ERC-20 Tokens Can Be Easy to Execute or the Bain of Your Existence. This Article Will Help Safely Move Your BAT to the Atomic Wallet.
BAT and Your Atomic Wallet
I hope you're in the same place as many who see the total utility of the Brave browser and understand the power it possesses. The ability to control your data, selectively share browsing content as well as engage in the blockchain sphere is nothing to scoff at.
Quite the contrary, it is absolutely brilliant. The advent of the Basic Attention Token puts the power of your gaze back in your hands.
When it comes to BAT and many other ERC-20 Tokens, the thought of moving tokens from one wallet to another can be quite overwhelming at first. That's where I would like to help. There are a few things that will absolutely help with the process and get you where you need to be, faster. More importantly, safely.
Nothing worse than lost tokens, compromised seeds, or just a mistaken transaction that does not end up where it needs to be. Now Read On! This will definitely help!
The ERC-20 Tokens
First let's set a little background content. It can be overwhelming at first when you start looking on how to deal with ERC-20 tokens and the horror stories of lost tokens are many. I think it is important to take just a moment and see what other sources say about ERC-20 tokens in general.
On Cointelegraph you will find a description something like this:
ERC-20 tokens are tokens designed and used solely on the Ethereum platform.
They follow a list of standards so that they can be shared, exchanged for other tokens, or transferred to a crypto-wallet.
The Ethereum community created these standards with three optional rules, and six mandatory...
Now that we understand that these tokens are generated strictly for the Ethereum network A logical follow-up question is why? Why do we even need these, what are they for and back to WHY?
On Blockchain.com you will see a quick explanation that covers:
- Why ERC20?
- ERC20 is an official protocol for proposing improvements to the Ethereum (ETH) network. ERC stands for Ethereum Request for Comment, and 20 is the proposal identifier. This is a common standard for creating tokens on the Ethereum blockchain.
- This token standard defines a set of rules that apply to all ERC20 tokens that allow them to interact seamlessly with one another.
- Wallets and exchanges use the standard to integrate various ERC20 tokens onto their platforms and facilitate exchanges between ERC20 tokens and other cryptocurrencies.
Finally, from Investopedia:
The popular cryptocurrency and blockchain system known as Ethereum is based on the use of tokens, which can be bought, sold, or traded. In this case, "tokens" represent a diverse range of digital assets, such as vouchers, IOUs, or even real-world, tangible objects. In this way, tokens are essentially smart contracts that make use of the Ethereum blockchain.
- The popular cryptocurrency and blockchain system known as Ethereum is based on the use of tokens, which can be bought, sold, or traded.
- One of the most significant tokens is called ERC-20, which has emerged as the technical standard used for all smart contracts on the Ethereum blockchain for token implementation.
- Because the ERC-20 standard remains relatively nascent, there will likely be bugs that need to be worked out, as Ethereum continues to develop.
Now that we know ERC-20 tokens are predominantly for smart contracts on the Ethereum network and are designed to clean up a handfull (6) different areas. Let's look at what is really the challenge that comes with beginning to involve yourself with these transactions and how to Safely Move Your BAT to the Atomic Wallet.
Over the next few paragraphs the steps will be listed out on how to send your BAT from the Brave Browser or from Publish0x and send it to your Atomic Wallet. The steps for each have the same root with just a slight addition or subtraction overall. You will be amazed to see how quickly the process unfolds.
These are just recommendations. If you find a better way carry out these transfers, by all means do it. Personally I think this is a very simple transaction and carries the least amount of cost. My preferred alternative is with no transfer costs.
Are you ready to read it? Ok, let's go.
I'm making a few assumptions here that will align with this process. Modify as needed, but I'll list them out next:
- Atomic Wallet either mobile or desktop client downloaded and installed
- Brave Browser downloaded and installed
Brave to Atomic Wallet
Step 1 -
From the Brave browser, be sure to click on the reward settings from the BAT icon in your address line and click on withdraw funds.
When you set up your Uphold account it will have prompted you to connect through Brave Browser so the amount you are withdrawing will show in your uphold account.
Step 2 -
Now that you have linked over to your uphold account you will be showing a home page something like this:
From here you have all sorts of options, but let's stay focused on how we send to Atomic Wallet.
NOTE: I highly recommend using Google authenticator or any of your choice for second level authentication. It's free and adds an extra layer of security and peace of mind.
So when you are at the Uphold page, click on the "Send to Cryptocurrency or Utility Token".
Step 3 -
You will be taken to the following page. It's much longer, but I have only added what you need. Your focus is BAT.
After you select BAT, you will be taken to the final screen.
Step 4 -
There are two critical components of this step to be successful.
- First you will need a destination. When you use Atomic Wallet, the only thing you will need is your Ethereum (ETH) address that is assigned to you within the wallet. Nothing else is needed. Atomic Wallet automatically identifies the funds as Brave BAT and correctly identifies them in your wallet.
- The second and last piece to make this happen incredibly smooth is the amount. I have heard and read that some have tried to identify the actual fiat amount, when what is really needed it the correct amount of BAT.
- Confirm the 2 requirements above and click confirm. You will be amazed at how quick the transaction takes place. Plus, in my experience, there has been zero fees involved.
Publish0x to Atomic Wallet
For Publish0x, the process is even simpler. There are just a few steps, but in general what is needed is the ETH address from Atomic Wallet is added to the author's profile in Publish0x.
Once the 42 character address is added the only step needed is to click the "withdraw" button. At that point a confirmation email is sent. The following Monday the funds are processed with most receiving by the following Tuesday.
NOTE: Publish0x tips are generated in ERC-20 tokens. The same ETH address from Atomic Wallet is used for all of the ERC-20 tokens. Atomic Wallet organizes and displays the different tokens separately in the wallet.
If there is any question throughout the process firstname.lastname@example.org is very responsive and always seeking to find a solution. It is a streamlined team, so don't expect push button response. That being said, most who have experience with Atomic Wallet say that they have never gone more than an hour without a response.
Try calling an airlines or even your bank. Seems like Atomic has the customer service down for what they offer.
NOTE: Be sure to check out exclusive resources and bonuses for readers on my blog at https://www.bryri.com/resources