How To Buy Basic Attention Token (BAT) Cryptocurrency – Step by step guide

If you’ve read our BAT guide and think it has a decent shot of disrupting online advertising, you’ll probably have two simple questions: How to buy BAT and where to buy it? In this article we will show you our top two ways to buy Basic Attention Token.

Are You Too Late To Buy BAT?

Batman standing over city graphic

Basic Attention Token first hit exchanges on June 1st 2017 at a price of 17 cents a token. Since then, BAT has gone on quite the run and pushed to all time highs of 97 cents per token on 9th January 2018. At the time of writing, Basic Attention Token is trading at just 20 cents a token.

At Total Crypto, we like getting near 80% all time high discounts on promising projects. This means we prevent ourselves from buying at the top of the market and give ourselves the best opportunity to make large gains, whilst reducing our downside. Quite simply, buying in at an 80% reduction from a cryptocurrencies all time high, means a 400% gain if the crypto reaches it’s peak again. Our strategy has always been to accumulate positions in great projects when we can get large all time high discounts.

With BAT, it is important to remember that it only ICO’d on the 1st of May 2017 and has only been publicly available for around a year. In addition, key products like the decentralised ad exchange have not yet been created yet. This means there is plenty of value left in the Basic Attention Token roadmap to positively impact on the token price.

With the project being so new, it is still early days for the Basic Attention Token and if they are truly going to disrupt the $560 billion per year online advertising market, it will take time to gain market share and traction.

We still think that anyone adding Basic Attention Token to their cryptocurrency portfolio is getting in early. The most important consideration when making any investment is the price you get in at.

How High Could Basic Attention Token Go?

Batman flying graphic

In short, no one knows how high a cryptocurrency could go or if it will be worthless. What is clear is that Basic Attention Token is trying to gain a share of the $560 billion per year online advertising market. Dominant players in this market are companies like Facebook, who at the time of writing have a market cap of $456.65 billion.

Cryptocurrencies are obviously not stocks, but we think it’s interesting to look at the earnings that back up these valuations in the stock market. Facebook has a current price to earnings ratio of 29.14. This means for every $1 in revenue produced by Facebook, investors pay $29.14 for that single dollar of Facebook revenue.

Facebook stock price data

For fun, let’s say the online advertising market stays at $560 billion per year and BAT gained $100 billion of the revenue in that market. Let’s also assume that it’s market cap is determined by the same price to earnings ratio as Facebook currently (29.12).

100 billion * 29.14 = $2.914 Trillion BAT Market Cap.

The reality is that we have no idea how high Basic Attention Token can go. But we do know that if BAT manages to successfully gain a slice of the online advertising market, then investors at current price levels are likely to do very well indeed.

How To Buy BAT – Our Top 2 Ways Explained

We will show you two ways to buy BAT. It’s totally up to you to decide the correct one for you.

  1. How to buy BAT with regular currency (for example; USD, GBP and EUR). To do this you will need to create accounts at Coinbase and a cryptocurrency exchange. Setting up multiple accounts is a hassle, but sadly there is no easier option.
  2. Our second method is for those that already hold some Ethereum or Bitcoin and wish to trade this for BAT. We will show you the best exchange to use and get your hands on some Basic Attention Tokens.

Buying BAT With USD, EUR or GBP Joker why so serious one dollar bill

This method is ideal for those making their first ever cryptocurrency investment. If you wish to proceed, you will need to set up a Coinbase and a cryptocurrency exchange account, and create a wallet to store your Basic Attention Tokens. Don’t worry, we will show you how to do this.

Buying With Crypto

Cryptocurrency veterans can just skip ahead of all the Coinbase stuff. We know you have probably jumped through these hoops before.

Creating a Coinbase Account

Coinbase Cryptocurrency Exchange Logo

Coinbase Key Facts

  • Established Track Record: Coinbase was founded in 2012 and is the world’s most popular cryptocurrency exchange.
  • Serious Backers: Venture capital firm IVP, who were involved in the latest funding round, have been early investors in businesses like Netflix and Twitter. Other investors include companies like the New York Stock Exchange.
  • Easy To Use: Coinbase is renowned for it’s easy to use interface. This makes it the perfect exchange for cryptocurrency newcomers.
  • Small Minimum Deposit: You can invest as little as €6 into cryptocurrencies on Coinbase.
  • Regulated: Coinbase is one of the few cryptocurrency exchanges to be regulated.
  • Insurance: Customer funds are insured and segregated. US customers are even insured up to a balance of $250,000.
  • Deposit Methods : Credit / debit card, bank transfer and PayPal for US customers.
  • Tradable Cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
  • Customer Support Methods: Email and FAQ’s.

Looking to invest more than $100 in Basic Attention Token by using Coinbase? Good news! You will also get $10 FREE by signing up through Total Crypto!

Need help with account setup? Just read our comprehensive Coinbase guide!

I’m All Set Up On Coinbase. What Now?

Top stuff on getting stage one out of the way. The bad news is that you cannot buy BAT directly through Coinbase and you will need to use a cryptocurrency exchange to get your BAT. To do this, we first need to convert our money into either Bitcoin or Ethereum. We will then trade this for BAT on a cryptocurrency exchange later.

The Fast Way To Buy Bitcoin or Ethereum On Coinbase

  • Head over to the ‘Buy/Sell’ page on your account.
    How to navigate to Buy/Sell on Coinbase
  • Add a payment method to your Coinbase account.
    How to add a payment method to your Coinbase account
  • Choose your deposit method: You can deposit a ‘Bank Account’ transfer – this method has lower deposit fees, but the transfer takes between 2 and 5 days to be credited to your Coinbase account. Or you can deposit instantly through a Credit/Debit card. With either method, just enter your payment details and process the transaction to fund your account. Once submitted, just sit back and wait for the credit to be applied to your account. You will get an email to telling you when your deposit has been successful.
    Adding a bank account or credit / debit card to your Coinbase account
  • Once your account is funded, select Bitcoin or Ethereum in the ‘Buy/Sell’ section of Coinbase.

  • Enter the amount of crypto you want to buy.
  • Select the currency wallet you deposited funds into as your payment method (we have used EUR in this example).
    How to buy cryptocurrency on Coinbase
  • Complete your order by clicking buy.
    How to complete your cryptocurrency order on Coinbase

Check out our Coinbase guide if you are interested in buying Ethereum and Bitcoin on Coinbase with the lowest fees possible. It does take a bit more time though and involves transferring your funds to Coinbase’s sister exchange GDAX and buying your crypto there instead. We do recommend using GDAX and saving yourself some fees.

Once you have successfully bought Ethereum or Bitcoin on Coinbase, you are ready to move onto the next step.

How To Setup MyEtherWallet?

Myetherwallet logo

Basic Attention Token is built on the Ethereum blockchain and is a ERC-20 token. This means that BAT can be stored in an Ethereum wallet. We do recommend you use MyEtherWallet. It’s the most popular Ethereum wallet and it’s absolutely free too.

TotalCrypto.io MyEtherWallet Resources
1) The official MyEtherWallet site.

2) Our step by step guide to setting up MyEtherWallet.

So your MyEtherWallet should be setup and good to go now. We will just quickly show you how you can view your BAT in the wallet. First go to the ‘View Wallet Info’ section of MyEtherWallet and login. You will see a ‘Show All Tokens’ button, just press it.

How to find ERC20 tokens in MyEtherWallet

Just scroll down the list of tokens until you see BAT and click ‘load’ to view your token balance.

Finding Basic Attention (BAT) in MyEtherWallet

How To Store BAT In The Most Secure Way?

We really rate MyEtherWallet as a way to store your Basic Attention Tokens. However, we need to accept that there are many hackers targeting cryptocurrency right now and that this issue is only likely to get worse, as cryptocurrency prices rise. This means some investors might be interested in getting the best security money can buy.

The most secure wallet solution on the market right now is a hardware wallet device. This stores your private keys on the device and protects them from malicious attacks such as keyloggers and phishing attempts. Your computer could have a load of viruses on it, but with a hardware wallet your crypto should be safe.

The good news is that because BAT is built on Ethereum, it is compatible with the two most popular hardware wallets on the market. We actually use both a Trezor and a Ledger ourselves and are happy to recommend both devices.

Need help working out which hardware wallet is best for you? Just check out our Ledger vs Trezor comparison article.

Ledger hardware wallet logo

Price: €94.80 (including European tax and free shipping)

Need help setting up your Ledger? Just have a look at our step by step guide.

Trezor Hardware Wallet logo

Price: €128.26 (including European tax and shipping)

Need help setting up your Trezor? Just have a look at our step by step guide.

If you need help integrating your Trezor or Ledger with Myetherwallet, just take a few minutes to find out how in our guide.

Create a Binance Account

By now, you should have some Bitcoin or Ethereum in your Coinbase account and have your Basic Attention Token wallet ready to go. One of the largest cryptocurrencies exchanges to trade BAT is Binance. Binance is actually the most popular exchanges in the world and we cannot find a decent reason to buy BAT elsewhere.

Binance cryptocurrency exchange logo

Binance Key Facts:

  • Largest In The World: Binance is the biggest crypto to crypto exchange in the world!
  • Huge Selection Of Cryptocurrencies: Binance offers you the opportunity to get your hands on over 100 different cryptocurrencies. BAT is one of them.
  • User Friendly: The crypto to crypto exchange is the simplest we have ever used. We think this has been one of the main factors leading to Binance’s explosive growth.
  • Customer Support: Binance offers email multi language support for 🇺🇸 🇨🇳 🇯🇵 🇰🇷

Get Basic Attention Token on the world’s largest crypto to crypto exchange.

Need help setting up a Binance account? Just checkout our Binance guide.

How To Transfer From Coinbase To Binance?

Coinbase and Binance square logos

You should have set up your Binance account by now. Whether you have your Bitcoin or Ethereum on Coinbase or in another wallet, you will have to send your funds to Binance to trade this for Basic Attention Tokens.

Binance

  • Login to your Binance account.
  • Select “Funds” and click “Deposit”.
    How to find deposit address in Binance exchange
  • Make sure that you select Ethereum if you have Ethereum on Coinbase or Bitcoin if you hold BTC. If you send to the wrong wallet you may lose your funds!
  • You will then see your deposit address for Binance. Just copy this address. We have used Bitcoin as an example.
    How to find your deposit address in the Binance exchange

Coinbase

  • Login to Coinbase and go to the ‘Accounts’ tab.
  • Click the send button for whatever cryptocurrency you hold.
    How to send cryptocurrency from Coinbase
  • Paste your Binance deposit address into the ‘Recipient’ wallet address box and enter the amount you want to withdraw.
    How to enter your Bitcoin wallet address to send funds off Coinbase
  • Hit continue and finalise the transaction. Your Bitcoin and Ethereum should show up in your Binance account shortly.

Got Crypto In Another Wallet?

  • Simply send your crypto to your Binance deposit address.

How To Trade Bitcoin or Ethereum For BAT on Binance?

Now it’s time to finally buy our Basic Attention Tokens.

  • Navigate to the Binance homepage and select ‘BTC Markets’ if you have Bitcoin on Binance or ‘ETH Markets’ if you have Ethereum. Then just search BAT in the search bar and click the BAT/ETH or BAT/BTC market.
    How to find Basic Attention Token (BAT) markets on Binance
  • You will then see a trading screen. At first glance it may look tricky but don’t be put off, we will show you what to do. Just select the ‘Market’ tab (this enables you to buy at the market price). Then enter the number of Basic Attention Tokens you want to buy. You can also use the percentage buttons to use a certain percentage of your balance on Binance to buy BAT.
    How to buy Basic Attention Token (BAT) on the Binance cryptocurrency exchange?
  • Once you have clicked ‘Buy’ your trade will be processed and your Basic Attention Tokens will appear in your Binance account.

How To Withdraw Your BAT From The Binance Exchange?

We should have our Basic Attention Tokens on Binance and have our MyEtherWallet good to go. We do recommend you withdraw your BAT off the exchange and store them in your personal MyEtherWallet. The reason is that Binance holds a lot of cryptocurrency and is a natural target for hackers. Also, having control of your own crypto is probably better than trusting an exchange to keep your crypto safe for you.

  • Go into your MyEtherWallet and copy your public address.

    How to find your public address in MyEtherWallet

    How to find your public Ethereum address in MyEtherWallet

  • Login to Binance.
  • Navigate to ‘Funds’ and hit the ‘Withdrawals’ button.
  • Select BAT from the dropdown, then paste in your Ethereum public wallet address and enter in the amount you want to withdraw.
    How to withdraw Basic Attention Token (BAT) from the Binance exchange?

💡 Top Tip: Binance will charge you a withdrawal fee to get your Basic Attention Tokens off the exchange. Before you withdraw you can check the withdrawal fee here!

Conclusion

There you have it, the easiest way to buy and store BAT. The Total Crypto Team is very excited about the size of the market Basic Attention Token is trying to get a foothold in. We also believe that the online advertising industry is only going to grow for the foreseeable future, which is great news for BAT if it gains significant market share.

However, even if the project is successful, TotalCrypto reckons it will take longer than people think for the Basic Attention Token platform to be adopted by users, publishers and advertisers. The sad fact is that humans are usually resistant to change and this can be seen in how long it took for the majority of internet users to switch from Internet Explorer to Google Chrome. This makes it critical for Basic Attention Token to increase their ad reach through plugins on other internet browsers, rather then just relying on users switching to the Brave Browser. 

When it comes to the creation of a decentralised, transparent digital ad exchange, there will be a significant obstacle in persuading a large number of publishers and advertisers to use it. The reality is that such a marketplace will only be used by publishers and advertisers if there is enough value for both players.

For Basic Attention Token to really fulfil its potential, it needs mass user adoption of BAT products and the ability to serve voluntary Ads to tens or hundreds of millions of people. We think this is a massive undertaking, especially given the dominance of Google and Facebook. However, with Brendan Eich at the helm, we do think the team has a decent chance of success. 

Further Reading At TotalCrypto.io
1) Find Out More About The Cryptocurrency Named ‘The Ethereum of China’ & ‘The Ethereum Killer’.

2) Wanchain: The Cryptocurrency Rebuilding Finance. Find Out How This Project is Trying To Grab A Slice Of An Industry Worth $10 Trillion Per Year!

3) Don’t Trust Governments? Checkout How Verge Cryptocurrency Could be The Solution.

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