It’s been 3 days since my Ad tokens got processed and are showing in my brave://rewards page, but when I go to “Wallet” from settings, it shows my account balance to be 0$. Is this some glitch/un-updated thing, or because my Wallet is unverified?
@MrZelix Brave Wallet is different than Brave Rewards. Let me explain a bit here more.
Brave Rewards is the original part of Brave and it’s where we earn BAT. The BAT we get from Brave Rewards is actually called vBAT. Those tokens can only be used to tip others or to sit in our wallets. If you’re Unverified, it stays that way and can’t be transferred to anything else. (For now, that is looking to be changed at an unknown date in the future).
When you Verify the wallet with Uphold or Gemini, that vBAT get exchanged and turned into BAT on the Ethereum Network. Once this happens, it can remain as BAT, converted to other cryptocurrency, or even “sold” and converted to fiat money (real cash).
All of that is separate from Brave Wallet Meaning the vBAT in your browser or the BAT on your custodial wallets with Uphold or Gemini won’t show there. The current iteration of Brave Wallet is kind of lame in my opinion, as it’s only used to store and transfer a limited range of cryptocurrency. Any crypto bought on Brave Wallet has to be bought from Wyre at this point in time.
This is being expanded on and there’s more to it than is stated here, but I just wanted to say the basics. If you ever do go to use Brave Wallet, I want you to realize that in order to transfer anything out of it, you’ll need to also have a cryptocurrency called ETH to use as “Gas.” It can be expensive based on prices, such as a person last year had to spend $30 in order to transfer $38 of currency out of it. I think a more recent was a person had to do like $20 to transfer about $100, but yeah…just to paint a picture. Things like that are more for investment and nothing to worry about if you’re just using Brave for Brave Rewards and trying to fairly quickly convert that to cash.
TL:DR
Brave Wallet is different from Brave Rewards. Don’t pay any mind to Brave Wallet, lol .
So…say I verify my wallet, then do my vBAT-turned-BAT, stay in the brave wallet, or in a Gemini wallet?
Correct, if you Verify then your verified wallet is where everything would be stored.
Right now, while Unverified, all of your BAT (vBAT, though I’m going to start saying just BAT, at least you know it’s vBAT until it’s in a verified wallet) is actually being stored in your browser. If you get rid of the files, damage your device, or anything of the sort, then all the BAT will be lost and you’ll have absolutely no way of recovering it.
If Verified though, all that BAT paid out to you each month is actually stored on Gemini/Uphold. So if something happens to your device or browser, all BAT you’ve earned will be safe in those accounts.
It can get confusing because we use “wallet” and all loosely on these forums sometimes, but at least kind of explained vBAT and all. Though it’s said you have a wallet where that’s being stored, you now know it’s not really a “wallet” compared to just being stored in your browser. It’s similar to how you might be carrying around a paycheck or something. It has value and it’s on your person, but it is practically worthless until you go to a place that will be able to convert it to real money.
When you Verify a wallet, that just means you’re linking a wallet to your account. That wallet is then referred to as your custodial wallet, because it’s the wallet that is going to have custody of your BAT and other currency. In a sense, a custodial wallet is just a bank account.
Does that make much sense to you?
So, I can’t do anything (such as transfer it to another account, or withdraw it, etc.) with the BAT I earn as long as my “wallet” is unverified?
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