Decentralized digital advertising has become possible with the help of Basic Attention Token (BAT). BAT’s popularity has also prompted many beginners to ask interesting questions like “how to buy Basic Attention Token (BAT)” and “where to buy BAT.”
If you want to utilize the effectiveness of BAT but don’t know where to start, you can learn a lot from this article. We will cover the essential steps of buying BAT, as well as some important topics about the token.
Basic Attention Token (BAT) Buying Guide
Step 1: Find An Exchange That Supports BAT
To start buying BAT, you must create an account in a compatible crypto exchange. Finding this exchange is easy because there are numerous active marketplaces that support Basic Attention Token (BAT).
Cryptocurrency platforms may be similar in purposes but different in operation. Some crypto exchanges have seamless functionality while others have premium security with reasonable transaction fees.
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Registering to a crypto exchange will take only a few minutes. To start, you must enter your basic personal details like full name, email address, and password. The crypto exchange may also require you to add a home address and a phone number for verification.
You probably need to fill up a KYC (Know Your Customer) form before proceeding with any transaction. The KYC process is a security option implemented by heavily regulated exchanges and financial websites.
Step 2: Deposit Funds to Your Exchange Account
Before buying BAT, you must add funds to your new crypto account. Depositing funds is easy because most exchanges allow crypto-to-fiat transactions. Some of the popular examples of fiat currency are USD, CAD, AUD, and EUR. You can fund your account through debit cards, credit cards, bank transfers, and e-wallet transfers.
Crypto exchanges have different payment methods for transactions. These methods probably have higher fees than the ones you’re commonly using. So, before depositing funds to your crypto account, you should do your own research.
Step 3: How to Buy BAT Officially?
Learning how to buy BAT is not difficult. First, you must go to a crypto exchange’s search bar. Oftentimes, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for the BAT ticker. You can also look directly for BAT trading pairs to save time. Afterwards, just enter the amount of the BAT tokens that you want to buy.
You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, before the transaction, crypto exchanges might refer you to their exclusive wallet software. This wallet is essential for storing your cryptocurrencies, but it is optional since you can always create an individual software wallet. If you have money to spare, you can even purchase a hardware wallet with competitive security encryption.
Everything You Have to Know About Basic Attention Token (BAT)
The Basic Attention Token is a type of cryptocurrency that supports the framework of a blockchain-centric digital advertising platform. This platform also connects to thousands of users through the privacy-focused Brave browser, ensuring better security while browsing.
One of the goals of the Basic Attention Token is to utilize attention as a currency and incentivize users while they are watching ads. In the current advertising model, users are often bombarded with unnecessary ads, so they had to rely on ad-blockers and other unsecured methods. Consequently, advertisers also suffer because they have to spend too much money just to receive poor insights. And lastly, publishers are also affected because they couldn’t reach their target audience effectively.
Through the Brave browser, users can browse the Internet regularly without worrying about data breaches and security problems. If a user is connected to the BAT network, he or she will gain continuous rewards while watching privacy-preserving ads. Advertisers can also use the insights from users (with consent) to deliver more effective ads.
The tokens in the BAT platform are distributed among everyday users, advertisers, and publishers. Advertisers can pay BAT tokens to utilize the BAT platform, effectively cutting off the middleman from the traditional advertising scene.
How Does BAT Work?
BAT, the primary token of the BAT platform, is situated at the core of BAT’s blockchain advertising framework. The token serves as the core resource that everyone can use.
BAT can be used in the following ways:
- Advertisers pay BAT to launch their campaigns within the network.
- Publishers receive BAT if viewers watch their ads. They can also receive BAT donations from users.
- Users are incentivized with BAT as they view ads on the platform.
What Makes Basic Attention Token (BAT) Unique?
The Basic Attention Token (BAT) is unique because it managed to create a simple ecosystem that truly benefits every participant. Regular users can browse safely through the Brave browser, advertisers can deliver effective ads, and publishers (or content creators) can make wonderful content without paying hefty fees. Such a model is truly better than regular digital advertising.
Who Are the Founders of Basic Attention Token?
The Founders of Basic Attention Token are Brendon Eich and Brian Bondy. Eich is the CEO of the Brave Browser, while Bondy is the official CTO of BAT. These individuals have collective experience with programming and software development.
What Are the Use Cases of Basic Attention Token (BAT)?
BAT has numerous use cases related to digital advertising, safe browsing, and token utilization. Understanding these use cases will help you realize the potential benefits of the Basic Attention Token.
Here are the use cases of BAT:
- Payments for services
- Rewarding system
- Better insight generation for advertisers
- Passive rewards for viewers or Brave users
- BAT loaning and deposits
Who Builds on Basic Attention Token (BAT)?
The Basic Attention Token is meant for publishers, advertisers, and regular readers who care about online privacy and fair earning of rewards. Since digital advertising money is fairly distributed within the BAT network, every member will be rewarded by using the platform.
Official website: https://basicattentiontoken.org/
Essential Points of the Basic Attention Token (BAT) Whitepaper
The Basic Attention Token Whitepaper introduced the concept of a digital advertising system powered by blockchain. This system is supported by several mechanisms like diverse token usage and better advertisement features.
These are the strong points of the Basic Attention Token (BAT) Whitepaper:
- Emphasis on solving the problem of digital advertising
- BAT tokenomics and payments
- BAT primary advantages
- Brave browser integration
- BAT roadmap
The Best Cryptocurrency Wallet for BAT
After knowing how to buy BAT, you should think about the security of your cryptos next. Fortunately, you can always choose from dozens of available crypto wallets. You should pick a crypto wallet based on your trading habits and security preferences.
You will likely begin your crypto journey with hot storage wallets. These digital wallets are connected online, allowing easy access whenever you want. Hot storage wallets are also cheaper than cold storage wallets. However, one downside of a hot wallet is its vulnerability to online theft. You may need to use additional security measures to keep your hot storage wallet safe.
On the other hand, cold storage wallets are physical hardware wallets. Since cold wallets are tangible, their security level is better than digital wallets. You can put a physical storage wallet in a separate deposit box for premium protection.
What Factors Affect My Choice of Crypto Wallet for BAT?
At first, you might get confused with the diverse choices of crypto wallets in the market today. Knowing the common buying factors for crypto wallets will help you make the right decision.
Check out the important factors affecting your choice of BAT wallet:
- Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick and easy log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade BAT right away.
- Not all wallets support a wide range of cryptocurrencies. The best crypto wallets are those that will let you trade hundreds of cryptocurrencies without limitations.
- When it comes to security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is safe and secured.
- Setting up a digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
- Do you want to see detailed technical analytics? In that case, you can never go wrong with hot wallets. In most cases, hot wallets generate technical analytics and semi-accurate market insights to help you make a trading decision. Cold wallets also have analytics capabilities that you can tweak freely.
Ledger vs. Trezor – The Best Crypto Wallet for Traders and Investors
Now that you already know how to buy BAT, you must protect your investment by choosing a cold storage wallet. As mentioned above, cold wallets offer better security levels than hot wallets.
When it comes to cold storage wallets, it’s best to start with Ledger or Trezor products.
Ledger is a popular cold wallet brand because of its reliable security features. The Ledger interface, for example, will only let you send cryptos if you’re connected to a personal computer or device.
If Ledger excels in security functions, Trezor wins in terms of intuitiveness and compatibility. Trezor’s interface is beginner-friendly, allowing fast and efficient trades once the device is ready. Trezor products are also compact and appealing to the eyes.
General Market Overview for Basic Attention Token (BAT)
Do you want to learn more about Basic Attention Token (BAT) and other crypto coins? Check out our crypto blog and expand your knowledge about cryptocurrencies!
Additionally, here are some important topics in our blog:
- Trading speculation about Basic Attention Token (BAT)
- The current market prices of cryptos
- Detailed price charts with comprehensive histories
- Whitepaper summaries of cryptos
- Founder profiles and their related works
- Up-to-date cryptocurrency news and developments