchain-connected app, Bread hopes to usher in a new way of banking.

Technology

  1. At the center of the Bread technology is its wallet app - called the Bread wallet. The app is available on both iOS and Android.
  2. The Bread wallet app works both as your banking service app and as a portfolio management tool that also manages your loyalty and rewards programs.
  3. Since the app is connected to the blockchain, it is in theory, a tamper-proof bank.

Value

  1. The Bread app will allow users to send and receive Bitcoins, buy and sell Bitcoins, and manage their funds and purchases, all from within one app.
  2. With its reward and loyalty systems tied to its BRD token, users will also get discounts on Bitcoin purchases and other transactions they make on the Bread wallet app.

 

#3 - How to Buy and Store Bread?

How to buy Bread

  1. Bread is yet to see large scale adoption in the crypto space but is already traded on Binance, OKEx, KuCoin and Cobinhood.
  1. It is paired with BTC, ETH and USDT, which means you can buy it using your Bitcoin, Ethereum or Tether holdings.
  1. While cryptocurrency exchanges provide you with a platform to buy or sell the BRD cryptocurrency, CoinSwitch, best cryptocurrency exchange comes in to help you make the right decision by providing the prices for  BRD on multiple crypto exchanges. It supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose whichever pair you want with your token and compare the prices at exchanges. This way you can choose the best deal for you!
  1. What’s more - with CoinSwitch, you do not rely on a separate BRD wallet from the exchange to store your BRD cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

Storing BRD

Being an ERC20 token means you can store Bancor in any Ethereum wallet. The most popular such wallets are the online service MyEtherWallet, or for desktop applications - check out Parity, and imToken.

 

#4 - What is the future of Bread?

Bread was officially launched in 2014 itself and even raised VC funding to the tune of $7 million in August 2017. It then went the ICO route in December 2017, where it made available 88 million BRD tokens. $32 million was raised in the price, with BRD being valued at the rate of 900 for every 1 ETH at the time.

As of June 2018, just over 6 months later, its value had fallen to above 1600 for every 1 ETH. Not very positive indicators, these.

Also Read: Complete Analysis of Bread | Live Bread (BRD) Price Charts And Predictions

BRD Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jun 01, 2018

0.543827

0.568846

0.520240

0.565949

5,514,830

48,086,700

Apr 01, 2018

0.389893

0.436925

0.371109

0.405767

781,035

29,003,500

Jan 01, 2018

1.69

1.89

1.61

1.75

21,491,200

100,913,000

Dec 24, 2017

1.55

1.98

1.55

1.89

56,455,400

-

 

#5 - How is Bread different from other cryptocurrencies?

  1. While Bitcoin seeks to push forward the adoption of a decentralised economy, such large changes may typically need institutional support. That is what Bread is doing, by connecting the Bitcoin blockchain to mainstream users via an accessible mobile app and other complementary features to support a transition to decentralised banking.
  2. The BRD cryptocurrency itself is an ERC20 token, which means it resides on the Ethereum blockchain and no Bread mining can occur, unlike in other major coins - Bitcoin, Ethereum itself, Monero or more.
  3. It can be used as a token for loyalty points and rewards - another institutional tactic to push for adoption amongst the masses. This sort of functionality is natively missing in legacy cryptocurrencies.

 

#6 - Should you Invest in Bread?

  1. A decentralised banking system was Bitcoin’s original vision that is either taking too long to fruition, or we’ve become an impatient audience. Whatever the case, Bread wants to accelerate the transition.
  2. A significant decision the Bread team took was to introduce the BRD token - which, with its cheap rates and loyalty/discount offerings, may emerge as the primary incentive for users joining the platform.
  3. If this is indeed the case, expect a spike in the value of the BRD cryptocurrency, something investors right now would be eyeing closely.
  4. Having said that, its fall in value since the ICO is certainly a cause for concern, and investors are advised to do their research and analyse before taking decisions.
Related Searches