Get Your BAT Out of Uphold for Cheap

Get Your BAT Out of Uphold for Cheap

By Crypto Wombat | Crypto Wombat | 20 Jul 2021


The Problem

If you're an average user of the Brave Browser, the only way to get your earned BAT into your own hands is through an Uphold account, but most people prefer other platforms to store or earn interest on their crypto. So you make an Uphold account, link it to your Brave Browser, receive your earned BAT at the end of the month, only to find the gas fees are so high you'll likely lose most of your crypto in the transfer.

Why is this the case? Well, BAT is an ERC-20 Token built on the Ethereum network, and recently the gas fees for Ethereum have been extremely high, which also affects all of it's secondary tokens, including BAT.

What can be done? Fortunately, not all cryptos have such high gas fees, in fact, some specialize in having the lowest fees on the market. Stellar (XLM), Ripple (XRP), and Litecoin (LTC) all have extremely low fees that won't take such a huge cut from your hard-earned BAT.

 

The Solution

How do we take advantage of this? Fortunately, Uphold makes it extremely easy to not only swap cryptos, but deposit one crypto into an external wallet of a different crypto. So for instance, sending BAT from an Uphold wallet to another BAT wallet could cost you anywhere from $4 to $10 or even more, while sending BAT from an Uphold wallet to an external LTC wallet would only cost around $0.50. And once you've moved your crypto to another exchange, you can just swap it back to BAT if you'd like for much lower fees or for free with some platforms.

 

How To

1. Open Uphold

2. Select "Transact"

3. Select Basic Attention Token (BAT) in the From field

4. Select the amount you want to send

5. Set a low-fee crypto like XRP or LTC for the destination wallet under "Crypto Networks" in the To field

( Note: Ensure you select a Crypto Network, not a token. Selecting a token will only convert your currency in your Uphold wallet. )

6. Select "Preview Trade"

7. Enter the information of your destination wallet

( Note: Always double check these details to ensure you entered them correctly. There is no way to recover funds sent to a bad or wrong address. )

8. Finally hit "Confirm" and your funds will be sent.

 

That's all there is to it, now you can do whatever you want with your BAT without losing most of it to gas fees.

 

Bonus: Where should I send my BAT?

Wondering what to do with your BAT you've just earned? Here's 2 ideas:

1. If you like Day Trading Crypto, check out Voyager, which lets you make commission-free crypto trades and earn interest if you hold a good amount.

2. If you want to HODL your BAT, consider depositing to a platform where you can also earn interest while waiting for BAT to take off again.

 

May the gas fees be ever in your favor!

- Crypto Wombat

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Crypto Wombat
Crypto Wombat

Just a Wombat in the Crypto Multiverse


Crypto Wombat
Crypto Wombat

Just a Wombat in the Crypto Multiverse

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