14 Reasons Why You Should Invest in BAT (Basic Attention Token)
There are lots of reasons why you might want to invest in Basic Attention Token (BAT) . Many think that they have to be a savvy investor with lots of capital — but, with some common sense and research, it’s pretty accessible, even for beginners.
BAT or Basic Attention Token is the fuel or the currency used in the block-chain based digital advertising platform. Users on this platform can either be advertisers or viewers. Through the Brave Browser, users can watch adverts placed by other users and receive BAT tokens for their time and attention.
Advertisers place their adverts on the platform to increase their brands and products and pay the platform in BAT tokens. Therefore, the main purpose for BAT is to pay for running advertising campaigns and reward those that view and draw attention to these ads.
BAT token was launched in 2017. It was developed by two accomplished developers in the internet browsing software industry namely, Brian Bondy and Brendan Eich. It managed to raise $35 million in just under a minute in its initial coin offering (ICO) and has since developed into an engaging advertising ecosystem.
BAT is one of its kind in this industry and good altcoins to consider adding to your investment portfolio. If you are wondering if you should invest in BAT, here are a few reasons why you should invest in BAT.
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14 Reasons Why You Should Invest in BAT
There are all kinds of reasons why you might want to invest in Basic Attention Token — probably some you’ve never considered. Here are 14 that we found. And If you are a long-term investor, BAT could be a very good investment for you.
1. BAT has a Massive Following
Among the many reasons that make a token or a coin valuable is its popularity. As the fan base of a token continues to grow, so does its demand. The rise in demand subsequently leads to an increase in the value or price of that token.
This platform has had a lot of initiatives in the United States, United Kingdom, and Canada. Most advertising campaigns launched on this network arise from these three countries. There are more than 2,500 launched campaigns since the launch of the platform from over 190 countries.
There are more than 400 advertisers on the ecosystem and more than 30 million monthly active users. BAT is also now held in more than 368,000 unique active wallets and approximately a million content creators and counting. With such a massive following, you expect the BAT token to continue rising in value, considering that all users must use this token for any activities on this platform.
2. BAT has a Practical Use Case
A lot of cryptocurrencies have been developed since the advent of this concept back in 2008 with Bitcoin. After Bitcoin's success, other developers came into the industry, copying the pioneer coin and others creating digital currencies with real-use cases. Most coins are pump and dump projects whose aim is just to con a few people and fizzle out.
There are currently more than 4000 cryptocurrencies, but only a few bring any value to the industry. BAT is one of the few among the top 100 digital coins with substantial use in the real world. BAT has ventured into the advertising industry to try and bring order and some sanity to this industry. It seeks to change how content creators, publishers in the advertising industry, are paid and how users will interact with the adverts.
It is this practical and legit use case that gives this token its value. There is also a clear roadmap on where the project is headed. Considering the developers behind the project and the success they have had with their previous projects, you could just consider investing in a few of these tokens.
The Brave browser, upon which BAT operates, already has more than 100 million downloads with more than 30 million monthly active users. The browser's distinct advantages and its compatibility with multiple operating systems make it legit and popular. It is passing this legitimacy and popularity to the BAT digital coin.
3. Partnerships with Established Brands
It is paramount to have serious partners in any project to appear serious and enhance its reputation. Apart from brand enhancement, the partners also bring business to the project. They bring their existing clients and their networks to help grow the new project.
Most cryptocurrencies are pump and dump projects. They collect ICO money and close shop as investors wait for their returns. BAT with its advertising ecosystem is a unique project that has not been tried in the cryptocurrency industry.
The project seems promising and has attracted very serious partners. Some of these include Verizon, eToro, Nexo, Purple, Upland, and BlockFi among others. It continues to draw more users into the platform as it gets more and more partners.
More than a million participants are currently using BAT as a transactional token arising from some of the biggest Internet and digital coins companies. The more BAT users, the higher its value will grow to make it a worthwhile investment option.
4. BAT Has a Serious Team Behind it
There are more than four thousand cryptocurrencies, but most are just trial versions of not very established developers. A lot of them do not even have teams improving their features or maintaining the system. You will even find that has just one person managing everything.
Most of these cryptocurrencies are not serious projects. BAT ad ecosystem is a different case. It is among the few cryptocurrency projects that have a strong backing with very established developers. Just to mention but a few, the two co-founders have more than 50 years of experience in software development between them.
His co-founder Brian has worked as a senior software engineer at Mozilla and Corel Corporation. In addition to these two, there are about 16 other experienced developers, researchers, and engineers. This depth is an indication of just how this project is going to be big.
5. BAT is Bringing a New Concept to the Market
Advertising is a multibillion industry and has a lot of potential and opportunities. Many companies are now tapping into the digital form of advertising, phasing away from the traditional forms. Very few companies have identified the opportunity cryptocurrencies bring into this industry.
Considering that many people still find digital currencies as a foreign concept, most advertising companies are shying from trying out cryptocurrencies in their business developments. It is this gap that the BAT project hopes to fill and take full advantage of. With their Brave browser and BAT, this project aims to simplify digital currencies in the advertising industry.
Since the entire ecosystem is based on blockchain technology, it seeks to eliminate the existing inefficiencies and violations of privacy in the advertising industry and bring in a new way of doing business.
Eliminating the middlemen or the intermediaries that have always controlled the industry gives users unique opportunities to maximize their creativity and by extension, their earnings. Investing in the token could be a good idea considering the options available and the project's potential.
6. BAT has Multiple Purchasing Options
There are many potential investors who wish to pump their wealth into crypto but are not conversant with the rather long processes of buying these coins.
The BAT ecosystem has made it very simple for anyone who wishes to acquire its platform’s token. You can easily use your credit card to buy BAT tokens or utilize other crypto assets if you are already conversant with the industry.
The platform has a desktop and a mobile app that allows users to manage their fiat as well as their cryptocurrencies with ease. You can easily convert your BAT tokens to cash if you so wish to without having to go through a lot of processes. Investing in such a token gives you some peace of mind.
You rest knowing that your money is safe and that you can access it without too many unnecessary restrictions. The transaction charges are also too low, and you can increase your earnings to cover those charges by simply watching the ads on the platform.
7. You can invest in BAT with no Money.
Most cryptocurrencies require you to have some money to invest. You need to deposit some funds in an exchange of your choice, then place an order for the number of coins you need. You can also use other crypto assets to acquire other crypto assets, but the bottom line is that you must deposit some funds.
BAT is a little different from these other coins. There is an option to deposit fiat to purchase the tokens, but you can also acquire this token without any cash. The ecosystem is an advertising platform that draws its value from getting attention from potential clients. It means, therefore, that you can invest your time instead to view ads and earn some BAT.
Those who place ads know that they will get an audience, so they pay for the advertising space on the platform. The audience gets to earn some bonus by just taking their time to view the ads. You can be part of this audience and gain some too.
8. BAT has a Low Entry Point
BAT is a relatively new cryptocurrency. Its price is still on the lower side of the dollar at about $0.577. At this price, anyone has the potential to invest in a few tokens and wait for them to increase in price. You can spare a few bucks that you would have otherwise spent on coffee or beer and acquire some coins.
You only stand to gain if the token rises in value, but not as much in the short term. With just $5, you could buy about nine or ten tokens. This investment does not promise you great returns in a short while, but you never know what might happen in the future. The highest this token has been in the last year was $1.65.
If you were to go big and buy like 1000 tokens which would cost you about $500, and the price surpasses its one-year high, you would make some good money in the long run. A loss would not be as much either so that you can include some of these tokens in your portfolio.
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9. BAT is Using Brave Browser
BAT developers have established software engineers that had already created a browser on which they integrated BAT. They had launched this browser in 2016, a year before launching BAT. By the time of launching BAT, Brave browser had already established a massive following and users.
Currently, the browser has over three million users and growing. Unlike other browsers, this one blocks ads, protects users' private data, and is open-source hence its growing popularity. Those who wish to view ads on the browser get BAT as a reward and can use the same to purchase helpful software and other products or place their ads and pay.
With the number of users on this browser growing by the day, the number of BAT users is also bound to grow and probably contribute positively to its value. The more the demand for BAT on the Brave browser, the higher its price could rise.
10. BAT has been showing an Upward Trend
BAT was launched back in 2017 as the fuel token for the BAT digital ads platform. It managed to raise $35 million in under a minute in its ICO. Since then, the token has steadily increased in value. Its all-time high was $1.55 but has since been hit by the turbulence that has affected the crypto market in general.
The coin has managed to sustain two bear market trends in 2018 and just recently in 2021. It is its overriding concept and the potential behind it that work in its favour rather than relying on dominant coins’ performance. When writing this article, BAT was retailing at $0.5799, a significant improvement from its one-year low of $0.1748, a 231% change. You would have made about $2000 in just one year had you invested $1000.
The token seems to be stabilizing and could start going up again. There is a possibility of BAT surpassing the $1 mark in the very near future. While this is not a guarantee, it would be worth having a few of these tokens in your portfolio looking at the crypto market trend.
Read More: Why Basic Attention Token Will Skyrocket
11. Listed on Major Exchange Platforms
You cannot overlook this factor when considering digital coins to add to your investment list. Apart from the top ten popular coins, other coins or altcoins struggle to get listed on major crypto exchanges. The importance of getting such a listing is drawing more investors and getting the market to hype your project.
Coinbase and Binance are among the biggest digital coins exchange platforms. It is usually very difficult to have a coin listed on these two platforms, especially for new coins with relatively low market caps. BAT seems to have impressed these major exchanges as it has won a spot on Coinbase ahead of many other altcoins.
This listing will play a significant part in the growth of this project, and consequently, its price. As more and more crypto investors learn about it, they will probably start to include it in their trades. As long as a coin is traded actively, it increases its price and market capitalization and makes it an ideal coin to invest in.
12. BAT has a Limited Supply of Coins
Some of the top coins in terms of value have a limited number of coins in circulation. The limitation plus the value they have in the market makes those coins very valuable. These coins also have a cap or a maximum number of coins that will ever be in supply. That means that users will have to make do with the capped supply.
Bitcoin, for instance, has a limitation of 21 million coins that are currently in the process of getting mined. BAT also has a limit to the number of coins that will ever be in circulation. The developers put this cap at 1.5 billion coins. Currently, BAT coins in circulation are 1,498,303,399, almost getting to the maximum supply.
Once it gets to its maximum supply, no more coins will be issued, so users will have to share the 1.5 billion tokens. Considering that the BAT ads ecosystem is growing in popularity and attracting more users, demand for the tokens is more likely to increase.
If the demand goes up, then the coin's price also goes up until it stabilizes at a particular point. Stability gives BAT an edge over many other altcoins.
13. Relatively High Market Capitalization
Whether you are investing in stocks or digital currency, it is essential to check the market cap of the asset you wish to invest in. This figure is indicative of the strength of that asset in the market. In the case of digital currencies, it shows you the strength the asset has to sustain market turmoil.
A coin with a high market cap can sustain negative effects in the market like it recently happened a few months ago. It is also not affected by the decisions of a few individuals.
The higher the markets cap, the better. Bitcoin, for instance, has a very high market cap but also has a high retail value making it a bit risky to invest in. BAT does not have a very high market cap compared to other big cryptocurrencies, but it has a relatively stable value.
At its retail price, and with a market cap of approximately $858 million when writing this article, it is a rather safe bet to have a few hundred or even a thousand coins. BAT has managed to sustain itself even with the recent crypto market hits while many other altcoins went under.
14. A High Trading Volume
BAT has not been around for long, but it has already taken a footing in the crypto industry the few years it has been around. It is currently recording high trading volumes and an indication of its good liquidity. It is essential to note the trading volume, especially the 24-hour trading volume, before buying a digital currency.
A cryptocurrency with a high trading volume means that it is highly liquid. In simple terms, it means that you can easily buy or sell the tokens if you are a spot trader. You can easily convert your tokens into fiat currency.
At the time of writing this article, BAT had a 24-hour trading volume of $103 million, according to Coindesk. This figure is impressive considering its position in the cryptocurrency market.
When you add it to your portfolio, you will not get stuck with it when you need to convert it into fiat and make some profit. You will always find buyers in abundance, considering it relatively good demand.
Should You Still Invest in BAT?
If you are still not sure whether you should invest in BAT, do not worry. It is fine to have that fear at first, especially if it is your first time trying out cryptocurrency investments.
All cryptocurrencies are volatile and prone to market turbulences. Even with their practical uses, digital coins can still lose their value and lead to serious losses. Their relevance remains with their use cases, speculation, and those managing the projects.
You must do your due diligence before investing in any coin or token. Ensure that you understand what that particular digital coin is all about, its road map, and its prospects. You cannot foretell everything, but at least you can distinguish between a serious project and a scam or pyramid scheme.
When it comes to investing, do not be greedy or swayed by market forces. Ensure you invest money that you can afford to lose, as these coins may quickly be worthless in a matter of days, if not hours. Weigh your risks and options to ensure that you do not end up bankrupt if anything goes wrong, but also to make some decent profits when the gamble goes in your favour.
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