How to buy Basic Attention Token online

The Basic Attention Token is a cryptocurrency that’s part of a movement to revolutionise online advertising. This guide teaches you all about it and explains where to get the tokens.
By: James Knight
James Knight
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed,… read more.
Updated: Sep 1, 2021
Tip: our preferred broker is, eToro: visit & create account

This beginner’s guide to the Basic Attention Token goes through everything you need to know about the cryptocurrency. Learn how it works, what its ultimate goal is, and find out about its prospects for the future.

Compare where to buy Basic Attention Token, and open an account

To buy cryptocurrency right away, use one of the brokers below. These are some of the best brokers around, all reviewed and approved by our team of crypto experts. If you aren’t ready to dive in just yet, then keep reading to learn more.

1
Min. Deposit
$50
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user-score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
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Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
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Bank Transfer, Wire Transfer
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CySEC, FCA
2
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$20
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9.3
Margin Trading with full legal compliance
Cryptocurrency staking
Various Payment options
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Description:
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
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Credit Card, Cryptocurrencies, Debit Card, Wire Transfer, skrill
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3
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$10
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8.7
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
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LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.
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Bitcoin, Credit Card, Debit Card, Visa
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.

What is Basic Attention Token?

A cryptocurrency that’s used to pay content creators and advertisers online. In fact, its goal is to be the fuel for a whole new method of online advertising, where a user earns a reward for viewing ads and the advertiser pays a premium for those engaged viewers.

The key to the Basic Attention Token is the Brave web browser. Brave is a privacy-focused browser with a rewards scheme. By signing up for those rewards, users unlock the ability to earn BAT in return for seeing quality adverts that are tailored to their interests.

The Brave browser was first released in 2016 and the token followed a year later. People can use Brave to simply avoid handing over personal data through competing browsers that are owned by big tech companies. In theory, however, the token works as an incentive to encourage them to view ads through it as well.

How does Basic Attention Token work?

On a basic level, by tracking the movement of coins on the Ethereum blockchain. The blockchain acts like a public ledger where all the details of the currency are stored, like who owns what and a history of every transaction.

Within that larger ecosystem it runs its own micropayments network, which tracks the relationship between advertisers, content creators, and the end user. BAT tokens then flow between these parties: advertisers are assured a more active audience, while content creators are rewarded for good adverts, and users are rewarded for watching them.

How to buy Basic Attention Token online – a step-by-step guide

Step 1. Find an exchange

There are lots of crypto exchanges that offer Brave. Each one comes with its own unique set of features and you should take some time to pick one that suits your style. There are exchanges for beginners that feature lots of hand-holding, right up to much more advanced platforms that offer an array of features for experienced users. Here are two of the best ones:

  • Binance: Binance is the the largest exchange platform in the world. It has hundreds of cryptocurrencies and even more different ways to swap between them. There is a vast amount of learning material on there as well. Sign up for Binance now >
  • ChangeNOW: ChangeNow is a registration-free exchange and acts like a comparison site that lets you see the prices from a range of other exchanges in order to get the best value. Join ChangeNow >

Step 2. Sign up and fund your account

In order to use an exchange you have to create an account. Most platforms require some form of photo ID, along with a few contact details, to verify your account.

You often have to pay a deposit fee when you transfer money into your account and it varies depending on the method you choose. The cheapest options are almost always a bank transfer or debit card, while credit cards can be more expensive and deposits from other payment providers, like PayPal, either cost a lot more or aren’t available at all.

Step 3. Purchase

Find the Basic Attention Token by searching for its ticker symbol, BAT, when you’re logged into your exchange account. Then choose one of the coin swaps from the list of results, enter the amount you want, and execute the trade.

The exact swaps available depend on the exchange. You can swap a fiat currency like USD or EUR for the Basic Attention Token, but it isn’t available everywhere and some exchanges only offer it in a swap for other cryptocurrency. In that case it’s a good idea to learn how to buy Bitcoin first and then exchange that for BAT.

Step 4. (Optional) Get a suitable wallet

The last decision to make is about how to store your new coins. You can leave them in the exchange but for more security a cryptocurrency wallet is best. A wallet is like a banking app that protects your coins behind a password and that you can use to move money around. Here are two top wallets:

  • CoolWallet: CoolWallet is a hardware wallet that comes in the form of a card-like device. It stores your coins offline to keep them safe but comes with an app that you can use to manage them via a bluetooth connection. Join CoolWallet today >
  • KeepKey: KeepKey is another hardware wallet, this time shaped like a USB stick. You can access the coins by plugging the device into your computer but it’s defining feature is the ability to buy and sell tokens straight from the wallet itself. Sign up for KeepKey now >
1
Min. Deposit
$1
Exclusive promotion
user-score
10
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Payment Methods:
Cryptocurrencies
Full Regulations:

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

Step 1. Find a broker

To trade cryptocurrency you want to find a broker that charges low trading fees. One of the traits of successful traders is making a lot of moves, with the idea of making a small profit on each that builds up over time. Low trading fees are crucial, otherwise you end up sacrificing a lot of your capital to pay those commissions every time.

Here are two top brokers to use:

  • eToro: eToro is one of the most popular brokers around and lets you trade CFDs on a range of different assets, including all the most popular stocks as well as cryptocurrency. Join eToro today >
  • Robinhood: Robinhood is another popular broker that has an array of resources for retail traders. You can use the platform to speculate on the price of everything from crypto to commodities. Sign up for Robinhood >

Step 2. Deposit money

Brokers usually charge a fee for any deposits and withdrawals and you should check the fee structure before you decide how to fund your account. In general bank transfers and card deposits are cheapest, while PayPal might be more expensive. Look out for first time deposit bonuses as well, as these can be worth using.

Step 3. Decide how you’d like to trade

Most traders use contracts for difference to trade crypto. These are contracts that represent the price of an asset (in this case the BAT coin) and you buy or sell them depending on which way you think the price will go. Your profit is the difference in price on the day you bought compared to the date you sold.

Step 4. Start trading 

Before you start trading for real, you might want to consider using a demo account. A demo or virtual account is simply a way of trading using ‘fake’ money, without putting any of your real capital at risk and it can be a great way to learn the ropes, stress-free.

In terms of the trading itself, you have to decide how you expect a coin to perform. If you think it’s going to increase in value, you should take a long (buy) position. Otherwise, take a short (sell) one. Use the latest news and your own research to shape your market moves.

Depending on how confident you are, you can make more substantial bets by introducing leverage. Leverage involves borrowing money from your broker and using it to multiply your trade value many times over. That can lead to big wins if you get it right, but you’re liable for the entire trade if it goes wrong, so be careful.

1
Min. Deposit
$50
Exclusive promotion
user-score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA

Still undecided?

To help you reach a final decision on the Basic Attention Token, here is a summary of its pros and cons. After that, there’s more discussion on how to time your entry into the market and what you can expect from the future.

Pros

  • Be part of a new movement to change online advertising
  • There are few direct competitors that offer a similar service
  • You can earn extra BAT by using the Brave browser and watching adverts

Cons

Finally, here are three more questions to help you decide whether to invest in Basic Attention Token.

1. Is it a good time to buy Basic Attention Token?

If you think it’s only likely to go up in value over time then buying now might be the best approach. Similarly if you want to use the token to tip or reward other creators, then you should get BAT straight away.

Otherwise, the best thing to do is to study the current price and wait for the right time to get involved. Most traders use some form of technical analysis to identify buying opportunities, with various indicators out there that tell them when to move in or move on. Our analysts regularly make price predictions too, and you can use their work to help you:

2. What problem does Basic Attention Token solve, and what are the coin’s investment prospects?

It aims to fix online advertising by completely reinventing the incentives that run the industry. By offering monetary rewards for good adverts and for viewing them, the BAT creates a virtuous circle rather than the ‘race to the bottom’ of forcing spammy adverts in front of viewers that exists at the moment.

Although the Brave browser owns only a small market share at the moment, privacy, consent, and usability are likely to become bigger issues in the years to come. That would bode well for BAT’s prospects, especially if cryptocurrency becomes a more mainstream method of payment that more of the population is able to use.

At the moment that’s one of a few barriers to success. Apple and Google dominate online advertising, while it’s not clear how the BAT price would an. You can track Brave’s efforts to crack that dominance by following the news in the links below.

Privacy browser Brave — which allows users to choose whether or not they will view ads, and rewards them if they do — recently deepened its ties to Gemini. The move will allow its users to send Basic Attention Token (BAT/USD), its native cryptocurrency, directly into Gemini’s User Wallet,…
Privacy-focused browser Brave has entered into a mega partnership with Binance to make its Basic Attention Token (BAT) part of the Binance Smart Chain (BSC) ecosystem. Coordinator of Binance Smart Chain ecosystem Xiaoguang Zhang has commented on the development. He pointed out that the feature will bring “seamless UX…
Brave has announced its plans to launch a new wallet that will integrate DEX aggregator with non-fungible token (NFT) support. Crypto-friendly web browser has been making arrangements to explore scaling solutions with the DeFi functionality to make its network more scalable. According to the announcement, it will also enable…

3. Do you want to hold Basic Attention Token for the long term?

Sometimes a buy and hold strategy is best, other times the right play is to flip coins quickly to try to make a quick profit. To a large extent the right approach for you depends on how active you like to be and what your goals are. Below are a few final considerations for each different type of investor.

Considerations for a long term investment strategy

If you expect Basic Attention Token to grow in value over time, then you should look to get some right away. Choose an exchange to get the coins and then think about using a wallet to store them.

Considerations for a short term trading strategy

A short term approach is about studying the current price to look for trading opportunities. Pick a broker with low trading fees and then use CFDs to speculate on price moves.


Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Financial writer
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed, rode, and ate an ostrich all on… read more.