basic attention token wallet

Basic Attention Token Wallet

BAT token is used to power the Brave browser which promises to create a more private and fair internet eco-system. This article looks at compatible Basic Attention Token (BAT) wallets and give a specific guide on how to store BAT with the Ledger Nano S.

What is Basic Attention Token (BAT)

The Basic Attention Token was launched in 2017 and is an ERC20 token based on the Ethereum blockchain. Interest was strong in the token due to its leadership from Brendan Eich who has quite some pedigree being the creator of JavaScript and co-founder of Mozilla and Firefox. Building on his past experience Brendan and the team launched the Brave Web Browser, which seeks to change the way digital marketing is conducted.

The Brave Browser blocks traditional ads, trackers and malware.  User behaviour of those using the Brave Browser is anonymously monitored locally and then targeted ads are displayed. Those wishing to display adds pay for the service in BAT,  users are paid in BAT for allowing ads to be shown to them and the greater proportion of tokens is rewarded to publishers on the basis of popularity.

Best Basic Attention Token Wallets

The table below shows a selection of suitable ERC20 wallets which would be compatible with BAT. To search for wallets suitable with other crypto check out the wallet tool

Being an ERC20 Token there is a good selection of wallets available for BAT. If you have a larger holding of any cryptocurrency hardware wallets are a good investment to keep your coins and tokens safe. Both the Ledger Nano S and Trezor are compatible with BAT. In the next section for information we run through the process of transferring BAT Tokens to your Ledger Nano S.

Transferring BAT to Ledger Nano S.

BAT was recently added to Coinbase, in this next part of the post we will look at how to transfer BAT from Coinbase to Ledger Nano S.

Before you start make sure that you have the Ethereum app installed on your Ledger device. If you don’t follow this process using Ledger Live.

1 Connect you Ledger device using the USB cable to your computer, then unlock it using your pin

ledger enter pin to unlock the device

2 Open the Ethereum app on your device

Ethereum app ledger

3 Open https://www.myetherwallet.com/. Double check you have the correct address to avoid phishing attacks

4 Choose Send Ether  Tokens from the toolbar and ensure that Ethereum is selected for the network in the top right

MyEtherWallet send tokens

5 Choose Ledger Wallet from the list and then click the Connect to Ledger Wallet button

MEW connect to ledger

6 Select the HD derivation path as m/44/60/0 Ledger (ETH) and the first address from the list.  Then select unlock wallet

MyEtherWallet select address and type

7 On the right hand side of the next screen you will see an account address.  This is the address you would use to send funds to. First click on display address on Ledger and verify the address shown on your Ledger is the same as that shown MEW.

ETH address using MEW

8 Use the ETC address you just located to send you BAT tokens to.  The screenshot below shows an example of doing this in Coinbase Pro

coinbase pro wallet transfer out

It would be sensible to send a small test amount first to ensure that everything is working as expected.  Once this is received you could then send a larger amount with more confidence

 

 

 

 

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