What is BAT Token or Basic Attention Token – 4 Things to Know?

BAT token
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What is BAT token

In this article, I’m going to explain, what is BAT token or Basic Attention Token ecosystem, What is Brave browser, Brave rewards, and many related features.

Basic Attention Token is a blockchain-based, decentralized, digital advertising ecosystem including Brave browser and BAT token.

There are a lot of issues involving the current digital advertising industry such as user’s privacy, tracking the user’s data by third parties, ad spamming, low page speed due to ads and trackers, etc.

The revolutionary BAT ecosystem tries to solve issues in current outdated digital advertising. Let’s learn more about the BAT ecosystem.

What is BAT token or Basic Attention Token ?

Basic Attention Token consists of an attention-based digital advertising ecosystem on Ethereum blockchain where attention measures through inbuilt ledger system and compensating the users the unit of BAT token. 

The BAT token is ERC 20 token and it has many use cases such as rewarding the users for viewing ads, BAT tipping for user’s favorite content creators, advertiser’s ad payments, etc.

Basic Attention Token platform is founded by Brendan Eich who is the co-founder of the Firefox browser, and the Creator of JavaScript. BAT radically improves digital advertising creating a new token that is exchanged with users, publishers, and advertisers.

There partners BAT ecosystem

Major problems in traditional advertising networks

The main components of the digital advertising platform are users, publishers, and advertisers. Current digital advertising platforms hurt their users, publishers, and advertisers in many ways.

Users don’t receive any revenue and publisher receive a penny of the advertiser’s revenue where 73% of ads revenue cut by the middle man such as Google and Facebook.

When considering the publishers, intends down 66% of revenue because users are running ad blockers, irrelevant ad showing, un-authorized bots, and frauds, etc.

Users intend to 50% of Data cost for ads and trackers, decreasing page speed, ads take 23% of phone battery life, violating user’s privacy.

BAT ecosystem is going to solve these traditional digital advertising issues with blockchain technology implementing a new kind of ecosystem.

Is the BAT ecosystem solving the current digital advertising issues?

Probably yes, they have a better solution which is decentralized, anonymous, transparent ad exchange based on blockchain technology. Mainly there are two stages,

First stage – Brave browser

The first stage is a Brave browser that is a privacy-preserving web browser, in default it is blocking the ads, trackers, unwanted content.

The Brave web browser contains a ledger system that will accurately measure the user’s attention anonymously and privately to reward its partners accordingly.

Anyone can download the Brave browser who seriously consider their privacy and without owning any amount BAT tokens.

Second stage – Decentralized Ad exchange

In this stage, decentralized ad exchange will build using native currency, Basic Attention Token (or BAT token) where the token is used to exchange within ecosystem partners such as users, advertisers, publishers, and content creators, etc.

brave three parties

What is BAT token stat?

NameBasic Attention Token
TickerBAT
Max supplyNaN
Total supply 1,500,000,000 BAT
Circulation supply 1,457,527,137 BAT
Official website https://basicattentiontoken.org
All-Time High 0.9 USD
Block explorerEtherscan, Ethexplorer

What is Brave browser ?

Brave is an open-source, anonymous, secure, privacy centered web browser designed for block ads, trackers, and malware, in default which is available for desktop and mobile browsers such as Android and iOS.

There are so many new features coming such as ads and pop up blocking, inbuilt wallets with BAT token, reward systems including private ads rewarding, tipping, auto contribution, etc.

Anymore you don’t need to watch YouTube ads such as banner ads, video ads, etc in Brave browser that blocks the current all ads, trackers using Brave adblocking engine.

You won’t track the site to site by advertisers and browsing data never leave your computer. Brave supports open-source chrome extensions which are popular, remain you will use with the Brave web browser also.

Important features of the Brave browser

01. Page load speed – brave give much faster web browsing experience

Brave page load time comparison

02.Blocking Ads – Brave not allowed to download unwanted content

Brave blocking count

03.User privacy – Brave protect the privacy

04.Reward – Brave enable rewards for a favorite content creator

How does Brave reward works?

There are three types of Brave rewards which are,

  • Brave auto contributes – you can set a monthly reward for your favorite content creators
  • Brave tips – can send directly through the web browser for selected content creators privately and anonymously.
  • Brave private ads – ads represented on user interest which is taking from monitoring the browser behavior privately and anonymously but personal data are never leaving from the device.

What is BAT Token Private Advertisement?

Private ads do not replace traditional ads which contain trackers and privacy issues.

In a brave browser blocking the, all ads and trackers default but users can opt into rewarding private ads. These private ads show as Ad tabs that are matched to opportunities, and users become partners instead of targets and private ads show separately from the web browsing experience.

Here, ads on Windows and macOS Brave web browser

Brave private ads

Here is, how Brave ads show in Mobile phone as push notification,

Brave ads in Mobile phones

In case, users are able to view the private ads and get paid to their attention. 70% of ad revenue directly to the publishers and brave users from the Advertiser where the rest of revenue goes to the BAT team. Advertisers will receive the ad campaign data as a whole without exposing or identifying user’s data.

How to enable and customize the Brave rewards

Let’s go to the Brave website and click download, run the software.

When first visit the browser, you will see the welcome screen and work through the steps, etc. where you can import bookmarks and passwords from other web browsers that are already in use, change default search engine, color theme, change the protection shield, finally enable the brave rewards. 

If you don’t want that welcome guide, you are free to skip.

If you are not enabling the brave rewards in welcome work-through guide, click the Brave icon at the right side in the address bar.

On this screen, click the “Join rewards” button. Then, the browser automatically creates a Brave wallet for you where don’t forget to save your wallet backup phrase in a secure place clicking the wallet setting gear icon.

Brave rewards

Default enabled the brave rewards but if you want to disable that, click the “Reward setting” button.  As you can see, there is an option to enable and disable brave rewards.

What is BAT token - brave rewards

Here, you can enable the Brave Rewards on clicking the toggle button

Enabling Brave Rewards

Here, you can enable the private ad showing while you are browsing the internet.

Enabling Brave ads

Here. you can enable the Auto-Contribute tips for your favorite content creator daily or monthly basis

enabling Brave auto contribute

How to send Brave tip for your favorite content creator?

You can send Brave Tips for your favorite content creator through the Brave browser who sign up, verified, accepting BAT token tips.

If some content creator accepted the Brave tips, you can know that watching the BAT coin icon with a blue indicator right side of the address bar.

send Brave Tips

Recently, users can send tips to twitter influencers and tweeters through the tweets where a small BAT icon will display in tweets. Before sending the rewards, you need to verify whether the owner of the twitter signs up for twitter rewards.

Brave Tip in Twitter

How Can I fund my wallet?

There are three option to fund your Brave web wallet,

Brave wallet

01. Buy BAT coin from the third party exchange that supports BAT trading. Currently, you can buy BAT coin from the Coinbase, Cex.io, Binance exchange. Then, send that bought BAT coin into the Brave browser wallet.

02. Viewing the Brave private ads

03. Sometimes Brave will grant free BAT coin for your wallet

Is it worth to Invest BAT ecosystem in 2020 – 5 top reasons

There are so many worth to invest factors included in the BAT platform. Here are the most valuable factors,

Adblocking – No more YouTube ads, typical messy ads on websites where users are viewing. A huge amount of users is seeking a new browser to use because of messy typical ads, the solution is Brave.  

Reward Model – Users and Publishers will receive a 70% share of the advertiser’s revenue cutting of middle man and frauds.

Use of BAT coin – Entire BAT and Brave ecosystem use the native coin and It will increase the utility of BAT coin daily basis

Amazing BAT team – They have experience, industry expertise team leading the Brendon Eich who is the co-founder of Mozilla and Firefox, Creator of JavaScript programing language that will increase the confidence of investors.

Strong partnerships – Already they have strong partnerships with industry leaders such as HTC, Binance, Coinbase, DuckduckGo search engine, etc.

Exciting BAT partnerships

  • Binance – This partnership enables Brave web browser users to trade cryptocurrency assets through Binance
  • WayBack Machine – Now, users will redirect to an archived version of the page where “Page Not Found”404 Error occurred when Brave web browsing
  • HTC – Now, Brave is one of default browser in HTC phone maker
  • TAP Network – This partnership enables Brave desktop users to redeem Basic Attention Tokens (BAT) for real-world rewards offered by over 250,000 top brands and merchants in the TAP Network
  • Uphold – BAT tokens in the Brave wallet can be withdrawn into Uphold wallet and convert into other cryptos and fiat currency

How & Where to buy BAT with Credit Card or Bank Account?

You can use Coinbase cryptocurrency exchange which is regulated and based on the US. It is a beginner-friendly exchange you can buy BAT, Bitcoin, Ethereum, and a few other popular cryptocurrencies.

Here is alternative ways buy BAT with credit card,

How to buy BAT on Coinbase

Step 1. Create New Account on Coinbase

Let’s go to the Coinbase, then click “Get Started” in the top right corner and fill the Sign-up form correctly. After that, Coinbase will ask you to verify the Email and Phone Number.

Next, Coinbase will ask you to verify the identity, in case, you have to prepare a photo of ID card, Passport, and Driving Licence, and Selfie of yourself. Then upload the docs when it asks.

Step 2. Add Card or Bank Accoutn and Deposit Money

After the account registration and verification is done, you will be asked to add some USD, EUR for your Coinbase account. For that, you need to add either your credit/debit card, bank account.

Step 3. Buy the BAT Instantly

Let’s head over to the Buy/Sell section of the main menu. And then you can see BAT token and buy it according to your budget.

That’s it, let’s go to the wallet section and you will see the BAT you are purchased. If you like to store your BAT token in the Coinbase wallet you can do it.

Also, you can earn free 10$ worth of BAT token through Coinbase Earn program which is educating promising cryptocurrency projects. 

Earn free BAT via Coinbase earn

How to buy BAT with Bitcoin?

There are a lot of exchanges to buy BAT with Bitcoin, if you already have. If you don’t own a Bitcoin, then buy Bitcoin using Cex.io.

Also, there is a list of most trusted and popular cryptocurrency exchanges that engage to buy Bitcoin. After buying Bitcoin you can convert Bitcoin to BAT token using an exchange like Binance, Bittrex, and Poloniex.

 ExchnageSupported countriesInitial KYCWebsite
binanceBinanceGlobalNoTrade Now
BittrexBittrexGlobalYesTrade Now
PoloniexGlobalYesTrade Now

Best BAT wallets

The best option to store BAT token is native Brave browser wallet which is safe and secure if you are using BAT token for tipping and purchasing Brave Ads daily basis.

As you already now, BAT is ERC 20 token therefore, you can use any ERC 20 supported wallet out there. Try to get of the following wallet.

If you are holding a larger chunk of BAT, then try to buy a hardware wallet for additional security purposes. In case, you can buy Trezor or Ledger wallet.

 WalletTypePriceMulti-currency
support
Website
Trezor oneTrezor OneHardware69 EURYesVisit
Ledger Nano SLedger Nano S
Hardware59 USDYesVisit
MycryptoMyCryptoSoftwareFreeEther,
ERC 20
Visit
MetamaskMetamaskBrowser ExtensionFreeEther,
ERC 20
Visit
coinbaseCoinbase wallet
OnlineFreeYesVisit

Conclusion – What is BAT token

This article consists of a basic introduction to the Basic Attention Token ecosystem, and the privacy perceiving Brave web browser.

Also, you will know everything about the Brave reward, Brave wallet, and end of the article explains many ways to buy BAT token with a credit card and Bitcoin.

Other helpful readings,


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