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Basic Attention Token (BAT) in Crypto IRA Retirement Accounts at iTrustCapital

By iTrustCapitalJuly 20, 20213 minutes read
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Understanding Basic Attention Token (BAT) and Brave Browser

Brave is attempting to disrupt the $130B+ advertising industry. Investors can now invest in that disruption through their Crypto IRA retirement account at iTrustCapital with the Basic Attention Token (BAT).

Brave Browser and Digital Advertising Overview

Brave Browser is a privacy-focused web browser that works with cryptocurrencies. The Browser is designed so websites cannot track your actions. In addition, it has an ad-blocking feature that you can enable to enjoy smooth browsing without interruptions.

What makes Brave unique is that it is the first internet browser that rewards users with cryptocurrencies. This unique feature has seen the growth in popularity of Brave globally as millions look to take part in the crypto revolution. 



Brave Founding Team / Community

Brave is the brainchild of Brendan Eich, co-founder of Mozilla and developer of the Javascript programming language. Brave was envisioned as a solution to an existing problem in the digital marketing industry. Readers on browsers are faced with intrusive ads as publishers and advertisers seek to maximize their reach without paying huge fees.

Brave aims to solve these problems by redistributing funds between advertisers, content publishers, and readers using blockchain technology. This, in theory, reduces the number of intrusive ads and protects user's privacy when surfing the web. 

Brave integrated its native token Basic Attention Token (BAT), as the utility token to achieve this. However, its ecosystem is not limited to BAT since Bitcoin was initially used to reward users.

Apart from Brendan Eich, other key members of Brave Browser include Brian Brody, a co-founder, and developer with experience with Khan Academy and Mozilla. In addition, Brave has an extensive team with financial and tech background. 


Basic Attention Token History/ICO

As earlier stated, the Brave ecosystem is powered by its unique token Basic Attention Token (BAT). The ERC-20 token was launched via an Initial Coin Offering (ICO) on May 31, 2017, to massive success. $35 million worth of BAT was minted within minutes of the ICO. In addition, the BAT team received about $7 million in investment from venture capitalists in funding. 

BAT has a total token supply of 1.5 billion. Since the ICO launch, Brave has expanded massively with more than 20 million active monthly users. Basic Attention Token has also circulated widely and is held by more than 300,000 wallets globally. It is also one of the few cryptocurrencies with about 99% of its token in circulation, making it almost fully diluted. 


What is Basic Attention Token used for? 

Basic Attention Token is a utility token and differs from popular cryptocurrencies like Bitcoin and Ether. It is used to measure, reward, track and sell the user's activities via a simple process. 

Advertisers exchange fiat money for BAT on exchanges to pay publishers. Publishers place ads on their content, and users get rewarded for viewing the ads. Users can use the BAT received to buy services that Brave Browser offers or exchange it for fiat money on supported exchanges. 

The interesting part is that users choose whether they want to view ads or not. Brave, by default, is set to no ads. To view ads, users have to join a program called Brave Rewards. This ensures that their browsing experience is not interrupted by intrusive ads, but still allows the viewer to get paid to view them.

In addition, publishers that create popular content can also earn when readers tip them using BAT. 



Current Basic Attention Token (BAT) Use Cases

Basic Attention Token can be used across a wide variety of industries. This includes decentralized finance, centralized finance, gaming, commerce, philanthropy and more.

BAT token holders can lend their tokens on major DeFi protocols like Aave, Compound for rewards. They can also lend their assets on centralized finance platforms like BlockFi, Nexo, and Binance. 

Brave has also been integrated into blockchain-based gaming platforms and collaborative efforts for NFT purchases. In addition, the popular Brave Swag Store provides eCommerce integrations as well as NFT collectibles. Lastly, Brave has also integrated a support widget that allows users to support verified causes using BAT as a means of payment for donations. 

Important Note: All investments involve substantial risk of loss.  All trading strategies are used at your own risk and you are responsible for the financial resources you utilize.  If the market moves against you, you may sustain a total loss of the initial amount you allocated to the investment.  you should not engage in trading unless you fully understand the nature of the transaction you are entering into and the extent of your exposure to loss.  If you do not fully understand these risks,  you should seek independent advice from your financial advisor.  iTrust is not an investment specialist, tax specialist, financial planner (certified or otherwise), or retirement advisor, and iTrust does not provide investment advice, tax advice, financial planning services, or retirement planning or retirement-specific advice.  iTrust facilitates the purchase of digital currency and precious metals, nothing more, and charges a fee for the service it provides.  All investment decisions are made by iTrust users.  Please read the full Risk Disclosure.