With the growing popularity of cryptocurrencies, the number of different wallets has increased to meet the needs of all users. One of the most interesting is Brave Wallet. It is integrated into the namesake secure browser. This wallet definitely deserves a more detailed review.
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Brave Wallet – History
The project was founded by Brian Bondy (Khan Academy, Mozilla, and Evernote) and Brendan Eich, who developed JavaScript and co-founded the Mozilla Foundation. Clearly, such professionals are capable of creating something extraordinary. This became the Brave browser with flexible privacy settings and no ads, released in 2016.
The browser is built on Chromium and is open source. It resembles Google Chrome but:
- Does not show ads on websites by default;
- Does not collect personal data;
- Blocks location tracking;
- Blocks malware;
- Does not auto-play videos;
- Rejects third-party cookies;
- Does not create a digital fingerprint of the user.
Another breakthrough was the release of their own cryptocurrency, Basic Attention Token (BAT). It sold for $35 million in just 30 seconds. Today, you can earn it by, for example, watching ads in the browser.
A key Web3 element in the browser is the integrated Brave Wallet, which does not require additional installation. However, users can also choose familiar extensions at their discretion.
Brave Wallet – Features
Brave Wallet connects to other wallets and decentralized apps right on the webpage, like Metamask. It supports transactions with any digital assets issued on EVM-compatible blockchains (Ethereum, Polygon, BNB Chain, Fantom, Optimism, and others). You can also exchange fiat for cryptocurrency through Wyre or Ramp Network, store and transfer non-fungible tokens (NFTs), and view price charts from CoinGecko.
The crypto wallet has built-in DEX (decentralized exchange) functions – you can swap assets. For this, the wallet uses the 0x and Jupiter aggregators. The fee depends on the pair and is around 0.8-0.9%.
In May 2022, the wallet added support for the Solana (SOL) blockchain and its native cryptocurrency. In the next browser version, it became possible to store and transfer Filecoin (FIL) through Brave Wallet. Additionally, the wallet supports the Celo Network (CELO). The latest update added support for Bitcoin addresses using Native SegWit.
Besides the web version built into the browser, there is a mobile version for Android and iOS. It is also compatible with hardware solutions like Trezor or Ledger. Users can buy, store, send, and exchange thousands of tokens and NFTs on networks like Ethereum, Solana, Filecoin, and others.
How to Set Up Brave Wallet
To start using Brave Wallet, download the namesake browser and follow the step-by-step instructions:
- Go to the browser, click the wallet icon in the upper right corner of the screen, and then click “Learn more.”
- You are now on the wallet registration page. Click “Create new wallet” and confirm that you agree to the terms of use.
- Create a password for the wallet, confirm it, remember or write it down, and click “Next.”
- Write down the seed phrase. If you forget the password, this will be the only way to restore access to your account. This is very important! Save the phrase in several secure places. Confirm the phrase by selecting the correct words in order and click Confirm.
- Click Done to enter the wallet.
That’s it, the wallet is ready. Brave Wallet is completely anonymous and does not require identity confirmation or verification. It is created very quickly and can be used almost immediately.
How to Install Brave Wallet on Mobile – Video
To better understand how to install Brave Wallet on your mobile device, watch the video:
Advantages and Disadvantages of Brave Wallet
Advantages:
- Security: It is a non-custodial wallet, so the keys are only with the owner of the funds. Combined with the super-secure namesake browser, this makes Brave Wallet one of the safest solutions among hot crypto wallets.
- Free Use: Not only is the wallet free to use, but you can also earn some BAT by using the browser.
- User-Friendly Interface: It is intuitive and suitable even for beginner users. Moreover, the wallet supports multiple languages.
Disadvantages:
- The limited number of supported decentralized applications (Dapps), but this is gradually being resolved as the number increases over time.
Brave Wallet has become popular due to its simple and convenient interface and the ability to earn BAT tokens. Despite some disadvantages, this wallet will definitely be appreciated by users who care about their privacy.
Conclusion
The hot non-custodial Brave Wallet is one of the most convenient and secure today. It continues to develop, and its functionality is constantly expanding. Therefore, users can expect many interesting things in the future. It is definitely worth paying attention to.
FAQs about Brave Wallet
The wallet supports many currencies, including Bitcoin (BTC), Ethereum (ETH), as well as ERC-20 and ERC-721 tokens, and is compatible with other blockchains like Binance Smart Chain, Polygon, and Solana.
It is one of the most secure hot crypto wallets.
Yes, this is possible. You can transfer your funds from any wallets or platforms using a seed phrase or private key.
Yes, you can buy crypto using fiat money through integrated services.