If you’re a safety-conscious crypto owner, you will have considered getting a crypto wallet. We can’t reiterate enough the importance of taking control of your crypto. Leaving it in the hands of exchanges means that you are at the mercy of the exchange security. While these are quite secure, the next step in your crypto life is putting your earnings into a secure wallet.
While hardware wallets are the most secure option, they give up on convenience. This is why a software or mobile wallet is a great middle ground. You gain that added security but retain all the functionality that having a connected device can give you. If you’re looking to learn about the basics of crypto safety, check out our ultimate guide.
The Edge Wallet is one of these mobile wallets and is one of the most popular ones out there. It’s known for making crypto storage simple and easy. In this review, we’re going to be giving you an overview of the Edge and what services it provides. This will give you an idea of why it has become so popular and how it can add to your life.
What is The Edge Wallet?
So first things first, let’s define what exactly the Edge Wallet is. As we already mentioned, it is a mobile wallet designed by Edge and it’s specially designed for those mobile users looking for convenience and security. If you are one of those users, today is your lucky day!
Given that we’re talking about a mobile wallet, the Edge Wallet is only accessible on mobile devices. Sadly, you won’t be able to install it on your desktop, and you’ll be limited to having it on your phone. That being said, Android and iOS users will be happy to know that both operating systems are supported.
You may have seen the company behind the wallet mentioned in the past, as it has been around for quite a while. Edge was founded back in 2014, albeit under a different name. This name used to be “AirBitz” and back then they only accepted Bitcoin in their wallet. In 2017, the company decided to expand its services and coin availability. This prompted a name change to Edge as we know it.
As of today, Edge is focused on providing security and privacy with its Edge Security systems. They are so committed to this mission that they coined the term “Edge Security.” After all, an ambitious goal requires its own title.
Edge operates by following three basic principles: Innovation, Empowerment, and Community. As this Edge Wallet review will show, the building blocks that this product is built upon reflects these key values. Let’s get started by taking a look at Edge Wallet’s features!
What Features Does The Edge Wallet Offer?
You’ll be happy to learn that the Edge Wallet does not skimp on functionality. Not only is Edge Wallet a software wallet you can take with you on the go, but it also packs a punch. With several tools to take your crypto game to the next level, you will quickly fall in love with it.
Let’s take a look at a few of the main features you will find available when using the Edge Wallet:
You’ll be happy to see that you don’t have to go to a separate exchange to buy your crypto. All of the supported cryptocurrencies can be bought without leaving the app. At the time of writing, the wallet accepts credit card and bank transfers, making getting more crypto easy as pie.
The app also incorporates an exchange service that you can use to trade your favorite crypto. This feature is available via partnerships with ShapeShift, Changelly, and ChangeNow, which are some of the most popular platforms available.
In case you want to use your money for groceries or games, you can do it easily. Edge gives you the possibility to buy gift cards from retail sites like Amazon or the gaming retailer Steam. All this is possible thanks to its collaboration with Bitrefill.
The Edge Wallet can help you make the most of your crypto passively. This is thanks to the partnership with the lending and borrowing platform Cred. This means that while you are holding onto your crypto safely, you can still see them grow.
This is possibly the most important feature in this Edge Wallet review. As we will see later in the security section, Edge is fully committed to anonymity-based security. To register, you will not have to give any personal data, ID verification, KYC tests, or similar checks. In fact, you won’t even have to provide an email address. All you need is a nickname and a password. It’s as simple as that.
What Cryptocurrencies Does Edge Wallet Support?
With their wallet overhaul came the added currency support. From its Airbitz, the Edge Wallet has gone on to support a great variety of the most important cryptocurrencies.
With altcoins gaining importance in the crypto world, just supporting Bitcoin has become more difficult. As it stands, the following are the cryptocurrencies you will be able to hold in your Edge Wallet:
|Ethereum Classic||Binance Coin||Bitcoin SV||Litecoin|
While this is not the biggest selection of coins, you’ll be sure to be able to hold most of what you have in your wallet. Even if your chosen altcoin is not on the list, the platform does hear requests to add coins to the platform. As these are added, you’ll be able to find them on their official website.
Does Edge Wallet Charges Fees?
We’re happy to say that you can download the Edge Wallet entirely for free. You won’t be charged any fees for receiving funds either.
You will see yourself paying fees for sending funds, though. That being said, do note that network fees will apply when you send funds out. These charges don’t go to Edge but the parties that are verifying the transaction. How much you pay depends on how fast you want the transaction to complete.
The more you are willing to pay, the faster the operation is done. In this case, you can choose between 3 options: fast, standard, or slow. Depending on your needs, you will know which one to choose.
This model is used by multiple platforms and we believe it is a great model. It lets you balance the speed of your transaction with how much you want to pay.
Buying crypto on the app will come with fees, however. This partnership with Simplex will result in a 6% fee. 5% goes to Simplex while 1% is charged by Edge. This is on the higher side of the spectrum. You are paying for convenience here, so if you’re looking for cheaper fees, we recommend looking at an exchange.
Does Edge Offer Good Customer Support?
In the time we have been doing this Edge Wallet review, we have had an excellent experience. Their customer service is very good and varied. Unlike other applications that can only be contacted via email, Edge offers a variety of contact methods.
If you find yourself having issues, you can contact them through chat on their website. There are also a variety of alternatives; these include email tickets and calling them directly by telephone. It seems they are very active in the community as they always respond to all feedback.
The customer experience seems to be exceptional, something that is rare in the crypto world. If you ever have a problem with Edge, you’ll be glad to know that you will be able to get the help that you need.
Is Edge Secure?
We consider this to be the most important aspect of this Edge Wallet review. We have told you about important aspects of this mobile wallet that make it a considerably solid app. But now we are going to explain how their privacy and security make them one of the best.
Starting with security, Edge uses a system that has become quite common but is still essential. The wallet generates a code of between 12 and 24 letters different from the password you create when you register. This will provide you with a means to recover your wallet if your device is lost or stolen… Or you just forgot the password.
Edge Wallet allows you to set up a measure called 2FA (Two-factor authentication). Let’s be clear; this will not apply to your Edge Wallet account. Instead, you can use Edge Wallet as an authenticator, allowing you to use it as a security device.
In addition, Edge will automatically log out every time you close the app. In case someone takes your phone while you have the app open. A small tweak but pretty effective.
You will also be able to set limits for transfers so that no one can steal your money with a single transaction. These limits can be temporarily disabled using your keyphrase, so it won’t be a problem if you have a long trading session planned.
The last security measure before we get into privacy is how accounts work. Edge has no way of knowing your username or password, as non-Edge-related applications encrypt this information. This means not even Edge Wallet’s employees will be able to gain access to your account. Neat, right?
Edge Wallet is an open source project, and as such, anyone can review the code. This allows users to identify bugs and vulnerabilities, reporting them to the team. The result is a more secure platform in which users and developers work together.
Now it is time to talk about privacy in this Edge Wallet review. In our experience, giving too much data to a wallet or exchange can be dangerous. That is why blockchain and crypto are all about decentralization, after all.
Some platforms do not require the same level of security for all users, and this creates a significant gap. Some people lend all their data trusting a platform, only to be scammed by someone with a completely unknown identity. In addition, if you trade with a lot of money, it can be dangerous for you if people know who you are.
That’s why we like the anonymity that Edge offers you, as the rules are the same for everyone. Edge will not ask you for any data to operate in its application. You won’t even need a personal email address or profile picture. You can feel completely at ease with Edge as you will never be scammed or have your funds stolen.
As you can see from this Edge Wallet review, this wallet is pretty comprehensive in what it offers its users. Security and privacy are some great features we always appreciate! In addition to those, the option to trade directly from the app is also great.
The only complaint we have about Edge Wallet is that the offering of coin support is limited when compared to the competition. This might not be an issue for new traders but it could be for veterans. If you choose to use this wallet, chances are that you will need to compromise at some point.
That being said, we believe that Edge Wallet is a pretty solid alternative to popular wallets. Its features, sleek design, and great security make it a tool worth considering! If you would like to give it a try, you can find the download links on their official site.
If you remain unconvinced, you can take a look at our wallet reviews to find a wallet that better suits your needs. What is important is that now you can make an informed decision about using (or not using) Edge Wallet!
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