By James Davis
Among the features that make the Brave browser exciting is its Brave Wallet. This article explores the Brave Wallet and how it competes with other popular crypto wallets like MetaMask. We will also teach you how to install it and start collecting the BAT tokens.
The Brave Browser
Brave is one of the few browsers that track and block ads by default to enhance user experience. However, if a user deactivates the browser’s ad blocker to allow advertisements to run, they are compensated with Brave Rewards in the form of BAT (Basic Attention Tokens). Since February 2022, more than 10 million Brave users have received BAT. These tokens can be used as tips to content creators or can be redeemed.
BAT
BAT is Brave’s native token running on Ethereum. It tracks users’ attention and then rewards them. The token was launched via an Initial Coin Offering in 2017. At the time, the team behind Brave raised more than $34.5 million.
As mentioned earlier, BAT tokens are acquired through viewing ads. However, if this process isn’t ideal for you, you can purchase them from various crypto exchanges, including Binance, Kraken, Bitget, Upbit, and BTSE.
What’s Brave Wallet?
Brave Wallet is non-custodial, meaning users take full responsibility for their crypto assets. Besides allowing the buying of cryptocurrencies, Brave Wallet lets users swap tokens, track market data, and receive or send non-fungible tokens (NFTs). The wallet performs exceptionally well while utilizing less energy.
Brave Wallet was originally a Metamask’s fork. However, as the Brave ecosystem continued to grow, the team behind the project realized it wouldn’t achieve the highest security standards through the fork, so it built its own wallet and integrated it into the Brave browser.
Is Brave Wallet free to use? Yes! However, to swap crypto assets, you will need to pay some fees. Moreover, the wallet is compatible with Android, iOS, MacOS, and Windows operating systems.
Brave Wallet’s Features
Here are some features that make the Brave Wallet unique:
Price Matching
This wallet serves as an aggregator, allowing traders to buy or sell cryptocurrencies at the best prices.
Decentralized Applications
Brave Wallet owners can use it to explore various decentralized applications built on EVM-compatible networks like Avalanche and Polygon.
Import Wallets
Brave Wallet makes it possible for users to import other wallets from Ledger, Trezor and MetaMask.
How Do You Set Up Brave Wallet?
Here is a step-by-step guide to setting up your Brave Wallet.
To start using Brave Wallet, you first need to download and install the Brave browser. Once downloaded, open the browser and click the wallet icon located in the top-right corner to set up an account on Brave Wallet.
Next, click the “Learn More” button and then “Create New Wallet.” Now tick all the boxes to indicate you have read and understood the legal policies stated. After doing so, it’s time to create a unique password. Once you input it, click “Next.” A newly generated seed phrase will appear on the next page. Make sure you note it down because you will need to access your wallet in the event you cannot remember your password.
After writing down the seed phrase, click the “Continue” button, enter the 12-word phrase, and press “Confirm.” Once done, your Brave Wallet account will be active, so you can proceed to purchase or deposit tokens.
Brave Wallet vs. MetaMask
These two wallets allow their users to explore decentralized applications and store a wide variety of cryptocurrencies. But there are key differences between them: Brave Wallet is already available on the Brave browser, while MetaMask users must install the wallet’s extension to their preferred web browsers. Additionally, Brave Wallet supports the Solana network, while MetaMask does not.
Conclusion
Brave Wallet is gaining popularity because it offers a user-friendly interface, allowing novice crypto users to easily buy, store, and swap their assets. Furthermore, the Brave team promises to keep innovating its wallet. Therefore, we might see more features added in the future.