Basic Attention Token (BAT) - Why it is good token?
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Basic Attention Token (BAT) - Why it is good token?

By peterurb | Peter Urban | 13 May 2020


ERC-20

For me, ERC-20 tokens are not very popular. There are thousands of them and only a few of them had some success. Also, they have little market capitalisation so for 1 USD you can buy millions of them which is hard to count.

When I tried to provide liquidity and earn about 150% APR (click here to know more) I tried to look at some DATA token. It had about 5 US cent price and I found, that it is made as some money. Cars will pay for some data as where are nearest pumps and other companies will pay cars to get data about traffic. It can be a good plan, but I am sure, that no one will use it. At first, they have only the concept. Why they didn't ask some car company if they will cooperate. And why do they have to pay in their token? Why not in ETH or some stablecoin as DAI. That's why I sold it when I had a chance.

Also, I don't like paying fees in ETH. When it is a good project they can make their own blockchain. Like BNB, which was formerly ERC-20 token, but they switched to Binance chain platform. And in ETH are quite high fees, cause I don't think, that it is cheap on blockchain to pay 2 US cents for the transaction. In many other blockchains it is much lower.

But to have ERC-20 token is good also, cause you just need 1 wallet and there are thousands of Dapps. Everything is supported and also there is specially Gastoken which can lower your fees.

Idea

At this token it is simple. Advertisers are paying BAT tokens and when an ad will be shown person will get 70% of the whole reward and 30% is going to Brave (I will explain). Also, they added to the whole scheme publishers and when they will register and prove, that it is their website/YouTube channel they will be able to get donations from people. People can set-up how much do they want to donate, or Brave will divide parts, by how much was that person on that channel/site.

Why it is better?

They have to build infrastructure now. They have their Brave browser. It is built on the Chromium web engine which is same as Google Chrome uses. It has also a slightly different design than Chrome, but it is easy to switch. It is also working great against ads. It is showing some, but only that for which they got paid. It is good when you are watching some movies illegally and you are at the site where at every click opens pop-up. And also they have mobile versions, which are working almost the same.

Some minuses

You can't withdraw BAT token from mobile browsers now, but Brave rewards are still active and you can earn money and withdraw them later. Also when you want to withdraw money from Brave at computer prepare your ID. You have to register at Uphold exchange and they also need your ID. Then you can withdraw your BAT to your wallet at that exchange. But you will be able to buy crypto for fiat and they have good fees.

Also, now you don't have access to private keys from your wallet. That means, that someone from Brave browser can take all your money from rewards and you can't do anything. But I am sure, that they are working to make it more decentralised or minimally without KYC.

Is it a good time to buy it?

I think, that if you believe in this token you should buy it. It if is really good people will in next alt season buy it and you can get even higher than at ATH - a few cents under 1 USD. Or if you want to wait until some lower price you can make an account at some exchange and set up some Limit order (an order which will execute at a specific price) and then you will just wait until some drop. But I think, that best way it to HODL it and if you want to trade it is better to do some test orders to check if you are a really good trader. 

But do not think, that sometimes it can have 100 USD. I am sure, that this token can have max. 10 USD in the next 20 years and cause of inflation can price rise more, but token will be still great. 

The line

I am sure, that BAT token will have a good future, cause of its technology. It is not the only concept which even I can make and sell that token at ICO, earn money and leave the whole project. But even here it is not at the end and I am sure, that at a time when you are reading this article is some person who is improving this browser.

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peterurb
peterurb

I hate fiat and love crypto and tennis. I love my wife and 2 kids.


Peter Urban
Peter Urban

I am writing about some interesting things in crypto community and also about basics of crypto.

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