BRD is the ticker for the Bread Token (previously known as breadwallet). Bread started out as a decentralised iOS wallet app which is one of the biggest mobile wallets out there, as that it is synchronises to the Bitcoin blockchain instead of actually holding your assets. The benefits? You hold access to your money (by writing down the seed key), instead of it being prone to attack on a centralised website/bank/exchange.
In this post I want to explain to the average investor what is so special about Bread the company, the Breadwallet app, and most importantly the investable BRD token.
About Bread, the company
Adam Traidman, CEO of Bread, explains that his company is building a decentralised bank to become the biggest bank in the world. In a similar fashion to Uber having no taxis, and AirBnB owning no real estate, the Breadwallet app does not hold any money (source here). Because of this simple fact, the Breadwallet can grow at an alarming rate without being bogged down by cross-country financial/security regulation laws.
What is the Breadwallet?
The breadwallet is the app. It is a simple, clever, intuitive wallet app that guides you through owning and transacting with Bitcoin (more blockchains are being added). You create a 'seed key' when you sign up, which is a list of words used to generate your hidden private keys.
The app already has over 1million users, which immediately makes an investment into BRD much safer than regular ICOs, which usually don't have a product at all never mind over 1million users. With a fully functional product protecting billions of dollars of BTC, and a user base growing at a ridiculously fast rate, you are investing in a company that is already successful. So what are you investing in??
What is the BRD token?
The BRD token is an Ethereum based ERC20 token, which simply means that it uses the Ethereum blockchain to transact from peer to peer. By using the Ethereum network, Bread can continue expanding their secure decentralised bank, rather than running their own blockchain; a wise choice in my opinion.
-> What is the BRD token used for?
Similarly to Binancecoin (BNB), demand for the BRD coin will be underpinned by discounting breadwallet users on transaction fees, namely 30% off per transaction when paying in BRD. With over 1million users already transacting, as soon as the integration is added to breadwallet there will be a huge influx of demand for the token, rocketing the price from $2.56 per token at the time of writing, to a forecasted $8+.
However the token's use doesn't stop there, token holders will also have access to premium features within the app, and further discounts on a huge range of financial services, including access to a decentralised exchange coming in Q3 of 2018 (source here) on their roadmap.
"Bread tokens will unlock a long list of perks for users of the Bread platform" with Bread Rewards. Notably with the Bread company holding on to 33% of the tokens, it is hugely in the company's interest to improve the use and thus value of their coin.
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Why you should invest in the Bread Token
- Bread are focused on simplicity, easy of use, and security, which in such technological sector, ease of access is the golden ticket to mainstream adoption!
- Bread is non-custodian, so they are not subject to the slow regulatory approval of bigger custodian exchanges, which means faster global growth
- Over 1million users already
- Already raised $32million of investment to develop their existing working product (mitigates investment risk significantly!)
- Heavily Undervalued at the current price of $2.56 - Bread have a proven working product, which means they already have the technical expertise and knowhow to expand their app and integrate Ethereum and a huge range of tokens
- Fastest Growing Wallet, #2 App globally on the App Store.
- BRD is only listed on ONE exchange (Binance, signup to Binance here). When it lists to Bittrex this year, demand will rise significantly.
- A technical team that includes ex-Coinbase and ex-Kraken employee James MacWhyte (source here)
- Charlie Lee, Litecoin Founder and ex-Coinbase developer has confirmed publicly that he is an advisor to breadapp - source https://twitter.com/satoshilite/status/947278770553085952?lang=en
Potential Weaknesses and Mitigated Risks
- Only 14 Members in their Core Team
With $32million in the bank, this is expected to increase dramatically as Bread look to expand their app's functionality. - Currently low on hype
I see this as a huge plus. The strengths above mean that as soon as this is coin is noticed, the masses will flood in. - Not much Detail in the White-paper's Roadmap
Although they are currently on track, their roadmap is rather vague. A more detailed roadmap would be beneficial.
Conclusion
I personally think that their marketing team are holding back at the moment. This coin has huge potential and is one of the safest investments I have made personally. With a viable working product protecting billions in assets already, a coin that is sure to have significant demand from a variety of different promising angles, which is also built in a decentralised fashion by ex Coinbase developers, and has strong links to blockchain gurus such as Charlie Lee, I don't see how this coin can fail.
Further Reading/Videos:
A Video Review of BRD by "Young and Investing" -> https://www.youtube.com/watch?v=ckhAVaN6qYY
Bread Coin is my #1 pick for January 2018 -> https://www.youtube.com/watch?v=taXtVAuSvT0
Bread Token Explained (Official Team Video) -> https://www.youtube.com/watch?v=Prs_1j-SoHc&t
(Disclaimer: Remember that this is not financial advice and that you should always conduct your own thorough research!) I have spent hours researching the company, token, app and their white paper and roadmap to bring you this information.
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