This morning I received an email from Uphold that reminded me that I could receive my Brave Creator Referral Bonus as either my local fiat currency (USD) or as BAT tokens. As a firm believer in Brave, it has been easy for me to kept it set to BAT however multiple developments I will list below have made me reevaluate.
- Gas fees to move BAT
- Up until July, it was free to transfer BAT from Uphold (the wallet that Brave requires you to use) to another wallet like Coinbase, etc. with the spike in Ethereum gas fees, this was not sustainable. Initially, they were just going to change the fee to 1 BAT per transaction but that did not last and now transactions can cost up to 30-40 BAT
- BAT's value collapse
- The Brave Team has done an excellent job with BAT even with it being a DeFi token, and while typically before the monthly distributions the price goes down in anticipation of new tokens being issued it bounces back from this within the first week or two. Its now been almost two weeks and that has yet to even start to occur.
- Braves distribution issues
- For as long as I have used the browser, which dates back to last year on an old computer, I have always been someone who never had an issue with the distributions. I have watched from the community page as they became more and more prevalent but I chalked it up to people joining Brave and not setting up their setting correctly. The token price was also pretty stable so it was easy to tell the amount of BAT that you would get. In September distributions were a disaster. I had a ton of issues across the board from my Brave creator portal to my two laptops with it on acting up. The whole role out was so bad that they are going to do another payout mid-September to help fix this issue.
Things they did right
- You would think that I would have listed the ad cuts as an issue but if you really care about the program long term it was a necessary evil. The world went into a massive recession in the second quarter of this year and some places are still reeling from COVID. The companies that were advertising are now undergoing huge cutbacks in the amount of money they will spend in that department. This drop-in money spent by companies available for distribution and with more users coming online/using the browser led to a rapid depletion in the amount of BAT that would be set aside. People were getting upset that they had not gotten any ads in days however there was not BAT left to give as the campaign had gone through its money so there was not anything to display. Cutting the amount of BAT per ad was the easiest and best way to take care of this two-sided issue as the companies and economy need to stabilize.
With these developments what am I going to do? Well, it is a tough choice. If the price remains where it is and the gas fees are as high as they are it is pretty hard to justify receiving BAT as I cannot really use it. If I received the payouts in USD the referrals can range from being anywhere for $1.50-$7.50 and this is a lot easier to deploy in the different crypto in Uphold to either hodl or transfer out. For that reason, I will watch my dashboard to see if anyone who has downloaded Brave hits the 30-day mark and becomes a confirmed user thus triggering the payout. With BAT and gas fees as it taking the USD and being able to deploy that over several different blockchains makes it an easier and more cost-efficient route as I can utilize it much much faster.
If you are not using Brave and would like to join my referral link is here and I would recommend it due to the adblocking and anti-tracking within the chrome-based browser.