New to BAT and Crypto - Looking to confirm my understandings

Hello everyone,

I’ve been using Brave regularly for several months. I’ve recently been learning about crypto in general, especially BAT. I’d like someone to confirm what I think I know:

  • Coinbase and Uphold (among others) are a kind of “crypto bank”. You add funds to your account, exchange fiat with crypto, or crypto with crypto, and trust they will operate your funds as you would trust a dollar to your bank like Chase, Bank of American, or whoever.

  • Kraken is a stock exchange website for Crypto.

  • A wallet is just that, a wallet, in that it holds your crypto but you are responsible for it and its contents, much like how I am responsible for my physical wallet as well as the money and credit card inside.

  • Wallets grant you a public and private key. You expose your public key to the world as a channel to receive crypto. You never expose your private key. Your private key is something that verifies incoming or outgoing crypto.

  • Wallets give you a recovery phrase, which is a list of words that act like a password. This is used to recover that specific wallet in case you lose it. Lose the wallet and the recovery phrase and the wallet and its contents are gone forever.

  • Brave has a limited function wallet that Uphold manages. This wallet contains Brave Reward BAT tokens. In the near future, we will be able to withdraw these BAT tokens into a wallet or a crypto bank like Uphold or Coinbase.

  • Can I freely move BAT between Coinbase and Uphold, or any other so-called ‘crypto bank’?

  • When the updates arrive, can I freely move BAT between crypto banks and my Brave wallet?

  • What wallet does the Brave team recommend and why? General users, what do you guys recommend and why?

  • General users, what crypto bank do you recommend and why?

  • Is it pronounced “bat” or “B-A-T”?

  • If a wallet and pass phrase is losti is any containing crypto ‘destroyed’ or lost forever?

Thank you for your help! I may be asking more questions if I get responses. : )

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