Basic Attention Token is one of the more interesting cryptocurrency projects to emerge in recent years. Seeking to improve the online advertising experience for both users, marketers and corporations, few would argue that BAT is addressing a worthwhile issue and one that is becoming ever more relevant as web users demand a more seamless experience.
The project is built on Ethereum and designed to work in conjunction with the Brave browser, which many crypto enthusiasts will know is a high-speed browser that places emphasis on security and privacy. The central idea is that users are rewarded for viewing relevant ads and marketers get the information they need to better place promotions.
So far, the idea seems to be catching on. After just four years since its launch, there are already some 12 million BAT wallets open around the world with on-chain transaction volume estimated at $382.2 million.
But is there really enough demand for Basic Attention Token to double investors’ money in 2023? In the following article, we’ll take a look at five reasons why BAT could be a token to watch in the coming months.
1. The Digital Advertising Industry Is Huge
Basic Attention Token has the potential to revolutionise the world of online advertising. By effectively tracking users' interaction with online advertisements, the project promises to optimise the experience for the user whilst improving efficacy for companies looking to advertise.
Given that the global digital advertising market is estimated to be worth some $350 billion, BAT is targeting a very lucrative market and if it can prove effective, the token could come to be highly sought after and highly valuable in the coming years.
The digital advertising market is only going to get bigger. In fact, economists predict that it will grow at a rate of around 13 - 14% over the coming years and will be worth approximately $786 billion by 2026.
Given the rate that the market is likely to expand and BAT’s unique position as a cryptocurrency that promises a way to streamline the entire advertising process, it is highly possible that BAT will double your money - maybe not by the end of 2023, but certainly over the next five years or so.
2. Users Are Demanding A Better Web Browsing Experience
The web browsing experience is now part of everyday life for the majority of the modern world. Internet computing in general has come to be considered alongside our basic utilities, such as electricity and gas, and with this in mind, consumers demand a seamless experience.
For example, recent weeks have seen calls grow for cookie consent pop-ups to be phased out, as they are considered a nuisance. The same is said of advertisements that often have no relevance to the user viewing them. And this is where Basic Attention Token comes in.
BAT is effectively embedded within the Brave browser, which itself blocks ads. The blocked ads can then be replaced by those from trusted parties that the user opts into viewing - receiving BAT as an incentive.
The token transactions are tracked by the Brave Micropayments Ledger. This means that users, companies and marketers can transact with each other which in turn means users only see ads relevant to them and in turn advertisers can provide a better service.
As users continually demand a less invasive user experience, BAT could provide the perfect solution for the digital advertising industry to remain present without being bothersome.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
3. The Brave Browser Is Becoming More Popular
Google Chrome may now be the undisputed king of web browsers, but it certainly isn’t without its faults. Brave is a comparatively new kid on the block, having launched in 2016, but it offers several advantages over many of the major browsers.
Firstly, Brave is big on privacy - which has become a big concern in an increasingly online world. Brave does not collect users’ browsing activities and also offers built-in tracker blockers that can be selected by the user. It also has integrated Firewall and VPN features for IOS devices, which further enhances digital privacy.
In addition to its privacy and security credentials, Brave is also fast. Its developers claim it uses 33% less memory than Google’s Chrome, as well as demanding less power. This streamlined approach means that Brave is one of the faster browsers out there - and this is an important factor for most web users.
The formula appears to be working - Brave had some 25 million active users as of February 2021 and as its notoriety grows, we could see the browser eventually compete with the likes of Safari, Chrome and Firefox. Naturally, this would spell major growth for Basic Attention Token.
4. BAT Has Already Built A Large Following
Most people know by now that companies spend big money to get their adverts seen online. In fact, an entire industry has grown around trying to get an advantage over competitors. So, when a project like BAT comes along, it is hardly surprising that major corporations and marketing firms are ready to grab it with both hands.
We have already noted that Brave has some 25 million active users, but it’s worth noting that there are also more than 400 advertisers using the platform and over 2,500 campaigns have been launched leveraging the BAT ecosystem.
BAT initiatives are active in 190 different countries - though most of the interest has so far come from the US, UK and Canada. This suggests that the platform has some pretty serious room for growth and if uptake continues at the rate it has been since the project launched, then holders of Basic Attention Token could see their holding substantially increase in value.
Read Also: Could Basic Attention Token (BAT) Be a Millionaire-Maker Coin?
5. Basic Attention Token Has An Impressive Development Team
An often-overlooked factor when weighing up the future growth potential of a cryptocurrency project is the development team behind it. Ultimately, these people are responsible for steering the project so it’s worth doing some background research to check things are in safe hands.
Basic Attention Token has no worries in this department. Brave was founded by Brendan Eich and Brian Bondy. Eich was actually the creator of JavaScript - which itself revolutionised the web browsing experience - and also the CEO of Mozilla Corporation, so he brought some pretty extensive experience to the project. Co-founder Bondy was himself a high-level software developer and Khan Academy alumni.
In addition to Eich and Bondy, the BAT project also has former Facebook and Google man Greg Bardros and Zooko Wilcox, who was formerly involved with ZCash and Mojo Nation.
In fact, scanning through the list of BAT personnel reveals key figures from just about all areas of e-commerce, digital security and blockchain. The level of expertise and experience means that the project has everything it needs in-house and is well placed to adapt to new challenges posed by the ever-changing digital environment.
Conclusion - Is Basic Attention Token A Good Investment In 2023?
Basic Attention Token is one of the more interesting prospects when it comes to cryptocurrency investment. It has a pretty solid use case and few people would argue that a platform offering to improve the effectiveness of online advertisements by minimising irrelevant content will only serve to improve the web browsing experience.
Of course, the Brave browser is yet to rival the major players like Chrome or Edge in terms of user numbers, but there is certainly a huge amount of potential and if the platform delivers a faster, more secure user experience, then there’s every reason to believe its user base will grow significantly in the coming years.
The world of blockchain is continuing to evolve and projects are emerging that make much more use of the capabilities of the technology when compared with first-generation cryptocurrencies. BAT is one of the more ambitious projects in the space and one that makes a lot of sense.
If you’re looking to invest in BAT cryptocurrency in 2023, then it’s probably best not to assume you can double your money, but there is every reason to believe that Basic Attention Token could deliver significant returns in the coming years.
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Where To Buy Basic Attention Token
If you do decide you want to add Basic Attention Token to your portfolio, then you’ll need to find an exchange or broker that lists the token. The good news is that eToro - one of the top brokers on the market - is currently listing BAT and offers a reliable and intuitive trading environment.
Opening an account is simple and once verified, you’ll be able to start making trades within minutes. You’ll also find the eToro website has plenty of information about the cryptocurrency market, as well as articles related to all things trading and investment.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Read More:
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FAQ
What is Basic Attention Token used for?
Basic Attention Token promises to completely redefine the way we experience advertisements online. Effectively, the project uses blockchain technology to enhance the experience for both users and advertisers - removing irrelevant ads and replacing them with ones more likely of interest to the user.
Will Basic Attention Token double my money in 2023?
Basic Attention Token probably won’t see 100% growth before the end of 2023, but investors who choose to add BAT to their portfolio now could very well double their money over the next 18 - 24 months. Of course, nothing is guaranteed in the world of cryptocurrency, but BAT certainly has a lot of potential.
Where can I buy Basic Attention Token?
One of the top brokers on the market, eToro, is currently listing Basic Attention Token so if you are looking to add it to your portfolio then we’d recommend heading over and opening an account.
What is the Brave browser?
The brave browser was developed by Mozilla CEO and javascript inventor Brendan Eich to offer users a more private web browsing experience. The browser claims to use much less computational power than the likes of Google Chrome and offers several innovative plugins. It is also the platform used by the Basic Attention Token project.