How To Buy Basic Attention Token (BAT)?

A common question you often see on social media from crypto beginners is “Where can I buy Basic Attention Token?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. Thanks to its massive popularity, you can now buy Basic Attention Token on most cryptocurrency exchanges, including Coinbase and Binance in 3 simple steps.

Step 1: Create an account on an exchange that supports Basic Attention Token (BAT)

First, you will need to open an account on a cryptocurrency exchange that supports Basic Attention Token (BAT).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Basic Attention Token (BAT) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Basic Attention Token (BAT)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Basic Attention Token (BAT) or Basic Attention Token (BAT) trading pairs. Look for the section that will allow you to buy Basic Attention Token (BAT), and enter the amount of the cryptocurrency that you want to spend for Basic Attention Token (BAT) or the amount of fiat currency that you want to spend towards buying Basic Attention Token (BAT). The exchange will then calculate the equivalent amount of Basic Attention Token (BAT) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Basic Attention Token (BAT) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is Basic Attention Token (BAT)?

Basic Attention Token, or BAT, is the token that powers a new blockchain-based digital advertising platform designed to fairly reward users for their attention, while providing advertisers with a better return on their ad spend.

This experience is delivered through the Brave Browser, where users can watch privacy-preserving adverts and receive BAT rewards for doing so. On the other hand, advertisers can deliver targeted ads to maximize engagement and cut down losses due to ad fraud and abuse.

The Basic Attention Token itself is the unit of reward in this advertising ecosystem, and is exchanged between advertisers, publishers, and users. Advertisers pay for their advertising campaigns in BAT tokens. Out of this budget, a small portion is distributed to advertisers, while 70% is distributed to users — whereas the intermediaries that typically drive up advertising costs are cut out of the equation to improve cost-efficiency.

How Does Basic Attention Token Work?

As mentioned earlier, Brave is trying to enable an equitable distribution of value in the digital advertising industry. To achieve this, it has tried to create a privacy-focused platform such that advertisers or publishers cannot log users’ private data like IP addresses, even when the ad-block feature is not activated. In essence, users are promised privacy protection at all times. 

Part of the added security measures that Brave offers users is that it only features ads from its pool of verified advertisers. These advertisers pay a certain amount denominated in BAT to finance their ad campaigns on Brave. Subsequently, these funds are distributed among content creators and Brave users. 

With this system, Brave believes that users can shield themselves from fraudulent advertisements. In addition to this optimized privacy feature, you get to receive rewards denominated in BAT when you view ads. 

Likewise, whenever you visit a website and view the featured ads, the publisher gets paid in BAT. These content creators are also allowed to receive BAT as tips or donations from internet users. You can also access premium content from such websites by paying the subscription fees with BAT. As such, BAT functions as a reward and settlement mechanism on the Brave browser. 

The digital asset has been implemented to incentivize the attention value of users, which is calculated based on the incremental duration of ads on active browser tabs and the proportion of their visible pixels to the rest of the website. As for advertisers, this solution affords them clearer insights into the effectiveness of their advertisements. 

There is over 1.49 billion BAT currently circulating in the market. Considering that the maximum supply is capped at 1.5 billion BAT, the digital asset is almost fully diluted.

Who Are the Founders of Basic Attention Token?

Basic Attention Token has two founders: Brendan Eich and Brian Bondy — two highly distinguished individuals in the internet browsing software industry.

Brendan Eich is the CEO of Brave Software, Inc — the parent firm behind the Brave browser and Basic Attention Token. Prior to his role at Brave, Eich was the founder and CTO of Mozilla and also invented JavaScript in 1995. He also helped launch one of the world’s most popular web browsers in 2004 — Mozilla Firefox.

Likewise, Brian Bondy joins as Brave’s and Basic Attention Token’s CTO. Bondy is a heavily experienced engineer with previous experience working as a senior software engineer at Mozilla, software developer at Corel Corporation and software development lead at Khan Academy. Together, Eich and Bondy have a combined 50+ years of software development experience.

In total, the Basic Attention Token website lists 16 team members, many of whom have a development, engineering, or research background.

Basic Attention Token development updates in 2023

Basic Attention Token (BAT) has seen significant developments in 2023, focusing on enhancing the user experience and expanding its functionalities. Key developments include:

• Integration with the Brave Browser: BAT remains an integral part of the Brave browser, a Web 3.0 blockchain-based browser. The token can be used within the browser, providing immediate access to users. Brave also includes a secure, self-custody cryptocurrency wallet for storing and swapping assets, including NFT support, connecting users to the Web3 sphere.

• Partnership with Solana: In a major development, BAT announced a partnership with Solana to integrate its high-performance public blockchain into the Brave browser. This partnership will allow Brave users to access Solana ecosystem support and Solana native dApps. The integration will bring the best-in-class features of Solana’s wallet into the BAT ecosystem as part of the BAT 2.0 Roadmap.

• BAT Ecosystem Roles and Utility: The BAT ecosystem includes users, publishers, creators, and advertisers. Users can tip content providers with BAT tokens, and creators can earn revenue directly from the audience. Advertisers can start advertising campaigns and get discounts if they purchase campaigns using BAT tokens. Various ad formats are available, including search, newsfeed, and notification ads.

• Tokenomics and Earning BAT: The distribution of BAT tokens allocated 66.67% to investors, 13.33% to Brave, and 20.00% to the user growth pool. Users can earn BAT by viewing ads recommended by Brave or by receiving tips as content creators.

• Future Projects and Roadmap: While there have been no recent specific roadmaps for BAT, the Brave browser continuously updates with new features. One of the recent features is Leo, a native AI assistant. The token has a history of successful ICOs and a talented team led by Brendan Eich, focusing on enhancing the advertising economy within the web and providing a better browsing experience.

• Market Performance and Community Engagement: BAT has experienced significant price movements in 2023 and has a growing community of users and holders. The token has a market cap of approximately $363,530,843, ranking it #128 in terms of market capitalization.

These developments in 2023 reflect BAT’s commitment to enhancing its platform and ecosystem, focusing on user privacy, advertising efficiency, and expanding its reach in the Web3 domain​​​​.

Official website: https://basicattentiontoken.org/

Best cryptocurrency wallet for Basic Attention Token (BAT)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Basic Attention Token (BAT)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).