Digital advertising is a driving factor behind the success of many internet companies such as Google (GOOGL) and Facebook (FB). Based on their browsing preference and history, online users are directed to ads of brands that they’re interested in. Basic Attention Token (BAT) is a cryptocurrency that was developed to increase revenue for advertisers by removing middlemen, trackers and fraud.
BAT is a new token designed to monetize exchanges among online users, publishers and advertisers. BAT has a specialized browser that lets you surf the internet and rewards you with tokens. Tokens are generated by a user’s attention to digital ads. The digital ad exchange using BAT is decentralized and transparent.
You can also trade BAT with online brokers to help you better manage your portfolio. Learn more about BAT and how to trade it through this guide.
Step 1: Open an Online Account.
You’ll need to open an account with an online broker to start trading BAT. Since the cryptocurrency was launched in 2017, there are a limited number of brokers that let you buy and sell BAT. You can sign up for an account on the website of your preferred broker.
Before signing up, be sure to verify that the payment methods are safe and secure on the platform. Some brokers can charge you a small fee as a commission for each trade made on the platform.
Here’s a rundown of the best online brokers to help you trade BAT.
Binance is a world leader in cryptocurrency exchange. It has an average daily trade volume of 2 billion units and clocks in about 1.4 million digital transactions per second. The platform lets you view live trading sessions, trade history and charts to help you trade BAT easily. It has an app for MacOS, Windows, Linux, iOS and Android.
Binance features a rich financial ecosystem that includes the following:
Binance Exchange is the largest crypto exchange by trade volume. It is also among the fastest cryptocurrency trading platforms on the market. A few of the cryptocurrencies traded on the exchange in addition to BAT are Binance Coin (BNB), Bitcoin and Ethereum.
Binance Academy is a learning hub for cryptocurrency traders. It has an extensive library of educational resources on blockchain and cryptocurrencies.
Coinbase is an online broker that lets you buy, sell and store cryptocurrencies.
It has over 35 million registered users in more than 100 countries around the world. Coinbase has assets under management (AUM) of $25 billion and has traded over $320 billion to date.
You can trade several cryptocurrencies on the platform including BAT, Bitcoin, Ethereum and XRP.
Bittrex Global is a trusted cryptocurrency exchange platform. It is a premier trading platform designed for fast trades, dependable digital wallets and industry-leading security. Bittrex Global allows you to trade more than 250 cryptocurrencies such as BAT, Bitcoin, Dash, Compound and ZCash.
Founded in 2013, Huobi Global is a global cryptocurrency trading platform. Huobi Global lets you trade up to 5x leverage on spot trading. The platform accepts credit card payments and stores your digital assets securely with a dedicated 20,000 BTC Security Reserve Fund. Huobi Global has a daily trade volume of $43 billion. Cryptocurrencies listed on the platform include BAT, Bitcoin, Huobi Token and Tron.
Step 2: Buy an eWallet.
You’ll need to set up a digital wallet to start trading cryptocurrencies. This wallet is a software application that can store your private and public keys. Your electronic wallet can directly interact with various blockchain platforms and lets you send and receive digital currency.
There are several types of digital wallets you can choose from.
- Desktop Wallet: The wallet application is downloaded to your PC or laptop. It is only accessible from a single computer with internet connectivity.
- Web Wallet: Web wallets operate over the cloud. They are accessible to their owners on any digital device including laptops, smartphones and tablets.
- Mobile Wallet: Mobile wallets are an application designed for your smartphones. You can manage your digital assets and trade cryptocurrencies on-the-go with a mobile wallet.
- Hardware Wallet: A hardware wallet is a physical device used to store your private keys. Unlike web wallets, hardware wallets can be stored offline for improved security.
- Paper Wallet: A paper wallet is a physical print of your private and public keys. After the transfer of funds, you can have the public and private keys sent to your address for safekeeping.
Best for Hardware: Trezor Model T
Trezor is a hardware digital wallet. Hundreds of cryptocurrency traders use it to store large amounts of Bitcoin. Trezor can not be infected with malware. Trezor has a web-based interface that makes it easy for you to manage your digital assets. It supports Windows, MacOS and Linux operating systems.
Best for Hardware: Ledger
Ledger is a hardware digital wallet. You can connect the device directly to your smartphone by USB or Bluetooth. Ledger supports more than 1,500 cryptocurrencies. It also comes with a Ledger Live application that enables you to manage your account, send and receive cryptocurrencies on the move.
Step 3: Make Your Purchase.
Online brokers have made digital transactions fast and easy. Before you begin to trade cryptocurrencies, you must deposit money into your trading account. Cryptocurrency brokers generally accept payment methods through credit cards and bank transfers.
Go through the list of cryptocurrencies offered by online brokers before making a trade. BAT can be bought and sold on several brokers such as Coinbase and Binance. You can consider comparing the price and commission fee of BAT on different platforms before executing the trade.
Trade or Sell Your Cryptocurrency
There is a limited number of BAT in circulation on the digital markets. The total BAT available for trade is 2 billion. You can trade BAT at any time for trending cryptocurrencies such as Bitcoin. Most exchanged cryptocurrency pairs include BAT/BTC, BAT/USDT, BAT/BNB and BAT/ETH. You can also choose to support up and coming artists on emerging digital platforms by paying them in BAT.
In November 2020, BAT recorded its largest transaction to a centralized exchange wallet in 3 months. A 90-day high of 25 million BAT was liquidated for $5 million. This massive trade managed to slightly raise the price of BAT on the cryptocurrency trading platforms.
Current Crypto Prices
BAT has been a popular currency among crypto traders. It is currently priced at $0.237847 per BAT. The cryptocurrency has a market cap of over $357 million. BAT has a 52-week low of $0.088837 and a 52-week high of $0.438723. It has a return rate of 41.17%.
Grow Your Digital Assets with Basic Attention Token
Built on the Ethereum blockchain, BAT is among the most widely traded cryptocurrencies. BAT has a highly secured network of Ethereum miners. Since its release in 2017, millions of traders have started to trade BAT.
The cryptocurrency is also frequently traded on its native browser between users, publishers and advertisers. This unique feature of BAT can make it a potentially profitable cryptocurrency in the near future.