An introduction in the most trustworthy places to buy BAT. Also, this guide gives you a deeper insight into the project.
Cryptocurrencies together with blockchain technology have been flooding the markets with new liquidity over the past decade. As a result, traditional investors and other trend seeking individuals were left behind and are currently suffering from FOMO. When the internet really took off about 20 years ago, it firstly disrupted traditional media channels(like tv, news, and magazines). Moreover, this trend of online disruption has never stopped resulting in the launch of Bitcoin in 2009.
Back then Bitcoin was just a brand new technology that can send value(BTC) across borders in a trustless way. After the definite breakthrough of Bitcoin in 2013, it didn’t take long before blockchain technology really took off with the birth of Ethereum. In fact, Ethereum took this interesting technology to another level by introducing smart contracts in a decentralized way.
The introduction of Basic Attention Token
What’s next in the evolution of blockchain and decentralization?
One of the new interesting projects out there is Basic Attention Token(BAT). In fact, this token is closely related to Ethereum by being an ERC20 token. Meaning, this cryptocurrency lives on the Ethereum blockchain and uses smart contracts in a trustless way. Currently, BAT token is ranked 30th place at Coinmarketcap with an estimated market cap of 280 million USD. In this guide, the best places to buy BAT and some research in the project.
Short history of Basic Attention Token(BAT)
What is Basic Attention Token?
As stated above, Bat token is closely related to Ethereum. The mission of the BAT team is to create an ad exchange marketplace that will connect the advertisers, publishers, and users in a decentralized manner. Moreover, this blockchain project uses its network to monetize user attention and remove all the other needless expenditures related to ad networks.
What is the problem
The advertising system as it functions today on the web is a little bit broken. Currently, internet space is full of middleman and fraudsters looking for a quick win. A good example is the fake advertisements on Facebook using famous people’s pictures to let people invest in Bitcoin. In the end, the users of the web are paying the price and also can’t protect their privacy properly.
The solution of Bat token
To tackle this problem, Basic Attention Token comes with a solution to take the user back in control of their private data. As a result, Brave browser was launched, which is a totally new web browser. In fact, the browser is already launched and you can download it here. Brave is a fast, open source, privacy-focused browser that blocks ads and trackers, and contains a ledger system that anonymously measures user attention aggregate to accurately reward publishers. Not surprisingly, the token used within its browser is the BAT token
The BAT token takes care of the following:
- Serves as a unit of exchange by cutting out the middlemen
- Rewards users, publishers, and advertisers.
- Users get paid for giving attention to ads.
- Publishers get a portion of the ad revenue as is the norm.
- Advertisers get better ROI for their content.
Where to buy BAT?
Basic Attention Token(BAT) is one of the most stable projects among cryptocurrrencies currently listed 300h place of all cryptocurrencies in existence. To buy such a cryptocurrency there are several options possible. The most common place to buy BAT is at a cryptocurrency exchange.
How to purchase BAT tokens the regular way?
The process of buying cryptocurrency at a trustworthy exchange could vary, but the basic principles of buying remains the same:
- Register at an exchange which sells BAT(*See list above*)
- Complete KYC/AML checks if any
- Chose the preferred method for deposit(Wire transfer/credit card/crypto)
- Make the deposit in any currency(USD/EUR/GBP etc)
- Buy BAT with these funds
Next in this guide, a list of the most trustworthy exchanges to buy BAT token.
Where to buy BAT : Reliable Cryptocurrency Exchanges
Coinbase is a USA-based cryptocurrency exchange. Based on daily trading volumes it’s one of the biggest and most popular exchanges in the world. They also support the instant purchase of BAT via Visa/MasterCard credit and debit card.
To purchase Basic Attention Token(BAT) with credit card, your card should support ‘3D Secure’. To find out if your card supports this, you can just try adding your card to Coinbase and it will give you an error if it doesn’t.
Furthermore, you can buy BAT at this exchange, provided that they serve your country. At present, they serve more then 100 countries, but unfortunately not all countries are able to buy and sell.
You can check if their service is available in your country here.
How to acquire BAT on Coinbase?
Steps to add credit card to Coinbase
- Register at Coinbase
- Complete ID verification with photo
- Go to the payment methods page.
- Click on +Add Payment Method on the right-hand side.
- Choose Card and add the credit/debit card.
- Accept and allow Coinbase to make two small transactions.
- Coinbase will make two very small test transactions between 1.01 and 1.99 in your local currency. Log in to your card statement account and note the amount of those transactions.
- Enter the amounts transacted in the Coinbase app / website
You should now see a window that says “Credit/Debit Card Added” and a Buy Digital Currency button.
Next in the procedure of buying BAT on Coinbase is submitting a buy order on their platform. To buy BAT on Coinbase you have the following trading pairs available:
Binance is founded by Changpeng Zhao and is a well-known blockchain industries expert and expert in setting up trading systems. In the past, he also founded BijieTech and was head of development at Blockchain.info. Binance can be considered as a very reliable altcoin trading platform, if you consider trading volume and the amount of coins listed on the exchange.
Binance which is originally a company from China, recently moved it’s headquarters to Malta because the China government banned cryptocurrency trading. Despite this ban, this crypto platform managed to grown to the biggest altcoin trading platform as it is today.
Where to buy BAT for US residents
If you are a USA resident, then I have to warn you. Recently, the main trading platform at Binance didn’t allow US residents at their platform anymore. This due to regulations by USA government. But don’t worry to much about that, within no time the trading company opened doors to Binance.us.
Trading at this domain is allowed for US customers, because it meets US regulations and compliance standards based on its Digital Asset Risk Assessment Framework.
For buying and trading the BAT token the following trading pairs are available:
BitFinex has been around for many years in the cryptocurrency space and is one of the exchanges with the highest daily trading volumes. To start trading at this exchange you have to sign up and go to a regular KYC/AML procedure first.
This online trading company is based in Hong Kong and has been operational since 2014. It gives its users the option to trade more than 100 cryptocurrencies/pairs in exchange of USD, EUR, ETH or BTC. Depositing EURO or USD to this is exchange is currently only available by wire transfer.
Trading on Bitfinex
Bitfinex offers the a very liquid order book and this makes it a very reliable exchange. Furthermore, it allows users to easily exchange Bitcoin, Ethereum, EOS, Litecoin, Bat and many other digital assets with minimal slippage. Bitfinex also boasts a suite of order types to help traders take advantage of every situation.
Following are the supported pairs on Bitfinex exchange for BAT:
Where to Buy Bat: Platforms which don’t hold your private keys
Before diving more into these exchanges for buying cryptocurrency, I want to make things clear first. If you want to buy Bat token at these places remember that you have to own a crypto wallet already. In short, there are two options:
- Software wallets
- Hardware wallets
Next, continue reading about the trustworthy exchanges to buy Bat online.
Coinswitch is another place which offers the possibility to buy or sell cryptocurrency. Buying Bat token is possible without going to exchange first. Moreover, the idea is that they will get your crypto from the exchanges against the lowest exchange rate. It doesn’t matter where you are located in the world, because their platform offers you to trade from anywhere.
Firstly, trading crypto can be done in more than 300 different cryptocurrencies and tokens. Secondly, like any other centralized crypto exchange out there, data about volumes, market cap & supply is also available on their platform.
Starting to buy Basic Attention Token(BAT)
When trading on their platform, the ordering process is different compared to traditional exchanges. When setting up a trade three things are very important in the trading process:
Compare rates across exchanges and find the best exchange rate.
Follow simple steps to exchange your cryptocurrency.
It’s very easy to track orders when an order is set up.
Coinswitch offers a fee for every transaction or converts you try to make. Also, this depends on the exchange you choose for buying.
Note: This fee does not include any amount charged by the exchange itself and the network fee.
It’s very good to know that you don’t store any crypto on their exchange when trying to buy it. You just give the public key of your wallet address and after transaction completion, the funds will directly be transferred to your wallet. In my opinion a very reliable place to buy BAT!
Changelly is another cryptocurrency exchange that allows buying Bat for USD, EUR in an instant way. Also, the service mechanism searches for the best crypto-to-crypto rates and supports over 130 cryptocurrencies available for exchanging one to another.
Changelly offers a trusted service to almost 2 Million users worldwide and without revealing user identities. They offer good security service and after you have setup an account at their platform you have to enable 2FA(2 step verification) . I think this is a good thing and makes Changelly trustworthy.
Fixed rates are not offered on their platform, this is because of the volatile nature of cryptocurrency. Instead rates are tied to the latest transactions and the lowest at that time of date. Additionally, commission fee is charged at a rate of 0,5% for crypto-to-crypto swaps.
For bank transfers they have a partnership with Simplex and Indacoin. Also, Simplex offers service for direct payment with ETH, BTC and BCH. Furthermorre, when buying crypto this way you don’t need the double conversion which is very usual at other crypto exchanges.
If your intention is to buy Bat token instantly, then the fastest way should be with BTC, ETH or BCH as explained above. Also, if you don’t own any crypto yet, buying BAT with credit card is another option.
Buying crypto like BAT token has become easier these days if you compare it with trading cryptocurrency a few years back. It totally depends on you what your intentions are with this newly acquired crypto. By showing you the several possibilities in this guide, I hope I have given you a clear view on what Basic Attention Token is all about and what the most trustworthy places are to buy this cryptocurrency.
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