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What Is Basic Attention Token and How to Buy BAT?

2023-05-17 02:39:47

Let’s be honest. The Internet is full of advertisements. From Youtube to Google, you can see ads everywhere. But the problem is the current ads system is broken, or you can call it ‘flawed.’ It is invasive, wasteful, and frequently makes unauthorized use of user data. 

The Basic Attention Token, also known as BAT, is a project based on blockchain technology. It is an initiative that seeks to address these issues by developing a decentralized advertising platform that rewards people for their attention and protects their privacy. 

In this article, we’ll talk about BAT, its history, and its features.

Basic Attention Token (BAT)

What Is Basic Attention Token (BAT)?

Basic Attention Token (BAT) is a digital currency used by the Brave Browser. The Brave Browser is a fair internet browser that aims to change how advertising works on the internet by making consumers, creators, and marketers all more equal. BAT is connected to the Ethereum blockchain as well as the Solana blockchain, and it contributes utility to both of these ecosystems.

The Brave Browser, developed by the same team that developed the Basic Attention Token, is the only online browser currently capable of using the Basic Attention Token. According to the initial version of their plan for 2018, the BAT system was expected to be incorporated into other browsers and applications.

Users receive token payment advertisements in a locked state from advertisers who employ smart contracts. Each time a user views the ad, that user will receive a proportional share of the token payout. A portion of the token payment is also given to the Brave browser. The remaining amount of the fee is given to the publisher who is responsible for hosting the advertisement.

Currently, the BAT is trading at $0.2357 at various exchanges. The total market capitalization is 353.89 million. The total supply of BAT tokens is 1.5 billion. Out of 1.5 billion, 1.48 billion tokens have already been purchased.

History of Basic Attention Token (BAT)

Brendan Eich, the co-founder of Mozilla and Firefox, developed the Basic Attention Token (BAT), intending to utilize blockchain technology to enhance the safety, fairness, and effectiveness of digital advertising. 

The idea behind the token is that it will do away with (or, more accurately, circumvent) any frauds or intermediaries linked with the conventional approaches to digital advertising.

After some time had passed since the creation of the BAT tokens and their subsequent distribution, particular aspects of the BAT platform were eventually incorporated into a particular web browser, specifically the Brave browser. The developers built these components to be compatible with the Brave Payment program. Until then, most of the company's transactions were conducted using Bitcoin.

Feature of Basic Attention Token (BAT)

Following are some of the fantastic features of BAT:

  • Users can browse the web in solitude once more while still having the opportunity to make money from their interests.
  • A sizeable portion of the revenue publishers had previously lost to bots, and intermediaries can now be recovered.
  • Advertisers obtain improved data on the campaigns, enabling them to target their messaging more precisely. 
  • It is not limited to the Brave web browser, even though the BAT tokens are most widely used with and connected with the Brave web browser. BAT may also be integrated into a user's choice of alternative web browser.
  • As a user, you can spend your BAT on various items within the browser, such as premium articles and products, donations to content providers, high-resolution photo and data services, and so on. The BAT ecosystem could grow to include the usage of micropayments for upvoting and downvoting remarks on online forums.

BAT Token Value

The Basic Attention Token (BAT) is a utility token built on the Ethereum technology. It may also be used as a unit of account between advertisers, publishers, and users in a new blockchain-based digital advertising and services network. BAT is based on the Ethereum technology. The token does neither function as a form of digital currency nor as a security or a commodity. BAT has 55 million monthly active users, 16 million daily active users, 1.5 million verified authors accepting BAT, millions of wallets produced, thousands of ad campaigns with top brands, and expanding utility in the most innovative names in blockchain gaming. These statistics were found using the Alexa website. The outcomes have made BAT one of the most successful alternative coin ventures, if not the most successful. BAT is currently connected to the Ethereum blockchain and the Solana blockchain, and it contributes utility to both ecosystems.

BAT intends to bring about a paradigm shift in how advertisements are displayed on the internet. This will be accomplished by providing advertisers, publishers, and consumers with incentives in the form of fair rewards for their participation in online content consumption.

Basic Attention Token and Brave comprise various products and services, some of which are listed below: Brave Wallet, Brave Firewall and VPN, Brave Playlist, Brave Search, and Brave News.

How to Buy BAT Tokens? 

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including BAT, users can now trade easily and seamlessly.

If you are new to CoinEx, you can easily sign up with your Google mail. 

If you have a CoinEx account, this is how to purchase and sell BAT on CoinEx:

  1. Enter your login information: To access your CoinEx account, visit the website or launch the app and enter your email and password.
  2. Put funds in your account to make BAT coin purchases. You can deposit the funds via credit card, etc.
  3. Once you have funds in your account, you may buy BAT by going to the BAT trading page and choosing the trading pair you wish to use.
  4. Tokens (USDT, BTC, ETH, and CET, etc.) can be exchanged for BAT. Put in your order and the quantity you want to buy.
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