How to Buy Basic Attention Tokens in the UK

A Beginner’s Guide to Buying Basic Attention Token Cryptocurrency in the UK

Last Updated July 23rd 2021
5 Min Read

In this article, we will cover all the important information about buying Basic Attention Token in the UK, including a step-by-step guide on how to get started with BAT trading. 

Basic Attention Token refers to a blockchain-oriented system that makes it possible to keep track of media consumers' time and effort put on websites. The main objective of BAT is to ensure that revenue generated from advertisement is effectively and efficiently distributed among stakeholders. 

These stakeholders include advertisers, publishers, and the people who take the time to read marketing ads and content that are shared online. BAT, therefore, provides a solution to the endemic loopholes and the privacy violations that are known to hobble the digital advertising industry. 

BAT is a devolved and transparent digital advertising platform that operates based on the Ethereum blockchain. The BAT token is one of the most competitive cryptocurrencies that will ensure that you earn quick returns from crypto trading. However, before you get involved in this market, you need to note the high volatility of it and the high level of risk that comes with investing your money in this market. 

What’s in this guide? 

If you’re based in the UK and wish to buy BAT – the process is very simple. All you need to do is find a regulated online exchange that offers competitive fees, deposit some funds with a debit/credit card, and decide how much you wish to buy.

  1. QUICK GUIDE: HOW TO BUY BASIC ATTENTION TOKENS IN THE UK
  2. A step-by-step guide to buying Basic Attention Tokens in the UK
  3. How to sell Basic Attention Tokens in the UK
  4. Which wallets can I use to hold Basic Attention Tokens?
  5. How Basic Attention Tokens work
  6. Key things to consider before buying Basic Attention Tokens in the UK
  7. Conclusion

QUICK GUIDE: HOW TO BUY BASIC ATTENTION TOKENS IN THE UK

  1. Open an account with a cryptocurrency exchange
  2. Verify your account
  3. Go to the deposit section
  4. Go to the platform and select Basic Attention Tokens
  5. Enter how many Basic Attention Tokens BAT you want to buy
  6. Check the details and confirm your purchase

A step-by-step guide to buying Basic Attention Tokens in the UK

Follow the following step-by-step guide to buying Basic Attention tokens:

Step 1: Open an account

The first step involves buying a crypto exchange account and having it registered. The registration process is simple and straightforward and will require that you create a password and confirm your account through a verification mail sent to your email.

Step 2: Deposit Funds 

Depositing the cryptocurrency of your choice is the second step. Depositing is on the assumption that you have cryptocurrencies and therefore want to trade them for the BAT. To do so, go to the tab that reads "funds" and click to select "balances." On this page, you will click to select your preferred coin (the ones you hold) and send it to the provided address.

Step 3: Buy BAT 

To place your order, go to the markets page and find the trading pair that aligns with what you had initially deposited. The BAT should come first in the pair, and the coin you had deposited comes right after the slash sign. A chart showing the price of Basic Attention Tokens pops up right after selecting your trading pair Scroll to find "Buy BAT." 

At this point, you have to select the type of order and therefore key in the amount of BAT you are interested in buying, preferred price, and buy! 

Step 4: Store your BAT in a crypto wallet 

The fourth step is for you to store the tokens you have bought in a crypto wallet. Basically, there are two types of crypto wallets. The hot wallets will enable you to store your BAT tokens online to buy and sell as you please.

The cold wallets will store your tokens offline so that you can store them safely away for a long time. Cold wallets can be in the form of hardware wallets such as USB drives. 

How to sell Basic Attention Tokens in the UK

Follow the following three-step process to sell BAT in the UK:

The first step is to sign in to your exchange account. Secondly, sell the Basic Attention Token in exchange for the cryptocurrency you want. The two most commonly used cryptocurrencies are Bitcoin and Ethereum. These two make the whole process of accessing tokens easy and simple because they retain high volume and liquidity capacities. 

You can now comfortably transfer the cryptocurrencies to the exchange platform that you had initially selected. Having signed up and verified your account, you can transfer your cryptocurrencies to your chosen exchange platform. 

Sell your cryptocurrencies for your preferred currencies and finally make a withdrawal depending on your selected currency. The withdrawn amount goes straight to your specified bank account. 

Which wallets can I use to hold Basic Attention Tokens?

Multiple kinds of wallets can be used to hold the BATs. The main consideration is that the wallet must be an open-source one and a devolved ad exchange. The wallet must be tailor-made to support the BAT token. Among the best wallets to use include, but are not limited to, the following; desktop wallet, web wallet, mobile wallet, hardware wallet, and paper wallet, depending on your preference. 

How Basic Attention Tokens work

Open-source privacy-oriented browsers use ad shields to restrict the access of all unwarranted ads and trackers. The browsers also calculate user attention credit to the inbuilt ledger system, which improves the advertising experience of individual users. In this determination, the browser determines the total time individual advertisements are viewed by online users and the number of pixels they can see. 

It then matches unique content with respective internet users. Having switched on the ad features, individuals using the browser are liable for payment in Basic Attention Tokens, aligned with the amount of time they spent on the advertisement.

Key things to consider before buying Basic Attention Tokens in the UK

There are certain things that you need to consider before buying Basic Attention Tokens include:

Performance 

Among the things you must assess is how the tokens are performing. Find out how Basic Attention Tokens have been doing over the past few months, a determination that will help you reach an informed decision.

Volatility 

Volatility stands as a key characteristic of cryptocurrencies. Find out whether you can manage the high risk of investing in the BAT crypto market. 

Usability 

Check whether Basic Attention Tokens have other uses other than being traded for monetary value. A token having multiple uses is one way to safeguard it against market depressions should one of its uses be threatened. 

Conclusion 

Basic Attention Tokens are decentralized and straightforward digital ad platforms operating under the Ethereum blockchain. The platform is defined by several components, including a digital advertising exchange that facilitates advertisers in purchasing space and capturing the attention of internet users. 

By reading this guide, you will be equipped with the knowledge you need to know about investing in BAT tokens. The guide has been well detailed to take you through all the processes involved and ensure that you have an easy time buying BAT tokens in the UK.

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