Edge Wallet Review
Edge, recently rebranded from Airbitz, is a software wallet provider headquartered out of San Diego, CA. The company was founded in 2013 and has taken a unique approach to the security of your funds and private information. Instead of focusing on third-parties for server-side security, Edge puts you in control by providing an easy-to-use security layer on top of the client-side (user-facing) parts of their product.
The Edge wallet is still in beta but will launch with support for:
Beyond this, Edge has built out a modular architecture that allows them to work with any blockchain or token. For a new coin to be available in the wallet, a developer from the coin’s team just needs to contribute support through a simple plug-in that Edge provides.
The Edge wallet also integrates with Shapeshift allowing you to easily swap between supported coins without having to send your funds to an exchange.
This Edge wallet review is made to help you understand what offerings the Edge wallet as, some companyh history, and whether or not it’s a good fit for your needs.
What are people saying?
Because the new Edge wallet is still in beta, the jury is out on whether or not it’ll be a community favorite. However, the Airbitz wallet has been in the market for a few years, now, receiving hundreds of reviews. It’s safe to assume these reviews will be applicable to the wallet v2.0 (Edge) once it hits the market.
The Good: Airbitz averages a 4-star (out of 5) rating across several review platforms like CryptoCompare and the Google Play store. Many customers compliment the wallet on its straightforward interface and recommend it to anyone new to Bitcoin. Experienced users like the wallet’s focus on security, privacy, and decentralization – core principles of the cryptocurrency movement.
The Bad: Ironically, the majority of complaints about Airbitz are around the security and identification process. Some users feel uncomfortable with the amount of information they need to provide to purchase Bitcoin through the app, while others voiced disappointment that they weren’t allowed to purchase because of their geographical location. As a U.S. based company, I can only assume that these precautions are in place to comply with Anti-money Laundering (AML) and Money Transmitter policies.
Airbitz is free to download and use. The only fees that you pay are the mining fees to send funds from the wallet.
How’s it work?
Airbitz is more than just a wallet, and we can expect the same thing out of Edge. Besides sending and receiving funds, you can also use your wallet to:
- Log into decentralized applications (dapps)
- Purchase Bitcoin
- Spend Bitcoin
With Edge, you can use your wallet to authenticate in dapps like Wings and Augur that use the Edge Security SDK. To authenticate, all you need to do is scan a barcode provided to you by the application. From there, you can access and transfer the same funds that you would normally hold in your Edge wallet.
You have 3 options to purchase Bitcoin in the Airbitz wallet:
- Glidera for USA bank accounts
- Bity for European bank accounts
- LibertyX for USA cash purchases
Airbitz has partnered with these companies and navigates you to their interface to make purchases. If you experience issues purchasing Bitcoin, you should contact the appropriate company rather than Airbitz/Edge support.
Airbitz has also partnered with Card For Coin Inc. and Bitrefill to provide ways to spend Bitcoin on the wallet app. You can spend your Bitcoin at Target and Starbucks and receive discounts up to 20% each time you shop. This is a nice perk that brings additional value to holding cryptocurrency by easily allowing you to spend it at popular locations.
Airbitz/Edge is only available on iOS and Android devices, and the company has stated that they have no plans to implement a web interface. This is to further protect you from the account attacks that are prevalent on website infrastructures. Some people may see this as a negative, but I think the company’s dedication to the security of your account, even at the expense of some functionality, is respectable.
Can I trust these guys?
The Edge Wallet is built in a decentralized manner that ensures that no third party company has access to your funds or account information. Not even Edge themselves has access to this information.
Instead, your private keys, public addresses, and transactional history are created locally on your device. This data is then encrypted and stored on peer-to-peer cloud servers.
Even if the company ceases to exist or their servers are down, you’ll be able to access your funds. This adds an important layer of trust in an industry where companies and exchanges can sometimes disappear into thin air taking your funds with them.
The customer support for this wallet is outstanding. As I was reading through the reviews in the Google Play store, I noticed that there was a response from someone at the company for each user asking for help. The response not only included pertinent information but also an email to contact if the customer still had issues.
The Airbitz website also has a list of FAQs that cover common issues like account recovery and wallet troubleshooting. Many reviewers have reported that the customer support team is consistently helpful and responsive to the email support tickets that they’ve sent.
What do I think?
If you’ve read my previous wallet reviews, you know I’m a sucker for a simple design and straightforward user experience. Airbitz/Edge has an intuitive interface that isn’t intimidating to the crypto novice while still providing top-of-the-line security and functionality. That’s a deadly combination.
From what I’ve seen, it looks as if the Edge Wallet is going to provide an even better experience than the current Airbitz counterpart. My contact information is already on the beta sign-up list, and I look forward to seeing everything the new Edge wallet has to offer.