Cryptocurrency News

Brave Browser Releases New Crypto Wallet for ETH and BAT

Blockchain-based internet browser Brave announced the launch of a cryptocurrency wallet for ether (ETH) and Brave’s native coin Basic Attention Token (BAT). The wallet is named “Crypto Wallet”.

Ethereum-based tokens and collectibles and Ether (ETH) can be accessed on the wallet. The wallet also supports decentralized applications (DApps) which makes Brave a Web3 browser.

Properties of the Crypto Wallet

The blog post described the wallet as a Metamask but created in the Brave browser.

The Brave in-built browser wallet, Crypto Wallet, is a client-side wallet, thus users are to control all the keys by themselves. Therefore, Brave isn’t involved in users’ transactions. The company said: “We don’t know what you’re doing, and we have no control over it.”

Brave made it possible for users to manage their keys in a software wallet by Brave. Another option for users is to connect a physical hardware wallet such as Ledger or Trezor. Currently, the new offering is available in Dev and Nightly versions of the browsers.

The post also informed users that the new offering is advisable for experienced users of cryptocurrencies, specifically Ethereum. The major reason for this is because Brave is yet to carry out extensive testing for launching the final version. Therefore, the company has advised users to only use small amounts and ensure regular backups.

Crypto Wallet and Brave Rewards

The blog post also mentioned that the wallet cannot interact with Brave Rewards yet. This implies that users cannot transfer any Basic Attention Token (BAT) between Brave Rewards and Crypto Wallets.

However, Brave plans to take measures to commence transfers between Brave Rewards and Crypto Wallets. Brave will add support for Uphold to its wallet, which will allow users to transfer crypto-assets between user’s Uphold account, Brave Rewards, and Crypto Wallets.

Brave’s long-term plan is to eventually integrate Crypto Wallets with Brave Rewards directly. Thus, it won’t rely on Uphold’s custodial wallet for private key management.

This will be one of the largest projects for Brave to complete.

In February, Brave Software announced a partnership with rewards platform TAP Network. This creates the opportunity to connect consumers with more than 250,000 brands.

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