Cryptocurrency‘s interest is to be able to fully control what you own, or as it is sometimes said, “to be your own bank”. To do this, you have to use softwares called wallets that allow you to keep, send, and receive funds.
If you often use platforms like Coinbase, these are not wallets, but “crypto-banks” that keep your crypto-assets for you.
This tutorial will teach you to install and use a wallet for Bitcoin on a smartphone. We have chosen to present here the BRD wallet, which is very accessible and quite well designed. Although we present only one, keep in mind that all wallets work similarly.
The BRD wallet is quite old in the world of cryptocurrency. Formerly known as the Bread Wallet, its development dates back to 2014. Today it allows the use of Bitcoin (BTC) but also Bitcoin Cash (BCH) and Ether (ETH).
It also allows to manage a significant quantity of ERC-20 tokens, including the bread token (BRD), which is the token linked to the application.
How to install the application and secure your wallet
Like most wallets, BRD is free and open-source, which allows code auditing and ensures that developers cannot access your funds. The application is available on Google Play for Android and on the Apple Store for iOS.
Install the application and launch it. The home screen will prompt you to create a new wallet or retrieve one. Choose to create a wallet.
To create a wallet, the application first suggests you create a 6-digit PIN code. This code will be used to unlock the wallet and send money.
Be careful to memorize it.
You are then offered to save a “recovery phrase” by writing it down somewhere. It is a 12-word recovery sentence in case of breakage or theft of the device.
Be careful! This key gives you full access to the funds in your wallet: you should never reveal it to others.