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Brave Wallet: what it is and how it works

Brave Wallet is a product of the Brave browser, a popular browser focused on privacy and without ads.

Brave Wallet allows users to purchase, store, send, exchange, and connect with Web3 dApps.

Unlike other crypto wallets, Brave is a browser-integrated wallet; it’s not an extension.

To use Brave Wallet, you need to download the Brave browser.

To create a Brave Wallet account, you need to click on the “Wallet” icon in the upper right corner of the Brave browser.

Then, follow the account setup process which includes setting up a new password and backing up the recovery phrase/seed.

Brave Wallet vs MetaMask

Brave Wallet and MetaMask are decentralized crypto wallets that allow users to store, send, exchange, and connect to Web3 dApps.

Between these two wallets, MetaMask is the front-runner and has over 30 million monthly active users.

Although the Brave Wallet is a newcomer, it has some advantages over MetaMask. The built-in browser is one such advantage that gives users more speed and burns less CPU and memory.

features Bold wallet MetaMask
Network support: Ethereum, EVM chains, Solana, SPL chains and Filecoin Yes No; Limited networks only
Token Swaps on Ethereum, Polygon, Binance Smart Chain, Optimism, Celo and Avalanche Yes Yes
Built-in browser Yes No; it’s an extension
Hardware wallet support Ledger and Trezor Ledger and Trezor
Real-time market data Yes, by CoinGecko no
Connecting to dApps Ethereum and Solana Ethereum only
Open License Yes no

Steps to create and use Brave Wallet

1. Download Brave

As mentioned above, to use Brave Wallet, you need to install the Brave browser.

First, download the Brave browser.

To do this, you need to visit the Official website of Brave.

Once you are on the website, click on the “Download Brave” button.

2. Run the installer

After clicking Download Brave, a file .exe will be downloaded at the bottom left of the Chrome or Firefox browser.

Click on it to install the Brave browser.

Now, click on “Let’s Go“.

After that, you can import bookmarks from IE, Chrome, or Firefox if you want.

Then, click “Done“.

That’s all. The Brave browser has been successfully installed.

3. Click “Wallet Icon

After successful installation, you will be able to “Wallet icon” in the upper right corner of the browser.

Click on it and then click on “More Information“.

4. Set your password

After clicking On More Information, you will land on the portfolio onboarding page.

Here you can see two options: Start and Restore.

After that, you will be asked to set a new password to lock your Brave Wallet.

Enter a password in the boxes provided. Remember that the password must be at least 7 characters long and contain a number and a special character.

After setting the password, click “Continue“.

5. Backup and verify the recovery phrase

The next step is to back up and verify the restore phrase.

Recovery/seed phrase is a phrase that is the only way to regain access to your Brave wallet account in case of forgotten password, lost or stolen device or wallet change.

So, it is very important to keep the 12-word Brave wallet recovery phrase in a safe and secure place.

Now, you will be shown the importance of the recovery phrase.

Read it and select the checkbox.

Finally, click “Continue“.

By clicking Continue, you can see your 12-word Brave Wallet recovery phrase.

We recommend that you write it on a piece of paper two and store it in a place where you only have access to it.

After backing up the restore phrase, select the checkbox and click “Continue“.

Next, you need to check the recovery phrase.

Select the words listed in the correct order and click “Verify“.

6. Use Brave Wallet

You are now one step away from using the Brave Wallet.

You need to enter your password to unlock your wallet.

Brave Wallet has a simple and clean user interface.

Anyone can buy cryptocurrencies in the Brave wallet using Ramp or Wyre purchase methods.

So, you can send or trade cryptocurrencies with ease.

To receive cryptocurrencies from other wallets or centralized exchanges, you need to copy your Brave Wallet address.

To do this, click on the “partial address” in the upper right corner under Buy, Send and Exchange.

conclusion

Installing and creating a Brave Wallet account is a simple process.

After creating a Brave Wallet account, you can buy, send and trade a lot of cryptocurrencies.

Always remember to keep your secret recovery phrase/seed phrase in several places to prevent it from losing. If you’ve lost them, no one can access your account, not even Brave developers.

It is advisable to store the recovery phrase in a physical piece of paper rather than in an email or computer.

Beware of scams. No one will ask for the recovery phrase, including the Brave team at any time.

If your recovery phrase is exposed, your bottom will be compromised.

frequently asked questions

1. Is Brave Wallet safe?

Brave Wallet is a multi-chain crypto wallet from the Brave browser. Since it is a browser-integrated wallet (i.e. not an extension like other wallets), there are fewer chances of phishing or a fake version of the application. So, it is more secure than MetaMask and other crypto wallets.

2. Is Brave Wallet available as a mobile application?

Since Brave Wallet is built within the Brave browser, it is available as a mobile application for both Android and iOS. It is also available as a desktop application for Windows, macOS and Linux.

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