Brave’s Self-custody Built-in Crypto Wallet to Give 42 Million Users Access to DApps for EMV-compatible Chains
The wallet feature is currently limited to Brave’s desktop browser but will soon be added to its Android and iOS version as well. In 2022, the Brave Wallet will make Solana the default for DApp support.
Privacy-focused browser Brave has announced the support for a native cryptocurrency wallet in its browser and replaced the MetaMask wallet extension.
Brave announced the free self-custody built-in crypto wallet on Tuesday, enabling its 42 million users to store, manage, and swap their crypto portfolio from a single wallet.
“Crypto markets are booming, with various assets hitting multiple all-time highs in the past year. More businesses than ever now accept crypto, and there is significant adoption from institutional investors.”
With millions of people becoming crypto users, they all require a wallet to store their crypto.
As such, Brave will now allow its users to buy, sell, and trade cryptocurrencies, store their NFTs and interact with Web 3 right from their browser. The wallet mainly supports Etherem, EMV-compatible chains such as Polygon, xDai, Avalanche, and L2s.
Already, Brave has partnered with Solana blockchain, as announced at Solana’s first conference Breakpoint last week in Lisbon, Portugal.
In 2022, the Brave Wallet will integrate the Solana blockchain, making it the default for DApp support, it said on Tuesday.
Being browser-native means, it doesn’t require extensions. Most crypto wallet extensions have inherent security risks and are more susceptible to asset theft, it said.
Brave’s crypto wallet, as such, reduces security risks and will also take up fewer CPU resources and memory compared to extension-based ones like Metamask and be less susceptible to phishing attempts.
Brave is also providing support for other wallets like Metamask and hardware wallets like Ledger and Trezor.
For the first time, Brave said its users would also have access to Web 3 decentralized apps (Dapps) without installing browser extensions. Through Brace Wallet, users can see live and historical market graphs powered by CoinGecko, enjoy built-in swap functionality, send and receive assets, buy with fiat via Wyre, and interact with DApps for any EVM compatible network.
“For the DApps out there… With Brave Wallet's release today on Desktop (and soon on mobile), you suddenly have 42M new users with web 3 access on by default. That's huge,” said Brian R. Bondy, co-founder & CTO at Brave, on Twitter.