Bread is one of the largest and fastest growing digital currency companies, with 750,000 customers in over 140 countries, protecting billions of dollars worth of bitcoin.
The Bread team announces a large scale expansion of their platform, transforming the company from a simple bitcoin wallet to a fully functional decentralized financial platform for cryptocurrency holders.
The expanded platform will retain the ease of use that is so compelling for entry-level cryptocurrency adopters but will now provide the support, functionality and flexibility that can be found in more traditional fiat based financial institutions. The added ability to manage Ethereum, Bitcoin Cash, and Ethereum-based tokens within your Bread wallet will be the first of several improvements.
Many banks and credit card companies offer loyalty programs to retain users and increase the value of their products. As Bread progresses towards becoming the world’s largest, decentralized financial institution, they will now launch their own loyalty rewards program, Bread Token or (BRD). This will be a digital asset built on Ethereum that users will be able to hold in their Bread wallets.
A maximum of 160,000,000 (160M) bread tokens will be issued, and will be priced at 900 BRD tokens per 1 Ethereum.
- Up to 106 million tokens may be sold to participants.
- 32M tokens will be used for administrative costs surrounding the token sale, including giveaways in marketing campaigns, airdrops to current Bread users, partners, etc.
- 22M tokens will be retained by Bread to support future roadmap development, operations, and grow the Bread brand.
Bread tokens will bring various benefits to Bread customers. For instance, paying with Bread tokens will provide a large discount on service fees when buying or selling bitcoin or Ethereum through the app. Secondly, the more BRD held by an individual customer, the greater the perks, such as a dedicated support phone number, access to early pre sales of qualified ICOs, and exclusive invitations to events around the world. Additional premium services will be rolled out gradually.
Bread (originally breadwallet) was established in 2015 as the first decentralized bitcoin wallet app of its kind on Apple’s platform and is now on Android as well. Bread’s platform includes a simple and secure wallet that is ideal for both beginners in cryptocurrency and established users.
Bread is evolving in its ability to hold any and all cryptocurrencies like BTC, ETH, ERC-20 and ERC-644 tokens and counterparty assets, making it the first cryptocurrency wallet of its kind to do so.