Many cryptocurrencies became popular in 2021. The first six months of the year were wonderful for most digital tokens, including the subject of this post - Basic Attention Token (also called BAT).
Like many digital coins, BAT broke previous price records and won several people over. Though the market has become a little less busy than it was some months ago, people are still interested in the long-term future of BAT.
So, is Basic Attention Token a good investment option for you? Can investing in Basic Attention Token make you rich in ten years?
If you are a true investor, you will understand that it is always better to have relevant information at hand and then make fact-based decisions about investment opportunities. This is even more important when you are dealing with cryptocurrencies, which are known for their volatility.
To help you figure out whether investing in BAT can make you rich in the next decade, we will discuss everything you need to know about the platform and its native currency. We will consider the history of the coin as a digital asset, discuss the current position in the cryptocurrency universe, and then look at predictions from authority websites.
At the end of this post, we believe you will have enough information to decide whether to invest in BAT or leave it for other digital assets or frontline securities.
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- What Is Basic Attention Token?
- What Is Special About Basic Attention Token?
- Will Investing In Basic Attention Token Make Me Rich In 10 Years?
- Price History of BAT
- BAT Price Predictions
- Top Reasons to Invest In Basic Attention Token
- Why You Should Think Twice Before Investing In BAT
- Should You Play the Long-Term Game with Basic Attention Token
- Ready to Invest In BAT? Do It the Smart Way
What Is Basic Attention Token?
Basic Attention Token (BAT) is an Ethereum based token developed to work with the new Brave Web Browser and solves most of the fundamental problems of digital advertising. Basic Attention Token, which is simply called BAT has become really popular among crypto enthusiasts and the wider population who want to have more control over the ads they view when they surf the internet.
Like most cryptocurrencies, BAT was created with a specific set of problems in mind. The exciting thing about the coin and the platforms it works with is that they solve the problems in the most spectacular manner. They make advertising more effective and they make watching ads interesting and rewarding for website users.
One of the most important things to know about BAT is that it centres on the Brave Browser. The special browser and search engine blocks ads automatically and secure sensitive data of users. It allows users to choose to either view an ad or disregard it. When users view ads, they are rewarded with BAT.
What Is Special About Basic Attention Token?
The special thing about BAT is that it brings sanity and lots of happiness to digital advertising. As mentioned earlier, the Brave Browser, which is like the network of the coin blocks ads. It is a great alternative to conventional browsers and search engines. It is also a lot better than social media platforms when it comes to data security and protection of its users.
With Brave Browser, users don’t have to bother about normal ad-blocking software. They can surf the net without getting worked up by unnecessary ads. When they decide to watch an ad, they are rewarded for their attention, which is most probably where the name of the cryptocurrency was derived.
Another aspect of the Brave Browser that has helped to make BAT popular is the way it handles users’ data. The browser and its founding company do not expose users’ data for any issue. Rather, the data are saved locally on the devices and used to serve only relevant ads, which the users can still choose to either see or ignore.
The Brave Browser and Basic Attention Token improve the relationship between advertisers, publishers, and web users. Everyone in the circle handles BAT and can use it for whatever they wish. Here is a brief highlight of how it all works:
- Advertisers pay publishers with BAT to bring their ads to interested users.
- Users view only relevant ads and also earn BAT for their time and interest. Attention is monitored and specifications measured using machine learning technology.
- Personal data of users are not collected but stored on devices.
- Advertisers experience better returns, thanks to increased levels of accuracy and improved efficiency.
More About BAT Token
The background information above about The Brave Browser and its relationship with BAT is to let you know that the Token has a solid background. It might also interest you to know that the Brave Browser team has excellent credentials.
Now that we’ve established the important background, it is time to focus fully on Basic Attention Token. Remember, this is the digital asset you will get when you invest. Its performance/value now and in the future will determine whether it will bring profit or loss.
Basic Attention Token is available in many cryptocurrency exchanges. The implication is that you can trade the asset like other digital currencies. You can also buy and keep if you are looking at long-term investment in the coin. If, as the topic suggests, you intend to invest in the coin with the hope of getting rich in ten years, HODling is the best strategy to use.
To profit from investing in BAT, you need to buy when the price is low and sell when it is higher. For the coin to make you rich in ten years, its value has to improve significantly in the next ten years. This is a possibility, but we can't rush to any conclusion yet.
Will Investing In Basic Attention Token Make Me Rich In 10 Years?
This is the question on the lips of many crypto enthusiasts. Many people made a lot of money by investing in some of the earliest cryptocurrencies and watching them appreciate considerably over many years. Can this strategy work for BAT? Is this a good time to make such an investment? In other words, what are the chances that Basic Attention Token will make you rich in ten years?
Firstly, it is important to remember that cryptocurrency trading is mostly based on speculations. Every cryptocurrency is considered to be very volatile. There are several factors that can affect the market and keeping up with all of them is practically impossible. To determine whether a particular coin will perform well or not, you need to look at its past, its present, and a peep at the future.
To determine whether Basic Attention Token can make you rich in ten years, we will look at its price history, its recent performance and current position on the market, as well as predictions from the right sources.
Price History of BAT
Basic Attention Token had a really successful Initial Coin Offering (ICO). At the time of launch, it was trading at a modest $0.17 per token. In just a couple of days, the coin surprised everyone with its performance. It generated about $35 million and was sold out within blocks. Some potential buyers were even pained when they were shut out after the coin sold out.
The sharp rise of the coin in its early days was somewhat short-lived. It entered a correction phase pretty early, and the price dropped to about $0.09 and market capitalization dropped from its previous high of $285 to $90. BAT reached its all-time low on July 16, 2017, trading for just $0.06621.
Basic Attention Token started rising again after a short while. By September 3rd, 2017, it was trading at $0.2412 per token. It fluctuated considerably in the next few days, reaching another low point of $0.1249 on November 12th, 2017. It started rising again in the third week of November. BAT was able to close the year, 2017, at a price of $0.4122.
2018 started on a good note for BAT. By January 8th, the coin reached $0.8482. It dropped afterwards and was able to finish the month at $0.5094. It fluctuated considerably throughout the year, recording a low of $0.209 on April 11th, 2018. The coin closed the year at $0.1284.
2019 was a relatively poor year for Basic Attention Token. It fluctuated throughout the year, recording its first major low point on February 13th before reaching $0.4142 on April 20th. By the end of the year, the coin was trading at $0.1857
BAT started 2020 at $0.1961, rising to $0.311 on February 14. The price slumped considerably, reaching $$0.1353 on March 20th. It fluctuated significantly between April and August, but by August 22nd, it reached $0.3996. Towards the end of the year, it was selling for about $0.2086.
Recent Performance and Current Position of BAT
2021 was a brilliant year for BAT, though it has shown signs of extreme volatility. It started the year at $0.2051 and rose slightly to about $0.3052 towards the end of January. It started an upswing that saw the coin trading for $0.5617 on February 14th. By March 3rd, it was trading for $0.7672.
BAT reached $1 in the third week of March, trading for $1.231 on March 17th. The uptrend continued with minimal fluctuations till the coin reached its all-time high of $1.65 on April 9th. It started dropping slightly, ending the month of April at $1.2632. It had a slight recovery in May, reaching $1.4143 on the 9th before dropping considerably to about $0.8874 on May 26th. It didn’t improve in June but ended the month at $0.6136. However BAT recovered by the end of 2021, and in November it reached its current all-time high of $1.92.
At the time of writing this post, Basic Attention Token was trading for $1.02. In the last 24 hours, it has recorded a low of $1.02 and a high of $1.07.
Still, at the time of writing, BAT had a market capitalization of $1.5 billion, according to Coin Market Cap. This makes it the 76th ranked cryptocurrency in terms of market capitalization. The circulating supply of BAT is 1.49 billion tokens, which is 99% of the planned maximum/total supply of 1.5 billion BAT.
Basic Attention Token BAT Price Predictions
To have an idea of what Basic Attention Token can be worth in the future, let us look at relevant predictions from authority prediction websites.
Wallet investor is not as enthusiastic as they are known to be with good cryptocurrencies when it comes to the future of Basic Attention Token. Their recent prediction shows that the coin can be worth just about $1.776. In the next five years, they predict that the coin value can appreciate significantly to about $4.420.
Trading Beast is also not too enthusiastic about BAT’s price in the future. They predict that the Basic Attention Token will still be worth between $1.18454 and $1.74197 in December 2022.
Even in the next year, the site predicts that the Basic Attention Token will still be worth around $1.71612. They also predict that the coin will drop to about $1.51638 in December 2024 and remain in that region till December 2025.
Coinswitch also has a discouraging prediction for Basic Attention Token. They predict that BAT will be worth around $0.348 in the next year, $0.527 in the next three years, and $0.658 in the next five years.
Digital Coin Price appears to be more enthusiastic about Basic Attention Token than other prediction websites. The site predicts that Basic Attention Token BAT will finish 2022 at $1.51, $1.77 in 2023 and reach $1.85 in 2024. In the next five years, they predict that BAT will be worth about $2.53 and then reach $4.35 in 2029.
Top Reasons to Invest In Basic Attention Token
As we have established earlier, Basic Attention Token is a special cryptocurrency. It has the potential to transform the way digital advertising is done. Together with the Brave Browser, BAT is aligning the interests of advertisers, publishers, and web users.
Without further ado, here are a few specific reasons to invest in Basic Attention Token (BAT):
1. The Complimentary Product Is Great
The Brave Browser is a complimentary product to Basic Attention Token. By all standards, it is an incredible digital product that has attracted many and will continue to win more fans. As more people choose this wonderful ad-blocking browser, BAT will be adopted by more entities, and that will certainly have a real impact on the value of the coin.
2. BAT Solves Real-World Problem
Basic Attention Token is not confined to cryptocurrency exchanges. It is already used for real-world transactions in digital advertising. Advertisers pay with BAT, and users earn BAT when they watch ads. The coin is already being used for purchases are rewards outside the cryptocurrency universe.
3. BAT Has a Solid Team behind the Scene
4. BAT Is Reasonably Priced At the Moment
Basic Attention Token is currently priced below $1.02. It is one of the most valuable affordable cryptocurrencies you can invest in at the moment. Buying at a cheaper rate improves your chances of recording bigger profits in the future.
Why You Should Think Twice Before Investing In BAT
While Basic Attention Token is a good cryptocurrency with a very good complementary product to drive its adoption, you still need to look before you leap when it comes to making reasonable investments.
Here are a few reasons you may want to think twice before investing in BAT:
1. BAT Is Heavily Dependent On Other Platforms
Though BAT's relationships with Brave Browser and Ethereum are beneficial to a large extent, they can be problematic in the long run. If any of the other platforms suffer major drawbacks, it is certainly going to affect BAT.
2. BAT Has Shown Signs of High Volatility
In few years of trading, Basic Attention Token has shown signs of high volatility. We know that all cryptocurrencies are volatile, but when a coin is considered too volatile, investors and traders will be scared to make significant commitments that can boost its value.
3. Current Predictions Are Looking
From the price prediction section, you can tell that Basic Attention Token is not one of the most interesting crypto assets out there. Most predictions are either negative or highly conservative about the long-term performance of the coin. Obviously, they have their reasons.
Should You Play the Long-Term Game with Basic Attention Token
If you are hoping that investing in Basic Attention Token can make you rich in ten years, then you are willing to make a long-term commitment. But is it really the right move for you?
While we can’t dictate to you about your investment options, we are always eager to give what we believe to be the right advice. Based on what we have covered so far, it is glaring that long-term investment in Basic Attention Token may not yield huge profits.
Regardless of the points raised here, you can still choose to invest in BAT. After all, there are so many positive things about the coin and its complementary product. But remember that you don't have to wait for ten years before cashing out on a juicy deal. Ten years is a long time and a lot can change before then.
Ready to Invest In BAT? Do It the Smart Way
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Regardless of your experience level, investing through eToro will deliver several benefits to you.
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