Brave Launches Brave Wallet

Brave has announced the launch of its new crypto wallet, the Brave Wallet. The wallet replaces the previous wallet which had the same name.

The new wallet allows “Brave users to store, manage, grow, and swap their crypto portfolio from a single wallet”. The wallet is native to the browser which means it doesn’t require extensions like other wallets.

This native design gives the benefit of a reduced security risk and less reliance on CPU and Memory for your wallet.

This launch comes on the heels of Brave partnership with Solana. A partnership that includes the integration of the Solana Blockchain into the Brave, making it the default for DApp support.

With the Brave Wallet, users can:

• See live and historical market graphs (price data powered by CoinGecko)
• Find the best price match against a list of providers with built-in swap functionality
• Send and receive assets
• Buy with fiat via Wyre 
• Interact with DApps for any EVM compatible network
• Manage their portfolio — with non-fungible token (NFT) and multi-chain support 
• Easily import their wallet from MetaMask and self-custody wallets, or Brave’s legacy Crypto Wallets extension, or hardware wallets such as Trezor and Ledger (no Ledger Live required)
• Send and receive NFTs 

The Brave Wallet is a self-custody wallet that is built into the leading secure Web3 Brave browser. The Brave Wallet allows users to connect with hardware wallets like Trezor & Ledger. Users of Brave can continue to use other wallets if they prefer, such as MetaMask or Brave’s legacy wallet named Crypto Wallets. For the first time, all Brave users will have access to Web3 decentralized applications (DApps) without installing browser extensions.

Note that the Brave Wallet feature is different from Brave Rewards, Brave’s opt-in feature that rewards brave users with Basic Attention Tokens (BAT) for viewing privacy-protecting ads. 

Users can store redeemed BAT from Brave Rewards in the Brave Wallet after going through the custodial process, but the two features are otherwise not connected.

I personally faced trouble trying to import my own Etheruem Private key so it very well has its fair share of issues. The fact however that the Brave Browser has so many users means the wallet has a very large potential userbase if users adopt it.

It is not a requirement to use the new built-in Brave Wallet as users can choose from Brave wallet (prefer extensions), Crypto wallets (deprecated), The Brave wallet, or none as their default cryptocurrency wallet for the web browser.

The Brave Wallet will also be available on the Brave Mobile Web browsers apps.

What are your thoughts on the Brave browser having its very own built-in crypto wallet? Share your thoughts below.