Invest in BAT – How to Invest in Basic Attention Token For Beginners

Fact Checked by Gary McFarlane

Basic Attention Token (BAT) is one of several cryptocurrencies with practical purposes – as opposed to simply serving as a means of digital payment. The BAT token works with the Brave Browser – through which users can watch ads and receive rewards.

If you are looking to learn how to invest in Basic Attention Token, our research team has written this guide for you. We’ll also review the best cryptocurrency brokers for the job alongside a brief discussion on how to hedge your risks when purchasing BAT.

Table of Contents

#1 Broker to Invest in Basic Attention Token – eToro

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How to Invest in Basic Attention Token – Choose a Broker

The first step to complete when you want to invest in BAT is to choose a broker. After all, you cannot invest in the token unless you have an account with a platform that supports the coin.

To that end, below we provide you with the best brokers where you can safely invest in BAT.

  • eToro – Overall Best Broker to Invest in Basic Attention Token
  • Coinbase – Beginner-Friendly Broker to Invest in Basic Attention Token
  • Binance – Great Crypto Exchange to Invest in Basic Attention Token
  • OKEx – Invest in Basic Attention Token via Crypto Deposits
  • Capital.com – Trade Basic Attention Token With 0% Commission

Our research team picked these platforms after examining an extensive list of important metrics – such as fees, regulation, and user-friendliness. As you read more of this guide, you’ll come across our full review of each BAT platform highlighted above.

How to Invest in Basic Attention Token – A Quick Guide For 2021

In this part of our guide, we precisely outline the process of investing in Basic Attention Token. If you already have some knowledge about cryptocurrencies, you can invest in BAT following the simple steps listed below.

  • Step 1: Create an Investment Account with eToro: The first step is to open an account with eToro – a regulated brokerage that supports BAT. You can sign up to initiate the registration process on the broker’s website.
  • Step 2: Upload an ID: After creating your account, provide a valid ID to verify your identity.
  • Step 3: Deposit Funds: To fund your eToro investment account, you can use your debit/credit card or any of the supported e-wallets. The broker also supports bank wires.
  • Step 4: Invest in Basic Attention Token: The final step is to search for Basic Attention Token on eToro. Then, click ‘Trade.’ After that, enter the amount you want to invest in Basic Attention Token and click on “Open Trade.”

After completing the above steps, you have just successfully invested in Basic Attention Token. eToro makes the entire process seamless and you can complete all steps within a few minutes.

Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.

Where to Buy Basic Attention Token – Full Broker Reviews

Choosing a suitable broker is not a step that should be rushed. This is because the broker you select will determine the quality of your investment experience. As a smart investor, you’ll want to choose a platform that not only makes it convenient to invest in BAT but also secure.

Based on these factors and more, the brokers below are the top picks when it comes to investing in Basic Attention Token.

1. eToro – Overall Best Broker to Invest in Basic Attention Token

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Although there are many brokers in the crypto market, eToro has positioned itself as a reputable platform to invest in Basic Attention Token. When you invest in BAT through this broker, you enjoy adequate protection owing to the platform’s regulation. This is because eToro is licensed across different countries – such as the US and the UK. With approval from four financial bodies, the broker stands out in the digital tokens space as a credible platform.

Before discussing the fee policy of this broker, it’s crucial to establish that eToro supports dozens of digital tokens. If you want to invest in BAT while diversifying your portfolio, you can choose from a wide range of options including EOS, Litecoin, Cosmos, Zcash, Bitcoin, and many more. This makes it super convenient to manage your BAT investment risk by including other cryptocurrencies in your portfolio.

etoro crypto

For BAT and all other cryptocurrency markets listed on eToro, you can invest in them from just $25. This is in addition to tight spreads and a 0.5% fee (free for US clients) when you add funds to your account. Essentially, this means that the platform allows you to invest in Basic Attention Token cost-effectively. As a beginner, this is a notable perk to consider since you’re looking to minimize your risks.

To complete your transaction, eToro provides you with numerous payment options. You can elect to use your debit/credit card and add funds through fiat currency. The broker also supports Paypal, Neteller, and many other e-wallet options. Suppose you want to use wire transfer, eToro also supports this option. However, note that bank wires can be slow to process your funds, so you might want to consider other options if you want to complete your BAT investment quickly.

etoro copy trading

Finally, if you’re looking for a broker with tools that help you invest in BAT seamlessly, eToro fits the bill. On this broker, you can invest passively by leveraging the copy trading tool to replicate the position of other investors in your portfolio. Here, all future positions of the copied trader will reflect in your portfolio proportionately. The broker also has a research tab where you can learn more about BAT – such as real-time price feeds.

Pros

  • Invest in digital tokens on a spread-only platform
  • $25 minimum investment
  • Supported payment options include e-wallets, debit/credit cards, and bank wire
  • Approved by FINRA/SEC and licensed by the FCA, ASIC, and CySEC
  • More than 20 million clients
  • Suitable for newbies
  • Copy-trading tools and educational resources

Cons

  • Perhaps too basic for technical traders
  • No support for MT4 or MT5

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

2. Coinbase – Beginner-Friendly Broker to Invest in Basic Attention Token

Buy MANA at Coinbase

Our research team found Coinbase to be a reputable broker in the digital tokens market – not least because the platform makes it easy to invest in BAT. Suppose you want to schedule your BAT purchases weekly or monthly, all you have to do is instruct Coinbase and the broker will execute your instructions accordingly. Additionally, the end-to-end process of investing in BAT through Coinbase can be completed within a couple of minutes. All you have to do is to sign up, complete the KYC steps, and invest in the token.

Owing to Coinbase’s ease of use, you require no prior experience in the cryptocurrency market to invest in the BAT token. The broker’s friendly user interface is one of the most notable perks on the platform. This is perhaps the reason Coinbase is home to over 68 million clients. On top of that, the broker provides you with charting options to monitor the markets.

coinbase review

Notably, however, Coinbase charges high fees. For instance, you will incur a 3.99% commission when you invest in BAT with a debit or credit card. For beginners, you’ll want to carefully consider this fee structure, since the amount charged is considerably higher than the likes of eToro. However, if you don’t consider this a drawback, Coinbase remains a top broker with security protocols such as IP whitelisting to ensure adequate protection of your funds.

Pros

  • One of the most popular cryptocurrency exchanges
  • Over 68 million clients
  • Supports instant debit or credit purchases
  • Numerous digital tokens to select from
  • Institutional-grade security practices

Cons

  • Debit card deposits are expensive at 3.99%
  • You will pay a standard trading commission of 1.49%

at eToro, #1 Broker in the Crypto Space

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

3. Binance – Great Crypto Exchange to Invest in Basic Attention Token

Binance is popularly known as the largest crypto exchange in terms of trading volumes. Following the exchange’s launch in 2017, the platform has grown significantly in the cryptocurrency industry to become one of the most utilized places for investors. If you want to invest in BAT, you can consider using Binance for that purpose. But you will have to first buy USDT and then proceed to swap it for BAT. Other BAT markets are paired with ETH, BNB, and BTC

In terms of fees, Binance charges 0.5% on debit/credit card transactions if you’re investing from the US. However, for non-US clients, the fee can go as high as 4%. For instance, UK clients will pay a 1.8% fee for using debit/credit cards to add funds on Binance. Therefore, your location essentially determines the amount you’ll incur in terms of fees.

binance review

Furthermore, the broker provides more than 100 cryptocurrency markets including Litecoin, Bitcoin, Chainlink, Ethereum, and more. This wide range of markets makes diversification seamless. However, if you’re a US investor, you only gain access to just over 50 cryptocurrency markets. Nonetheless, all Binance users can elect to store their tokens on the platform and benefit from the exchange’s secure storage facilities.

Pros

  • Facilitates billions of dollars in daily trading volume
  • lists hundreds of cryptocurrency pairs
  • Near-instant deposits via debit/credit card
  • Trading commission starts at just 0.1% per slide
  • Offers crypto savings accounts
  • Convenient for both beginners and experienced investors alike

Cons

  • Not all supported markets can be funded with debit/credit card
  • No e-wallet deposits or withdrawals

at eToro, #1 Broker in the Crypto Space

4. OKEx – Invest in Basic Attention Token via Crypto Deposits

OKEx homepage

For investors with digital tokens in an external wallet, you can transfer those coins to OKEx to fund your BAT investment. OKEx is a great exchange in this regard, as the platform charges very low fees for such transactions. In fact, crypto-to-crypto commissions start at just 0.10%. In addition, when you make crypto deposits on the platform, you won’t have to complete a KYC process, meaning you can invest in BAT anonymously.

However, if you need to fund your account with fiat money, you can use your debit/credit card to purchase USDT on OKEx. Then, you’ll proceed to exchange the USDT for BAT. Furthermore, the broker offers advanced crypto trading services – such as technical indicators and drawing tools. You can take advantage of these services based on the level of your experience in the cryptocurrency space.

In addition, OKEx provides educational resources that you can leverage to understand more about BAT and the cryptocurrency market. This provides you with more information that might impact your investment decision. Additionally, the broker has responsive tech support via a live chat facility. All of this makes the exchange a great place to invest in Basic Attention Token.

Pros

  • Credible cryptocurrency exchange with more than 20 million clients
  • Over 400+ cryptocurrency pairs
  • Invest in digital tokens using a debit/credit card or wire transfer
  • Low commissions that start from 0.1%
  • Fully-fledged mobile app on Android and iOS
  • Great reputation in the market and super secure

Cons

  • Debit/credit card fees could be more competitive
  • Derivative products are too complex for beginners

at eToro, #1 Broker in the Crypto Space

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

5. Capital.com – Trade Basic Attention Token With 0% Commission

capital.com review

One great perk our research team found with Capital.com is that you can trade BAT without paying commissions. The broker supports dozens of cryptocurrency markets – all of which are tradeable at 0 -commission, making the platform very cost-effective. However, investing in Basic Attention Token on this platform takes a different approach from the conventional buy-and-hold strategy.

On Capital.com, you trade contracts-for-differences (CFDs), meaning you open BAT positions based on the market value of the token. If you’re a day or swing investor, this is an effective way to open and close BAT trades within short intervals. The broker also allows you to go long or short, meaning you can attempt to make a profit irrespective of whether the price of BAT is rising or falling.

capital.com review

Finally, the broker is also licensed by the FCA – which is an indication of the platform’s credibility. To get started with Capital.com, all you have to deposit in your account is a minimum amount of $20 if you’re using your debit/credit card or an e-wallet. However, if you elect to use bank wire, the minimum requirement increases to $250. Once you make the minimum deposit, you can proceed to trade BAT.

Pros

  • Top-rated spread betting and CFD broker
  • Licensed by the FCA
  • $20 minimum deposit (debit/credit cards and e-wallets)
  • 0%-commission on all markets
  • Tight spread and no fee for making deposits or a withdrawal
  • Supports thousands of financial markets
  • Convenient for Newbies

Cons

  • Experienced traders might consider the broker too basic
  • $250 minimum deposit on wire transfers
  • Not available in the US

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.25% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.

How to Invest in Basic Attention Token – Detailed & Explained in Full

Experienced investors might find the quick guide above sufficient. However, for beginners, this might raise more questions. Therefore, we have provided a more detailed guide that will substantiate all the steps earlier outlined.

Step 1: Create a Basic Attention Token Investment Account

To open an investment account on eToro, you simply need to visit the broker’s website and follow the on-screen instructions to complete the registration steps.

how to join etoro

This step will require you to enter some basic details including the following:

  • Full name
  • Social security number
  • Contact information
  • Username/password

You’ll also be required to fill in some details concerning your investment experience and risk appetite. eToro leverages this information to determine the most effective way to offer you suitable investment services. After completing all this, you can proceed to the next step.

Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.

Step 2: Upload ID

As a regulated broker, you have to verify your identity before you can access the order page to invest in BAT. Here, eToro will require you to upload a valid ID.

This can be a driver’s license or passport. You’ll also need to upload a document that validates your home address. This can be a bank statement or utility bill.

Step 3: Add Funds to Your Account

At eToro, this minimum deposit requirement is $200 ($50 for US investors).

The broker provides you several payment options to complete this process – such as a debit/credit card. Other supported options include Paypal, Apple Pay, Neteller, and Skrill.

You can also make a deposit using a wire transfer. The only downside here is that this method takes approximately 1-3 days to process.

Step 4: Search for Basic Attention Token

Here, go to eToro’s homepage and search for Basic Attention Token. To do this, type the name of the token into the search bar.

invest in basic attention token

eToro will display the results from which you’ll find the token ‘BAT.’ Click on ‘Trade’ to proceed to the final step

Step 5: Invest in Basic Attention Token

On the order page, enter the amount you want to invest in Basic Attention Token. This can be any amount from $25 upwards.

invest in basic attention token

After inputting your stake, confirm the details, and open your BAT investment by clicking ‘Open Trade.’ After that, the broker will execute your purchase and you’ll find the tokens in your portfolio.

How to Sell Basic Attention Token

Investors enter the BAT market looking to make a profit. If the market eventually moves in your favor, you must understand how to sell the tokens to realize your gains.

Follow the steps below to sell your BAT tokens on eToro.

  • In your portfolio, initiate a ‘Sell’ order.
  • To sell your tokens instantly, you will have to utilize a market order.
  • However, if you want to hold the tokens until the price of BAT reaches a particular point, you can use a limit order.
  • Once eToro sells your tokens, the broker will make your funds available accordingly.

As you can see, cashing out your Basic Attention Token investment is an easy step. Once the process is completed, you can decide to further invest the funds into a new project or simply make a withdrawal.

Ways to Invest in Basic Attention Token

There are two notable ways to invest in Basic Attention Token. You can either use a broker or a cryptocurrency exchange. This section will highlight the features of these two options so that you can make an informed decision.

Basic Attention Token Broker

You can choose to invest in Basic Attention Token through a broker. These are often regulated platforms that allow you to invest in various financial markets. For instance, eToro is licensed by multiple regulators – including the SEC and the FCA.

Here are some things to know about brokers offering BAT tokens:

  • Regulated brokers offer you a safe avenue to invest in BAT.
  • As a broker licensed by multiple financial bodies, eToro allows you to invest in BAT with your debit/credit card. This is alongside numerous other payment options including e-wallets.
  • Other than eToro, some other top brokers include Coinbase and Capital.com.
  • Regulators often mandate these brokers to operate a fair trading system within their legal scope of operations.
  • Furthermore, regulated brokers also operate segregated accounts to ensure that users’ funds are stored separately from the platform’s capital.

Generally, regulated brokers are the best options for beginners — as they allow you to invest in Basic Attention Token in a secure manner.

Basic Attention Token Exchange

For investors who choose not to use a broker, you can decide to invest in BAT through a cryptocurrency exchange. With a cryptocurrency exchange, you can complete your BAT investment process within minutes. However, you might require some level of experience to use an exchange – since most do not support debit/credit cards — as they are unregulated.

invest in basic attention token

In such instances, you’ll need to exchange another digital token for BAT. Although this might be an easy process for a pro-investor, a beginner might find this complex. This is one major drawback with cryptocurrency exchanges. Additionally, since unregulated exchanges are not approved by any financial body, investors have no safety net for instances when the platform compromises users’ funds.

Should I Invest in Basic Attention Token?

Newbie traders will ask whether to invest in BAT — looking for answers to guide them in making the right decision. However, this question is best answered after learning more about the project. This is why you should engage in extensive research before investing in BAT. The token was launched in 2017, meaning it has a sufficient track record for you to assess.

When you do this, you will know more about the token and ultimately make an informed decision. Here are some features worthy of contemplation.

Redefining Digital Advertisement

The BAT project is a platform that seeks to provide users with rewards for watching ads. This is to ensure that advertisers generate expected results for their ad spend. The platform utilizes the Brave Browser to allow users to watch adverts and get rewards accordingly. This way, BAT creates an audience for advertisers, making it easier to maximize engagement.

invest in basic attention token etoro

The unit of reward for this entire process is the BAT token. The token is exchanged across multiple stakeholders in the ecosystem, including viewers, publishers, and advertisers. This is a factor that can impact the token’s value in the market. Therefore, a practical use case of this nature is worthy of consideration when you’re researching the project.

Technical and Corporate Support

Basic Attention Token enjoys quality technical and corporate support, which is one of the factors that have contributed to the network’s growth in the industry.

  • The tech team comprises its founders, Brendan Eich and Brian Bondy, who have years of experience working in the cryptocurrency space.
  • The founders developed the Brave Browser – which facilitates the new blockchain system of advertisement.
  • The rest of the team consists of 16 developers, engineers, and researchers with varying years of experience across different relevant fields.

Concerning corporate support, Basic Attention Token has entered into partnerships with several top firms in the cryptocurrency space including Verizon, Purple, BlockFi, and more. This level of support lends a vote of confidence to the token.

Users Can Start With no Capital

The obvious way to invest in a digital token is to purchase the coin with some personal money. However, with BAT, although you can purchase the token with funds, you can also get started with zero capital. Since the network rewards users with BAT for watching ads, you can build your token balance in a risk-free manner.

invest in basic attention token etoro

Users can then grow their portfolio by starting with the BAT tokens generated. This feature has the potential of drawing more users to the platform.

Low Entry Point

When a token has a low entry point, an investor can decide to put money behind the asset and wait for a price increase. BAT is a relatively new project with a low market price. As of the time of writing in late September 2021, BAT has a price of just over $0.64. This means that investing just a few hundred dollars will get you a substantial number of tokens.

What are the Risks of Investing in Basic Attention Token?

You haven’t fully learned how to invest in BAT if you don’t understand the risks that come with buying this digital token. Some of these risks relate to the general crypto asset market. On the other hand, some risks are unique to Basic Attention Token.

Here, we will discuss the relevant risks you should know before investing in BAT.

Market Volatility

A volatile market like that of cryptocurrency can move in various directions across the day. If the market moves unfavorably, you might lose the capital you invested in BAT. On the other hand, if the token witnesses a price increase, your investment will rise in value.

  • However, you cannot ascertain how the market will move which is what makes investing in BAT risky.
  • Therefore, you should prepare for unprecedented market movements.
  • As an investor, you should focus on the potential long-term returns from BAT as opposed to short-term profits. This is how you can navigate the market without having to constantly worry over price fluctuations.

Additionally, ensure you research extensively before buying the token. AS BAT was launched in 2017, there’s sufficient information for you to study on the project.

Overwhelming Reliance on Brave Browser Adoption

Another risk to Basic Attention Token is that the growth of the coin is heavily reliant on the adoption of the Brave Browser by both users and advertisers.

  • The greatest utility of the token is based on how valuable it is on the Brave Browser.
  • Therefore, the token might not witness significant growth if the Browser is not adequately utilized.
  • This problem is further complicated by the stiff competition that Brave Browser faces in the wider market.
  • Rival browsers such as Google Chrome, Firefox, and Safari continue to dominate the internet.

Therefore, before investing in the project, you should research the prospect of the token extensively.

How Much Does it Cost to Invest in Basic Attention Token?

The cost you’ll incur when investing in BAT will be based on the fee policy of the platform where you decide to invest in the token. Therefore, as a smart investor, you’ll want to choose a low-cost broker.

  • When using a debit/credit card to invest in Basic Attention Token, you can incur a fee of up to 5% of the transaction amount.
  • For example, Binance charges up to 4% for debit/credit card transactions. At Coinbase, all debit card purchases will cost you 3.99%.
  • eToro, on the other hand, has a low-fee policy where users incur just 0.5% when making a deposit on the platform.
  • US clients are treated to a 0% deposit fee at eToro.

Since you’re investing in BAT to make a profit, considering a cost-effective broker is a smart step to take. eToro fits the bill in this regard – as we found it to offer one of the most competitive fee structures in the crypto arena.

How to Invest in Basic Attention Token – Conclusion

For a newbie who does not know how to invest in Basic Attention Token, our guide has explained all the steps involved in buying and selling the coin. We have also assessed various brokers and showed why eToro stands out in this marketplace.

The broker is regulated by various financial bodies – including the SEC, which makes it a credible platform to invest in BAT. It takes just minutes to complete the process at eToro – as you can use a debit/credit card or e-wallet to pay for your purchase!

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 Kane Pepi PRO INVESTOR

Kane Pepi writes for several high profile publications such as InsideBitcoins, the Motely Fool, and Learnbonds. Based in Malta, Kane is extremely skilled at complex subjects related to financial matters - including a Bachelor’s Degree in Finance, a Master’s Degree in Financial Crime, and actively engaged in Doctorate Degree research, for the money laundering threats of the blockchain economy.