Or you can just install uBlock Origin. I don't see what Brave brings to the table.
It is far more practical to download an already adblock-included brower than having to mess with extensions on mobile.
I installed it soon after switching to Android from iOS and I have no complaints, it is fast and it just works.
You don't need to "opt in to receiving ads sold by Brave Software in place of the blocked ads" for that.
The earlier concern about data sharing and privacy by advertising companies is not an identical problem to users being served ads.
That's nice, but as a user I have no interest in rescuing the ad industry. The sooner it dies, the better.