New to the world of Basic Attention Token (BAT)? You’ve come to the right place to collect information and learn! If you want to dive right in, scroll down to the section about how to buy Basic Attention Token (BAT), where you can start right away!
Cryptocurrency is a type of digital money. Unlike traditional currencies such as Canadian dollars or Euros, cryptocurrencies like Basic Attention Token (BAT) operate on decentralized networks based on blockchain technology. “Decentralized” means that the network operates without a central authority or intermediary. There are several aspects of Basic Attention Token (BAT) and other cryptocurrencies that qualify them as decentralized. These aspects include the use of blockchain (distributed ledger) technology that no single person controls, peer-to-peer transactions that don’t involve an intermediary, consensus mechanisms to validate and record transactions, and open-source code that allows anyone to scrutinize records of transactions.
If you’re a complete novice, this explanation may still be opaque to you, but we encourage you to investigate the basics further. You’ll soon catch on, and your confidence will grow steadily.
With the rise of digital advertising, its downsides are becoming more evident. Users are targeted with unnecessary and harmful ads that slow down page load time and compromise a user’s privacy through tracking and data sharing. Mobile ads can drain battery life by 21% and may lead to data charges of up to $23. Ad-blocking software is used by millions of users worldwide to prevent this, leading to a decline in revenue for traditional advertisers.
The Basic Attention Token (BAT) is an Ethereum-based cryptocurrency that aims to change the $330 billion digital advertising industry by creating a blockchain-based digital advertising exchange that eliminates fraud. BAT creates a transparent and decentralized advertising experience that benefits clients and consumers.
The Brave Browser, created by the same team behind the token, links publishers, advertisers, and users in a beneficial system. The Basic Attention Token serves as the reward unit, offering publishers higher revenue and advertisers more cost-effective customer attention. Viewers of the ads also benefit from increased relevance, enhanced privacy, and a portion of the tokens spent by advertisers.
Brave Software was founded in 2015 by Brendan Eich and Brian Bondy. Eich, known for creating JavaScript and his role in developing Mozilla's Firefox, teamed up with Bondy, who also played key roles in Firefox, Khan Academy, and Evernote. In addition to co-founding Mozilla, he is also the mastermind behind JavaScript, a core language for multimedia functions on the Internet.
The Basic Attention Token crypto was launched in 2017 and gained attention for raising $35 million in under a minute during its ICO, one of the quickest sell-outs ever. However, the ICO sparked controversy as only 130 individuals purchased the token, with half of the supply bought by just five people. This lack of decentralized governance sets Basic Attention Token apart from many other crypto projects.
Brave 1.0 was released in November 2019, introducing the first fully-featured Brave Browser. Prior to this, the browser was available in beta. The Brave 1.0 release included Brave Shields, Brave Ads, and Brave Rewards.
BAT is the native Basic Attention Token crypto. The maximum 1.5 billion BAT supply is currently in circulation, with no new tokens to be created, resulting in a decline in supply.
BAT is an ERC-20 standard on the Ethereum blockchain. It has various uses, including compensating users for the time spent looking at ads on the Brave browser. These ads pop up as notifications now and then, depending on the user's preferences. Users decide if they want to see these ads or not, and can even choose to view them later.
As stated in the whitepaper, the number of BAT tokens you earn is based on how often and how long you engage with ads, as well as the total revenue the ad generates. This amount is then divided among all users who saw the ad.
BAT is rewarded to publishers and content creators based on the user traffic they bring to ads. This encourages them to create engaging content and enhance the browsing experience. Additionally, BAT can be used for tipping, enabling users to directly support their favourite blog sites, channels, and other media platforms.
Users of the browser can activate Brave Ads to earn Basic Attention Tokens for viewing ads. They can also enable Brave Rewards to distribute their monthly BAT token contribution among visited sites based on time spent on each. BAT can also be used to redeem digital items and participate in prize contests on partner websites like tapnetwork.io.
Unlike websites that track and sell viewing behaviour data to advertisers, the Brave ledger system uses a zero-knowledge-proof algorithm to provide personalized ad recommendations without compromising user privacy. Zero-knowledge proof allows parties to reach agreements without disclosing private information. Brave users can earn up to 70% of advertising fees in BAT, with the remaining 30% kept by Brave for development.
On November 27, 2021, the BAT price peaked at around $1.76.
Want to jump straight into learning how to buy some Basic Attention Token (BAT)? Here’s our quick-start guide!
Coinsquare is a leading cryptocurrency trading platform that was started by Canadians for Canadians in 2014. Coinsquare is trusted by hundreds of thousands of Canadians for their Basic Attention Token (BAT) trades and has processed over $8 billion in trading volume to date.
This crucial step helps protect your identity and your Basic Attention Token (BAT) transactions. It also ensures that Coinsquare meets its regulatory obligations. You will need to submit some personal information, including your name, address and phone number, as well as a scan of a government-issued identity document such as your driver’s license or passport. Rest assured that this data will be kept in the strictest confidence. You will also need to answer a few questions to determine your risk profile.
These funds are what you’ll use to buy your Basic Attention Token (BAT). You can transfer money directly to your account for free using Interac e-transfer, or you can wire transfer the funds from your bank account.
Choose the currency you want to use to buy your Basic Attention Token (BAT). For now, you’ll be using CAD because that’s what you have on deposit in your Coinsquare account, but later on, you might use USD or another cryptocurrency for your purchase. Once you’ve selected the currency, you can go ahead and purchase your Basic Attention Token (BAT)!
You won’t be able to spend your Basic Attention Token (BAT) at all Canadian retailers, but the list of stores that accept Basic Attention Token (BAT) and other cryptocurrencies is always growing. Keep an eye on the news about Basic Attention Token (BAT) and ask your favourite retailers about their policies.
All cryptocurrencies carry some level of risk, just like other volatile investments. It's essential to thoroughly research the token you plan on investing in and understand the risks before making any decisions. Remember, you should never invest more than you can afford to lose.
You can transact on Coinsquare in numerous currencies other than Basic Attention Token (BAT), including Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), Bitcoin Cash (BCH), Cardano (ADA), Dogecoin (DOGE), Chainlink (LINK), Polygon (MATIC), Shiba Inu (SHIB), USD Coin (USDC), XRP, and many more.
You can store your Basic Attention Token (BAT) in software applications called wallets. Wallets come in two varieties: hot wallets and cold wallets. Here are the differences between them.
Connectivity: Hot wallets are connected to the internet while cold wallets are not.
Access: Hot wallets offer quick and easy access for transactions while cold wallets require physical access.
Security: Cold wallets are more secure than hot wallets, which are more vulnerable to hacking and cyber attacks.
Usage: Hot wallets are ideal for frequent transactions and trading, while cold wallets are best suited to holding crypto in long term storage or in large amounts.
Setup and Maintenance: Hot wallets are easier to set up and maintain. Cold wallets require more complex set up and maintenance.
Recovery Options: Both hot and cold wallets often have recovery options like seed phrases, while cold wallets can also be backed up.
Convenience: Hot wallets are highly convenient for everyday use. Cold wallets are less convenient due to their physical access requirement.
Physical Risk: Cold wallets come with a higher physical risk, as they can be lost, stolen or damaged; while hot wallets carry a lower risk because they are not physical objects.
It is legal to buy and sell Basic Attention Token (BAT) in Canada, but Basic Attention Token (BAT) itself is not legal tender, meaning that it is not issued by the government or controlled by them. Cryptocurrency trading platforms are also legal in Canada, but be careful to choose one that is in good standing and has not been banned or isn’t allowed to operate in Canada. As a leader in the cryptocurrency trading space, Coinsquare is dedicated to complying with all federal and provincial regulations for cryptocurrency trading; we are held to the highest standards of any financial institution in Canada, so you can have confidence in the transactions you complete on our platform.
If you want to get more into the world of cryptocurrency, you can engage in additional activities.
You can purchase other cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), Bitcoin Cash (BCH), Cardano (ADA), Dogecoin (DOGE), Ethereum Classic (ETC), Polygon (MATIC), Shiba Inu (SHIB), USD Coin (USDC), XRP, and many more.
Get information and news updates in Coinsquare’s real-time news feed. On the website and in the mobile app, you can also check on the current market prices for Basic Attention Token (BAT) and other cryptocurrency products, look at the trading history of Basic Attention Token (BAT), and learn more about topics related to cryptocurrency.
Cryptocurrency has been criticized for its environmental impact, and not without reason. Traditional cryptocurrency mining, especially for coins like Bitcoin, has been associated with high energy consumption due to the power required for mining operations.
However, the cryptocurrency industry is sensitive to these concerns and is looking for ways to make cryptocurrency more sustainable. Here are some changes that some blockchains have undertaken to mitigate the impact of cryptocurrency on the planet:
Newer cryptocurrencies are being designed with sustainability in mind from the start instead of making changes after the fact. While these advancements show a commitment to sustainability and minimizing environmental impact, there is still a great deal of work to be done. Keep an eye on the news about the evolving cryptocurrency landscape.
Confirm your identity and answer a few onboarding questions.
Add funds to your account via e-transfer, wire transfer, or from another crypto account.
Choose Basic Attention Token (BAT) from the list and select the currency you want to use.
Complete your Basic Attention Token (BAT) purchase.
If you want to learn more about Basic Attention Token (BAT) and the cryptocurrency world, getting involved with the Basic Attention Token (BAT) community is a great idea. Here are some ideas about how you can follow trends, meet other investors, and contribute to the growth of the Basic Attention Token (BAT) space:
If you have technical or business skills, you can also engage with development teams, contribute your skills to the Basic Attention Token (BAT) project, or participate in governance by helping with decision-making and setting future directions.
Coinsquare offers a variety of services for all your Basic Attention Token (BAT) needs.
Coinsquare Wealth provides more customized services from certified Wealth Directors. Although our Wealth Director don’t provide investment advice, they help our clients navigate the cryptocurrency space so they can get more out of it and avoid obstacles. Coinsquare Wealth also offers other advantages, such as same-day settlement in CAD or USD and enhanced liquidity for large trades/
Coinsquare Pro gives experienced traders the resources they need to make complex decisions and apply advanced trading strategies. Intuitive trading tools, enhanced trading logs, and near-instant execution of trades allow them to control their investments with greater precision.
Coinsquare Trade is a no-fuss service that gives our customers access to over 53 digital currencies, in-app customer service support, fast withdrawal and deposit options, and a clean, user-friendly interface.
Coinsquare has been in business in Canada since 2014 and was developed by Canadians for Canadians. We are confident that we can provide you with the best Basic Attention Token (BAT) buying experience in the country. Join us today!
