BAT

Cryptomoney:

The Example of the Brave (BAT Basic Attention Token)

The BAT is an interesting cryptomoney, in exchange for non-intrusive advertisements displayed punctually at the bottom of its screen the Brave web browser offers us BAT tokens (BASIC ATTENTION TOKEN). These tokens can then be used to pay for online services (websites, blogs, youtube creators…). The use is simple, launch the Brave browser and activate the program “Brave Rewards”. A wallet is automatically created and the allocation of tokens is automatic once the ads are validated. Tokens quickly accumulate in the wallet like coins with the value in Dollars just below. :)

To remunerate a creator he has to registers to the brave program, and quickly we can send him BATs.

Now what happens if you want to retrieve your BATS in currency from your bank account or send them to another crypto wallet.

Uphold

Brave entrusts the management of the transfer of the tokens to Uphold (a company whose head office is located in the USA). You have to create an account on Uphold, give your address, your name, your age, a passport photo, a photo of yourself… Give the delegation of the management of your portfolio to uphold.

After this singular step, we realize that not all the chips are accessible right away. Yes, because Brave transfers the tokens to Uphold as he goes along. Like a SEPA transfer, this operation takes time.

The transactions

Once this operation is completed, try to send a BAT token to a recipient. This works pretty well and free of charge, the token is also received quickly. We notice that the amount is debited from the account/portfolio brave on the browser as on Uphold.

Let’s try to send directly to an Ethereum wallet as Ether. This is where things get complicated. Uphold sends BATs as Ethereum tokens, if you send your BATs to an Ethereum wallet you get back… BATS and not Ether.

You will have to create an ethereum card in Uphold account and make the exchange there before sending the funds to your external wallet. Let’s try to send to another currency then, the platform announces you 1.95% transaction fees excluding mining fees. After 3 tries the sending is done, it’s much longer and requires more processing time, don’t be in a hurry :) But it works.

That’s all for my first contact with BAT.


395 Words

2020-05-08 15:17 +0200