Unusual cryptocurrency software wallet The Edge Wallet is intriguing. The Edge Wallet, which is only available for mobile devices, provides simple setup, an intuitive user interface, and a number of additional features that we will discuss in a moment.
Edge began as a Bitcoin-only wallet in 2014 under the name Airbitz. Edge Security was the name of the security architecture that Airbitz Bitcoin Wallet used, and the business later integrated it into blockchain projects like Augur and Wings.
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What Is Edge Wallet
Edge has developed a safe non-custodial wallet that is accessible on both iOS and Android for all of your assets. Along with Ethereum ERC20 tokens, it currently supports more than 20 cryptocurrencies. It sets itself apart from other wallets by providing a plethora of extra services in addition to storing and transferring cryptocurrency. Edge serves a multi-national clientele and offers fiat on- and off-ramp options in numerous regions. Users have up to four different providers to choose from in some areas, each with a different price, settlement time, and payment option.
Just a username and password are needed to register for Edge. The user’s private key is encrypted using the password and then stored on Edge’s servers. If you lose your phone, you can still access your wallet using your password login. Rest assured that even though Edge has the associated private key on their server, they are unable to access the associated funds due to the private key’s strong encryption.
What Cryptocurrencies are Supported?
With only a total of 7 coins supported, The Edge wallet only supports a fairly small number of cryptocurrencies. The fact that most other mobile wallets support at least 10 different cryptocurrencies makes this the Edge wallet’s biggest flaw. Currently, there are well over a thousand cryptocurrencies in circulation, and this number is steadily increasing. There are undoubtedly more than 7 coins that people are interested in, even though the majority of cryptocurrencies aren’t even worth holding. Thus, the Edge wallet must add support for more coins if it hopes to remain relevant and gain an advantage over rivals.
All ERC tokens and 33 crypto assets are supported by The Edge Wallet at this time. Users can also ask for the addition of their preferred coin to the list. There are a few assets that Edge Wallet already supports:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Monero (XMR)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- DAI
- Stellar (XLM)
- Bitcoin SV (BSV)
- EOS
- Tezos (XTZ)
- Binance Coin (BNB)
- Dash (DASH)
- Dogecoin (DOGE)
- Augur (REP)
Pros And Cons Of Edge Wallet
Pros
- Feature-rich wallet
- Easy set-up
- User-friendly interface
- Earn interest on your crypto
- Very safe and secure
- Bright future with lots of innovation
Cons
- A limited number of cryptocurrencies supported
- Cannot hold fiat currencies in wallet
- No fiat currency supported
- Not as secure as a hardware wallet
Features Of Edge Wallet
The simplicity of installation and use, security, and the abundance of in-app features offered by the Edge Wallet are its best qualities.
After installing the app, setting up the Edge Wallet is easy; you just select a username, password, and PIN. That is it.
Client-side encryption means that before being sent to the servers, all of your data is encrypted on your phone. By doing this, you can be certain that the business cannot access your account information and that even if the servers are hacked, the risk of your information being compromised is minimized. The app also provides a 2-factor authentication (2FA), auto logout, and password recovery. Additionally, Edge uses peer-to-peer cloud servers to backup all the data, and the encrypted data can only be unlocked using the user’s unique username and password.
The Edge Wallet provides features that appeal to almost everyone by allowing users to buy cryptocurrency with their credit card or a wire transfer, do cryptocurrency to cryptocurrency exchanges, earn interest on their assets, and buy gift cards with their assets—all within the app.
Powerful Security Tools
Like with any other wallet or account service, users secure their accounts with a password or PIN, but they can also further secure them with two-factor authentication (2FA). The Edge wallet supports both fingerprint and touch ID authentication in addition to the well-liked Google 2FA method. In other words, even if someone were to obtain your username and password, they would not be able to access your account. The password recovery manager, which you must set up after creating your password, is an additional security tool. A valid email address and the answers to two questions that only you can answer are all that are needed to set this up.
We can say with confidence that Edge is a very safe and secure mobile wallet after carefully examining all of the Edge wallet security features and reviews of the open source code. Your funds are still accessible even if Edge goes out of business and stops offering their service because all of your data is encrypted on your device and you own and control your private key.
How To Use Edge Wallet
The installation and setup procedures should be completed first.
Step 1: Choose the store where you want to download and install the app. My example includes the Google Play Store because I’m using an Android device.
Step 2: You’ll have the option to register once you’ve installed and launched it. To proceed, press the button.
Step 3: Edge explains how your username and private keys will be solely yours, and that it is your complete responsibility to remember them. Take notes!
Step 4: Choose a username, then proceed.
Step 5: Make a password, then confirm it. Use only a brand-new, unique password, and be sure to write down everything above!
Step 6: Finally, a request is made for a unique PIN code. It is a welcome addition to the security measures already in place.
Step 7: A few more confirmations will be given to you; read them all, then proceed.
Step 8: You’ve successfully created an Edge wallet account.
Even though the creation of this wallet might have taken longer than with the majority of other mobile wallet apps, it was still not difficult.
Summary
Overall, the Edge wallet is a very capable mobile crypto wallet. It provides a great user experience and is extremely safe, secure, and user-friendly. The wallet does not currently support a large number of cryptocurrencies, but more are soon to be supported. The Edge wallet has many cutting-edge features, including the exchange feature, and plans to incorporate many more in the near future. Overall, the Edge wallet is an excellent option for a mobile crypto wallet.