So you are wondering how to buy BAT easily?
If that’s the case, then you’re in the right place.
There are countless cryptocurrency exchanges out there that are NOT safe to use.
To save you from trouble, in this guide we compare the two safest and fastest ways to buy BAT.
Let’s dive right into it!
How to buy BAT on Coinbase with USD, EUR or GBP
Coinbase supports most of the larger cryptocurrencies and puts a large focus on compliance, which means that you won’t find any cryptocurrencies on Coinbase that could potentially be unlawful.
- Competitive BAT price
- Very easy to use
- Offers a safe way to store BAT after buying it
- Trading fees a bit higher than the average exchange
Step-by-step guide to buy BAT on Coinbase
Step 1: Create an account on Coinbase
The first step is to create an account on Coinbase. This is very easy and won’t take you more than 1 minute. After passing KYC, setting a secure password and confirming your verification email, you are now ready to start using your Coinbase account.
Step 2: Deposit some USD or EUR on Coinbase
Now that you finished creating your Coinbase account, it’s time to deposit USD or EUR to the exchange in order to buy BAT. In order to do so, you first need to click on the “Accounts” tab.
When you’re on the “Accounts” page, you will see a list with all of the coins/currencies that you can deposit on Coinbase. You now need to look for USD or EUR and click “Deposit”. Now you only need to enter your bank details and you are good to go.
USD and EUR deposits are usually processed in 2-3 days, it may take a little longer during times of extremely high traffic on Coinbase.
Step 3: Instantly buy BAT
As soon as your USD or EUR deposit arrives, you are now ready to buy some BAT!
Now you need to go back to the homepage of Coinbase and look for “Basic Attention Token”. Note: you may have to click on “Discover more assets” if you can’t see Basic Attention Token directly on your homepage.
After you click on “Basic Attention Token”, you will now see a chart with the price of BAT, basic stats and information about the coin, and of course a button to purchase the coin. Now simply select the amount of BAT that you want to buy, click “Buy BAT, and that’s it!
Step 4: That’s it!
That’s how easy it is to buy BAT on Coinbase. The BAT you just bought will now show up on your “Accounts” page. For additional security, it is always recommended not to leave any coins on exchanges. You can withdraw your BAT to an external ERC-20 compatible wallet like MyCrypto, or to a cryptocurrency hardware wallet like Ledger Nano S or Trezor.
How to buy BAT on Binance with Bitcoin
Binance is the largest, and according to a recent poll, also the most trusted cryptocurrency exchange. The key difference to exchanges like Coinbase is that on Binance you can only buy cryptocurrencies by using Bitcoin or Ether.
Binance is not only easy to use, but it is also very safe and fast in processing transactions. At the time of writing, this exchange is also the largest market for Basic Attention Token (BAT), meaning that you can even buy a large quantity of BAT without affecting the price too much.
- Highly competitive BAT price
- Very low trading fees
- Advanced trading features
- Not as simple to use as Coinbase
- Only enables you to buy BAT with BTC and ETH
Step-by-step guide to buy BAT on Binance with Bitcoin
Important: This guide assumes that you already have some Bitcoin or Ether and that you know how to send BTC or ETH transactions.
Step 1: Create an account on Binance
The first step is to create an account on Binance. This is very straightforward and shouldn’t take you more than 1 minute. After setting a secure password and confirming your verification email, you are now ready to start using your Binance account.
If you want to increase your account’s security, head over to the “settings” page of your Binance profile and activate “2 Factor Authentication”.
Step 2: Deposit some Bitcoin or Ether on Binance
Now that you finished creating your Binance account, it’s time to deposit some Bitcoin or Ether in order to purchase BAT. In order to do so, you first need to hover your mouse over the “Funds” tab, and then click on “Balances”.
When you’re on the “Balances” page, you now simply need to look for the coin you want to deposit, in this coin Bitcoin or Ether, and click “Deposit”. Binance will now show you an address that you need to send your coins to.
Ether deposits are usually processed in under 10 minutes, Bitcoin deposits may take up to 1 hour when the network is very busy.
Step 3: Place an order on BAT/BTC or BAT/ETH
As soon as your deposit arrives, you are now ready to buy BAT!
Now you need to go back to the homepage of Binance and look for the trading pair in the coin you deposited. If you deposited Bitcoin, you would look for BAT/BTC. If you deposited Ether, you would look for BAT/ETH.
After you click on the trading pair of the currency that you deposited, you will see a chart with the price of BAT. Simply scroll below the chart to the box that says “Buy BAT”. Then type in the number of BAT that you want to buy, the price you want to buy at, and click on the “Buy BAT” button!
Step 4: That’s it!
That’s how easy it is to buy BAT on Binance. The BAT you just bought will now show up on your “Balances” page. For additional security, you can now withdraw your BAT to an external ERC-20 compatible wallet like MyCrypto, or to a cryptocurrency hardware wallet.
What exactly is BAT?
Basic Attention Token aims to improve the efficiency of digital advertising by creating a utility token on the Ethereum blockchain that can be exchanged between publishers, content consumers, and advertisers.
The project states that “attention” is one of the most valuable resources in the online world, and Basic Attention Token aims to become a medium of exchange for it.
This fact combined with the potentially disruptive concept the project is trying to bring to life was probably part of the reason why BAT’s ICO sold out in just 30 seconds back in Summer 2017.
Furthermore, BAT is also the coin powering the “Brave” browser, which currently has over 10 Million downloads in Google Play Store alone.
Is it worth it to invest in BAT?
Basic Attention Token aims to take on the global online advertising industry, a $200 Billion market. Capturing just a portion of this value could result in a significant price increase of the BAT token.
If the BAT ecosystem starts gaining more adoption and expands outside of the Brave browser (which in itself is already huge), large ad corporations might start getting interested in this new technology. They will realize that by launching their ad campaigns on BAT, they can not only target users more effectively but also save money by filtering out fraudulent actors like bot networks.
However, in order for ad corporations to participate in the BAT advertising network, they need to buy BAT. If this comes true, we are not talking about small BAT buy orders, but multi-million dollar bulk orders since these corporations often launch marketing campaigns costing tens of millions.
Furthermore, since BAT is an asset that fluctuates in price just like any other commodity, there might be an incentive for ad corporations to stock-up on BAT early to potentially get a better price for their advertising budget. This could cause BAT to rally even before the ecosystem grows to its full extent.
Example: Ad Corporation XYZ buys $5 million worth of BAT today, in 1 year the price of BAT increases by 10x and now these $5 million are worth $50 million. This means that Ad Corporation XYZ can now run 10x more ads.
It’s fair to say that since the day of the ICO, BAT’s price on exchanges has not moved significantly yet. However, the strong value proposition of BAT, together with a strong team and the fact that it is listed on every major cryptocurrency exchange, could make it a great buy at these levels. That being said, this is not investment advice and please do your own research making any investment.
How to store Basic Attention Token (BAT) safely?
After you bought your BAT, you may now ask yourself how you can store your coins safely. The first security tip is to withdraw your coins from exchanges into an external wallet. Since BAT is still an ERC-20 token, you can use MyCrypto.com for this.
For additional security, you should consider purchasing a cryptocurrency hardware wallet. We have written a detailed guide on the benefits of cryptocurrency hardware wallets, make sure to check them out if you want to learn more about how you can keep your BAT safe.
What is your favorite way to buy BAT? Did we miss any important exchange or tip for how to easily buy Basic Attention Token? Please let us know in the comment section below!
CoinDiligent Staff Writer