The cryptocurrency sphere is much more than just Bitcoin. There are numerous other coins in the crypto sphere. Bitcoin and its offshoots are engaged primarily in transferring funds or making faster payments.
However, many Ethereum blockchain-based coins and cryptos have been specifically made to serve as a platform for coding. Basic Attention Token is one such crypto coin.
Here is a complete guide on BAT.
What is a BAT coin?
Basic Attention Token (BAT) is the native utility token of the Brave browser. It was the creation of two software engineers, Brandon Eich and Brian Bondy. The motive behind creating this coin was to improve the security, fairness and efficiency of digital advertising through blockchain technology.
This coin is an ERC-20 token based on the Ethereum blockchain. Made for specific uses, this crypto falls under the “utility tokens” category. It offers a unique advertisem*nt revenue model that preserves your privacy and freedom of choice while using the Brave browser.
Let’s understand the concept behind this browser better for you to understand the utility of BAT coins clearly.
About Brave browser and how BAT works
Based on Chromium, the open-source version of Google Chrome, the Brave browser provides an ad-free experience to its users. Its built-in “shields” block most ads and tracking cookies. Meanwhile, it also provides the rightful money to the content creators and websites via BAT coins.
While browsing, you will periodically see ads in the form of push notifications. It will contain a snippet of the advertisem*nt, and you can decide whether or not to click and view the full ad.
The advertiser gets BAT coins as a reward if you click on the ad. It is then deposited in an Uphold crypto wallet. On the other hand, you will get tokens too for investing your time and attention in them.
If you enjoy a website’s content, you can tip them using BAT coins. The tipping can be done manually (one at a time) or automatically if you decide to contribute a set amount of BAT coins.
For example, you liked the video of a YouTube content creator or a Twitch streamer. You can tip them using BAT coins to show appreciation for their work. You can also do the same for content creators on Twitter.
Brave and BAT believe that the free ads we see on normal browsers are not free. For you, it costs your attention, time and energy. This browser is built around the concept of privacy and blocks trackers that track your online browsing activity.
The Brave browser also claims not to collect your private data while browsing. However, if you sign up for “Brave Rewards”, it will track on your local device storage the time you spend on your visited sites.
To enable Brave Ads, you may do the following:
- Open the Brave browser and go to the “Settings” option
- Click on “Brave Rewards”
- Toggle on “Brave Private Ads”
- Select the number of ads you want to receive per hour
You can earn an average of 3-4 BAT tokens per month with normal use. However, if you want to earn more, you have it use it for at least 8 hours regularly. Then you may expect 5-7 BAT per month.
You can speed up your earnings in Brave by following the methods mentioned below:
- Setting the Ads per hour to 10
- Making Brave your default browser
- Using it on your phone and tablet
- Turning off the Auto-contribute feature
- By enabling Show Sponsored Images
- Enabling Brave News and scrolling through it now and then
- Clicking on the ads in Brave News
Earning BAT through the Brave Creators programme
Apart from watching ads, you can earn BAT tokens from the Brave Creators program. If you are a content creator looking to get your work published, this can be a good opportunity to get genuine exposure and even rewards from your readers if they like your work.
You can enrol yourself in the Brave Creators program by following the given steps:
- Go to Brave Creator
- Sign up by entering your e-mail
- Upon receiving the authorising e-mail, verify your account
- Add your channel and link your wallet
- Select your platform, enter your username and verify it
Now, you are good to go. If the reader or viewer likes your content, they can send you tips in the form of BAT coins which will go to your linked crypto wallet.
Should you invest in BAT?
The Bat token reached its all-time high of $1.76 in late November 2021. With a total supply of 1.50 billion, the exchange rate is set at 6,400 BAT per ETH. Hence, when the price of Ether rises or falls, the value of BAT coins adjusts proportionally.
Being a cryptocurrency, its value remains volatile, but you can always change it to another crypto based on your investment strategy.
You can invest in BAT only after you have done the necessary research. You are good to go if the crypto aligns with your investment goal or risk appetite.
How and where can you buy or sell BAT?
You don’t need a crypto exchange to buy BAT. You can easily get BAT coins from the Brave browser by clicking on ads. However, this can be a slow process for those planning to get more coins. In that case, you need to get an exchange involved.
Here’s how you can buy BAT coins from various crypto exchanges of the world:
- Select a crypto exchange that offers BAT trading and create your account
- Once done, you can deposit BTC or any fiat currency
- Now, buy BAT coins from the exchange
After buying the tokens, you might move them into a hard wallet from the exchange for safety. If you wish to sell the BAT, do remember that you need to pay a 30% tax and a 1% TDS on the profit arising from selling the crypto.
The future of browsing
The Brave browser’s way of using crypto (BAT coin in this case) to help content creators and optimise user experience is truly one of a kind. It uses blockchain technology to anonymously and securely track user information, maintaining a high level of security while providing a personalised advertisem*nt experience.
This, in turn, leads to better content generation by the creators. Advertisers can get a better return on investment in such a model as they get to know exactly what people are looking for. Brave also uses anonymous user attention data to assist advertisers with targeting and fraud reduction.
Final word
BAT coin shows how a cryptocurrency can change how we browse and view advertisem*nts. Its genius implementation by the people at Brave has launched a new way for searchers, content creators and advertisers to co-exist peacefully.
Before investing, conduct your research from a credible source and chalk out a sound investment strategy. Keeping yourself informed of the latest market trends always helps in such matters.
