How to

Guide: Manage Your Cryptocurrency Portfolio Efficiently With BRD Wallet

Key facts:
  • BRD is a deterministic wallet that uses the BIP39 recovery seed.

  • It allows you to store, exchange and even buy cryptocurrencies.

“We want to empower people around the world by taking advantage of the opportunities that Bitcoin offers” With this assumption, the BRD wallet development team describes itself. They offer us a more than interesting portfolio, without ads, completely open source and, in addition, easy and fast to manage.

BRD It’s a modern wallet, to sum it up in one adjective. Available on Android and iOS devices, where you can store bitcoin (BTC), ether (ETH) and bitcoin cash (BCH), along with over 100 ERC20 tokens belonging to the Ethereum network.

On the other hand, the wallet gives the user full control over their funds, allowing them to use a standard recovery scheme BIP39to be the sole true owner of the cryptocurrencies managed within it.

Besides this, BRD allows you to buy crypto assets directly from the application, either using your credit or debit card, or via bank transfers. This is thanks to the implementation of the Simplex service. It should be noted that we will not explore this module in this tutorial.

SegWit and BRD

BRD allows you to integrate SegWit into your Bitcoin wallet, a technology that, thanks to increasing network fees, has seen greater adoption. This is because, as part of its advantages, it reduces the size of transactions and therefore the commission paid to miners.

The SegWit feature is disabled by default. But don’t worry, we’ll show you how to activate it later.

In short, BRD is a pretty complete wallet, as you won’t be able to just manage or buy cryptocurrencies directly from the app. In addition, you will be able to exchange between different cryptoassets supported by BRD, positioning this wallet as one of the most complete you can find.

In short, by using the BRD wallet, we can enjoy:

  • Full control over our funds.
  • Wallet Open Source.
  • User-centric interface.
  • Management of more than 100 different ERC20 tokens.
  • Security of your private keys, as they are encrypted within the application.
  • Bitcoin SegWit addresses.

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Download, install and configure BRD

BRD application is located available for Android and iOS devices, so we can look for it directly in the app store that corresponds to our operating system. However, and as a general recommendation for any wallet you want to download, always go to official website where you can find authentic download links.

enter, We will immediately see the buttons that we are will redirect to the appropriate app store. All that remains is to install and run the BRD application.

Initial setup

At this point, with the wallet installed, we will proceed to create our first wallet by clicking Start.

When we start the process of creating a new wallet, we will be briefly introduced to the benefits of using our own cryptocurrency wallet called BRD. However, for the purposes of this guide, we will click on To omit in the upper right corner.

Create a security pin

The first step in the process of generating a new wallet is to set a security PIN that protects the application from prying eyes that might have access to our device. When you enter your wallet or send a shipment, you will be asked for this code.

Advice: Avoid entering a security PIN that relates to your personal information, such as your date of birth or identification numbers.

Create a backup of the recovery seed

A vital step in the creation of any deterministic portfolio is the creation of initial recovery support, which must remain under our protection, as future access to funds managed through BRD will depend on it. That is, a recovery seed composed of 12 words That’s the only way we’ll have to get our wallet back, no matter the case..

Going back to the BRD configuration, as you can see in the previous image, it talks about a key on paper, referring to the fact that Let’s write down the key, seed or recovery phrase on a piece of paper. This is because if we keep a backup on our phone via a screenshot or in a note, in case of loss, total damage or hacking of the equipment, you risk losing access to the funds.

To begin with, we will have to click on Write down the key on paper, where later it will be necessary to specify the security PIN.

When it displays the recovery seed, BRD blocks access to screenshot programs, which is why you need to write down on a piece of paper in an orderly manner each of the words that will be displayed to you.

When the backup process for your seed is complete, BRD will ask you to confirm just two of the 12 words that make up your recovery phrase, to finally confirm that you copied the correct sequence.

Add cryptocurrencies

Now you have your wallet ready and functional where by default you will have activated cryptocurrencies that you see in the previous picture. However, keep in mind that together with them, BRD allows you to manage more than 100 different ERC20 tokens.

To see the complete list of cryptoassets, we will have to select Add wallets, which will show us the following list.

Here you can specify which cryptocurrencies will appear on your main screen. To add new cryptocurrencies, just select Add.

Manage cryptocurrencies in BRD

Keeping track of your money in the BRD wallet is quite simple. Especially since directly from the main screen, you can manage all the balances that make up your portfolio.

When you enter any of the previously enabled wallets, you will see detailed information about it, where we will find available balance, operation history and send and receive buttons (which we can find in all wallets). Besides, BRD includes a search engine that allows you to track transactions more efficiently.

Receive cryptocurrencies

Receiving cryptocurrencies in BRD is quite simple. First of all, you will need to get the public address of your desired cryptocurrency. To do this, just click on the Receive button that you will find inside the wallet of your choice.

If you want to copy the generated address, You just need to press the QR code and it will be sent to the clipboard immediately.

Activate SegWit addresses

As we mentioned at the beginning of this guide, BRD has support for generating SegWit addresses, which helps us reduce payment fees when sending a shipment.

To activate this function, we will have to go to the settings menu and there we will select Preferences > Bitcoin settings > Enable SegWit.

Here you will see a brief indication that SegWit is still a beta feature, and once it’s enabled you won’t be able to disable it. This means that every time you request a public address, you will receive a SegWit address.

You can get legacy addresses after activating SegWit from the Bitcoin Settings menu.

Send cryptocurrencies

In this case, we’ll start by clicking the Submit button.

We will fill out this form with the following information:

  • A: Enter the destination address. Within the same box we can see buttons that allow us to paste or scan the specified address.
  • Amount: Total amount to send. By default, the amounts are stated to be in US dollars, but if we click on the USD button, we can express the amount in the currency we are sending.
  • Processing speed: This refers to how much commission we are willing to pay to reduce the time it takes to confirm a transaction.
  • Note: Some notes about the transaction we are doing. It is completely optional.

By clicking Send, we will need to enter a security PIN so that we can finally sign the shipping transaction.

Import the private key

Basic concepts

The private key is what allows you, as the owner of the cryptographic asset, to mobilize your funds within the network. You will sign outgoing transactions through it.

In BRD, private keys are not visible to everyone. Are They are encrypted inside our device so no one has access to them. However, there are other types of wallets where the private key is publicly visible. In particular, we mean paper wallets.

A paper wallet is a purse at its most basic, and that’s just it it consists of a private key and a public address written on a piece of paper. These types of wallets obviously do not allow us to comfortably manage our funds.

To make our lives easier, wallets like BRD allow us to import funds stored in a paper wallet into our digital wallet and use them as we wish.

Differences between cleaning and importing a private key

Let’s start with the sweep, an operation that consists of transfer funds, managed by a printed private key (paper wallet), directly to our wallet. This process involves the mining payment for the transaction being performed. This procedure allows you to discard the paper wallet you import, because now cryptocurrencies become part of your portfolio in BRD.

Second, there is a process called direct import, where an address – not funds as in a sweep – is transferred to the destination wallet, which allows you to manage the cryptocurrencies associated with it.

So BRD allows you to clean or import the private key. But note that this is only possible for bitcoin and bitcoin cash.

Scan the private key

The first thing we will do is go to Menu > Settings, where we will select the cryptocurrency that corresponds to the address to import, and later we will select the Use private key option.

Here you will just need to select Scan Private Key and your device’s camera will automatically launch to continue scanning your paper wallet.

Remember that this process involves paying a commission that is deducted directly from the funds held by the imported private key.

Conclusions

Fast, simple and easy to adjust. BRD’s portfolio can be fully described with this short summary. Since during all the tests it was at the top of the requirements.

Something interesting, which you can only realize when you use the wallet yourself, is that you won’t be using your device’s default keyboard, because the wallet keyboard is displayed every time it’s needed. Clearly, this is in favor of security, as many of us tend to install custom keyboards that can compromise our privacy..

Its interface should also be highlighted, because it has details that make it attractive to the eye, and at the same time simple so that any user, regardless of the level of knowledge of the crypto world, can use it without any complications.

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