What is Basic Attention Token?
A very common question when it comes to Basic Attention Token (BAT) is: “Why would Brave Browser need a token (BAT) for this?”. And the answer lies within Brave’s unusual, yet respectful approach to digital advertising. Brave’s advertisements are privacy centric (does not track the user), and are opt-in only (you only see it if you choose to).
And that’s where the Basic Attention Token (BAT) comes into play. Built on the Ethereum blockchain, and embedded into the Brave browser - it is an incentive token built into the browser to reward all players in the ecosystem - the user, advertiser and publisher.
Who created Basic Attention Token?
Basic Attention Token (BAT) is a cryptocurrency issued by Brave Inc. for their Brave Web Browser.
The Basic Attention Token was co-created by Eich and Bondy. The utility token was integrated into the browser and launched officially on May 31, 2017; it managed to raise $35 million.
Why is Brave Browser interesting?
Brave browser’s value proposition is its privacy-centric advertisements which does not track users, and that they are only opt-in. As users browse the web and opt into advertisements on Brave, they are rewarded with BAT for their attention. Publishers also receive a share of the BAT if they are able to retain quality users, while advertisers get better returns on their advertising funds by being able to reach quality audiences who are willing to pay attention to ads.
Users who have BAT can also choose to automatically contribute their BAT tokens to publishers based on their attention spent on the website or to manually tip them. Some known publishers who have signed up with Brave include The Washington Post, Vice, The Guardian, and more.
Where to buy or sell Basic Attention Token (BAT)?
How to earn Basic Attention Token (BAT)?
In addition to purchasing BAT tokens, you can earn BAT through a few ways:
Viewing ads served by the Brave browser. Brave mentions that you will earn 70% of their ad revenue that they receive from advertisers. In exchange for your attention, you will be able to accumulate tokens as you browse the web.
Acquire random BAT rewards. These are worth between 25-40 BAT. These tokens typically become available monthly and users may claim it on a first-come-first-served basis. Users can claim this grant by clicking on the logo on the URL tab, and also through their Reward settings.
Joining the Brave Rewards Creators program. If you are already a content creator or publisher, you can benefit from this program by earning BAT tokens. You can receive tips from visitors, have a share on viewed ads from visitors on your website or channel and through qualified referrals.
Do bear in mind that if you would like to withdraw BAT, you will need to complete the “Know Your Customer” (KYC) procedure with Uphold. Uphold is a partner custody service of Brave that acts as your BAT token wallet. However, should you choose to only contribute your BAT to publishers, KYC is not necessary.
Where can I spend or use Basic Attention Token (BAT)?
The Basic Attention Token is currently native to the Brave browser. As you are using Brave, you can choose to stream BAT tokens to publishers automatically or to tip your favourite publisher that you wish to support through Brave Rewards.
Brave Rewards lets you anonymously contribute to the sites you visit. In addition, your browser tallies the attention you spend on the sites you visit and divides up a monthly BAT contribution among sites based on your attention. Nobody will know which sites you visit or support — including the creators at Brave Software.
How to mine Basic Attention Token?
Unfortunately, BAT is non-mineable. This is because all the BAT that will exist has already been created during its ICO time. BAT can only be earned at the moment, as explained earlier.
What are the benefits of Basic Attention Token?
BAT is challenging the status quo by offering an alternative solution to paid advertising. In an online world where cookies track your browsing behaviour and your privacy compromised all in the name of optimizing ads revenue. BAT is a refreshing approach that aims to bring the power back to users while at the same time benefit publishers accordingly.
Digital advertising will be disrupted in years to come as more and more internet consumers become more aware of protecting their privacy. Basic Attention Token may play a central role in terms of filling the revenue gap as users shy away from selling their privacy to advertising companies.
Can I Earn more BAT by holding it?
Yes, you can earn BAT by depositing it into various platforms. Hop on over to this page and start earning!