How to Buy BAT in Australia – Buy BAT in Under 5 Minutes

We are seeing crypto rallies in the market by new and impressive blockchain projects every day. BAT (Basic Attention Token) is the name of the token that powers the innovative Brave browser with a high-reputation founder behind it and this project has been in the spotlight for very good reasons. For those considering how to buy BAT, the first vital step is to ensure that you choose a trusted platform.

Here we have curated a list of the most eminent crypto exchanges in Australia where you can buy BAT tokens and continue your crypto trading journey hassle-free.

#1 Crypto Exchange Australia – eToro

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  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
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How to Buy BAT in Australia – The Quick Four-Step Strategy

  • Step 1: Sign up to eToro: Use our recommended broker as the preferred place to start with
  • Step 2: Verify your ID: Upload your government-issued ID documents onto the platform to verify your identity.
  • Step 3: Deposit fiat funds: Make your first deposit, ensuring the amount you add is no more than you are willing to lose.
  • Step 4: Buy BAT in Australia: Search for BAT on your chosen platform and buy BAT.

Where to Buy BAT in Australia

As crypto adoption continues to grow in Australia, reportedly one in six Aussies already own a cryptocurrency. One concern over altcoins is usually the use-cases and volatility around the token prices.
In the case of Basic Attention Token (BAT), we are actually seeing a state-of-art implementation of blockchain technology embedded in an internet browser. BAT tokens enable advertising via BAT crypto token right on the platform. Given the massive volume of online advertising and great momentum Brave browser achieved to gain, BAT token is becoming a strong altcoin speculation candidate.

So, how can traders and investors buy BAT in Australia? We created clear instructions for anyone in Australia who might be interested in buying this powerful token and included some of the best crypto exchanges where it can be done.

1. eToro – Overall Best Broker to Buy BAT in Australia


Are you a beginner or an intermediate trader? Then, eToro might be the best choice for you. It is a multi-asset brokerage company that offers many different trading solutions including crypto. eToro is also a social trading platform where you get to interact and communicate with fellow investors. You can post and even comment on the newsfeed of other traders on the platform.

One of the enjoyable features of eToro is that they have an option of Copy Trading through which you get to mimic the trades of known successful investors. It is free to make an account on eToro and deposits are also free of charge on this platform.

On eToro, the spreads include a small trading fee so every time you buy or sell a crypto asset you will buying and selling based on this spot market spread. For example, if you are buying BAT, you might be able to bid at $0.74 while you can offer at $0.76. This spread helps the platform create revenue for the innovative services they offer while you can enjoy having liquid markets to trade-in.

Cost for crypto assets vary based on cryptocurrency and spreads also change dynamically based on each asset. If trading terminology is too complicated for you, you can easily start a demo account with a virtually deposited $100K. This allows an opportunity to rapidly practice trading fundamentals as well as advanced strategies.

The brokerage platform offers more than 90 cryptocurrencies and many of which are popular blockchain projects. As explained above, eToro doesn’t charge commission on trades and the required fees are included in the spread cost, which is reasonable.

The minimum deposit limit is $250 on eToro and the platform offers many accepted payment methods such as Bank Transfer, Credit card, Debit card, PayPal, and POLi. They also provide trading apps operating on both iOS and Android. eToro AUS Capital Limited is regulated by AISC under License number 491139.

Pros

  • Accepts global fiat currencies including AUD
  • Funds can be deposited via bank transfers as well as credit cards
  • Copy-trading can be a profitable option for some investors
  • Demo accounts help with practising trading

Cons

  • There is a fee for currency conversions
  • User interface might take some getting used to

67% of all retail investor accounts lose money when trading CFDs with this provider.

2. CoinMama – Best Exchange in Australia for Low Fees

If you want easy and stress-free trading with low trading fees, CoinMama can be another ideal option for you. It is an internationally known crypto exchange. The company has made it very simple to purchase cryptocurrency in exchange for fiat currency. Founded in 2013, CoinMama aims to be the simplest crypto exchange to trade on.

Trading fees on CoinMama vary from 2.9 to 3.9%. However, there is also a 5% service fee that occurs during checkout. You have to be mindful of the fee structure before starting to trade on the platform. CoinMama covers many popular cryptocurrencies such as BTC, ETH, ETC, BCH, LTC, ADA, QTUM, XRP, XTZ, EOS and BAT. They accept payment methods like bank transfer, credit card and cryptocurrency transfers. The operating fiat currencies at CoinMama are USD, EUR, AUD, CAD, GBP, JPY. So, if you are in Australia you can use your local currency to make deposits and cash out in AUD.

CoinMama has a shortcoming that might be a deal-breaker for some, which is having no functional mobile app. The minimum deposit limit is as low as $60 but their fee prices seem a bit high compared to other exchanges. Having said that, CoinMama provides good security and convenient deposit methods such as Debit and Credit Cards.

Pros

  • Offers numerous fiat currency options to choose from
  • Operates in more than 180 countries
  • Credit and Debit cards are accepted
  • Customer support includes live chats
  • Offers non-custodial wallets -you can have crypto funds in your possession-

Cons

  • Higher fees
  • No mobile app
  • No social trading

67% of all retail investor accounts lose money when trading CFDs with this provider.

3. CEX.io – Best Crypto Exchange to Buy BAT in Australia with Advanced Security Features

If you are looking for another valid crypto exchange option, then, CEX.io can be a good alternative. It is one of the oldest crypto exchanges in operation. Having served over a million traders and investors, CEX is quite reputable when it comes to security and customer support. They also claim that they have never lost a single penny of their customer’s funds.

CEX.io offers protection against DDoS attacks, full data encryption and cold storage for crypto funds. Aside from being a crypto exchange, they also offer margin trading, crypto loans and staking features. CEX.io supports four fiat currencies which are Euros (EUR), British Pounds (GBP), Russian Rubles (RUB), and U.S. dollars (USD).

The deposit and withdrawal methods are by credit or debit cards and direct bank deposits through SWIFT or SEPA payments. The minimum deposit limit is 20 EUR or 20 USD and unlike CoinMama they have a nice mobile app too.

Pros

  • Offers Several payment methods
  • Has high-trading volume and liquid markets
  • Provides good security measures
  • The interface is minimalistic and intuitive

Cons

  • Relatively expensive
  • Limited currencies

67% of all retail investor accounts lose money when trading CFDs with this provider.

Purchasing BAT – Is it a Good Investment?

Today, crypto is already being used by developers, businesses, individual customers and investors worldwide. Crypto-assets are being traded, purchased, and sold on exchanges every day. This means crypto is here to stay and become a part of our lives.

Brendan Eich, the co-founder of Mozilla and Firefox, must have realized this economic and technological development early on that he invented the Basic Attention Token (BAT) to leverage blockchain technology by enhancing the security, fairness, and efficiency of digital advertising. BAT token powers the Brave web browser which has a rapidly growing active user base and BAT token act as its native coin in this ecosystem.

The Basic Attention Token (BAT) has a total of 1.5 billion token maximum supply and virtually all of which are in use right now. During the 2017 ICO, 1 billion BAT tokens were sold to investors. The remaining 200 million BAT coins were allocated to a development pool, while the remaining 300 million BAT coins were set aside for a user growth pool.

According to a white paper, when the token was launched, it was targeted to raise $24 million. The token hit its all-time high in mid-April 2021 when it was traded at around $1.52. BAT has a 99% circulating supply, which equals approximately 1.49 billion BATs in circulation. The BAT exchange rate is set at approximately 6,400 BAT per ETH as this article is being written.

It’s always a tricky act to forecast the future however, a fantastic founding team, an innovative blockchain technology, a solid trade activity and an actual product that people love and use can be attractive points many investors and speculators are looking for. Of course, regardless of how good they look, new technologies and speculations, in general, can go in the opposite directions so every investor should do their risk management and due diligence carefully.

The Advantages of Investing in BAT

Serious partnerships: BAT project appears to be on track and has attracted several serious partners. Verizon, eToro, Nexo, Purple, Upland, and BlockFi are just a few of them. As more and more partners join the platform, it continues to secure its business position in the market as an innovative solution.

Reward incentives: BAT differs from the other coins in a few ways. The tokens may be purchased using fiat money, but they can also be obtained without it. Brave browsers allow marketing if you opt-in for it and this is attracting many users’ attention. Hence, instead of wasting your time on other platforms while being forced to view ads for free, you can actually watch commercials and earn BAT tokens using the Brave browser.

Growth stage: BAT is a cryptocurrency that is still in its infancy. Its price is currently at $0.7, which is still almost half of its initial ATH. At this pricing, anyone may be interested in investing in a few tokens and wait for them to potentially grow in value. Crypto investors may be inclined to save a few dollars that they would have spent on coffee or beer and instead get some coins in an early-stage project.

CEX listings: Coinbase and Binance are two of the most common cryptocurrency trading platforms. It’s typically quite tough to have a cryptocurrency listed on these platforms, especially for new currencies with low market capitalization it’s even harder. BAT appears to have impressed these big exchanges, as it has been selected for inclusion on Coinbase ahead of several other cryptocurrencies.

Capped supply: There will be no more coins created after the maximum supply has been reached. Thus users will have to split the 1.5 billion tokens that are already in circulation. Because BAT advertising is becoming more popular through Brave browser and they are drawing more users, demand for the tokens is expected to rise.

High liquidity: A cryptocurrency with a large trading volume is usually considered liquid. In layman’s terms, it means that if you’re a spot trader, you can easily buy or sell the tokens you are holding. You may simply exchange your BAT tokens for fiat money in today’s market conditions.

Valuable crypto: It might relatively be attractive to hold some BAT coins for many crypto investors. And with a market value of about $858 million at the time of writing this article, BAT has managed to stay afloat despite the recent crypto market downturns while many other altcoins have actually failed.

The Disadvantages of Investing in BAT

Competitive field: Even though BAT has a small number of on-chain competitors, it still faces stiff competition from behemoths like Google and Facebook who may adopt blockchain in near future. They theoretically control the online ad scene with a market share of over 73%. BAT’s popularity is primarily due to Brave’s adoption (at this stage). Competing against well-known browsers like Google Chrome, Internet Explorer, Safari, or even Eich’s old business, Firefox, can be a difficult challenge for BAT. As a result, the team might need to enhance BAT’s functionality in other browsers, platforms, and apps and promote broad acceptance.

Questionable conversions: BAT employs referral systems across many platforms, including Youtube, Twitch, and others, to encourage the broad adoption of their ads. These marketing strategies, however, can have drawbacks. The controversial Pay to Surf strategy, introduced in the late 1990s, isn’t always a success. Despite its potential to increase adoption, the incentive may attract ill-intentioned users motivated by a desire to make fast money by manipulating the system rather than a genuine desire to buy or use the product making the ecosystem less effective.

Network limitations: Because BAT is based on the Ethereum network, it has scalability difficulties and would benefit from a scaling solution for Ethereum, such as Plasma or Polygon MATIC. Currently, BAT addresses this issue by batching many transactions into a single big transaction in order to reduce network congestion and costs. It works for users and publishers who only get their contributions once a month in a batch so far. However, as the network expands, there may be a greater need for rapid transactions. As a result, this is a problem that the BAT team should bear in mind in the future.

How Much Does it Cost to Buy BAT in Australia?

The price of Basic Attention Token has risen by approximately 25% since the beginning of October 2021. In mid-October, BAT token price is around $0.7, nearly 30% less than its recent high-point $1 which occurred on September 6, 2021. The current price of a BAT is around 07.5 USD. In Australia, BAT can be purchased using local currency Australian Dollar and the cost will be approximately $0.96 AUD since AUD is less valuable per unit compared to the US Dollar.

The price of Basic Attention Token is sitting at 54.58% lower than its all-time high level of $1.65. Currently ,there are now 1,490,668,092.447 BAT in circulation.

Purchasing BAT – How to Pay for It

After learning more about BAT token and Brave browser, some of the pros and cons of buying BAT token and some of the technologies it’s based on and solutions it offers, you might want to know how to buy BAT tokens and how to pay for this purchase.

We have created this section to elaborate on the different payment options that can be used to buy BAT tokens on various crypto exchanges. Different payment methods are important to know since they offer different levels of convenience for different users and payment methods might entail different fee structures.

Paypal

Paypal is an innovative digital money solution that integrates with banks and credit/debit cards. If you are already a Paypal user, you might be inclined to use your funds on there at the convenience of logging in to your Paypal account.

eToro is one of the few innovative brokerage firms that has integrated Paypal into their platform hence it offers great simplicity to anyone willing to use Paypal to fund their trading accounts. Additionally, eToro doesn’t charge any fees on deposit transfers which means deposits can be made without losing any funds to transferring fees or similar charges.

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Direct Transfers

Direct transfer is another popular payment method to top up your crypto exchange account. It is fairly simple to make direct transfers between your bank and trading platform but you need to follow related instructions carefully.

For direct bank transfers, you need to make note of the instructions listed on your cryptocurrency trading platform’s bank transfer section. A common procedure used by trading platforms is to provide bank account details in addition to a MEMO note which will be used to identify your transfer and channel the incoming funds to your account on the trading platform accordingly. To purchase BAT tokens you can usually follow steps similar to the ones below:

  • Choose the “direct bank transfer” option from within your trading account
  • Choose the currency for making the transfer accordingly
  • Get bank account details from the crypto trading platform
  • Make sure you include “Note” or “Memo” value that will be used to identify your transfer
  • After the money is deposited in your trading account, proceed to buy BAT tokens.

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Buy BAT using a Credit/Debit Card

You can also buy BAT tokens using credit or debit cards. This option is particularly attractive if you are in a rush and you can’t afford to wait for the bank transfer to clear (which might take anywhere from a few minutes to a few hours depending on the bank and the exchange).

Although card payments usually incur a percentage of fees anywhere between 1% to 4%, it is still a commonly used method since many people enjoy the practicality of this method. You can follow simple steps that resemble the ones below to top-up your trading account before purchasing BAT tokens:

  • Select “Buy Crypto via Credit/Debit Card.” sections on your trading platform.
  • Fill the boxes with your card details as well as the amount you’d like to transfer
  • Finalize by clicking the submit or deposit buttons.
  • You will be ready to use your funds to purchase BAT tokens almost instantly

Today, the majority of the crypto exchanges accept either Visa or MasterCard and usually both.

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How to Buy BAT – A Full eToro Guide

Step 1: Signup for an Account on eToro

eToro is a powerful crypto trading platform that can be suitable for both beginner and advanced traders and it’s a great platform to start buying BAT tokens. To save time during the sign-up process, you can prepare the documents below which will help you have a speedy verification and account activation.

  • Full Name
  • Date of Birth
  • Government-issued picture ID/Passport
  • Image of a recent utility bill to verify your address

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Step 2: Verify your Trading Account

Account verification is a KYC (Know Your Customer) and AML (Anti Money Laundering) related crypto exchange obligation around the world. Verification process is simple and requires users to provide images of a few documents such as government-issued ID, selfie and a utility bill to verify their address. If everything goes well, your account will be verified in around 15 minutes and you will be ready to start making cryptocurrency trades including BAT tokens.

Step 3: Fund your Trading Account

After your account is verified and the KYC process is concluded, you will be closer to being able to purchase BAT. One more step required before this stage is making fiat deposits to fund your crypto purchase.

eToro doesn’t charge fees from deposits made to your account. Some of the options to top-up an account with fiat deposits are debit/credit cards, Paypal and bank transfers.

Step 4: Buy BAT Today

Finally, you can buy BAT tokens. Simply type BAT in the search box on your trading platform’s relevant section and click trade to proceed with buying Basic Attention Tokens. Congratulations on your first BAT holdings!

67% of all retail investor accounts lose money when trading CFDs with this provider.

Conclusion

In this article, we learned how to purchase BAT in Australia and we discussed the different methods to do it. By choosing a well-known exchange, you can rely on the security and custody services provided by that exchange while enjoying small deposit fees and beginner-friendly trading platforms during your BAT trading operations.

Today, you can purchase BAT and take advantage of the potential of this decentralized technology without too much hassle in Australia. Blockchain technology proved itself as a secure public ledger system (you still have to be careful about the security of your passwords and computer environment) making it even more attractive for investors to make speculations in the price fluctuations of BAT.

#1 Crypto Exchange Australia – eToro

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

FAQs

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About Umut Sagir PRO INVESTOR

Finance and Tech professional. Founder of HolyPython.com. In recent years, Umut helped reputable clients such as MasterCard New York HQ, Deutsche Bank, FluidAI, Danske Commodities, EvoShave and others with cutting-edge technology implementations and financial research.