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Brave adds new built-in crypto wallet that can store NFTs — but there's a catch

Brave browser
(Image credit: Brave)

Brave is a crypto-friendly browser that rewards its users with the Basic Attention Token (BAT) digital asset for viewing advertisements. To help users store their collected tokens, the web crawler once offered an easy-to-access wallet based on the Metamask extension (a popular online app used to hold cryptocurrencies such as Ethereum).

Now, Brave announced that it's replacing the Metamask-based app with a new built-in crypto wallet. Unlike Metamask, you don't need to install the Brave Wallet from the Google Web Store as an extension. It's a browser-native wallet, which means it's less susceptible to security risks. It's also less reliant on CPU and RAM.

The new Brave wallet can store NFTs and digital assets

Brave users can now buy and sell cryptocurrencies within the new built-in wallet. They can also store, receive and send NFTs. Keeping track of token prices will be easier, too, thanks to historical market graphics (provided by CoinGecko). On top of that, users can interact with decentralized apps (dApps) via the built-in wallet. 

Brave boasts that its new wallet is more secure and serves up better performance (less RAM and CPU hungry) than its predecessor. 

"One of the hurdles [of the crypto wallet industry is its] reliance on extensions, which [...] often leads to users losing funds via fake extension phishing scams,” said Brian Bondy, CTO and co-founder of Brave. "The Brave Wallet requires no extensions and is instead browser-native, removing key performance and security concerns."

However, there is a catch. Brave's new built-in wallet doesn't support all cryptocurrencies. For now, the wallet works with the Ethereum network. As such, Brave will gladly accept your Shiba Inu tokens (an Ethereum-based token), but it will not welcome Bitcoin nor Dogecoin. If you're wondering whether the new wallet accepts Solana (SOL), the answer is not yet. However, Brave promises that the wallet will be compatible with SOL in 2022.

Brave's new crypto wallet will also be available on mobile apps in the near future.

Kimberly Gedeon, holding a Master's degree in International Journalism, launched her career as a journalist for MadameNoire's business beat in 2013. She loved translating stuffy stories about the economy, personal finance and investing into digestible, easy-to-understand, entertaining stories for young women of color. During her time on the business beat, she discovered her passion for tech as she dove into articles about tech entrepreneurship, the Consumer Electronics Show (CES) and the latest tablets. After eight years of freelancing, dabbling in a myriad of beats, she's finally found a home at Laptop Mag that accepts her as the crypto-addicted, virtual reality-loving, investing-focused, tech-fascinated nerd she is. Woot!