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Brave rolls out crypto wallet built into its browser for desktop users

However, since the wallet works mainly with Ethereum-based blockchains, some of the other popular cryptos such as Bitcoin and Dogecoin might not be available at the moment.

Image by: Wikimedia Commons

Thu, 18 Nov 2021, 14:10 pm UTC

Brave is adding more functionality targeting cryptocurrency users. The company announced that added a built-in crypto wallet in its browser.

Brave’s new crypto wallet feature arrived with the browser update on Tuesday, November 16. With the native cryptocurrency wallet in place, users will be able to buy, sell, and trade digital currencies such as Ethereum (ETH) and even store non-fungible tokens (NFTs), according to The Verge.

The new crypto wallet allows token purchases through the blockchain-based payment platform Wyre and supports all Ethereum Virtual Machine-compatible tokens, according to Coindesk. Since it is a self-custody wallet, users will hold their private keys.

However, since the wallet works mainly with Ethereum-based blockchains, some of the other popular cryptos might not be available. This means that users will be unable to buy Dogecoin or Bitcoin at the moment but the Brave team plans to add support for Bitcoin and other cryptos in the future.

The company said that the built-in wallet will take up fewer CPU resources compared to other extension-based wallets such as the MetaMask. It will also be more secure against attempts to steal NFTs and phishing.

At the moment, the wallet will only be available to desktop users of the browser. However, Brave said that it will be adding the feature to Andriod and iOS versions of the browser.

Brave is an open-source offshoot of Google’s Chromium. The company said that the browser currently has around 42 million monthly active users.

The wallet feature is targeting crypto owners among the browser’s users and could open up a new revenue stream for the company. A company spokesperson told Coindesk that it plans to take 0.875 percent of token swaps coursed through the wallet interface, which is equal to MetaMask’s swap fee.

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