Edge Wallet Review and In-Depth User Guide
Edge is a mobile wallet for Android and IOS devices created by the former Airbitz team, that was released in February, 2018. The wallet supports receiving, sending, storing, and exchanging between several different cryptocurrencies, as well as ERC20 tokens.
Since 2014, the Airbitz development team has been working on user friendly security solutions. Beginning with a Bitcoin wallet and merchant database, they have since grown to creating a wallet that supports multiple currencies including Bitcoin (BTC), Ether (ETH), Dash (Dash) and Litecoin (LTC). In October 2017 Airbitz re-branded to Edge.
This Edge wallet review will cover:
Edge Wallet Review
The Edge team has given strong attention to the user experience in their wallet. The process of creating a new account and beginning to use the wallet takes only a minute — requiring just a username, password, and pin. Restoring from a lost device is just as easy. Simply install Edge wallet on your new device and enter your username and password. You’ll restore your wallet exactly as it was on the old device.
As soon as you log in for the first time you are ready to begin receiving Bitcoin and Ether. Once you have some cryptocurrency in the wallet, you can easily send or swap it for any other supported coin or token using their built-in exchange feature.
The presentation of the wallet is sleek, simple, and easily navigated. There are just four main screens: “Wallets”, “Request”, “Send”, and “Exchange”. This keeps the wallet’s flow intuitive so that you don’t have to tap through endless pages trying to find where you want to be.
From the main wallet page you can backup your seeds, add new cryptocurrency wallets, or manage your Ethereum tokens. Another useful feature, the “Send” page gives you an option to adjust the miners fee. The most interesting part of the app is it’s direct integration with Shapeshift. This allows Edge wallet users to swap between different currencies in just a few steps.
Edge was just released on February 15th of this year, so the wallet only has native support for five cryptocurrencies and two tokens at this time.
There are plans to integrate support for additional coins in the future; however, it remains to be seen what coins will be supported and when. Given this uncertainty, users storing a large portfolio of different altcoins might want to hold off on Edge until it matures a bit. Jaxx wallet for mobile devices and desktops or the Ledger Nano S hardware wallet are good alternatives with support for additional coins.
Mobile devices are generally known for being the least secure way to store cryptocurrencies. There is not a single mobile wallet that should be trusted for large investments or long term storage. Edge themselves suggest to only use the wallet for small amounts.
The ability to restore your wallet on a new device with only a username and password might be convenient, but it also presents a potential security issue. End users are notorious for creating easily guessed credentials that are then used on multiple accounts across the internet. This makes data breaches at other sites a possible security threat for Edge wallet users.
If you need a strong security option, the safest choice is always a hardware wallet.
1. Install the app.
2. Create an account.
The first time you run the app you will need to create an account with Edge. You must set a username, password, and 4 digit pin. These account details are used to encrypt your wallet info on Edge servers in case you lose or break your device. So be sure to use a username and password that have never been used for any other account.
3. Add more cryptocurrencies.
To begin adding cryptocurrency wallets, navigate to the main “Wallets” page. Tap the “+” next to “My Wallets” and a menu of supported currencies will appear. Simply tap whichever asset you would like to add. You’ll then be brought back to the “Wallets” page where your new currency’s wallet will now be listed.
If you would like to add ERC20 tokens, please refer to Edge’s guide.
4. Receive coins.
To receive coins, begin by tapping “Request” on the navigation bar. At the top of the page you will see the wallet that is set to receive. If you want to receive in another currency, simply tap the wallet name to choose another cryptocurrency.
From here you can either have the sender scan the displayed QR code with their device, use “Copy” to copy the address to your clipboard or use “Share” to share the address with another app (including sms to one of your contacts).
5. Send coins.
To send coins, begin by tapping “Send” on the navigation bar. You will immediately be brought to a QR code scanner using the camera of your device.
If you instead wish to paste an address from your clipboard, tap “Address”. A pop-up will appear allowing you to enter the address.
Next you will have to verify your send amount. This is also where you may adjust your mining fee by tapping the three dots at the top right and selecting “Change Mining Fee” from the drop down menu. When you’ve made your desired selections you can slide the icon to the left to confirm sending.
6. Exchange coins.
To exchange one cryptocurrency for another you must first have a wallet set up for each of asset (refer to step 3 of this guide to add more wallets). Once you have your wallets set up and you have received some of one cryptocurrency to your Edge wallet, you are ready to exchange.
Start by tapping “Exchange” on the navigation bar. On the next page tap “Select Source Wallet” and choose the crypto you wish to switch from.
Repeat the same steps for the receiving wallet. Start by tapping “Select Receiving Wallet”.
Now you can enter how much you would like to exchange using either a value in cryptocurrency or fiat. The app will fill in the rest, including the amount of alternative asset you will be receiving.
When you are done with your selections tap “Next”. You’ll have one last chance to confirm. Slide left to initiate the exchange.
If you’re looking for an easy to use, quick to set up, mobile wallet that supports multiple cryptocurrencies and tokens, then Edge could be a good choice for you. Though the wallet has only been released for a month, there are already some interesting features. Integration with Shapeshift to provide an in-wallet asset exchange is the most useful so far.
Current support for coins other than Bitcoin is a little scarce, but hopefully that will change in the future. The ease of use and professional style has already been achieved, so if the Edge team keeps up with code development they could build a popular wallet.
As with any mobile wallet, you only want to store what you consider to be small amounts. If you follow that rule and use unique credentials for your account, you should have nice experience with Edge wallet.