Edge (aka Airbitz Bitcoin Wallet) Edge (aka Airbitz Bitcoin Wallet) Website

  • ValidationSPV
  • AnonymityMedium
  • Ease of useEasy (Beginners)
  • Supported Coins
  • BTC
  • BHC

Pros & Cons

  • Simple to use and understand for beginners.
  • You can use it when you’re on the go because it is a mobile app.
  • You can access your own private key, putting you in charge of your own funds.
  • It is not difficult to recover your funds if you lose access to them, and they are securely backed up to prevent theft.
  • The source code is fully open-source.
  • The service only buys and sells Bitcoin and Bitcoin Cash, so there isn’t a wide variety of cryptocurrencies to choose from.
  • You are dependent on and affected by the transaction costs and time delays of the Bitcoin network.
  • The wallet lacks advanced features and services, such as paper wallet conversion and multisignature authorisation.
  • The wallet does not provide anonymous transactions.

Features

Buy and Sell from inside the wallet, Built-in Exchange, Discount vouchers and gift cards available, Hierarchical Deterministic wallets with changing addresses for each transaction

Wallet Info

Founder(s)
Paul Puey, Scott Morgan, Tim Horton, William Swanson, and Damian Cutillo
Price
Free to download. All transaction fees go to the network.
Private Keys Stored by
The network, but password-protected by you, and you can access it yourself on command.
Security
Great, close to the best security possible for a non-hardware wallet
What it is

A mobile application running a ‘hot’ cryptocurrency wallet (one that is connected to the Internet) that is connected with a built-in cryptocurrency exchange.

Introduction

Edge is a fully open-source mobile wallet designed for new users.  I find that it has strong security features, high anonymity, and is easy to use.

Development for the wallet began in January 2015. In October 2017, the wallet once known as Airbitz rebranded to Edge. It is still widely known as Airbitz, so for a while, you may have to search for it with this name, or visit their site at www.airbitz.co. It is available on Google Play and the Apple Store for a free download.

Out of 21 user reviews, 11 gave Edge the top 5-star rating, with an average rating of 4 stars.

Security

When using Edge, I have access to my private key, which makes me the one in control of my cryptocurrency on the site. Therefore, if the application or exchange goes down temporarily, I can easily move and spend my cryptocurrency elsewhere. I recommend that when you ‘export’ your private key, that you protect it well and never tell anyone the key – it is all that someone who wished to steal your cryptocurrency would need!

The key is not stored on any site in plaintext, so it cannot be exported by an unauthorised user. However, someone could potentially use a keylogger attack on your mobile device, or they could possibly even see you entering the password, maybe through the use of a well-positioned overhead camera.  In order to be secure, only install apps from official app stores, set a user password on your mobile, and hide your mobile device well whenever you enter your password or PIN on it.

Edge does not support multisignature authorisation. However, it is known for its implementation of One-Touch Two-Factor Authentication. When enabled, this means that only the registered mobile device can sign in with only the PIN code as normal. If another device attempts to sign on to that account with the correct PIN code, the user must scan a QR code on the original device, or must wait 7 days to sign on, provided that within the 7-day period, the original device is not used to disallow the second sign-in, by means of a notification sent to the first device. That way, if my mobile phone is lost, I can access my cryptocurrency again in 7 days. If my mobile is stolen, the thief cannot access my cryptocurrency or keep me from signing in with a new device without also knowing the PIN code. This extra layer of security is helpful, but the lack of multisignature support and the fact that it is possible to witness someone’s PIN code being entered does mean that, for users who have extensive crypto holdings, it is better to use a hardware wallet.

Edge has medium anonymity. Since you may only have a single wallet, it is possible for others to associate your wallet address with you, especially if you are an online vendor, because this requires publishing your wallet address. While Edge does not keep logs of its users online nor require any personal data to use, it also does not have any features that specifically help make users anonymous. Therefore, it is better not to use Edge for transactions that you wish to keep private.

Since Edge runs on my mobile phone, this means that it has a lower chance of being vulnerable malware that is specifically written to steal cryptocurrency. There are fewer unauthorised ways to access and corrupt mobile phone applications, especially if I as the user decide never to install applications that aren’t specifically signed as being trusted by Google or Apple. There are very few keylogger applications that run on mobile devices, and since Edge is a standalone application, browser attacks and JavaScript hacks will not work. The security team at Edge decided not to implement a web-based wallet system because web browsers have many vulnerabilities that specifically coded applications do not.

While it is obviously best to avoid my mobile phone being stolen, this should not cause the thieves to have access to my cryptocurrency, as they will have to enter a password that they do not know (as long as they never see me typing it in). In the unfortunate event of the theft of my mobile, I can regain access to your cryptocurrency through the use of your username and PIN, with a waiting period of seven days if I have enabled two-factor authentication.

Using this Wallet

I would rate Edge as being very simple indeed to use. Even its security features are relatively easy to implement and to transfer to trusted devices. Sending cryptocurrency through Edge is very easy; all you need to do is type in the address, the amount to send, and the fees, and then you press send. I can scan a QR code to pay with Edge, which is very convenient for me when I go shopping or to eat at a restaurant. I don’t then need a card or to pay for any extra features.

Because Edge is connected to its own exchange, it is easy to buy and sell cryptocurrency, making investment convenient, provided the fees or waiting times for Bitcoin are not high or long at the time you wish to make the trade.

Edge’s visual user interface has blue backgrounds, white text, and green and red buttons. Its multi-coloured interface suggests adaptability and user-friendliness. Support for Edge users is available by e-mail at support@airbitz.co. They have informative videos and user guides on their web site.

Alternatives to this wallet

Edge is a software-based mobile application that connects to the Internet (a ‘hot’ wallet).  Similar mobile wallets include Electrum and Mycelium. Desktop wallets include Agama and Exodus. For higher security for high-end investors, there are cold hardware wallets (such as Ledger and Trezor), and paper wallets (available from WalletGenerator.net).  Finally, for users looking for a multi-featured wallet system that feels familiar to banking, there is SpectroCoin (which has more extra features than most other wallets).

Conclusion

People with very large cryptocurrency holdings (anything more than 5 per cent of their individual net worth) would be recommended to use a hardware wallet to store the bulk of their cryptocurrency and only use Edge for fast transfers when shopping.

High-end users may prefer higher security such as multisignature transactions, and longer PIN code entry.

Desktop applications may suit some users better because it is easier to view records of transactions on a larger screen, and desktop applications tend to be more stable.

Overall, Edge is quite a basic wallet and exchange system. It contains no special features apart from simple-to-understand two-factor authentication in and of itself, but its user-friendliness and simplicity would make it a hit for cryptocurrency beginners.  Beginners who want a desktop application would be well-off to start with Exodus, and I can recommend Edge to those same users who would prefer a mobile application, as the simple design philosophy underlying both systems make them easy to use.

AuthorDavid Nugent

David is a forex trader and writer who has spent the last few years giving his opinion and spreading news about oncoming markets and trading tips. Besides from being a trader he is also a lifelong Everton fan and enjoys spending free time watching his beloved team in the premier league.

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