What is BAT or Basic Attention Token – Beginner’s guide

Last updated on October 24, 2019

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What is BAT token - Basic attention token

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

The BAT 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The revolutionary BAT ecosystem tries to solve an issues in current outdated digital advertising.

What is Basic Attention Token (or BAT)

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 the 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.

BAT

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.

Users don’t receive any revenue and publisher receive a penny of the advertiser’s revenue where 73% of ads revenue cut 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?

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

BAT project first stage consists of the Brave browser which is blocking the ads, trackers, unwanted content and adding the ledger system that will accurately measure the user’s attention anonymously and privately to reward its partners accordingly.

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

BAT token stats

TickerBAT
Max supplyNo data
Total supply 1,500,000,000 BAT
Circulation supply 1,274,575,522 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 internet browser designed for block ads, trackers, and malware 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 and Brave browser 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 that.

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 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.

How BAT platform private advertisement works?

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.

What is BAT token - brave private ads

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, 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 well to come guide, click the Brave icon at the right side in the address bar.

join brave rewards

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.

What is BAT token - brave rewards

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

Enabling the brave ads

brave ads

Enabling the Auto-contribute

brave auto contribute

Brave tipping for favorite content creators

What is BAT token - brave tip

How to send Brave tip for the favorite content creator?

You can send Tips for your favorite content creator’s website through the browser who sign up and 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.

What is BAT token - tip

Recently, users can send tips to twitter influencers and tweeters through the tweets where 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.

How Can I fund my wallet?

There are three option to fund a wallet,

What is BAT token - wallet fund

01. Buy BAT coin and send it to your wallet also, you can send Bitcoin, Ethereum, Litecoin to fund your wallet where Cryptocurrency to BAT coin exchange is done by the Uphold and particular address display under the Add fund section. If you want to Buy BAT coin scroll down and refer the How to buy BAT coin using Coinbase.

02.Viewing the Brave private ads

03. Occasanality Brave will grant free BAT coin for you

Is it worth to Invest BAT coin in 2019 – 5 top reasons

There are so many worths to invest factors include 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 Coinbase, DuckduckGo search engine, etc.

Where to buy BAT token using a Credit card, 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 few other popular cryptocurrencies.

You can use credit/debit cards, personal bank account to buy BAT token right way.

3 simple steps to buy BAT at Coinbase

01. Coinbase registration– Let’s go to the Coinbase website, register for a new account. There are some steps which verify the email and phone number, submitting ID card photo which can be one of ID card, Passport, driving license, etc.

02. Add funds – After all the above things are 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.

03. Buy the BAT token – let’s head over to 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 you BAT token in Coinbase wallet you can do it.

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

What is BAT token - coinbase earn

The alternative to Coinbase, you can buy BAT token Bitpanda exchange using a Credit card, Bank transfer, Skrill, Netteler which supports Europe countries and the US, Canada many.

How to buy BAT using Bitcoin?

There are a lot of exchanges to buy BAT using 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 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 wallets to store the BAT?

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

If you are going to hold a long term basis, you need to find something new ERC 20 wallet which is popular, secure easy to the wallet. Let’s find out what are the recommended ERC 20 wallet which can be used,

 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

In this article consists of what is BAT token, How BAT platform solved the current digital marketing challenges, Brave browser features, investing opportunities, where to buy BAT token, which are best wallets to store BAT token, etc.


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