Basic Attention Token (BAT) is an Ethereum-based cryptocurrency that creates a transparent and decentralized advertising experience while benefiting users, publishers, and advertisers. Basic Attention Token is a digital innovation that aims to revolutionize the $330 billion digital advertising industry by creating a blockchain-based digital advertising exchange that eliminates any chance of fraud.
This article is designed to teach you everything you need to know about the project and how to purchase a basic attention token. Read on to find out more.
The reason for the best available technology
The Basic Attention Token forms part of the Brave ecosystem of collaborative technologies and is an innovative approach to problem solving in the digital advertising industry. BAT creators see the current trends of data privacy breaches, the growth of malware outbreaks, and the increasing demand for data and battery life as detrimental to users, publishers and advertisers alike.
They believe that the Brave browser that connects publishers, advertisers and users in a mutually beneficial system solves all problems. As a result, users benefit from increased privacy, independence, advertising relevance, and the ability to earn BAT for surfing the Internet. Publishers find new revenue sources, and advertisers get less expensive customer attention based on the preferences and interests of documented user content. They can also avoid fraud more efficiently.
What is the Basic Attention Token (BAT)
Brendan Eich and Brian Bundy are co-founders of Basic Attention Token (BAT). Their goal was to improve the security, fairness, and efficiency of digital advertising through blockchain technology. Brendan Eich is also the co-founder of Mozilla and Firefox and the founder of JavaScript. Brian Bundy is also a key figure in the development of Khan Academy, Mozilla and Evernote.
Brave Browser is based on BAT and is an open source, privacy-focused desktop browser that automatically blocks third-party ads and tracking. In 2019, Brave introduced Brave Rewards, a subscription feature that gives users Basic Attention Tokens (BAT) to view and interact with ads.
BAT is the original token of the Brave web browser and is an ERC-20 token that uses smart contracts to confirm user attention – allowing advertisers to verify both target audience and user engagement without infringing on privacy.
As of September 23, 2021, there are 36.2 million monthly active users and 12.5 million daily users of the Brave browser.
How does the Basic Attention Token (BAT) work?
Brave is an open source privacy-focused browser designed to block all unnecessary ads, trackers, invasive cookies, and malware by default with Brave Shields. It also anonymously and securely tracks the user’s attention through the built-in ledger system to improve the ads experience for the users. This is done by calculating the amount of time each ad can be shown to the user and the number of pixels they can see.
Digital ad publishers are rewarded for user interest in the primary attention token. Brave matches content with truly relevant advertisers, while feedback mechanisms ensure that users receive ads for products they are most likely to buy. All this data is encrypted and stored on the device only, and Brave protects the identities of its users.
Brave also uses anonymous user attention data to help advertisers target and reduce fraud.
BAT is the digital currency associated with the value of attention, which is calculated based on both the incremental duration and pixels in width of any relevant advertising content.
Anyone using the browser can turn on the Brave Ads feature to get paid in the basic attention token for the time they show ads. They can also turn on the Brave Rewards feature that will automatically split their chosen monthly contribution to a BAT token among the sites they visit according to the time they spend on each.
Users can also tip their favorite creators directly, either through the browser’s reward panel or by clicking the hint button next to the URL bar on sites like YouTube, Twitter, and Reddit.
How BAT is distributed
The base attention token has a total supply of 1.5 billion BAT tokens, almost all of which are currently in circulation. One billion BAT tokens were sold to investors in the ICO 2017. The remaining 200 million tokens went to the development pool. The final 300 million BAT tokens are reserved for the User Growth Group to incentivize participation in the BAT ecosystem and reward early adopters.
The primary interest symbol is an exchange unit. It can provide an essential source of income for content creators and a means of payment for effective advertising campaigns for advertisers.
Users who choose to advertise on the Brave platform receive a small portion of the attention tokens distributed for their interest. They can use the best available technology to sell, tip publishers, buy Brave premium services, etc. Advertisers push BAT to get users’ attention. Publishers earn the majority of BAT participating in the deal.
Every month, BAT is transferred directly to either Brave Wallet or other Ethereum compatible wallets. Users receive 70% of the tokens they earn, and the rest is split between the advertiser and Brave.
The decentralized “Brave Payments” and “Brave-Micropayment Ledger” provide additional browser functionality for cryptocurrencies. It enables Brave-Browser users to directly support creators with BAT donations by pressing a button in a YouTube video or tweet. Creators with a verified Uphold account can convert the BAT into a legal order and have it transferred to their bank account.
As more users opt for the Brave browsing experience, they will need to purchase the Basic Attention Token. This may increase the price of the underlying Attention Token and the market capitalization in the future.
How to buy Basic Attention Token (BAT)
To purchase the basic alert code, follow these steps:
- Open an account online. You will have to create an account and sign up with a broker to purchase BAT. Since BAT was only launched in 2017, not all exchanges or brokers will allow you to trade BAT. Make sure to choose a well-known broker to reduce the chances of fraud. It would be helpful if you also check that the payment methods are secure on the platform. Note that transaction fees vary from broker to broker.
- Purchasing an e-wallet (optional). You will need to set up a crypto wallet that can store your public and private keys. Your e-wallet can interact directly with many cryptocurrency exchanges and allow you to send and receive digital currencies. There are several types of digital wallets you can choose from – desktop wallet, mobile wallet, web wallet, paper wallet, and hardware wallet.
Make the purchase. To purchase BAT, you must deposit funds into your trading account by bank transfer and/or credit or debit card. It is crucial to go through the list of available cryptocurrencies offered by online brokers before you start trading. BAT is available on Kraken, CoinStats, Binance, and Coinbase. You should also compare the price and commission fees of BAT on different platforms before you start trading.
How to Buy Basic Attention Token on CoinStats
The primary attention token can currently be traded on CoinStats. It is recommended to use the link https://coinstas.app/blog/ for additional tips on cryptocurrency trading.
To buy BAT on CoinStats, all you have to do is create an account and start trading. Credit card payment options are currently only available to users in the United States.
How to get the basic attention token for free
Basic Attention code shares 70% of advertising revenue with users. All you have to do is download Brave Browser, enable “Brave Ads” within the browser, and get notifications about ads to earn BAT for free while surfing the web.
You can also earn BAT by claiming random tokens worth 25-40 baht. Enable “Brave Rewards” to be eligible for potential token grants. A notification will appear on the rewards icon when the grant is available.
Follow our step-by-step guide on how to get the BAT below:
Step 1: Download and install Brave Browser. Brave Ads is currently available on the desktop app.
Step 2: Launch the browser and click on the primary interest icon logo.
Step 3: Press Join the rewards.
Step 4: Go to Brave: // bonuses // And make sure of it Brave Ads running.
Step 5: Offers will be presented to you in the form of notifications. Interact with notifications, view ads, and you will earn 70% revenue share from the displayed ad.
Step 6: At the end of your Brave Rewards monthly cycle, you can claim your accumulated tokens. Soon you will be able to convert BAT into fiat currency through cryptocurrency exchange platforms.
Please note that Brave Ads is geographically limited to the following countries: United States, United Kingdom, Canada, Germany and France. More geographies will be available soon.
conclusion
Brave Browser has a unique ledger system and shields to measure user attention. It also loads pages faster than its competitors by blocking ads and trackers.
The primary attention token creates an efficient new marketplace, providing excellent opportunities for advertisers to reach high-value customers. It also gives users a share of ad revenue and the ability to direct their favorite content creators.
BAT has over 1 million verified content creators who sign up for BAT Rewards.
Over 400 advertisers are part of the primary attention token ecosystem, and Brave Browser has reached 25.4 million monthly active users and 9.2 million daily active users.