Where is the crypto in Brave wallet actually being held?

When you deposit cryptocurrency in a Brave wallet, where does that crypto actually go? Where is it actually being held? Is it held at an exchange, like Uphold or Gemini? I looked through the FAQ on Brave Wallet, but this question is not answered there. Thanks

‘Wallet’ is actually a misleading name. Crypto is recorded on the blockchain. All that your wallet is is a way to generate the private keys to access your address on the blockchain.

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Thanks for the reply. So does that mean that the Brave wallet just holds the keys to access the crypto that is on the blockchain? So there is no 3rd party accessing your crypto or the keys to the crypto?

That’s correct. This also means that if you lose access to your wallet (ie your computer blows up or your drive crashes) your crypto is no longer accessible, so make sure you save your backup phrase (or seed phrase). There is no ‘I have forgotten my password’ button .

If my computer goes down, and I have the seed phrase written down on a piece of paper, can’t I use it to access my Brave wallet using another computer?

You can use the same seed phrase on many different devices at the same time and they will all give you access to the same addresses on the blockchain. Your seed phrase is the secret that generates the private keys, so keep it safe. Writing it down on a piece of paper is probably not enough, because if your house burns down you’ll lose both your computer and your bit of paper.

So from what I’ve gathered so far, the Brave wallet is an online venue for accessing the blockchain using your seed phrase. That’s different from a physical cold wallet that you hold in your hand. Doesn’t that make the Brave wallet less secure, because of the risk of someone else hacking or spying on the online connection between you and the online wallet? On the other hand, it eliminates the risk of loss or damage to a physical wallet. Is my understanding correct?

Never mind, I thought I saw something about Rewards, but you’re on something different. Ignore this comment/post of mine. I was never here…

A cold wallet or hardware wallet is an electronic device that generates the private keys for you. It is safer than a software wallet and is the gold standard when it comes to holding crypto. if you lose or damage your hardware wallet there is again a seed phrase you can use on another hardware wallet and this restores access to your crypto.

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Thanks. Your answers are very helpful.

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