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BAT is actually the first altcoin in which I invested – possibly the second. It’s not the most popular digital currency due to its limited usefulness. However, this seemingly unimportant digital token is the 7th most held digital currency on Coinbase. This article is my Basic Attention Token review? Is it worthy of investment?
What is BAT?
Basic Attention Token is an Ethereum token that works in tandem with the Brave web browser. BAT powers Brave Software’s blockchain-based online advertising platform.
BAT is used by Brave to reward advertisers and content creators for the amount of time you spend on them. This increases their desire to produce quality content.
BAT is to Brave users as Dollars is to Walmart shoppers. Walmart knows most people won’t buy what they don’t like, so they display things they hope you will like so much that you hand over your dollars in exchange for their quality merchandise.
Quality content on the Brave web browser gets BAT users shelling out the token in rewards, kind of like attaboys for making the user happy.
Is BAT Even Useful To Web Users?
Well, if BAT is only good with Brave, then isn’t that like having tokens for a specific arcade? The tokens are bought with real money, but can only be spent thereafter on games at the arcade.
If millions of people are playing games at this arcade, the tokens used to play these games become a form of currency. People begin carrying the tokens around and can trade them with other patrons of the arcade.
If I have all these tokens, and you have none, I’ll sell you my tokens for whatever the arcade is currently selling them for. I’ll take the cash you gave me and buy whatever I want. It’s not a bad investment, considering how many people are using the arcade, or rather the Brave web browser.
Unlike some arcades, Brave will buy back your tokens at the current market value. Imagine the arcade is having a sale on tokens; each token is normally $0.50, but today get all you want for $0.38, each. Buy dozens at the low price. Save the tokens until the price goes up again, then sell back to the arcade or to another player.
Becoming a savvy token trader could become lucrative. Especially since we’re actually talking about a web browser that is used by millions.
What About The Web Developers?
Really, that’s a good question. If I have these valuable tokens, why would I just give them to somebody?
Internet users who browse the web using Brave’s free web browser (available at Brave.com) can choose to replace the ads they see with ads on Brave’s ad network. Users then receive BAT from advertisers as compensation for their attention.
So, wait, the user is being paid by the advertiser? But how is the advertiser getting BAT?
Ohhhh, okay, I get it now. You do too, right? Users get paid by advertisers for watching their ads instead of blocking them. Users give BAT to content providers they wish to support. Providers are then showing the ads that users want to see.
Okay, so the man in the video explains it better. We now understand the name: Basic Attention Token. It took me a while.
I used the Brave Browser for awhile on my LG smartphone, but the default apps kept crashing it. I have read that Brave does not do well on Chromebooks, (imagine that).
Still, don’t hold Brave’s performance against it based on my outdated phone. It might work splendidly on yours. It should work great on a PC, and plenty of people do have it on their phones.
It is a very smooth privacy-oriented browser that I really enjoyed when it was up. Besides, that was over a year ago!
Before you roll your eyes and change screens, Brave will let you add your websites to its list of reward sites, meaning you can earn and keep BAT on a card, which will enable you to spend it. Definitely worth considering!
You don’t just get BAT for regular browsing. Where are they going to put it? No one is going to keep it in abeyance until you get around to downloading a wallet.
It’s the same with content providers and advertisers. Anyone who wants to get in on the BAT exchange needs to sign up for the Rewards program.
When you sign up to give and get rewards you’ll need a wallet. Brave will walk you through all that.
I can tell you as a provider, it’s much easier on the user side! In theory, a website just needs this little plugin to the code and everything is fine. Thank goodness, my server is blessed with excellent support!
Here’s To BAT!
If you are interested in the Brave web browser, you will get much more usage from Basic Attention Token. Otherwise, you might still want to have some in a wallet for use somewhere along the line.
BAT is one of the few currencies still handing out free coins/tokens for watching a few videos on Coinbase. Give it a shot!
What are your thoughts and hopes and dreams? Planning on giving BAT a shot? Maybe just getting the freebies? What about trying Brave and seeing if you like it? Let us know what you plan on doing and what you’ve done in the comments below! It’s an exciting world!