What is BAT?
How to Buy BAT?
Anyone may purchase a BAT on Beaxy with Bitcoin (BTC). Beaxy is the most straightforward crypto exchange platform that exists. So, it is the right platform to use if you are purchasing cryptocurrencies for the first time. It supports several significant cryptocurrencies and puts a lot of focus on compliance. You will not find any unlawful coins on the Beaxy platform.
The steps followed when buying BAT on Beaxy are below.
1. Go to Beaxy and open an account.
Opening an account takes less than sixty seconds. If you pass KYC, create a password, and get verified through email, your new Beaxy account will be ready to use.
2. Fund your account on Beaxy
After receiving confirmation that your account has passed the KYC check, you can begin to trade with funds in your account. In order to buy BAT on Beaxy you must have some BTC in your account. If you already own BTC, simply deposit it into your Beaxy wallet. If you don’t have any BTC, go to the Buy Crypto tab on Beaxy and enter the amount you want to spend on Bitcoin. This will direct you to the Simplex portal where you can add your credit card details and complete your BTC purchase.
3. Purchase BAT
Now that you have BTC in your Beaxy account, navigate to the BAT-BTC trading pair, and select the type of order you want to submit. If you want to buy immediately at the best available price, select a market order and enter the amount of BAT that you want to buy. If you want to buy BAT at a specific price or better, select a limit order and enter the highest price you are willing to pay for BAT tokens along with the quantity that you want to buy.
BAT value and price
On 11th June 2020, the price for BAT was 0.246279467133 dollars. Its market cap was 362.46 dollars.
BAT advantages and disadvantages
Advantages
1. Fascinating concept
BAT is looking to get rid of many intermediaries who don’t benefit customers, publishers, or advertisers in any way. The platform eliminates the need to verify and get tracked by other people. The platform does this by using machine learning to give people the necessary adverts. Having a few middlemen implies that publishers get higher revenue. Again, privacy is enhanced, loading happens faster, adverts get delivered efficiently, and people encounter fewer frauds.
2. Powerful team
BAT has a very experienced team. For instance, there is Brendan Eich, who is a respected individual in the online sector. Brendan is involved in Firefox and JavaScript. There is also Brian Bondy, who once worked for Evernote, Firefox, and Khan Academy.
3. A functional product
The Brave browser works well, and it has advanced a lot since it got introduced in 2016. The browser attained its 1st achievement of two hundred and fifty monthly members after one year. From that time, more users have joined, and there are currently more than three million users. Also, the BAT team is analyzing their system adverts, and the results will determine the advancement of their initiative. If the results turn out good, BAT’s vision will become a reality when it begins to generate revenue.
4. Privacy
The privacy feature is what distinguishes Brave from other browsers. The Brave Ledger platform utilizes the ANONIZE algorithm to make people’s browsing details private. The objective here is to maintain transaction transparency while people remain anonymous. Besides that, Brave has integrated Tor (the software that enables communication to take place anonymously) in its beta tab. The Beta feature offers excellent protection for people, not only on gadgets but also on the network because it protects them from hackers.
5. Powerful partnership
BAT has partnered with distinguished companies such as Uphold (a money platform), DuckDuckGo (internet searching engine), and media companies like Townsquare. BAT even started a referral scheme for Twitch and YouTube, and they are allowing content creators to get money via Brave.
Disadvantages
1. Competition
There are few players in the advertising field. However, BAT still faces high competition from distinguished companies like Facebook and Google. Facebook and Google dominate the advertising field; their market share is more than seventy-three percent. The two platforms are well-known amongst advertisers and publishers because they have many users. Besides that, these two platforms’ adverts are native and in line with their search findings and newsfeed. BAT only provides display adverts, which affect its competition on Google Adsense.
Another thing is that BAT depends on Brave. It is difficult for Brave to compete with distinguished browsers such as Google Chrome, and Internet Explorer.
2. Adoption problems
BAT utilizes referral schemes on platforms like Twitch and YouTube to drive the adoption of Brave. But the referral schemes have disadvantages. One of the downsides is that they can bring in people with bad intentions, or low-quality people who leave quickly. Not having the right users who genuinely want to use the service leads to low conversions for advertisers.
3. Questionable decentralization
The white paper indicates that at the start, Brave will regulate BAT token movement. So, BAT looks centralized, but AML/KYC is also under this regulation, and Brave or BAT should comply.
4. Scalability problems in Ethereum
BAT operates on the Ethereum system, implying that it equally encounters scalability problems. Presently, BAT is preventing scalability problems through batching. They put together several transactions to form one enormous contribution to reduce system crowding and charges. Merging transactions work for the people getting their input in clusters each month. But as the system keeps growing, the need for immediate operations may go up. So, BAT needs to find a better solution.
Best BAT wallet – how to choose
To get the best BAT wallet, consider the following features.
1. Ease of use
The best BAT wallet must be simple to use. Some wallets require users to go through many steps to operate, and there are others, which with just two buttons; everything gets done. The best wallets also come with an app that enables people to manage their crypto transactions easily. An excellent example of such wallets is the Ledger Nano S.
2. Safety
Consider an app that can keep your crypto assets safe. An excellent example is the Ledger Nano S. This app is an independently-certified wallet which runs on a secure chip that offers the best security.
3. Cost
Wallets that are free to use are great too. Several open-source apps can be reviewed and updated accordingly, making them perfect for BAT storage. A good example is the MetaMask wallet.
There is also a Brave wallet, which is the most recommended one because it is fully functional. To use it, download the Brave browser and include it as an extension. Since there is a browser, you may add tokens.
Conclusion
BAT is among the high utility-focused token in the cryptocurrency field. The coin offers the best solution for real-life issues, but it still needs some time to attract more users. If everything goes well, BAT is likely to change how adverts providers, users, and advertisers interact.