Brave may come across as a dark horse in the world of browsers where big players like Chrome, Firefox, or Opera have long established their dominance.
Brave Browser stands out with its privacy-focused developments and a bunch of unique features such as an ad-blocker, surf-to-earn model, and additional privacy safeguards.
Brave was one of the first companies to see that the Web3 revolution was right around the corner, and it built its products to help people establish digital sovereignty.
Initial success motivated the Brave team to improve and expand its offerings. In late 2021, Brave rolled out a built-in tool in sync with its futuristic vision: Brave Wallet.
So what is Brave wallet and what makes it competitive? We’ll explain all that and more in this article!
What is Brave Wallet?
Brave initially developed Brave Wallet as a fork of the MetaMask wallet extension. There’s nothing wrong with this since MetaMask’s popularity is community-driven.
But as Brave evolved, the team realized that wallet extension might not be the ultimate choice that could fulfill its security and privacy goal. That was when the idea of a built-in wallet hopped on.
Brave Wallet is now built directly into the browser with superior performance and handy features.
The wallet is a good combination of convenience and high security while giving additional support for hardware wallets like Ledger and Trezor.
The Brave Wallet is accessible on desktop and mobile devices. It is important to note that the mobile-versioned wallet currently does not feature dApps support and EVM compatibility, and syncing between devices is currently not available for Brave Wallet.
However, the team will add these functions in the coming future. Brave Wallet adheres to the same system requirements as the Brave Browser. As the ecosystem expands, Brave Wallet will grow.
The Brave wallet is free to install and use, but you need to pay a transaction fee equivalent to the transaction value of similar crypto wallets when using the token/coin trading and exchanging feature.
Brave Wallet Features
Brave wallet brings a lot to the table. In addition to being free, it is integrated with one of the best new web browsers. It can be used with a range of digital assets, and users report that it is both stable and secure.
Of course, the fact that Brave Wallet is free helps.
You can use both Brave Wallet and Brave Browser for free. It is the only major web platform that actually pays you rewards to use the internet, which will help the platform grow over time.
There are very few drawbacks to Brave Wallet, especially if you don’t need Bitcoin compatibility. The mobile version of the wallet is less desirable, but as more development comes into the Brave ecosystem, the mobile version of the wallet will improve.
Let’s take a look at what Brave Wallet offers its users.
With Brave Wallet, customers can send and receive funds anywhere, anytime with guaranteed protection. Here are the main features of the Brave Wallet:
The Brave wallet is quite well-designed. Even for first-time users, the interface is intuitive, vibrant, and elegant while being simple to use. The stunning interface is the result of a brilliant development team, particularly the UI engineers.
Furthermore, the wallet supports a variety of languages, implying that the wallet can serve a wide range of consumers. You can use Brave Wallet in any major language, and the UI is easy to understand.
Brave Wallet simplifies transactions across multiple chains including Ethereum, EVM chains, Solana, SPL chains, and Filecoin. Because of the variety of token types, safe storage is vital.
Brave Wallet helps you to store assets without the need for a centralized storage website. As a result, your wallet is kept away from being hacked. What’s more, Brave Wallet can connect directly to your self-custody or hardware wallets.
The brave wallet is also used to swap coins. The swap feature allows you to find the best, most relevant sources of prices on the DEX. From there, you can trade for high profits and limit the phenomenon of slippage.
The wallet was designed with privacy in mind. Users can store, swap, and check tokens without having to provide excessive personal information.
In the beginning there was Bitcoin, but now there are hundreds of major tokens with active development ecosystems. Brave Wallet supports many of the major blockchains, so you can hold a variety of digital assets with the platform.
Brave Wallet is a built-in wallet, which means it is built natively into the Brave Browser, rather than as a wallet extension. This is what sets the wallet apart from other competitors.
According to the Brave team, the built-in wallet guarantees superior performance as it takes up fewer CPU resources and memory on your device.
There are other advantages as well. You can use the wallet in concert with Brave Browser, which cuts down on time and hassle.
Whether you are a crypto newbie or an expert, staying up to date with the latest data is critical. The CoinGecko integration in the Brave wallet allows users to view live market data.
CoinGecko is a popular site that compiles and updates data on the performance of most cryptocurrencies, including cryptocurrency prices, in the cryptocurrency market. CoinGecko displays the price, trade volume, and price change over an optional time period using a real-time data stream.
dApp interoperability gives consumers access to a wide range of dApps, goods, and NFTs. The feature provides customers with an easy entry point into the realm of DeFi as well as other blockchain services and areas.
There is no doubt that more dApps will come into the blockchain space, and native functionality with Brave Browser is a big plus. As more people use unique tokens for third-party platforms, like video games, support for NFTs is important.
Brave Wallet Security
Chasing after the promise of advanced technology comes with shortcomings. The biggest one is a security breach.
Everyone is the target of cryptocurrency attacks. Many investors have always underestimated software wallets simply because they do not guarantee safety.
While wallet extensions provide flexibility, there is always the possibility of phishing and spoofing attacks.
Hackers can simply impersonate those digital wallets in order to carry out nefarious acts. Despite the fact that this is an objective aspect rather than system security flaws, the wallet team is unlikely to escape criticism.
Brave Wallet, on the other hand, is not an extension. Your funds are kept on the blockchain, while your seed phrase and private keys stay in your custody.
Being embedded into the Brave Browser is like being protected by a thick layer of armor, making it less susceptible to app counterfeiting, phishing, and thefts.
The open-source wallet also continuously upgrades the open-source code to maintain the highest level of security.
Get Started With Brave Wallet
To get started with Brave wallet, you first need to install the latest version of Brave Browser. After that, simply open your downloaded browser and select the Wallet icon from the toolbar.
For the mobile version, you can find the Wallet icon in the menu section.
Brave Wallet is simple to use, and works on every major platform. You can also grab Brave Browser for free, and see how the two platforms work together.
Brave Saw Web3 Coming
Individual ownership over digital assets is a cornerstone of Web3 functionality. In many ways Brave saw how cryptos and blockchain empower people in the digital environment, and built its products for the next generation of digital technology.
Brave Wallet takes its design cues from other, successful digital custodial platforms, and adds its unique twist on the technology. There really aren’t any major downsides to Brave Wallet, as long as it does what you need it to do.
Like any new wallet on the market, there will always be questions about how secure it actually is. As more people adopt the wallet, the team at Brave will refine its UI, and security protocols.
Brave Wallet Final Thoughts
The adoption of cryptocurrency wallets, which provide a user interface for engaging with Web 3.0 and blockchain apps, has seen fast growth in recent years.
Brave Wallet gives its users a lot for free, and can be used with a range of digital assets. While it is a great platform, it does have some drawbacks.
One thing to consider with Brave Wallet is that you can’t use it to receive your monthly BAT rewards. You still need to go through a custodian like Uphold, Gemini, or BitFlyer to get your rewards.
Also, the wallet doesn’t offer support for Bitcoin. This may or may not be an issue for you, but there are many Bitcoin wallets you can use.
On the other hand, Brave Wallet is a great wallet packed with security features to protect user assets from theft, unauthorized access, and phishing attacks.
The open-source wallet focuses on both security enhancement and feature development, making the authentication and transaction experience enjoyable.
Overall Brave Wallet is a quality product, and should be on anyone’s short list of digital asset storage solutions.
Brave Wallet is a great wallet packed with security features to protect user assets from theft, unauthorized access, and phishing attacks. Overall Brave Wallet is a quality product, and should be on anyone’s short list of digital asset storage solutions.
- Value for Money10
- Ease of Use9