Bread Wallet for iPhone

Bread Wallet is the first ‘decentralized’ Bitcoin wallet for iOS. The Bread Wallet app for iPhone is relatively new (first version—0.3—June 16, 2014). The software has some noteworthy features that set it apart from other e-wallets and make it a good wallet for beginners. These features include:

• Direct connection and backup to the bitcoin network (no intermediary servers).
• Built-in AES hardware encryption.
• App sandboxing.
• One button payments.
• Send and receive payments in seconds.
• Available in 19 languages.
• Simple “personal recovery phrase” lost wallet recovery process.
• Open source/free software
• No extra transaction fees or costs

The overall ease-of-use of this app is remarkable. While it may be lacking in certain functionalities that advanced users covet, Bread Wallet makes saving, sending and receiving Bitcoin easy and secure for the novice. Its two main strengths are security and a simple, easy to use streamlined interface.

The ‘personal recovery phrase’ backup system.
Even if your physical phone is lost or destroyed, your wallet can be recovered by using a ‘personal recovery phrase’ which is really just a complicated and amusing-to-read string of unrelated terms (this is known as a "seed" and acts to generate your private keys.)

Critiques.
As for drawbacks, etc., there is a fantastic thread on the subject which appears to have been joined by the creator of the app himself, Aaron Voisine. Many of the issues addressed by the contributors here have already been addressed and adjusted by the developer, but reading this discussion presents a unique opportunity to view the app’s developmental process “from above,” and also to hear various critiques of the app—some of which deal with currency exchange rates, micro-transactions, QR code customization, and wi-fi connection issues. You can read the thread on Bread wallet here.

You can visit the Bread Wallet developer website here.