The Edge Wallet is an intriguing cryptocurrency software wallet. Available only for mobile devices, the Edge Wallet offers easy set-up, a simple to use interface, and a host of extra features which we will delve into momentarily.
Edge, initially called Airbitz, got its start as a Bitcoin-only wallet in 2014. The security model used by Airbitz Bitcoin Wallet was called “Edge Security”, which the company later integrated into blockchain projects such as Augur, and Wings. By late 2017 Airbitz had advanced into a data security solution and multi-currency wallet, and so the company decided to highlight the strongest aspect of their product which was their Edge Security software feature. This is when Edge Wallet was born.
By: Evan Jones | May 29, 2020 | Modified Jul 9, 2020
|Platforms supported:||Android, iOS|
|Size of app:||68 mb|
|Pin code protected:||Yes|
|Frequency of updates:||High|
The best features of the Edge Wallet are its ease of set-up and use, its security, and its plethora of in-app features.
Setting up the Edge Wallet only takes a minute once you have installed the app, you simply choose a username, a password, and a PIN. That is it.
All your data is encrypted client-side meaning it is encrypted on your phone before being sent to the servers. This ensures that the company cannot access you account information, and that even if the servers are hacked the risk of your information being compromised is mitigated. In addition, the app offers 2-factor authentication (2FA), an auto logout, and password recovery. Edge also backs up all the information using peer-to-peer cloud servers, and the encrypted data can only be decrypted by the individual users’ password and username.
By offering users the ability to buy crypto with their credit card or a wire transfer, do crypto to crypto exchanges, earn interest on their assets, and buy gift cards with their assets, all within the app, the Edge Wallet offers features that appeal to almost anyone.
The Edge Wallet currently supports 31 crypto assets. Users also have the ability to request their favourite coin be added to the list. Some of the assets already supported by Edge Wallet are:
Yes, Edge Wallet is safe. While a hardware wallet such as the Ledger Nano X, Nano S, or a Trezor Model T or Trezor One is safer than the Edge Wallet, the Edge Wallet offers top tier security for a software wallet and is free. With automatic backups, client-side encryption, 2FA, and password recovery, the Edge Wallet should have users feeling confident their private keys are safe.
The Edge Wallet is currently only available for Android and iOS mobile devices, it is not supported as a desktop application and there is no desktop application in the works.
There are few, if any, downsides to the Edge Wallet. While not as secure as a hardware wallet, the Edge Wallet offers very strong security features compared to many other software wallets. Being available only for mobile can be a disadvantages for some users.
Another disadvantage with the Edge Wallet is that you cannot store fiat in the wallet, meaning you cannot hold USD, GBP, EUR, or any other fiat currency in the wallet. In addition the Edge Wallet has a somewhat limited number of crypto assets supported, especially when considering the top 25 coins by market capitalization. One such cryptocurrency is the number three coin by market cap, Tether (USDT). It’s a glaring hole considering the popularity of stablecoins right now.
It is definitely one of the most secure and safe software crypto wallets you can get, but it is not as secure as a hardware wallet. For a list of recommended hardware wallets click here.
The Edge Wallet application only takes up a modest 68MB of storage space.
Edge is a very safe software wallet due to their Edge Security platform. However, the safest way to store your crypto assets is offline or in a hardware wallet, especially if you are not planning to spend them on a regular basis.
Yes! Edge Wallet supports Shapeshift.
No, you cannot store US Dollars or any other fiat currency on the Edge Wallet.
To buy Bitcoin with the Edge Wallet, simply click “Buy Cryptocurrency”, select BTC, choose your payment method and seller, then follow the on-screen instructions.
It depends on the features you are looking for in a wallet. The Edge Wallet may be slightly safer due to their proprietary Edge Security software feature, but the Exodus Wallet supports more assets, offers almost all the same features, has a desktop application, and also supports hardware wallets.
Yes, the Edge Wallet is solely available for mobile.
No, the Edge Waller does not support Ledger, Trezor or any other hardware wallets.