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Basic Attention Token (BAT) is a cryptocurrency that is used as a reward system on the privacy-focused Brave browser, which is built on top of the Ethereum blockchain. Brave also serves as an advertisement exchange, where publishers and promoters can post their ads without disturbing the content.
We kindly invite you to keep reading this article if you would like to find out whether is possible or not to use BAT for online gambling purposes.
The BAT is an ERC20-based token that works on the Brave browser as a utility crypto used to reward the attention that a user gives to content on the browser. Users are paid in BAT with 70% of the gross ad revenue, and publishers receive the rest of 30% in BAT as payment from the advertisers which publish their content.
Advertisers provide BATs to publishers to run their ad campaigns, and users, in return, are rewarded with BATs for viewing the ads published on the browser. User attention on the Brave browser is estimated in real-time via valuation metrics, including the visibility of the advertisement, how much time was spent on the ad, and the traditional cost-per-action model of user engagement. Other factors are also taken into consideration in order to derive attention value.
User attention statistics are recorded by the Brave browser anonymously on its ledger to accurately reward the publishers for how much attention an ad received from the users. The BAT token is used by the blockchain to decrease fraud for its advertisers and to increase the effectiveness of ad targeting (ad relevance is derived through machine learning models that anonymously match ads with the interests of the user), without compromising the privacy of the user (BAT stores the user’s private data on the device on which he accesses the Brave browser).
BAT cannot be mined or staked, so it can only be acquired via using the browser or on exchanges.
Basic Attention Token was created to support a unique ecosystem that enables users to choose whether they want to be exposed to ads, and it pays them if they choose actually to watch the ads. Although BAT is at its core an ERC20 token, it comes with a unique value proposition that can disturb digital advertising on a global scale.
As mentioned previously, one of the most significant advantages of BAT is its disruptive potential for the advertising world. It takes out the need for intermediary ad exchanges, lowers advertising costs, and rewards users for their time invested in watching the ads. The coin has low transactional fees and a fast confirmation rate.
One of the main drawbacks is that the token’s price depends on the performance and success of the Brave browser. Meaning that if the browser is not adopted widely, the token is basically useless.
Who accepts BAT? Basic Attention Token can be traded or transferred outside of the Brave ecosystem. Users can deposit and withdraw BAT to other BAT wallet users and make payments on online BAT casinos and BAT sportsbooks if they accept the coin.
From the payment list of the casino, you find the BAT wallet link and click on it to make the deposit to your balance. By accessing your wallet or exchange account, start the transfer by entering the amount of BAT you want to deposit at the BAT casino and put in the address provided by the site. The transfer of tokens will be executed immediately.
The withdrawal process involves you initiating a withdrawal request from your BAT casino account wallet and mention the wallet to which you want your funds to be moved to. Wait for the request to be processed by the casino, and then the coins will be credited to your wallet.
There are not so many Basic Attention Token casinos that support BAT deposits or withdrawals. Most of the platforms that will allow you to gamble with BAT feature only crypto options instead of fiat and have a very limited game selection, consisting mostly of slots online.
The security of the BAT token is provided by the Ethereum blockchain, as it runs on its ERC20 protocol.
The legality of online gambling varies from country to country, and while in some places it is illegal to play online using fiat, there are no specifications or restrictions when it comes to crypto betting or gambling. This means that you can use BAT to bet or gamble online without having to worry about any legal issues.
If it has been specified in your country’s gambling legislation that using Bitcoin casino or Ethereum casino is forbidden, then there is a high probability that using BAT is also prohibited. Provably Fair policies are usually enforced on crypto-only casinos in order to cryptographically randomize the outcome of their games and prevent rigging from the casino operators.
To be able to get BAT tokens, you will have to go to an exchange which supports the coin. Another option is to download and set up the Brave browser, enable the Brave rewards option and the Brave ads feature. Ads will appear at different intervals throughout the day, and when they do show up, you will have to click on them to get BAT rewards. The rewards you made will be credited to your wallet on a monthly basis.
Basic Attention Token can be purchased or sold on many exchanges, including popular ones, such as Binance, Bittrex, Bithumb, Bitfinex, Coinbase Pro, CREX24, HitBTC, Huobi, Kraken, Poloniex, OKEx, and UPbit.
Most of the pairs are with Bitcoin, Ethereum, and Tether, but you can also trade BAT against fiat options. There are 4 exchanges where you can find the BAT/EUR pair: Kraken, Bitvavo, CoinMetro, and LiteBit.eu. Moreover, there are 8 USD pairs on Kraken, Alterdice, Bitfinex, Binance US, Bittrex, CoinField, Exrates, and P2PB2B. South Korean traders have 7 options with the KRW on the following exchanges Bithumb, UPbit, Coinbit, Korbit, Gopax, ProBit, and Coinone. AUD pairs are on three exchanges.
You will have to create an account on an exchange, pass the KYC, deposit the money, and buy BAT with them by completing an order. After the order has been filled, the tokens will be credited to your exchange wallet.
Basic Attention Token is a coin that has much potential if its main platform manages to get traction, but for gambling and betting online, the token is not one of the payment options you can use in many places.