Bitcoins can be bought using Breadwallet

[ekoice]

Now people can buy bitcoins using bitcoin wallet Breadwallet which is in their IOS.Initially,it is available to 10% of users.Then it will be extended to all.Android version is not ready now.

[springgers]

Using which service to do the purchasing of bitcoins?
10% is better than most exchangers out there including virwox and most on localbitcoins.
Even Wesellcrypto charges 15%.

[Bellator]

Now people can buy bitcoins using bitcoin wallet Breadwallet which is in their IOS.Initially,it is available to 10% of users.Then it will be extended to all.Android version is not ready now.

I can't understand it, People can buy bitcoins using bitcoin wallet Breadwallet?
What is Bread wallet? I want to know more about it. What is the advantages of this wallet in other wallet like xapo, coinbase, blockchain, electrum, mycelium and other wallet?

[ekoice]

You have misunderstood.Its available now for only 10% of users and later this facility will be available for all the users using iphone.Its now available in US only.

[squatz1]

You have misunderstood.Its available now for only 10% of users and later this facility will be available for all the users using iphone.Its now available in US only.

Even he misunderstood that part, others here would really like to know where they're allowing to trade to occur from. As I highly doubt Breadwallet is going to be matching buyers and sellers together with the small amount of userbase they're going to be having buying and selling.

But I did look it up and it's really rather simple what they're going to be doing. For Bank Transfers and everything relating to that - Kraken is going to be used as the person facilitating the trades.


Here's the rest of the article - https://news.bitcoin.com/iphone-users-buy-bitcoins-breadwallet/

[unamis76]

These guys are going above and beyond with their client This is my go-to Bitcoin wallet on iOS and it's simply amazing. It follows the "it just works" philosophy of the whole OS... One of those apps that fit greatly on iOS.

I'll most likely use this feature when it rolls out beyond the US... I hope that someone shows some screenshots or reviews the feature meanwhile.

[mindrust]

If they make it real for everyone, many exchanges will be driven out of business. %10 is very reasonable cut for a service like this.

Not to mention it will make a huge positive impact on bitcoin's price. It is too much trouble to register in an exchange, give your credit card numbers etc... Now, people will be buying bitcoins like they buy an app from appstore while they are fiddling wtih their phones.

I am a breadwallet user myself but i rarely keep any bitcoins there because i am afraid of getting my phone stolen. (i know it asks your passcode everyonce in a while but i can't help it)

[carl9197]

The fee is 1% using a bank account.  I just set up an account with Breadwallet and bought $20 of bitcoin as a test.  Funded from my savings account so it will take about a week to go through.  Charged me $20.21.  I could have used a credit card but didn't want to, not sure what the fee would have been doing that.

It is definitely not anonymous.  They ask for a photo of your drivers license or passport, plus address, and phone number.

I also registered with Coinbase today and bought a little bitcoin and etherium.  Just testing these two platforms out,  learning how to buy it and move it around. 

[Iranus]

The fee is 1% using a bank account.  I just set up an account with Breadwallet and bought $20 of bitcoin as a test.  Funded from my savings account so it will take about a week to go through.  Charged me $20.21.  I could have used a credit card but didn't want to, not sure what the fee would have been doing that.

Fees with a credit or debit card tend to be super high, even if you verify your identity.  Coinbase's fees are around 4%.

These embedded services are always going to be more expensive than normal exchanges just for the convenience - companies feel that they can get away with it because people can't be bothered going to a real exchange.

Just like with the Blockchain.info buying feature, people shouldn't be using it for anything more than a test.

[carl9197]

Iranus,
Maybe i didn't word that correctly.  Breadwallet charged me 21 cents to buy $20 worth of bitcoin.  That seems to be the cheapest I have seen.  Coinbase is 1.49% through bank account and 4% with credit or debit. 

To cash out bitcoin and transfer money to a bank account, Coinbase seems to charge you again for that (1.49%?). 

It seems there is no way to sell bitcoin or transfer to a bank account through Breadwallet- I would have to transfer to Coinbase for that.  I guess that no wallet will let you do that?

[Iranus]

Iranus,
Maybe i didn't word that correctly.  Breadwallet charged me 21 cents to buy $20 worth of bitcoin.  That seems to be the cheapest I have seen.  Coinbase is 1.49% through bank account and 4% with credit or debit. 

To cash out bitcoin and transfer money to a bank account, Coinbase seems to charge you again for that (1.49%?). 

It seems there is no way to sell bitcoin or transfer to a bank account through Breadwallet- I would have to transfer to Coinbase for that.  I guess that no wallet will let you do that?

Coinbase is a wallet by name only.  By using them you're giving them your funds based on their promise that they will spend them for you or give you them back - so they're basically an exchange which allows you to store Bitcoin in them, while Breadwallet is a wallet.  That's the difference.

You could equally trade on Bitstamp and then withdraw to a wallet you control.  Their fees are 0.25% and lower if you charge more.  The fees would be several times cheaper than Coinbase.