The Edge wallet is rich with features, especially considering it’s a wallet focused on the ease of use. However, it doesn’t have as many features as some of the leading desktop and hardware wallets as the Edge wallet is strictly for mobile devices. See a list of the Edge wallet features below.
Contents
- Security
- Privacy
- Supported Coins
- Price
- Pros and Cons
- Summary
Multi-Currency Support
Edge supports more cryptos than just Bitcoin, unlike many other mobile wallets. As well, they are constantly innovating and working hard to support more coins.
Highly Secure
The Edge wallet may not be as secure as a hardware wallet, but it features innovative security features never seen before from a mobile, web-based, or desktop cryptocurrency wallet.
Intuitive User Interface
The user interface was designed with usability in mind and is therefore very easy and straightforward to use. Users can create and use multiple wallets that are accessible from the main dashboard screen. It’s easy to view your balances and manage your crypto portfolio. The advanced settings are separated from the rest of the app and accessible via a four-digit PIN.
Beautifully Designed
The color scheme is very well thought out and easy on the eyes. As well, the design is simple and clean making for a streamlined user experience.
Multi-Purpose Wallet
Users can not only store, send and receive cryptocurrencies in their wallet, but they can also exchange crypto assets with one another while on the go. This exchange feature allows users to be the first to move when the markets do. If you suspect a crypto is about to drop, simply exchange it for another crypto you think will hold its value or rise. It’s an innovative and easy way to better manage your portfolio.
Mobile
This feature is a given, as the Edge wallet is a mobile app for smart mobile devices. However, it can not be overlooked. With a mobile cryptocurrency wallet, you will have access to your coins wherever you go.
OS Compatibility
The Edge wallet is compatible with all smart mobile devices including iOS and Android. The mobile application is available for download from the Apple App Store and the Google Play Store. The wallet is the same for both operating systems and has been optimized to fit an array of mobile screen sizes. All in all, The Edge wallet is a fully compatible mobile software wallet.
Who should use it?
The Edge wallet is perfect for users who want a simple, easy to use cryptocurrency wallet they can take everywhere they go. It’s a wallet developed with the average/beginner user in mind by providing a simple user interface with minimal installation and setup procedures. The wallet was designed for the mainstream and main markets themselves towards new and beginner cryptocurrency enthusiasts. However, advanced cryptocurrency users will appreciate the platform as well, due to its innovative security features and crypto asset exchange capability. Users it might not be suitable for, are users who want to hold a large amount of cryptocurrency in their wallet. The Edge wallet may be very secure, but it’s still a mobile wallet and hardware wallets are the most secure. Therefore, the Edge wallet is most suitable for people who want a convenient and feature-rich wallet for storing a smaller amount of coins.
Security
Though the Edge wallet is not a hardware wallet, it is still very secure and might just be one of the most secure mobile wallets there is. The Edge wallet was built with security as their foundation, rather than just another feature. The code is open source and has been vetted by top security experts from the Open Bitcoin Privacy Project. See below, some of the key aspects of the Edge wallet security
Client Side Encryption
What this means is, all your data is heavily encrypted on your device before it reaches the wallet’s servers. This allows the Edge wallet to be 100% resistant to server-side and malware hacks. This also means that only you have the knowledge and control of your account information. Your private and public keys are only accessible to you, giving you full control of your crypto assets. Also, Edge doesn’t know or have access to any of your personal identification information. Users benefit from full privacy, Edge does not require your email, phone number, ID, or any other personal information to create an account.
Powerful Security Tools
Users secure their accounts with a password or PIN, just like any other wallet or account type service, but they can also further secure their accounts with two-factor authentication (2FA). The Edge wallet supports the popular Google 2FA method plus fingerprint/touch ID verification. Meaning even if someone were to get a hold of your username and password, they will not be able to access your account. Another security tool is the password recovery manager which is required to setup upon creating your password. All that’s required to set this up is an email address and two questions that only you know the answer to.
Upon reviewing all the Edge wallet security features and reviews of the open source code, we can confidently say that Edge is a very safe and secure mobile wallet. Even if Edge goes out of business and shuts down their service, your funds are still accessible because all of your data is encrypted on your device and you hold and control your private key.
Privacy
The Edge wallet employs a zero-knowledge security architecture which means they do not gather or need any of your personal information. Edge users are kept completely anonymous, not even an email is required to create an account with Edge. The Edge wallet was even ranked by the Open Bitcoin Privacy Project as one of the most private and secure mobile wallets.
Backup Features
As the Edge wallet is one of the safest and most secure mobile wallets, it, of course, has a sophisticated backup feature. Edge features automated backups of the users’ encrypted data to their redundant peer to peer cloud servers. The automated backup service only backs up your data once it has been fully encrypted to protect the user’s information from server attacks. Edge cannot access your assets nor your personal information if something were to happen to your mobile device. Therefore, only you can restore your Edge wallet by downloading the Edge app on a new device and entering in your username and password. The user will then find their coins exactly as they left them.
Supported Coins
The Edge wallet has a rather limited selection of cryptocurrencies supported on their wallet, with only a total of 7 coins supported. This is perhaps the biggest drawback to the Edge wallet as most other mobile wallets support at least 10 cryptos. The number of cryptocurrencies available today is well over a thousand, and this number is constantly growing. While most of the cryptocurrencies aren’t even worth holding, there are certainly over 7 coins people are interested in. Therefore, if the Edge wallet wants to stay relevant and stay ahead of the competition, they will need to add support for more coins. Thankfully for them, they have plans to support a much wider selection of coins soon. Edge has partnered with some of the best blockchain services from around the world, including Kraken, Bity, WageCan, and Bitrefill. With these partnerships, Edge will certainly increase the number of coins they support by a long shot. As for now, see the list of currently supported coins below.
- Bitcoin (BTC)
- Ethereum(ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Dash (DASH)
- Augur (REP)
- Wings (WINGS)
Can you trade cryptocurrencies from inside the wallet?
One of the most innovative and unique features of the Edge wallet is the ability to exchange your cryptocurrencies for one another within the Edge wallet application. This is made possible with their integration with Shapeshift. Users can be the first to move when the markets do, without sending their cryptocurrencies to an exchange. It’s the safest way to exchange crypto assets as they never leave your wallet. Your cryptos are kept secure with a seamless exchange within the wallet. Say the price of Bitcoin Cash was falling and about to plummet, even more, an Edge user could exchange their Bitcoin Cash for more Bitcoin without sending their crypto to a third party cryptocurrency exchange. Hence saving them from a huge loss and doing so in a fast, secure, and seamless manner.
While this exchange feature is very innovative and cool, users are still not able to buy or sell cryptocurrencies for fiat currency or acquire new cryptocurrencies. However, this is supposed to change soon. As mentioned earlier, Edge wallet has partnered with 4 blockchain services; Kraken, Bity, WageCan, and Bitrefill. These new partnerships are going to allow Edge users to maximize their crypto assets by facilitating in-app buying, selling, crypto top-ups, crypto gift cards, and Bitcoin debit card integration. If the Edge wallet capitalizes on these promises and delivers what they say they will, the Edge wallet will quickly climb the ranks as one of the best and most versatile cryptocurrency wallets.
Price
Unlike hardware wallets, the Edge wallet is absolutely free to use and download from the Apple App Store and the Google Play Store. Edge does not charge their users any additional fees on top of the mining fees for sending cryptocurrency out of the wallet, and users do not get charged any fees for receiving crypto into their wallet. Edge does, however, collect a small fee on all exchange transactions, using the in-app exchange service. The fee will be stated upon each transaction and is included with the mining fee. Overall, the Edge wallet is free to use and very transparent with mining fees and their exchange fees.
Setup Guide & How to Use it
Getting started with the Edge wallet is simple and easy. The whole installation and setup process can be done in a matter of minutes with a few simple steps. See the steps below.
Step1: Install the App
Using your iOS or Android mobile device, navigate to the App Store or the Edge website and download and install the Edge wallet.
Step 2: Create an Account
Before using the Edge wallet services, you must create an account by setting a username, password, and 4 digit PIN. This information will give you access to your account and allow for the encryption of your data before being uploaded to Edge servers. Once you’ve written down your account details and stored them in a safe and secure place, you can confirm their terms of use and begin using their services.
Step 3: Set up Account
Now that your account is created, you can navigate to the wallets page and add the supported cryptocurrencies you want to store in the wallet. After that, you will see all the crypto wallets you added on the main wallet page.
Step 4: Receive Coins
To receive coins, click on the cryptocurrency wallet you want coins to be added to. Then at the bottom of the screen click “Request”. A QR code and your receiving wallet address will be shown. Provide this information to the sender and they can send you coins.
Step 5: Send Coins
Next to the “Request” button in the previous step, there is a “Send” button. Click on it and you will be brought the sending screen where you either scan a QR code or paste in an address to send the coins to.
Step 6: Exchange Coins
Simply click on the “Exchange” button located where the other wallet function buttons are and select the source wallet and receive wallet for the cryptos you would like to exchange. Enter the amount you would like exchanged and confirm the transaction.
Pros and Cons
Pros
- Feature-rich wallet
- User-friendly interface
- Very safe and secure
- Bright future with lots of innovation
Cons
- A limited number of cryptocurrencies supported
- No fiat currency supported
- Not as secure as a hardware wallet
Support
Edge wallet users benefit from phenomenal customer support. They can contact support representatives via email, or simply browse the extensive support library for helpful information. The Edge website features a very comprehensive FAQ page where users will find loads of helpful information. Also, users can communicate with support via various social media networks.
Summary
Overall, the Edge wallet is a highly competent mobile crypto wallet. It is very safe, secure, and user-friendly, making for an excellent user experience. The wallet does not support an extensive list of cryptos, but they have plans for supporting more soon. The Edge wallet has numerous innovative features such as the exchange feature and plans to integrate many more in the near future. All in all, we would highly recommend the Edge wallet as a viable mobile crypto wallet solution.
