Edge Wallet Review | We Were Disappointed And Here's Why
Jack Moreau
Feb 2024
7 min read
Fact checked
Introduction: Looking for a no-nonsense review on the Edge Wallet? If so you're in the right place. We’re putting Edge Wallet under the microscope to serve you with the most relevant facts that you need to make an informed decision. Keep reading and find out whether Edge Wallet is well suited to your specific needs!
Edge wallet was founded in 2014 as Airbitz by founders Paul Puey and Michael Merklin. The team has raised over $10 million in funding from investors such as Coinbase, DCG and Greylock among others. Edge Wallet is headquarted in San Diego, California where they have a team of 25 employees.
Edge Wallet Team
Edge allows users to buy, sell, and trade cryptocurrency with a high level of security and privacy. The Edge mobile app supports the leading cryptocurrencies providing a large selection of assets for trading.
Edge Wallet
With over a dozen integrated exchange partners, users can also buy and sell crypto from dozens of payment methods in hundreds of countries. Built on our open source Edge Security SDK, the Edge mobile app fully encrypts all user data.
Edge Wallet app
The Edge Wallet is only available for mobile on Android and IOS. In total their apps have received over 1 million downloads and a 3.4 star ratingh based on 5,000 reviews. Users who are interested in Browser or Desktop wallet will have to look elsewhere as Edge Wallet does not support these platforms.
Edge Wallet Crypto
In terms of user experience, Edge Wallet is only available on mobile which will disappoint users that also want access to a wallet via their browser or desktop. Edge Wallet is non-custodial which of course is great for those who value privacy.
For users that wish to download Edge Wallet, they won't have to download any seed phrases as the app offers client-side encryption, automatic account backup and 2FA. instead users just need to enter a username, select a password and enter a 4-digit pin.
Edge Wallet USPs
Users can then select which blockchains they want to have visible in the app with options such as Bitcoin, Ethereum, Solana, Avalanche, Polkadot, BNB and others being available.
Overall, the Edge Wallet is a decent wallet but lacks support for blockchain ecosystems such as Cosmos and does not offer any innovative features. Edge also offers support for over 10 languages in the app.
Edge Wallet Features
Edge Wallet does offer an in wallet exchange but it's not a very intuitive product. Edge offers over 130 digital assets in the wallet which includes well known cryptocurrencies such as BTC, ETH, AVAX, SOL, LTC, MATIC, BNB, BCH, DOGE and many others.
Edge Wallet cryptocurrencies
For those that use the exchange services by Edge, they will have to pay a hefty fee between 0.5%-2% to make a swap. Edge users can lend and borrow in the app via the Avee third-party integration. Unfortunately, Edge Wallet does not support many other DeFi app integrations nor any support for NFTs.
Edge Wallet offers support for over 130 blockchains and cryptocurrencies which includes Bitcoin, Ethereum, XRP, Dash, Dogecoin, Avalanche, Solana and many other less known coins.
For those that wish to deposit their stablecoins, Edge Wallet offers support for USDT, USDC and BUSD among a few others. At the time of writing, Edge does not offer support for any hardware wallet integrations with the likes of Ledger or Trezor.
Users from 179 countries can buy and sell cryptocurrencies in the Edge Wallet app with fiat currencies. For Europeans, there is support for SEPA (1.5-3% fee), Google Pay (5-7% fe) and Credit/Debit Card (5-7% fee).
All of these options are much more expensive compared to simply depositing fiat currencies on a well known exchange.
Edge Wallet prioritizes user privacy and security through its zero-knowledge security architecture, ensuring that the company neither requires nor possesses any of the user's private data.
All data is encrypted client-side, directly on the user's device, before it ever reaches Edge's web servers, safeguarding assets against server-side breaches and malware. This method ensures that only the individual user has control over their cryptocurrency assets.
In addition to local encryption, Edge automatically backs up encrypted account data, ensuring that if a device is lost or compromised, users can restore their assets on a new device using their credentials.
The wallet further enhances security with its One-Touch 2-Factor Authentication (2FA) feature, which limits login access to only devices that have previously been authenticated.
And recognising the human tendency to forget passwords, Edge also provides a thoughtful password recovery option, allowing users to reset their passwords using two recovery questions and an associated email address.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
