How to Buy Basic Attention Token
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Basic Attention Token (BAT) is one of the hottest cryptocurrencies of 2021 – with the project trending across various blockchain circles. The good news is that the process of buying this popular digital asset is not only simple – but it can be completed in under 10 minutes when using a debit/credit card or e-wallet.
In this beginner’s guide, we walk you through the process of how to buy BAT with a low-cost and regulated cryptocurrency broker.
How to Buy BAT – Choose a Cryptocurrency Broker
Plenty of online brokers and exchanges allow you to buy BAT. But, if you’re looking for the very best, the platforms below offer a regulated and low-cost service.
- eToro – Overall Best BAT Broker
If you’re new to any of the above cryptocurrency brokers – you will find comprehensive reviews further down.
67% of retail investor accounts lose money when trading CFDs with this provider.
How to Buy BAT – Quick Guide on How to Buy BAT in Under 10 Minutes
If you’re wondering how to buy BAT in the easiest and most cost-effective way possible – the quickfire below will show you how to complete the process in under 10 minutes with eToro. This popular broker is not only regulated by the SEC, FCA, and others – but you can buy BAT from just $25 on a spread-only basis.
- Step 1: Open eToro Account – The first step is to visit the eToro website and open an account. You simply need to enter your personal information and contact details, alongside a chosen username and password.
- Step 2: KYC – eToro is regulated, so the broker needs to verify your identity. This typically takes no more than 2 minutes at the broker – as you only need to provide a copy of your government-issued ID and proof of address (e.g. bank account statement)
- Step 3: Deposit Funds – The minimum deposit at eToro is $50. You can fund your account with a debit/credit card or bank wire. A number of e-wallets are supported too – including Paypal and Neteller.
- Step 4: Search for BAT – Enter ‘BAT’ into the search box and click on ‘Trade’ next to the correct asset from the list of results that load.
- Step 5: Buy BAT – And finally – enter your stake into the ‘Amount’ box – ensuring that you invest at least
$25. To complete your BAT purchase, click on the ‘Open Trade’ button.
As per the quickfire guide above, you’ve just bought BAT at a regulated broker that offers super-low fees!
67% of retail investor accounts lose money when trading CFDs with this provider.
Step 1: Choose the Best Place to Buy BAT
When thinking about the best way to buy BAT online, you need to do some research on your chosen broker. This is because there are dozens of brokerage sites that support BAT, so you should explore metrics surrounding fees, payment types, regulation, and wallet security.
In the sections below you will find a list of pre-vetted brokers that allow you to buy BAT safely and cost-effectively.
eToro – Overall Best Place to Buy BAT
We found that eToro is the overall best place to buy BAT. This online broker is heavily regulated - with licenses from the SEC, FCA, ASIC, and CySEC. You will find dozens of cryptocurrency markets at eToro, including BAT. Other digital tokens include Bitcoin, Etheruem, Ripple, AAVE, Decentraland, Litecoin, and more. You only need to spend 10 minutes opening an account, depositing funds, and proceeding to buy BAT at eToro - and the platform's interface is easy on the eye.
You can deposit funds with a debit/credit card, Paypal, Neteller, bank wire, and several local payment options. The minimum deposit is just $50 and if you're from the US, you won't pay a single cent in deposit fees. Otherwise, eToro will simply charge you an FX exchange rate of 0.5% on your deposit. Compared to the likes of Coinbase - which charges 3.99% on debit/credit card transactions, this is very competitive.
Once you have added funds to your eToro account, you can proceed to buy BAT at a minimum investment of just $25. eToro also ideal for buying BAT as a beginner as you are not required to withdraw the tokens to a private wallet. Instead, the tokens will remain in your eToro account until you decide to cash out - which you can do 24/7. In addition to BAT, eToro also allows you to buy stocks and ETFs at 0% commission, and trade forex, commodities, indices, and more on a spread-only basis.
We should also make reference to the passive investment tools offered by eToro. For instance, the CryptoPortfolio service allows you to invest in over a dozen digital tokens through a single trade. Each token is weighted based on market capitalization and eToro will regularly rebalance the portfolio. You also have the Copy Trading tool. This allows you to invest in an eToro trader, meaning you will be copying their buy and sell positions like-for-like.
- Buy crypto from just $25 on a spread-only basis
- Regulated by the FCA, CySEC, SEC, and ASIC
- Passive investment tools - such as Copy Trading
- $5 withdrawal fee
Step 2: Open a Crypto Trading Account
Once you have selected a cryptocurrency broker that allows you to buy BAT, you will then need to open an account. When using a regulated broker for this purpose, you will need to provide some personal information, alongside a copy of your government-issued ID. In turn, this allows you to buy BAT safely with fiat money.
To show you how to complete the process with our top-rated broker eToro – follow the steps below:
First, head over to the eToro website and look out for the ‘Join Now’ button. As noted above, you will then need to enter your personal information – such as your name, date of birth, address, nationality, and contact details.
Next, eToro will need you to complete a KYC (Know Your Customer) process.
Two documents, in particular, are needed:
- Government-issued ID, such as a passport or driver’s license
- Proof of address, such as a utility bill or bank statement
Unlike old-school brokers – which rely on manual verification, eToro will automatically validate your documents in real-time. This means that you should have a fully verified eToro account in under 2 minutes.
Step 3: Deposit Funds
Now that you have a verified account with eToro, you can deposit funds with fiat money. The best payment method is to go with a debit/credit card, Paypal, or Neteller – as the funds will be added to your account instantly.
Otherwise, if you elect to use a bank wire, this can take up to 7 working days. Irrespective of your chosen payment methods, the minimum deposit at eToro is just $50.
In terms of fees, US clients are not charged to make a deposit. However, non-US clients will pay 0.5% of the deposit amount. This is the case across all supported payment types.
Step 4: Search for BAT
At this stage of our walkthrough of how to buy BAT, you should have an eToro account that is fully funded. If this is the case, you can now proceed to enter ‘BAT’ into the search box at the top of the screen.
Make sure you click the ‘Trade’ button next to the correct asset, as eToro will display several other markets (such as British American Tobacco).
Step 5: How to Buy BAT
By clicking on the ‘Trade’ button, you will now be presented with an order box like in the image below. This is where you need to enter your stake. The minimum crypto investment at eToro is just $25 – so you can enter any amount equal to or above this figure.
If you fancy trading BAT with leverage, you can select your desired multiple. Take note, this turns your position into a CFD trade, which will attract overnight financing fees.
Finally, click on the ‘Open Trade’ button located at the bottom of the order box to complete your BAT purchase.
How to Sell BAT – Learn How to Sell Basic Attention Token
In adding BAT to your portfolio, you will at some point in the future look to sell. Whether that’s weeks, months, more years down the line, the process will depend on how you originally made the purchase and where the tokens are currently being stored.
If you followed our guide on how to buyBAT at eToro, the tokens will remain in your web wallet until you are ready to cash out.
When this time does arise, the process is as follows:
- Log in to your eToro account
- Head over to your eToro portfolio
- Next to BAT, you will see a ‘Sell’ button
- In clicking it, confirm that you wish to sell
- eToro will then cash out your BAT investment for US dollars
- You will see the proceeds of the sale reflected in your cash balance
However, if your Basic Attention Tokens are currently being stored in a private wallet outside of an exchange or broker, the process is slightly more cumbersome. This is because you will first need to transfer the tokens to your chosen platform, before swapping the funds for fiat money.
Where to Buy BAT
If you’re relatively new to cryptocurrency trading, you might not know that there are actually several ways to buy BAT. This includes going through a regulated online broker or a conventional cryptocurrency exchange.
To ensure you understand where to buy BAT in a safe and secure manner, we compare these two methods in the sections below.
Buy BAT via a Broker
Our research team found that the best way to buy BAT is through an online broker that is regulated by a reputable financial body. As discussed earlier in our broker reviews, the likes of eToro are regulated by the FCA, SEC, ASIC, and CySEC.
Crucially, this means that when you buy BAT from one of the aforementioned brokers, you know that you are doing so in a safe and secure environment. Not only this, but regulated brokerage sites also have the remit to offer fiat currency services. In turn, this means that you can buy BAT with a debit/credit card or e-wallet.
Buy BAT via a Cryptocurrency Exchange
On the other hand, although there are hundreds of cryptocurrency exchanges in the online space, very few are regulated. This is because they choose to locate themselves offshore or elect to have any relationship with fiat currency. This means that you will likely only be able to buy BAT in exchange for another digital token – such as Tether (USDT) or Bitcoin (BTC).
Some investors are attracted to such exchanges, as there is often a lack of KYC or AML procedures in place. This means that you can often open an account and purchase BAT without needing to reveal your identity. However, you should take a step back and ask yourself whether or not you can trust an exchange that fails to take regulation seriously.
Best Ways to Buy BAT
In choosing the best way to buy BAT, this often rests on the type of payment method that your chosen broker supports.
This typically includes the following:
Buy BAT With Debit Card
You can buy BAT with a debit card at eToro without paying a single cent in fees if you’re from the US. Non-US clients pay just 0.5%. At Coinbase, you will be charged 3.99% when buying digital currencies with a debit card. Binance users can pay up to 4%, albeit, this will depend on where you are located.
Nevertheless, using a debit card to buy BAT is arguably the most convenient option on the table, not least because your payment will be processed instantly.
Buy BAT With Credit Card
You can also buy BAT with a credit card when using eToro. The popular online broker does not charge any additional fees for using this payment method. But, your credit card company might.
Also be sure not to get yourself in debt by purchasing BAT with credit, as the price of the digital asset could drop after you invest.
Buy BAT With Paypal
Another option you might want to consider is to buy BAT with Paypal. In a similar nature to debit/credit cards, eToro allows you to use your Paypal account in a low-cost manner.
Once again, you’ll pay a deposit fee of just 0.5% if funding your account in a currency other than US dollars. On the other hand, US clients pay 0%.
Is BAT a Good Investment?
This guide has explained the ins and outs of how to buy BAT in a safe and low-cost manner. However, there are thousands of digital tokens in the online space and not all projects will succeed. With this in mind, it is well worth performing some independent research before you risk any money.
Below we discuss some important factors surrounding Basic Attention Token.
What is Basic Attention Token?
Basic Attention Token – or simply BAT, is a digital currency that was first launched in 2017. The overarching objective of BAT is to create a decentralized advertising industry. At present, creators do not get a deal when publishing their content with third-party platforms like YouTube.
This is because the platform in question will take a huge chunk of any marketing money that the content generates. Additionally, from the perspective of consumers, advertisements are often irrelevant. That is to say, you might have noticed that you are often shown products and services you have no interest in.
These problems are what the BAT project looks to solve. For instance, BAT has created the BRAVE web browser, which allows advertising companies and consumers to connect without the need for an intermediary. This means that consumers will not only be exposed to relevant products and services that they are interested in – but they will be rewarded, too.
These rewards are distributed in Basic Attention Tokens. From the perspective of advertisers, companies can ensure that they are allocating much-needed marketing funds to the right audience. As such, Basic Attention Token and its Brave web browser is a win-win situation for both consumers and advertisers alike.
Basic Attention Token Price
Like all cryptocurrencies, Basic Attention Token can be bought and sold online. The value of BAT will invariably be dictated by market forces. That is to say when BAT is trending and more people are buying – this will have a positive impact on its price. Unless you are using a domestic cryptocurrency exchange or broker, BAT is priced in US dollars.
- When BAT was first launched on public exchanges in 2017, the token was trading at just $0.16.
- BAT hit an all-time high of $1.65 earlier in 2021 – which represents huge gains from its initial listing price.
- Basic Attention Token has, however, since dropped to a level of $1-ish.
As such, this potentially offers a favorable entry point. After all, seasoned investors will rarely purchase a crypto asset when it is trading at all-time high levels.
Should I Buy BAT?
If you’re undecided on whether or not Basic Attention Token is right for your portfolio, it’s wise to do some additional research. In particular, you should look at factors that can impact the value of your investment – both technical and fundamental.
Some of the main reasons why people are currently buying BAT are discussed below.
The first thing to note about BAT is that the digital currency has performed extremely well in 2021 from a price perspective. At the start of the year, BAT was trading at just $0.20 per token. As noted earlier, the crypto asset hit highs of $1.65 – which occurred in April 2021.
This translates to gains of over 720% in just four months of trading. At the time of writing in November 2021, BAT is trading at around the $1 level. Although this is much less than its prior all-time high, this still represents year-to-date gains of 400%.
Low Entry Point
Long gone are the days where you can buy the likes of Bitcoin or Ethereum with a few dollars. On the contrary, these digital currencies have since surpassed highs of $65,000 and $4,000 respectively.
BAT, on the other hand, is still trading at a highly favorable price of just $1-ish. This means that if you were to go through a broker like eToro – which requires a minimum investment of just $25, you would get yourself 25 Basic Attention Tokens.
Huge Advertising Industry Needs Revolutionizing
The global online advertising industry is reportedly worth hundreds of billions of dollars each and every year. However, many argue that this marketplace is in dire need of revolutionizing. After all, companies are known to waste vast resources sending out marketing campaigns to the wrong people.
- And in turn, everyday consumers are becoming tired of having to view irrelevant products and services that they have no interest in.
- This is where Basic Attention Token and its Brave browser step in.
- In a nutshell, through the Brave browser, BAT ensures that advertisers are displaying their promotions to the right audience.
- Consumers are subsequently rewarded when exposed to such ads through the BAT token.
If this innovative idea eventually takes off, then this is all but certain to have a positive impact on the value of your BAT investment.
Risks of Buying BAT
Before you complete the process of buying BAT, you should consider the risks involved. Like all investment decisions, you need to remember that there is always the chance that you will lose money. This will happen if you sell your BAT investment at a lower price than you originally paid.
In particular, digital assets like BAT are inherently volatile, with daily pricing swings of 10%+ are still not uncommon. You also need to consider the risks of storing BAT in a private wallet. After all, if your wallet is hacked or you misplace your private keys, you stand the risk of having your tokens stolen.
How Much Does it Cost to Buy BAT?
When learning how to buy BAT from an online broker, you will quickly see that fees and commissions will vary from provider to provide. As such, this is an important point of consideration to make when searching for the best place to buy BAT.
The main fees to look out for are as follows:
Depending on how you intend on funding your BAT investment, you might need to pay a deposit fee. For example, if you proceed to buy BAT at Coinbase, debit and credit card payments attract a fee of 3.99% – which is huge.
On the other hand, you also have low-cost brokers like eToro, which charge 0% on USD deposits and 0.5% on all other currencies. Most brokers and exchanges in this space offer a significantly lower price when opting for a bank wire.
Once you have loaded your account with funds, you can then proceed to buy BAT. However, you can be sure that your chosen provider will charge you a trading fee for facilitating the purchase on your behalf.
At Coinbase, you will be hit with a trading fee of 1.49% – which is charged both when you buy BAT and when you sell. At eToro, you will only pay the spread to trade cryptocurrencies – which starts at 0.75%.
We mentioned earlier that both eToro allows you to trade BAT via CFDs. In turn, this allows you to apply leverage. If this is something that interests you, just remember that crypto CFDs attract an overnight financing fee. This is charged for each day that you keep the position open.
How to Buy Basic Attention Token (BAT) – Bottom Line
This beginners guide has covered everything there is to know when learning how to buy BAT safely and in a low-cost manner. We explained that eToro is the go-to broker in this respect – both in terms of fees and regulation.
After all, eToro is not only regulated by bodies like the SEC and FCA, but you can buy BAT on a spread-only basis. Payment methods such as Paypal and debit/credit cards are supported too – so the end-to-end investment process should take no more than 10 minutes.
67% of retail investor accounts lose money when trading CFDs with this provider.
Can I buy BAT coin?
Yes, you can buy BAT coin from an online broker that supports this digital token.
Where to buy BAT?
The best place to buy BAT is from a regulated broker like eToro. This popular trading site allows you to buy BAT on a spread-only basis and at a minimum investment of just $25.
Is BAT a good investment?
BAT has generated huge returns in 2021 – hitting highs of $1.65. However, there are thousands of digital currencies in this industry, so knowing which projects to invest in can be a challenge. It’s best that you perform some research before risking ay capital.
Can you buy BAT with a credit card?
You certainly can. However, you first need to open an account with a broker that supports credit card payments. After uploading a copy of your ID, you can then proceed to buy BAT with a credit card. eToro is one such option here – which charges just 0.5% on credit card deposits (and 0% for US clients).
What price is BAT?
The price of BAT moves up and down on a second-by-second basis. At the time of writing in late 2021, the digital token is averaging a pricing level of $1.