How to buy Basic Attention Token online

Billed as the future of online advertising, Basic Attention Token is an Ethereum-based token that can be exchanged between publishers, advertisers and users.
By: Harry Atkins
Harry Atkins
Harry joined us in 2019, drawing on more than a decade writing, editing and managing high-profile content for blue chip companies,… read more.
Updated: May 11, 2021
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Read on to find out about Basic Attention Token and how it works, or jump ahead to our step-by-step buyers guide if you’re ready to start investing.

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What is Basic Attention Token?

Basic Attention Token (BAT) is the native token of the BAT platform, a project that aims to monetise user attention and eliminate needless advertising expenditure. The Basic Attention Token serves as a unit of exchange in an ad exchange marketplace that rewards users for giving attention to ads and grants publishers a chunk of the ad revenue.

How does Basic Attention Token work?

The BAT platform is built around the Brave browser, which blocks ads, third-party trackers and cookies. Instead of holding a user profile – like Google – it monitors your browsing and uses local advertisement matching to show you tailored adverts without compromising your privacy. 

It’s claimed that the BAT platform can enhance user experience by improving load time while decreasing data and energy consumption, increase ad revenue for publishers and improve targeting for advertisers.

The Basic Attention Token is the platform’s native token and therefore serves the fuel for this ambitious attempt to rethink online advertising.

How to buy BAT online – step-by-step guide

Step 1. Get a suitable wallet

There are loads of BAT-compatible wallets to choose from, here is one to start with: 

  • Ledger Nano X: One of the safest options for storing your BAT is the Nano X hardware wallet from Ledger. It’s not the cheapest wallet out there, but if you’re serious about security, it’s one of the best. Sign up for the Ledger Nano X >

Step 2. Find an exchange

To get your hands on some coins you need to find an exchange. There are plenty to choose from, so to narrow your search and save you some time, we’ve picked out the best places to buy Basic Attention Token: 

  • Changelly: If you’re looking a quick and easy way start trading, head on over to Changelly for some of the best prices and one of the most user-friendly interfaces around.  Sign up for Changelly >
  • Binance: Binance is the most popular exchange platform in the world and offers the widest range of cryptocurrencies. It has a ‘lite’ version for newbies, or a main interface with more features for those who are used to the market. Join Binance today >

Step 3. Withdraw your Basic Attention Token

In the interests of securing your BAT tokens, it’s a good idea to move your currency out of the exchange and into a wallet as soon as possible. To withdraw your BAT coin to your wallet you need to generate an address then paste it in the relevant field of your exchange account. 

How to trade Basic Attention Token – step-by-step guide

You needn’t worry about getting a suitable wallet if you’re only interested in trading BAT – trading involves taking a position on a currency rather than acquiring it. This means you can potentially make a profit from BAT coin without the hassle and security risk of owning it. 

Step 1. Find a broker 

Finding a broker is easy if you know where to find them and what you’re after. However, it’s well worth having a look around and doing some research before you commit to one as they all offer different perks and levels of support.  

We tend to go for more established brokers such as Plus500 or eToro as they have been around for a while and are easy to get to grips with. 

Step 2. Deposit money

Once you’ve chosen a broker, you’ll need to put some cash down as a deposit. The process is fairly straightforward and minimum deposit requirements are usually pretty low, so you can start with a relatively small bankroll.

Step 3. Decide how you’d like to trade

There are two main ways to trade cryptocurrencies: spread betting or CFDs (contracts for difference). While there are some differences, both methods require you to take a position on whether you think the price of your chosen cryptocurrency will rise or fall over a set period of time. If you’re just starting out, it might be worth doing some research on spreads and CFDs before you jump in. 

Step 4. Start trading 

Once you’ve put down a deposit, you’ll no doubt be raring to go, but we recommend you set up a demo account with your broker before you start trading for real. It’s easy to win and lose money very quickly when trading, so it makes sense to get a feel for the platform you’ve chosen as well as the ebb and flow of the cryptocurrency market.

In essence, all you need to do is take a position on whether the price of your cryptocurrency will increase or decrease. If you think it will increase take a long position and if you think it will decrease, take a short position.

You may opt to take advantage of leveraged betting, which is a feature of most trading platforms. Leverage enables you to put down a fraction of your trade’s total value as a type of deposit called a ‘margin’. However, this is a high-risk strategy, so it’s probably not for beginners. Experienced traders understand this, and use stop loss orders to mitigate risk. 

Still undecided?

Pros

  • Headed up by Mozilla co-founder and Javascript creator Brendan Eich, the BAT project boasts an impressive leadership team
  • BAT offers a compelling vision for the future of online advertising
  • Platform offers users genuine cost saving which could boost the chances of more widespread adoption
  • Millions of users already using the token

Cons

Harry Atkins
Financial Writer
Harry joined us in 2019, drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the… read more.