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What Is Basic Attention Token?

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Nov 23, 2022
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4 min read
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This blog post will cover:

  • About Basic Attention Token (BAT)
  • Where did Basic Attention Token (BAT) come from?
  • What are the advantages of Basic Attention Token (BAT)?
  • What are the disadvantages of Basic Attention Token (BAT)?
  • How to buy Basic Attention Token (BAT) on SimpleSwap?

About Basic Attention Token (BAT)

The Basic Attention Token (BAT) is an ERC-20 token created as an advertising token.The main goal of BAT is to create a system that will connect users, advertisers, and publishers in a decentralized way. The BAT ecosystem includes the open source Brave browser, which is designed to block trackers and malware. This browser is completely confidential. Using blockchain technology, the project team can anonymously and safely track user attention and reward publishers.

What is the BAT token made for? The main purpose is to be a unit of exchange without intermediaries. The token is also used as a reward for users, publishers and advertisers. Users receive tokens for their attention to advertising, publishers get part of the advertising revenue, and advertisers receive high profitability for their campaigns. Thus, the BAT network seeks to make online advertising more transparent, and the distribution of advertising revenue - more equitable.

Where did Basic Attention Token (BAT) come from?

Basic Attention Token was created by Brendan Eich and Brian Bondy. These people are very famous in IT technology areas. Brendan developed JavaScript, one of the most well-known programming languages. Brian and Brendan helped develop the Mozilla Firefox browser. Brian Bondy also made a great contribution to the development of such projects as Khan Academy, Evernote. Members of the BAT team are revolutionaries in the modern advertising industry. They improve current trends that are disadvantageous to users, advertisers, and publishers. Their ideas can give us a product we will widely use in the future. The BAT project is known as one of the fastest ICOs: $35 million was raised in 30 seconds on May 31, 2017. There are 130 people who have purchased tokens, 5 of them bought half of the supply.

What are the advantages of Basic Attention Token (BAT)?

  • BAT is a cryptocurrency that could make a revolution in the advertisement area
  • BAT is one of very few cryptocurrencies with a legit use case and working product
  • BAT token has a clear purpose and value within the proposed ecosystem
  • BAT is created by a team with a proven track record in the IT field
  • The BAT team demonstrates transparency and reliability
    
    They regularly conduct online interviews (Ask-me-anything streams) with key participants. The token holder can ask a question about the project and immediately get an honest answer.

What are the disadvantages of Basic Attention Token (BAT)?

  • Brave browser is a direct competitor to Chrome browser
    
    This can be a very strong rivalry for a young project.
  • One of the main problems is that the success of BAT depends on the popularity of the Brave browser
    
    The token will not have value if the browser is not popular.

How to buy Basic Attention Token (BAT) on SimpleSwap?

Let’s say you want to buy Basic Attention Token. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:

  • For example, you want to swap BTC for BAT. Select the currency you want to exchange (e.g. BTC) in the first drop-downlist. Then enter the amount you want to swap.
  • Select BAT in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. BAT will be sent. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to BAT exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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