How To Short Basic Attention Token (BAT)

    • James Page

James HeadshotAuthor: James Page - Last Updated on June 28, 2022

Summary: Shorting Basic Attention Token is pretty straightforward, all you need is a cryptocurrency trading platform that allows for short selling. While there are a few exchanges out there that have added the ability to short crypto, our recommendation is to use eToro. They’re well-known, have a global presence, and are trusted by millions of users from 100+ countries.

We’ll be using eToro in our guide, you can sign up with one of the sign-up buttons below.

Global: Sign up with eToro

USA: Sign up with eToro US

Basic Attention Token

Before we get started, let’s quickly explain what shorting is (for those that are new to it). Shorting is the practice of selling a cryptocurrency hoping it will drop in price so you can buy it back later for cheaper… which, if successful, will give you a net profit.

It might sound a bit complex but don’t worry, it’s a lot easier than you might think.

How to Short Basic Attention Token

Shorting Basic Attention Token can be done in 4 steps:

  1. Find a cryptocurrency exchange
  2. Sign up with the exchange
  3. Fund your account with fiat or crypto
  4. Short Basic Attention Token

1. Find a crypto trading platform

As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.

You can, of course, use any other crypto trading platform that allows for short selling.

etoro crypto

2. Sign up with the cryptocurrency trading platform

Let’s start with creating an account on eToro.

Global: Sign up with eToro

USA: Sign up with eToro US

 

eToro sign up form

The sign-up process is very easy, as is the verification that needs to be completed afterwards so you can get started.

3. Funding your account

Next is funding your account. You have several deposit methods to choose from when depositing funds into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.

4. Short Basic Attention Token

These are the steps to follow to execute a short sell:

  1. Go to the search bar at the top, find Basic Attention Token by entering the name.
  2. On the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
  3. At the top of the trading interface: Click on sell to short the crypto.
  4. Enter the amount for which you want to sell Basic Attention Token and click on “Open Trade”.

Once you’re ready to close the trade, hopefully when the value of Basic Attention Token has dropped, go to your Portfolio, find the Basic Attention Token trade, and click on the red cross to close the trade.

If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.

Congratulations, now you know how to short Basic Attention Token!

Global: Sign up with eToro

USA: Sign up with eToro US

 

Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.

 

Where to Short Basic Attention Token (BAT)

Aside from eToro, the other major exchange you can use is Binance.

While Binance tends to be a bit more advanced when compared with eToro, they do have a lot more digital assets to trade with.

 

Frequently Asked Questions

Can I short Basic Attention Token on Binance?

Yes, you can short Basic Attention Token on Binance. They have over 300 cryptocurrencies on offer, have a decent phone app and a lot of advanced trading features.

About Basic Attention Token

One of the most frequently asked questions about Basic Attention Tokens (BAT), is "Why does Brave Browser require a token, (BAT), to do this?" Brave has a unique but respectful approach in digital advertising. Brave's advertising is privacy-centric, meaning it does not track users, and only allows you to opt in (you can only see it if your choose).

Here's where Basic Attention Tokens (BAT) come in. It is a reward token embedded into Brave's browser that uses Ethereum blockchain to reward all participants in the ecosystem: the user, the advertiser, and the publisher.

Brave Inc. issued the Basic Attention token (BAT), which is a cryptocurrency to support their Brave Web Browser.

Brave Web Browser's first founder was Brendan Eich, web pioneer (creator of JavaScript) and Brian Bondy, the CTO. Brave browser was then launched in 2016 and featured the key feature of ad blocker and tracker blocking.

Eich, Bondy and Bondy co-created Basic Attention Token. The utility token was incorporated into the browser, and officially launched on May 31, 2017. It managed to raise $35,000,000.

Brave browser is known for its privacy-centric advertisements, which do not track users. They are also only opt-in. Brave offers users the opportunity to earn BAT by opting into Brave-related advertisements. Publishers are also eligible for a share of BAT if they retain quality users. Advertising funds are more profitable if advertisers are able reach quality audiences willing to pay attention to their ads.

Users who own BAT can opt to automatically donate their tokens to publishers based their website visits or manually tip them. Brave is a trusted platform for publishers such as The Washington Post and Vice, The Guardian, among others.

BAT challenges the status quo and offers an alternative to paid advertisement. You can be tracked by cookies online and have your privacy compromised in an effort to maximize ads revenue. BAT is a refreshing way to empower users and to benefit publishers.

Digital advertising will become increasingly difficult to sell in the future as internet users are more vigilant about their privacy. In terms of filling the revenue gap users may be reluctant to give their information to advertisers. Basic Attention Token could play an important role.

Related: