How & Where to Buy Basic Attention Token (BAT) in 2024

How to Buy Basic Attention Token

Now comes the time when we talk about buying and owning BAT coins. Please recall that brokers only offer exposure to BAT through CFDs, but exchanges put you in contact with peers to buy and sell Basic Attention Tokens. As with brokers, exchanges also differ in fees charged and the security of the platform.

Therefore, it is prudent to compare the exchanges beforehand to make sure you get the best deal available. For better security, ensure that the exchange has proper licenses that ascertain its regulatory status.

1. Set up a Basic Attention Token Wallet

Since you are buying to hold the coins, you need somewhere to store them safely. Thankfully, Basic Attention Tokens are popular, and that means most wallet providers support the crypto. Before you set up the wallet, it helps to know the type that will offer the best service.

It is essential to note that crypto wallets exist in two forms—hardware and software type. A software wallet also goes by the name online wallet because you need an internet connection to gain access. This wallet type can exist on a desktop or a smartphone. However, the live (or hot) nature of the wallet makes it vulnerable to hackers.

Perhaps this is why security-obsessed BAT owners prefer hardware wallets. A hardware wallet performs the same functions as the software type, the only difference being that the former is a physical object. Some refer to hardware wallets as cold wallets because you do not need an internet connection to access them.

2. Choose and Join an Exchange that Sells Basic Attention Token

As with brokers again, exchanges require new users to create accounts before being able to transact. The account registration process does have some differences, but they are mostly minor. Some exchanges from which you can buy BAT include Coinbase, Binance and CEX.

The verification process is another area where key differences exist among the exchanges. For example, some exchanges have a stricter KYC process, and that might take days to complete.

Others take a few hours to verify uploaded documents. We believe that the verification period should not matter if you get better security and service delivery in turn.

3. Choose Your Payment Methods to Buy Basic Attention Token

You have lots of freedom when choosing the payment method to buy Basic Attention Tokens. The exchanges, including those mentioned above, accept direct payments such as using credit cards. It means you do not have to fund your account first before placing the buy order.

Other exchanges allow users to attach bank accounts to their profile. This way, the users can transfer funds between the exchange and the bank in a seamless fashion. Depositing funds in the account is also a great choice and also the most convenient.

The payment methods differ based on convenience, cost and transaction speeds. For instance, bank transfers might offer convenience, but you might have to wait for longer, sometimes days, to complete transactions.

4. Place an Order to Buy BAT

Buying BAT begins by logging into your account or creating one if not yet registered. After you complete the verification process, now is the time to fund the account.

Our research discovered that few exchanges support the buying of BAT with fiat currency, so you need to buy specific digital currencies to use. For example, Binance lets you buy BAT using Litecoin (LTC), Dash (DASH), Bitcoin (BTC), and a few others.

The good thing with buying BAT with other digital currencies is that the personal details demanded are few. However, users who wish to use fiat currency have to pass the rigorous KYC process.

To buy BAT using other cryptocurrencies, ensure you acquire the preferred tokens before opening the exchange’s Buy/Sell page. Specify the BAT amount you want and the currency in which you wish to pay. The exchange will automatically generate the precise amount required from you.

5. Safely Storing Your Basic Attention Token in a Wallet

Do you wish to spend the tokens in the coming days, or would you love to keep them for months or even years? If the former, then the coins are safer in the exchange’s custody. This way, you avoid the back and forth that saves you the transaction costs.

If the latter, then a private wallet is the ideal storage. Transferring the coins is a straightforward process that begins with opening the “Withdrawals” page. Choose the destination wallet by entering the public wallet address in the provided space.

Once everything is in place, including two-factor authentication, click “Send” and wait for the tokens to land in the private wallet.

Should you Buy or Trade Basic Attention Token?

We have discussed the difference between owning and trading BAT elsewhere in this guide, but we think it won’t hurt to repeat.

Buying the Basic Attention Token involves logging into a crypto exchange account, such as Coinbase or Coinmama, and placing an order for the given amount of the tokens. At the end of the transaction, you get the coins and then store them in a private wallet or let them stay in the exchange’s custody.

On the other hand, trading BAT happens via a broker such as eToro or Pepperstone. Unlike a crypto exchange, professional brokers offer exposure to BAT through CFDs.

Also, they only link clients with the market, which means buyers/sellers do not have access to the digital asset’s market price. Trading BAT entails opening long or short positions, which can be done as many times as possible, and a position can last from a few minutes to a day.

Basic Attention Token: Long Vs Short Term Investment

Long-term investment entails buying BAT coins to hold them for extended periods; it could be one month, a year or more. The investment strategy involves setting up a private wallet to store the coins for the period of ownership.

Although we cannot place a rigid timeframe for a short-term investment, we think this is an investment approach that involves gaining exposure to BAT for a single 24-hour trading session or less. This investment technique is ideal for BAT traders who prefer to buy BAT CFDs from professional brokers.

5 Things to Consider if You Want to Buy Basic Attention Token

You need to pay attention to a few things if you plan to buy Basic Attention Token. These will determine what the whole experience will be like for you.

1. Carefully Choose Your Preferred Secure Payment Method

Cryptocurrency exchanges and online brokers that allow the purchase of Basic Attention Token will support various payment modes to purchase the token.

Some of the popular options you are likely to come across include the use of credit/debit cards, bank transfers, third-party payment processors, and use of other cryptocurrencies. It’s up to you to choose a mode that you feel most comfortable with to make the purchase.

2. Will You Need to Set Up Your Own Wallet?

The decision to either set up a cryptocurrency wallet or not will rely on your overall investing goal. Are you planning to buy the token and hold onto it for a very long time or aim to exploit its volatile price and regularly take profits?

If you intend to hold on to the coins for a while, it makes sense to procure a safe and secure wallet. However, if you intend to use brokers to trade financial instruments attached to the asset, you don’t need a wallet since you will not deal with the actual asset.

3. Comparing Costs

Costs are common among platforms that allow users to buy and sell Basic Attention Token. They exist as fees, and this is how these platforms make their money. Also, they differ from one platform to another.

Most top platforms offering almost similar services will try to be competitive with their costs to attract users. It’s your duty to research some of the likely costs you are likely to encounter within a platform and compare them against potential competitors before deciding which platform to use to purchase BAT.

Some of the costs you are likely to encounter on the exchange will come in the form of network fees as part of transaction fees, withdrawal fees, trading fees, and so on. Brokers will not charge fees for most services but will charge commissions for a given number of trades. Some will also charge inactivity fees if you go for an extended period without using your account.

4. Safety and Security

The next thing you need to pay attention to is the safety of the platform you choose to buy BAT. You need to research what security measures the platform has in place to protect user funds. Most will employ SSL certifications and encryption to make it hard for the platform to be breached.

Also, most exchanges will store like 90% of all user funds in cold wallets, which means even if the platform is breached, the damage will be minimal. Also, lately, there has been a rise in exchanges insuring their platforms, and in case funds are lost, users can be refunded easily.

The protocol employs cryptography, decentralization, and consensus mechanism to protect its network from being breached. This prevents the possibility of 51% attacks where a few malicious individuals take over the network and change transactions in their favour, hence stealing from the network.

5. Can You Understand and Navigate the Platform?

This is another factor you need to keep in mind since it will determine the likelihood of using a given platform. Top platforms are built in a simplistic manner that isn’t intimidating to new users.

They also offer tutorials on how to interact with various aspects of the platform, and there is readily available customer support to help out whenever you get stuck. You need to pay attention to the red flags, including an overly complicated user interface, lack of resources on how to use the platform to make a purchase, and lack of easily reachable customer support.

What is the Best Payment Method for Buying Basic Attention Token?

On platforms that offer access to BAT, you will find many options to purchase the token. Below let’s take a look at some of the most convenient modes available.

Buying Basic Attention Token with Debit/Credit Card: This is the most common method you will find on most top exchanges and brokers.

It’s easy to use. You need to access the buy tab on crypto exchanges, select BAT if it’s offered there, and enter the amount you would like to spend. Then proceed to enter your card details, and you are good to go. But depending on where you are located, this payment mode might not be accessible to you.

Buying Basic Attention Token with Crypto: If buying crypto with a credit/debit card isn’t an option for you due to regulations and other restrictions, then you can consider buying BAT using crypto.

This means you need to have crypto on your hands in the first place. You can visit a P2P platform that offers coins like BTC, where you get to pay with local payment modes. Transfer your BTC to an exchange that supports BAT and make the swap.

This is an easy way to acquire BAT, especially on platforms that don’t directly use credit/debit cards to purchase the token.

Buying Basic Attention Token Peer-to-Peer (P2P): Most P2P platforms aren’t regulated since they are decentralised, making it possible to access them from anywhere.

Some will not have KYC procedures; therefore, they are ideal for privacy seekers but it is not advisable to use such platforms as most of them are unregulated.

On P2P platforms, you will find many payment modes supported, including using local currencies to purchase crypto since you can choose to interact with people within your region.

Buying Basic Attention Token Using Third-Party Payment Options: This is another common payment option you will find supported by brokers and exchanges.

The buying procedure is similar to using a credit/debit card, but when selecting the payment option, you have to opt for any of the third payment options supported, such as PayPal and Skrill.

What Fees Are Involved in Buying Basic Attention Token?

When buying BAT, you are likely to encounter various fees on different platforms. Let’s take a look at the most common ones in the section below.

Transaction Fees: Transaction fees are common on exchanges that facilitate the buying and selling of BAT. They comprise network fees, and the exchange will add a small fee for facilitating the process. For some tokens, these fees can get high if the network is congested. Brokers will charge commissions on a given number of trades.

Deposit Fees: Brokers and exchanges will not charge any deposit fees, but the payment option you use to fund your account might do it. These fees vary depending on the mode you choose; therefore, it’s your duty before settling on one mode to choose the one that charges the least fees without compromising security and convenience.

Withdrawal Fees: These comprise network fees for taking coins or funds from and exchange. They differ on different platforms, and if you are frequently withdrawing, you need to identify where you will incur the least amount of fees over time.

Safely Storing Your Basic Attention Token

Basic Attention Token is a decentralised cryptocurrency that isn’t controlled by any single entity. Below are a few options you have to store your tokens.

Web Wallet: These exist as exchange-supported wallets or browser extensions. When you sign up on an exchange and purchase, your token balance will reflect in your exchange-provided wallet.

These are custodial wallets, meaning you don’t hold the tokens’ private keys, which means the exchange owns your tokens. If it’s breached, there is a chance you can lose your coins. All web wallets offer great convenience, especially for short-term investors; the people that want to access their coins often for trading or conducting other transactions.

Mobile Wallet: These are applications you download and install on your smartphone that help users hold their tokens securely. They offer great convenience since you get to track your portfolio and access your coins on the move.

However, if your device gets infected by viruses or malware, you risk getting hacked and losing your BAT tokens. Guarda and TrustWallet are good examples of a BAT mobile wallet.

Desktop Wallet: This is software you install and run on your PC. It offers an interface where you get to trade, send and receive tokens while keeping your private keys. It’s great for those that need to access tokens often, such as traders.

Also, it’s quite secure compared to web wallets. But, like mobile wallets, desktop wallets are prone to infection by viruses and malware. Also, they are vulnerable when you connect to the internet. Good examples of BAT desktop wallets include Guarda and Exodus.

Hardware Wallet: These are physical devices that resemble USB flash drives. They offer cold storage of crypto tokens such as BAT since they keep your private keys offline most of the time.

Whenever you want to send or receive tokens, you can connect the device to your PC or smartphone, make the transaction, and disconnect. So far, they represent the safest way you can store your tokens away from bad actors and are ideal for long-term investors and individuals holding a huge number of tokens. Ledger and Trezor are two good examples.

Wallet Combinations: You are not restricted to use a particular wallet only, and it’s possible to combine several types at a go.

So if you are both a short-term and long-term investor, you can opt to combine browser extension wallets like MetaMask that offer quick access to DEXs and trading platforms and also simultaneously use a hardware wallet where you transfer coins that you plan to hold for an extended period.

What Other Coins Can I Trade or Use to Buy Basic Attention Token?

BAT is one of the most popular tokens within the crypto market due to its utility. This means it’s easily accessible from top exchanges that list plenty of tokens, and you can easily swap it for other available coins. Stablecoins offer the best way to trade BAT. Also, popular coins such as BTC, ETH and BNB are an option.

What’s the Smallest and Largest Amount of Basic Attention Token I Can Buy?

One BAT token currently goes for around $0.62. That is roughly sixty cents. One dollar can get you one token and a half. But exchanges will not allow you to purchase tokens worth a single dollar since there are fees involved, the kind discussed earlier.

Therefore, they stipulate that you buy coins worth at least $10, which gets you about 16 BAT tokens. As for brokers, they will have limits on the amount you can use to fund your account. This can be $100, $200, or even $250.

Can I Buy Basic Attention Token Anonymously with No ID? Is it Safe and Legal to Buy Basic Attention Token?

The incredible thing with cryptocurrencies is that it’s sometimes possible to buy these digital assets anonymously without disclosing your personal information. Mostly this option is available on decentralised exchanges that operate peer to peer.

Here you get to negotiate with other traders before settling on the price. Then you pay, and they release the tokens to you. However, you need to be careful who you are trading with since it’s easy to get scammed.

These platforms operate on a reputation basis where users rate each other based on their trading experiences with them.

Centralised exchanges may not provide the privacy you may crave but offer excellent security for your BAT investment.

Will Buying Basic Attention Token Make Me Money?

Basic Attention Token is a solid project that is revolutionising digital advertising and how content creators are rewarded.

Many useful products have come from the project, such as the Brave browser, where you get to browse the internet without being bombarded by advertisements, and you even get tipped for using the browser.

It’s one of the solid projects that should see increased adoption over time, and this will see its tokens grow in value. But whether it can make you money will depend on many factors such as how much you can research the price history and whether you invest time to learn the basics of trading.

For learning more about the price of BAT, head over to the Basic Attention Token Price Page.

How to Spend Your Basic Attention Token

You can use your tokens to make purchases of goods at merchant points where these tokens are accepted. You can also pay for services using BAT. Let’s say you hire a freelancer, and both of you agree to settle the contract using BAT. On the Brave browser, you can tip content creators.

You can spend your coins in many ways, including converting them to fiat to spend them as you like.

How to Sell Your Basic Attention Token

The selling process is similar to the buying process. Platforms where you buy, are the same places where you will sell. Go for exchanges with high liquidity as these will allow you to make the sale instantly and at a fair price.

If you buy a CFD, then the process is much simpler as the trade can be automated and closed easily using robots. You don’t need to transfer BAT from a wallet to an exchange here.

3 Tips to Buy Basic Attention Token

With your mind focused on buying BAT, we wish to offer three tips for extra guidance.

1. Choose the Right Time and Do Your Own Research on Basic Attention Token

The right time to buy BAT depends on your ultimate goals and the due diligence you conduct. If your approach is a long-term investment, then the right time to buy the token is when the BAT price appears cheap.

For short-term investors, the right time to buy BAT depends on what technical analysis says. Also, ensure you do your own research to avoid falling for false insights.

2. Compare Costs to Buy Basic Attention Token

The exchanges and brokerages that offer access to Basic Attention Token charge a fee, which eventually adds to the cost of buying the cryptocurrency. Therefore, ensure the exchange you select charges affordably. To get the best deal, make a thorough comparison of the fees of all the exchanges in the market.

3. Safety and Security when Buying Basic Attention Token

Besides lower fees, the security of the platforms is paramount. A platform that takes necessary security precautions such as employing sophisticated encryption protocols–guards the integrity of the transactions. You could raise the bar higher by setting up a two-factor authentication mechanism for your account.

Other Ways to Acquire Basic Attention Token

The team behind Basic Attention Token created the Brave Browser, a security-focused browser that awards users with BAT coins for ads displayed. Users can tip their favourite content creators with the BAT. So, it means one can get BAT through receiving a tip on social media platforms.

The Basic Attention is a revolutionary project. Specifically, the team’s fixation on salvaging a broken digital advertising industry is noble. Information on the Basic Attention Token website says more than one million content creators are part of the BAT ecosystem, and the user numbers are advancing past 12 million.

For any currency to enter mass adoption, the masses must find some application for it. BAT is doing great on this front by enabling tipping. Since content creation is growing as a significant employer, there is a higher probability that more creators will join the ecosystem. BAT stands to gain massively from such a development.