Whether you are an experienced crypto pro or a newbie, you’ll need a crypto wallet to secure your digital assets. In today’s guide, we’ll make a comprehensive Edge Wallet review, discussing the most critical aspects, such as security, ease of use, supported cryptocurrencies, and overall mobile app feel and touch.
Also, within the Edge Crypto Wallet review, we’ll create a step-by-step guide to help you get started. So, read further and discover all the details to set your crypto journey on the right track.
What Is Edge Wallet?
Edge Wallet is a software cryptocurrency wallet developed to facilitate hodling and trading different cryptocurrencies. Available only as a mobile app, the Edge Wallet brings a friendly interface, an easy setup process, and, most importantly, integrates multiple features to ease your trading process.
The Edge Wallet is a non-custodial crypto wallet that uses client-side encryption to encrypt the user’s confidential data on their device, meaning that only the user controls its digital assets. Also, it operates within a decentralized architecture that emphasizes security by using zero-knowledge proofs.
About Edge Wallet
Edge Wallet first started as a Bitcoin wallet, named Airbitz, and was launched in the winter of 2014 by the current Edge development team. This was the team’s first implementation of the Edge Security model.
By 2017, the Airbitz Wallet outgrew its use of being just a Bitcoin wallet and became a multi-currency wallet and data security solution. Since the company invented the “Edge Security” model, it outgrew, transforming it into the mobile app we all know today. This is how the Edge Wallet was born, highlighting the most substantial aspect of its product.
Edge Wallet Review | App at First Glance
Product type: Mobile Crypto Wallet;
Seller: Airbitz Inc;
Price: Free;
Size: 68.3 MB,
Category: Finance;
Release date: 2014;
Supported Platforms: iOS & Android;
Security: Pin protected;
Supported cryptocurrencies:
- 30+ coins,
- ERC tokens,
- Stablecoins on the XRPL ledger.
Edge Wallet Review | App Features
Step 1: Download the Edge Wallet
The Edge Wallet impresses you with some features that set it apart from most crypto wallets. Read further, download the app, and discover it for yourself.
Edge Wallet: Ease of Use
Step 2: Create your Edge Wallet Account
Creating a new account and using the wallet requires only five minutes. You just need to provide a username, password, and PIN. When you log in for the first time, you are ready to start receiving, sending, or exchanging any of the supported tokens and coins.
Step 3: Edge Wallet Account Confirmations
Step 4: Add your wallets to Edge
Edge Crypto Wallet: User Interface
Edge Wallet impresses with a clean and modern design, which makes the user-flow straightforward and intuitive. The Edges Wallet dashboard shows four other tabs besides Wallets: Buy, Sell, Exchange, and Markets.
Edge Crypto Wallet: Exchange coins
By integrating Edge with multiple partners, Edge Wallet seeks the best exchange rate. Most of their partners can process and exchange up to $5000, but a minimum amount can be exchanged, varying between $0.7 and $200, depending on the coin.
Users can quickly convert coins and tokens by integrating ShapeShift, Changelly, Stellar, and XRP with Edge Wallet. However, some partners may restrict access to their service based on your location or where they believe you are. For example, Shapeshift doesn’t serve the states of Washington or New York or a handful of OFAC-embargoed countries.
To exchange one cryptocurrency for another, you must first set up a wallet for each asset.
Edge Wallet: Buy with Fiat Money
You can also buy Bitcoin, Bitcoin Cash, Litecoin, and XRP with a credit card using different partners, such as Simplex, a partner of Edge Wallet.
This process takes up to 30 minutes, and some transaction fees will be applied based on the exact location, usually between 5 – 7%.
Edge Wallet: Safety and Data Privacy
We’ll start by saying that one of the most secure is the hardware wallet, as it doesn’t imply network connectivity, thus making it harder to be susceptible to theft and fraud.
Upon discussing the safety and data privacy of the Edge Wallet, we cannot skip the minor incident in February, where a user met an unauthorized transaction that swept the total amount of their Bitcoin wallet; however, all other funds on their Edge account were intact.
Since Edge uses individual master private keys for each wallet, they determined that an attacker did not log into the user’s account but that only the private key of their Bitcoin wallet was compromised. Upon further investigations, Edge resolved the incident quickly, recommending that users update to the latest version of Edge Wallet (v3.3.1).
Overall, Edge Wallet offers top-tier security levels, including:
- 2 Factor Authentication (2FA): Only your device can access the account; even another device tries to access it with the known password.
- Spending Limits: Requires a PIN/Password to make transactions.
- Auto Logout: Automatically logs the account out after a set time.
- Fingerprint/Touch ID: Quick logins via fingerprint.
- PIN Login: Quick logins via a four-digit PIN.
- Password Recovery: Set up recovery questions to recover your account and reset the password if you forget it.
Edge Crypto Wallet Review | Fees & Costs
Edge Wallet can be downloaded for free on iOS and Android mobile devices. Also, there aren’t fees for receiving digital assets into your wallet, and no limit considering how much can be transferred from a single transaction.
Although, upon sending Bitcoin, Ethereum, and other tokens, there will be perceived as a fee, usually known as the mining fee or network fee, which goes to the miners for securing and processing the transaction. It is essential to mention that the Edge keeps nothing from this fee, thus not making any profit, as some might speculate.
Edge Wallet Review | Supported Currencies
Edge wallet currently has support for the following cryptocurrencies:
- Bitcoin (BTC);
- Bitcoin Cash (BCH);
- Ethereum (ETH);
- Ethereum (ETC);
- Monero (XMR);
- Zcash (ZEC);
- Tron (TRX);
- Polkadot (DOT);
- BNB Beacon Chain (BNB);
- BNB Smart Chain;
- Solana (SOL);
- Bitcoin SV (BSV);
- Litecoin (LTC);
- EOS;
- XRP;
- RSK (RBTC);
- Stellar (XLM);
- Dash (DASH);
- Tezos (XTZ);
- DigiByte (DGB);
- Vertcoin (VTC);
- Ravencoin (RVN);
- Pirate Chain (ARRR);
- Qtum (QTUM);
- Feathercoin (FTC);
- Bitcoin Gold (BTG);
- Groestlcoin (GRS);
- Firo (FIRO);
- UFO;
- Telos (TLOS);
- Fantom (FTM);
- Hedera (HBAR);
- Polygon (MATIC);
- Avalanche (AVAX);
- Celo (CELO);
- Dogecoin (DOGE);
- EthereumPoW (ETHW);
- FIO;
- All ERC-20 tokens.
Please note that as of May 2023, Edge Wallet users can now receive, store, and send stablecoins on the XRPL ledger, such as Stably USD.
Edge Wallet Review | Customer Support
It often happens for a crypto platform or any other wallet not to have responsive support or guides to ease user processes. Yet, Edge Wallet is not the case, as they offer multiple support points, such as email and phone, detailed FAQs, and live chat support.
Edge Wallet Review | Final Thoughts
Even though the wallet is only mobile-based, Edge invests in support articles, guides, and multiple customer contact points.
The ease of use makes Edge Wallet right for beginners and experienced trades. The simple and clean interface is helpful for this, making the entire process intuitive and offering a sense of security.
Plus, Edge Wallet is completely Zero-Knowledge and private, thus Edge cannot see into or access user accounts. The accounts are not linked to any identity for increased privacy, and users can access their funds 24/7; it is decentralized and can be used anywhere in the world.
Edge Wallet Review | FAQ
Is Edge a good crypto app?
The Edge Wallet is a non-custodial crypto wallet that uses client-side encryption to encrypt the user’s confidential data on their device, meaning that only the user controls its digital assets. Also, it runs within a decentralized architecture that emphasizes security by using zero-knowledge proofs.
How much does Edge Wallet cost?
Edge Wallet is a free mobile app, but upon sending tokens, there will be perceived as a fee, usually known as the mining fee or network fee, which goes to the miners for securing and processing the transaction. It is essential to mention that the Edge keeps nothing from this fee, thus not making any profit, as some might speculate.
What is the limit on Edge Wallet?
Most of Edges’ partners can process and exchange up to $5000, but a minimum amount can be exchanged, varying between $0.7 and $200, depending on the coin.
Is Edge a Safe Crypto Wallet?
While it is considered one of the most reliable software crypto wallets available, the Edge wallet needs to meet the level of security provided by a hardware wallet.
