BAT

Overview of BAT

The Basic Attention Token (BAT) is a type of DeFi cryptocurrency that was founded in 2017 by Brendan Eich and Brian Bondy. BAT is named after its focus on the digital advertising industry, aiming to address issues of fraud and privacy within this field. Built on the Ethereum blockchain, BAT tokens can be exchanged on various major platforms including Binance, CoinBase Pro, and Kraken. As an ERC20 token, BAT can be stored in a variety of wallets that support this standard, such as MetaMask and Ledger.

Pros and Cons

Crypto Wallet

Brave Browser's crypto wallet is offical wallet,here are some features and download methods of the Brave Browser's crypto wallet:

Features:

Easy-to-use interface: The Brave Browser's crypto wallet has a simple and user-friendly interface, making it easy for beginners to use.

Integrated browser: The Brave Browser is integrated with the crypto wallet, allowing users to seamlessly access and manage their crypto assets while surfing the web.

Security: The Brave Browser's crypto wallet uses industry-leading security measures to protect user's funds and data. Users can control their private keys and perform secure transactions.

Supported coins: The Brave Browser's crypto wallet supports a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and many more.

Download methods:

Visit the official website: Users can visit the official website at https://brave.com/zh/walletto download the latest version of the Brave Browser's crypto wallet.

Select your operating system: The website provides download links for different operating systems, including Windows, macOS, Linux, and Android. Users can select the appropriate link for their devices.

Save and install: Click the download link to save the installer file onto your device. Then follow the on-screen instructions to complete the installation process.

Create a new account or import existing: After installation, the Brave Browser will guide you through the setup process, where you can create a new account or import existing cryptocurrency wallets.

What makes BAT Unique？

The Basic Attention Token (BAT) sets itself apart from other cryptocurrencies primarily through its purposeful approach to addressing the challenges within the digital advertising industry. BAT is more than just a cryptocurrency; it's an integral part of a broader ecosystem designed to create a more equitable and efficient digital advertisement model.

Its unique innovation lies in its way of directly linking users, advertisers, and publishers in an ad ecosystem, where BAT tokens are exchanged for user attention. This stands in contrast to traditional ad systems where user data is often tracked without consent and users aren't rewarded for their attention.

How Does BAT Work？

The Basic Attention Token (BAT) operates quite differently from classic cryptocurrencies like Bitcoin, especially regarding its creation and distribution. Unlike Bitcoin, BAT isn't mined and doesn't require specific mining software, specialized mining equipment, or high computational power.

Instead, BAT operates on the Ethereum platform as an ERC-20 token. Its total supply of 1.5 billion tokens was created all at once during the Initial Coin Offering (ICO) in May 2017. During this period, one billion tokens were sold to investors, while the remaining half billion was set aside for user growth and development pool.

The working principle of BAT revolves around the Brave browser and its digital advertising platform. Advertisers purchase ads with BAT tokens, and these tokens are then distributed among users who choose to view the ads. More specifically, 70% of the ad revenue is distributed to users while the remaining 30% goes to Brave. Users can subsequently use these tokens within the Brave ecosystem to tip content creators or keep them if they wish.

Exchanges to Buy BAT

Basic Attention Token (BAT) is traded on a number of well-known cryptocurrency exchanges. Some of the major exchanges where you can buy BAT include:

1.Binance: A leading cryptocurrency exchange that provides a platform for buying and selling numerous cryptocurrencies. It offers trading pairs with BAT and other popular cryptocurrencies.

To purchase Basic Attention Tokens (BAT) on Binance, follow these steps:

Create a Binance account: If you haven't already, create an account on Binance by visiting their website and entering your email address and creating a password.

Verify your account: Binance requires account verification to ensure the security of its users. Provide your name, email, and other requested personal details to complete the verification process.

Fund your account: You'll need to deposit some cryptocurrency into your Binance account to purchase BAT. You can deposit Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), or any other cryptocurrency supported by Binance.

Find the BAT market: Use the search bar on the Binance homepage to find the market for BAT. Type “BAT” into the search bar and select the “Basic Attention Token” market from the dropdown menu.

Choose your payment method: On the BAT market page, you'll see different payment options available for purchasing BAT. You can use Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), or any other supported cryptocurrency. Select the payment method you want to use.

Place your order: Enter the amount of BAT you want to purchase and select the appropriate order type (limit or market order). Confirm the order details and proceed with the purchase.

Wait for the transaction to be confirmed: Once you've placed your order, wait for the transaction to be confirmed on the blockchain. This process can take a few minutes, depending on the network congestion and transaction fee you selected.

Withdraw your BAT to your Ethereumwallet: Once the transaction is confirmed, you can withdraw your newly purchased BAT to your Ethereumwallet using the Binance platform. Navigate to the “Assets” tab in your Binance account and click on “Withdrawals.” Enter the amount of BAT you want to withdraw and provide the receiving address from your Ethereumwallet. Submit the withdrawal request to complete the process.

Please note that you must have an Ethereumwallet to store your BAT tokens. If you don't have an Ethereumwallet yet, you can create one using services like MyEtherWallet or MetaMask. Additionally, make sure to conduct thorough research and understand the risks associated with cryptocurrency transactions before making any investments.

2. CoinBase Pro: Known for its user-friendly interface and a wide array of cryptocurrencies, it supports BAT trading. CoinBase Pro is a popular choice among both novice and experienced traders.

To purchase Basic Attention Tokens (BAT) on Coinbase, follow these steps:

Open the Coinbase app or visit the website and log in to your account.

Click on the “Wallet” tab in the navigation menu.

Select the “ BAT” tab from the list of available tokens.

Click on the “Buy” button, which will take you to the payment screen.

Choose your preferred payment method - either debit card, bank account, or crypto.

Enter the amount of BAT you want to buy or the amount of your local currency you want to spend, and confirm the transaction details.

Verify your identity and complete the verification process if requested.

Once the transaction is confirmed, your BAT tokens will be added to your Coinbase account.

Note: Before purchasing BAT tokens, make sure you understand the risks associated with crypto investments and have a basic knowledge of blockchain technology. It is recommended that you perform a comprehensive research and seek professional advice if necessary.

3. Kraken: This exchange offers various fiat-to-crypto trading pairs, including BAT with the Euro and U.S. Dollar, making it easier for users to purchase BAT directly with traditional currencies.

4. Huobi: An international cryptocurrency exchange that offers BAT amongst its extensive list of tradable tokens.

5. Bitfinex: This platform offers advanced trading features and several cryptocurrencies, including BAT for trading.

How to Store BAT？

Basic Attention Tokens (BAT) are based on Ethereum's ERC-20 standard, which means they can be stored in any wallet that supports this standard. The types of wallets that generally support BAT and other ERC-20 tokens include:

1. Software Wallets: These are programs that can be installed on a desktop or mobile device. Examples of software wallets that support BAT include MyEtherWallet, MetaMask, and Trust Wallet. Software wallets can be convenient for regular transactions but may be less secure than other wallet types as they can potentially be vulnerable to software attacks or device theft.

2. Hardware Wallets: These are physical devices designed to securely hold cryptocurrency offline, a method also referred to as 'cold storage'. It's considered one of the safest ways to store cryptocurrencies. Ledger and Trezor are widely recognized hardware wallets that support BAT.

Is It Safe？

Here is a summary of the security measures and transfer address of Basic Attention Token (BAT) tokens:

Security Measures

Basic Attention Token (BAT) is an ERC-20 token, which means it inherits the security of the Ethereum blockchain. The Ethereum blockchain is one of the most secure blockchains in the world, and it is very difficult to hack. Additionally, Brave, the browser that powers BAT, has implemented a number of security measures to protect user funds, including:

Secure storage: BAT tokens are stored in a secure enclave on the user's device, which is a hardware-based security module that protects them from unauthorized access.

Private key encryption: Private keys, which are used to access BAT tokens, are encrypted using AES-256 encryption, a strong encryption standard.

Secure communication: All communication between Brave and the BAT network is encrypted using TLS, a secure transport protocol.

Transfer Address

The transfer address for BAT tokens is its native token address on the Ethereum blockchain, which is 0x350a194e7e5c757c57bfc8937f275c21555c9f3f. You can use any wallet that supports ERC-20 tokens to transfer BAT tokens.

How to Earn BAT tokens？

Here are the primary methods to earn Basic Attention Token (BAT) tokens:

Using Brave Browser: The most straightforward way to earn BAT is by using the Brave Browser. Brave is a privacy-focused browser that rewards users with BAT when they view ads. Users can choose to opt into Brave Rewards and receive BAT tokens in exchange for viewing non-intrusive ads. The amount of BAT earned depends on the frequency and type of ads viewed.

Content creation: Brave also allows content creators, such as websites and social media influencers, to monetize their content by accepting BAT donations from their audience. Content creators can create BAT-enabled tipping buttons on their platforms to receive BAT contributions from their supporters.

Providing liquidity: Users can earn BAT tokens by providing liquidity to decentralized exchanges (DEXs) that support BAT trading. Liquidity providers contribute their BAT tokens to DEX pools, allowing traders to swap BAT with other cryptocurrencies. In return, liquidity providers receive a portion of the trading fees generated by the pool.