What is Basic attention Token (BAT)?
Future of BAT Cryptocurrency and know how to buy BAT

What is Basic Attention Token (BAT)? 

#1 - What is BAT?

BAT: The Basics

Advertising may drive revenues for most internet businesses, but it’s also notoriously stuck to its age-old model ever since the birth of the internet. Advertisers pay publishers to show ads and pay based on the visibility. This has naturally led to a cat and mouse game of tracking users and their habits to show them the most relevant ads. BAT wants to change this.

BAT, or the Basic Attention Token, wants you, the user, to be paid for the ads they watch. In our current internet model, money changes hands between the advertiser and publishers only, leaving the users to gain nothing from being subjected to millions of ads. But that’s where BAT steps in.

BAT Development

BAT or Basic Attention Token are currency tokens that make use of the Ethereum blockchain technology and a Brave browser (a specialized web browser) as a platform to attain different advertising services.

Founded by the co-founder of Mozilla and Firefox, and JavaScript’s creator - Brendan Eich, BAT has been designed to be traded amongst users, advertisers, and publishers etc.

Its primary goal is to improve the competence of the digital advertising industry. In simple words:

  1. Advertisers complete transactions in $BAT in order to acquire advertising room and user attention.
  2. Publishers or content creators receive advert-revenue and user contributions in $BAT.
  3. Users are rewarded in $BAT for their attention.

That’s right. You, as a user, would be paid for the ads you watch.

 

#2 - BAT Technology and features

  1. Privacy: Every users’ browsing data (for instance, their browsing history) is kept completely private. This is because all information which is necessary for ad-matching does not leave the device. Moreover, third-party trackers are blocked automatically.
  2. Enhanced advertisement matching: The Brave browser has the complete collection of user data along with intent signals, active tabs, URLs, keyword search entry information, browsing information, etc. The platform, along with the Brave browser can also establish if users are in a favorable time and place in their browsing experience, in order to provide them with offers.
  3. Improved experience: Users need not have to reach out to external servers for every page load (for tracking scripts, pixels, etc.). This is because ad matching is performed locally. This helps in providing a quality browsing experience. This is in addition to good battery life, less data usage, little issues of disturbed content flow and fast browsing.

 

#3 - How to buy and store BAT?

The BAT token is an ERC20 token - which means it is powered by the Ethereum network and can be stored on all Ethereum supported wallets. These wallets include MyEtherWallet, a Ledger wallet, or even a Trezor - all of which you can use when buying from CoinSwitch - which aggregates all the exchanges that support BAT trading.

The BAT cryptocurrency can be purchased by:

  1. Funding a Brave wallet with BTC, ETH or LTC (an automatic conversion to $BAT takes place).
  2. Using credit or debit cards through the Brave wallet directly (pending launch).
  3. Buying BAT tokens via cryptocurrency exchanges.

Like any other cryptocurrency, the BAT coin can be stored in wallets (hot or cold storages). Storing your assets cryptocurrency exchanges, as any crypto enthusiast would tell you, is a bad idea. It’s always better to store your assets in your own private wallet.

With CoinSwitch,best cryptocurrency trading platform you do not rely on a separate wallet from the exchange to store your BAT coins. Instead, all transactions happen to and from your own personal private wallets benefits of which we’ve spoken about here earlier. CoinSwitch also aggregates prices from all major exchanges at one place, making it easier for you to make the most lucrative trade!

 

#4 - What is the future of BAT?

Trends so far

BAT opened at a price of $0.16 in June 2017, and quickly rose to a price of $0.8 in just 6 months - delivering its investors a five-fold return in that period.

During the market that followed later in 2018, the price dove down to below $0.2 before stabilizing around the $0.3-0.4 mark in the months that followed.

BAT price history

Date

Open

High

Low

Close

Volume

Market Cap

Jun 01, 2018

0.277993

0.28036

0.268894

0.27838

1,844,110

277,993,000

Apr 1, 2018

0.195568

0.197938

0.174754

0.186136

4,474,620

195,568,000

Feb 01, 2018

0.519383

0.530553

0.422669

0.462054

13,799,300

519,383,000

Dec 01, 2017

0.159462

0.1788

0.154044

0.176916

3,118,700

159,462,000

Oct 01, 2017

0.246144

0.258949

0.244727

0.255647

2,773,310

246,144,000

Aug 01, 2017

0.104245

0.128921

0.10002

0.120664

2,482,780

104,245,000

Jun 01, 2017

0.16823

0.175339

0.146197

0.171036

4,373,940

-

According to CoinMarketCap, BAT is ranked as the 50th largest cryptocurrency. This is because it proves to be advantageous since it can be traded amongst large cryptocurrency exchanges like Binance, BigONE, Bittrex, Radar Relay, Bancor Network etc.

Also Read: Complete Analysis of Basic attention Token | Live Basic attention Token (BAT) Price Charts And Predictions

 

#5 - How is BAT different from other cryptocurrencies?

Unlike every other crypto coin, the BAT coin completely focuses on its Brave browser:

  1. The Brave browser is an open-source and a privacy-focused browser. It has specifically been designed in order to block trackers and such malware.
  2. With the help of the blockchain, Brave automatically and anonymously blocks ads and trackers, providing a faster and a safer user-friendly experience than that of current browsers.
  3. Brave privately monitors user attention and accordingly rewards publishers with BATs. The more proficient their content is at gaining user attention, greater is the publisher revenue that is provided. The users to are given their shares of BATs for their participation.
  4. Moreover, Brave is also useful in utilizing anonymous user attention to aid advertisers in targeting fraud reduction.

 

#6 - Should you invest in BAT?

BAT technology has a very serious potential to restructure the gigantic lucrative advertising space whilst improving on many its inefficiencies. As of June 2018, the price of a BAT token is $0.52 USD and its total market capitalization around approximately up to $518 million USD.

Without a doubt, BAT and its Brave browsers seem to have great potential to rise higher in the future, above its current ranking. Moreover, with fast building technology, digital advertising, and other online media publishing platforms are transforming at high rates. This means that BAT can be considered as a safe, yet seize-able long term investment opportunity.

Support & Regulation

Support for the Basic Attention Token is immense, with many big names in the industry officially supporting the token.

  1. Popular YouTube channels, such as PewDiePie, Casey Neistat, and Philip DeFranco began accepting BAT in November of 2017.
  2. In February 2018, BAT announced that it was allowing streamers on the streaming service Twitch to receive donations via Brave Payments.
  3. One of the largest media houses in the world - the Washington Post - also began accepting BAT payments in 2018. 

BAT’s future potential

According to BAT’s white paper, the Basic Attention Token’s launch (May 31st, 2017) had aimed to raise up to $24 million USD. However, the total BAT distribution that is available to the public 1 billion BATS.

Caution

Since BAT is an ERC20 token and still heavily traded using the BAT/ETH pair, BAT’s value will be accustomed proportionally to Ethereum’s price fluctuations, at least in the near future. While there is little use of the coin at present, BAT seems to provide a great opportunity for long-term investments.

Furthermore, BAT’s developers believe that by tracking users’ interactions that occur with digital advertising content and by storing the same data in a distributed ledger, it will give them an opportunity to completely improve the digital advertising experience on the whole. This means that while users will experience lesser ads with better content based on their preferences and interests, publishers will come across new income sources!

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