Bread token is a small market cap coin which has gained investors’ attention over the last few months as it appreciated over 750% since the beginning of the year. You will find an overview of which exchange to use, and how to buy the token, as well as a brief history of BRD coin.
Small market capitalization coins are considered high risk investments, as they’re much more volatile than large cryptocurrencies like Bitcoin. With this volatility comes potential rewards, and some cryptocurrency investors like to diversify a small portion of their portfolio into these lesser known cryptocurrencies in hopes of a huge return on investment.
Bread token is a small market cap coin that has yet to reach its previous all-time high prices from 2018. The coin reached a price of close to $3 before plummeting with the rest of the crypto markets throughout 2018 and 2019.
In the past few months, BRD token has gained investors’ attention, appreciating over 750% since January 2021. Learn more about BRD token and how you can buy the cryptocurrency in 3 easy steps.GET STARTEDBest Free Crypto Trading BotsEarn up to 270% APY by using the 16 free Pionex Crypto Trading Bots.
- What is BRD Token?
- Brief History of BRD
- How to Buy Bread Token
- Best Crypto Exchange for Bread Token
- Best Crypto Wallets
- Trade, Sell or Convert your BRD Tokens
- Current Crypto Prices
- Is Bread Token a Good Investment?
What is BRD Token?
Bread (BRD) token is a cryptocurrency that’s built on Ethereum’s blockchain network. The key difference between Bitcoin and Ethereum is that Ethereum supports smart contracts, enabling other cryptocurrency tokens to be minted on Ethereum’s network. This way tokens can benefit from Ethereum’s robust network while creating their own parameters for their cryptocurrency token.
The token is used on BRD Wallet, which is a mobile wallet and exchange available on iOS and Android. Investors can hold BRD tokens to receive incentives on the platform, such as reduced trading fees. These incentives are tiered, so the more BRD tokens an investor holds, the better their incentives on BRD Wallet become.
Brief History of BRD
Aaron Voisine and Adam Traidman founded BRD Wallet in 2015. The company launched its Initial Coin Offering (ICO) in December 2017, raising over $20 million in less than a day.
BRD tokens initially traded at a rate of 1 Eth = 900 BRD or roughly $0.77 at the time. Today BRD Token is trading at $0.47. At this price, 900 BRD tokens can only buy about 0.2 Ethereum, so investors would have been better off holding Ethereum tokens rather than purchasing BRD tokens from the ICO.
BRD Tokens have appreciated immensely in value over the past few months. The token traded for below 5 cents in November 2020, and it’s up over 800% from its previous lows. With this newfound momentum, some investors think BRD token has the potential to reach new all time highs.
How to Buy Bread Token
- Open an online account.BRD token is ranked the 625th largest cryptocurrency by market capitalization, so most major exchanges like Coinbase and eToro don’t support the asset. The 2 best places to buy Bread tokens are on Binance and the BRD Wallet app.
Binance is a leading cryptocurrency exchange platform that supports a wide variety of cryptocurrencies to trade. It also supports trading against Bitcoin and Ethereum, and certain coins like BRD token can only be traded through its BRD-ETH and BRD-BTC token pairs.
Making an account with Binance is easy. You just need to enter an email and create a password. Before you start trading, you’ll need to enter personal identification information for tax purposes.
The BRD Wallet serves as a crypto wallet and trading platform, and it’s the easiest way to buy BRD tokens. The app is available on iOS and Android, and investors have an aggregate of over $6 billion stored on their BRD Wallets.
The wallet doesn’t even require you to make an account. Instead, you’ll be given a recovery phrase that you need to write down, and you’ll need to set a pin to enter the app. Once you’ve set a pin, you can connect your bank account or debit card to add funds to your BRD Wallet.
- Buy a wallet (optional).Many cryptocurrency investors choose to store their crypto assets on a hardware or software cryptocurrency wallet to keep their investments safe. BRD Wallet is a software wallet, and it’s a secure option that lets you buy and sell Bitcoin, Ethereum and other altcoins directly on its app. Since BRD Token is an ERC-20 token (meaning it uses Ethereum’s network), you can use any Ethereum software wallet to store your BRD tokens.
If you want to hold your crypto assets in the most secure way possible, you’ll need to use a hardware wallet. Hardware wallets are physical devices that store your cryptocurrencies offline, so it’s impossible for hackers to steal your cryptocurrency.
- Make your purchase.If you buy BRD tokens on the BRD wallet, then you can purchase the crypto using USD. If you choose to use Binance, then you’ll need to buy BRD tokens with either Bitcoin or Ethereum. Trading against Bitcoin or Ethereum can give you an idea of how your investment’s returns compare to the returns of other major cryptocurrencies.
For example, if you buy 1 BRD for 0.0002 Ethereum and later sell it for 0.0004 Ethereum, then your investment would have shown double the returns that Ethereum had in that same time period.
Bonus: BRD tokens are limited to only 88 million tokens, so there won’t be inflation on the token. Users must hold BRD to receive tiered rewards, further limiting the supply of BRD tokens for sale on the market.
Best Crypto Exchange for Bread Token
Best Hardware Wallet: Ledger Nano S
Ledger has been making cryptocurrency wallets since 2014. The company is trusted by many cryptocurrency investors, as Ledger’s wallets are among the most secure and easy-to-use hardware wallets. The device is about the size of a thumb drive, and it connects to your computer via USB cable.
The Ledger Nano S supports over 1,000 different cryptocurrencies, so it’s the only hardware wallet you’ll need. Ledger also makes the Ledger Nano X, which is a more premium version of the Nano S. Both of these wallets serve the same function, but the Ledger Nano S costs much less than the Nano X, coming in at just over $50 on Amazon.
Best Software Wallet: BRD Wallet
Although any Ethereum software wallet will work to store your BRD Tokens, BRD Wallet has many unique features that make it a great choice. It’s extremely easy-to-use, and holding BRD tokens in BRD Wallet gives you access to special features, such as reduced trading fees.
Trade, Sell or Convert your BRD Tokens
If you plan on trading your Bread tokens, you should store your crypto assets in your BRD wallet. Most cryptocurrency wallets don’t let you exchange cryptocurrencies directly from your wallet, but BRD does.
If you plan on holding your BRD tokens in another software wallet or hardware wallet, then you’ll need to send them to your BRD wallet or Binance to sell your tokens. Binance allows you to trade your BRD tokens against Ethereum or Bitcoin, but not USD. You’ll then need to sell your bitcoin for USD to transfer your funds back to your bank.
Current Crypto Prices
The cryptocurrency market as a whole has been in a bull run this year. Prices of major cryptocurrencies like Bitcoin and Ethereum have more than doubled since the beginning of the year, and most altcoins have shown similar, if not better, returns. Keeping an eye on Bitcoin’s price can give you an idea of how the crypto markets as a whole are doing –– altcoins almost always follow Bitcoin’s price trends.
Is Bread Token a Good Investment?
Although BRD Token has appreciated with the cryptocurrency markets as a whole, it has yet to reach its prior all time high prices. Even with BRD token appreciating over 500%, some investors are skeptical that BRD token can return a higher ROI than other cryptocurrencies like Bitcoin and Ethereum.
The value of Bread token relies on users to hold the token for incentives on it’s platform, so if BRD Wallet gains a large user base, the token will likely appreciate in value.