BRD merging into Coinbase

In the past we’ve recommended BRD to some of our customers when it was still called Bread Wallet.

Recently, BRD announced that they are joining Coinbase and BRD will be folded into Coinbase Wallet. Because of this news, some of you have come back to ask us what we recommend.

No one at Bloom uses the Coinbase Wallet, so we are unable to give any insight to how it may serve your needs.

Should I stay

If it is self custodial as they say, then the security model should be the same as BRD: you’re keeping the keys to your crypto in a phone. If you’re comfortable with this and it matches the level of risk you’re willing to accept for the amount of crypto you have, then you may follow Coinbase’s migration instructions when you open BRD.

Or should I go?

If you see this as a reminder to move your funds to a safer environment such a hardware wallet, then Trezor is a good starter hardware wallet. To send your funds elsewhere, we suggest you through the migration so you can access your wallet again, then send it out.

If you’re certain you don’t want to migrate, there are still ways to access your funds, but it is more complicated and requires some technical expertise. Still want to do it? Look into entering your seed phrase in a wallet that supports the assets you have. For Bitcoin, look at sparrowwallet.com. Make sure you do it in a safe environment, preferrably a computer that is offline.

Related: Storing Cryptocurrencies Securely