Introduction
In this section, I would be explaining the concept and introduction of the token including the background, team, exchange platform the token can be traded, etc. Today I would be writing and trading on the BAT token.
The Basic Attention Token (BAT) was created and launched in 2017 by the two Founders Brendon Eich and Brian Bondy. The BAT is created to help and aid advertisers to gain attention for their products. The Basic Attention Token can be earned from a browser called Brave. This browsing platform provides an advertising platform for users by providing good ROI on what they spent on advertisements.
The BAT is generally created to to help advertisement companies to fairly reward their users on using the blockchain network. The BAT was able to raise initial coin offering's amount of about $35 million just after a minute of launching the token. BAT tokens are used in rewarding advertisers and also advertisers do also use the BAT to purchase and make payments for any advertisement campaigns that they do.
On the Brave browser, users receives a percentage share of about 70% of the amount paid by the advertisers on the platform whilst the little percentage goes to the Brave browser platform.
The Team Behind Basic Attention Token
Let's now look at the team members involved in the Basic Attention Token. As mentioned earlier, there are two major founders of BAT and they are Brendan Eich and Brian Bondy. Brendan Eich is the CEO for the brave software inc and this company is the administrator of the BAT and brave browser platform. Brendan Eich was the CTO for Mozilla Firefox browser. He launched an upgraded version of the Mozilla in 2004 which he named as Mozilla Firefox browser and that is what we know and use today in our computers.
Brendan Eich was also one of the investors of JavaScript in 1995.
On the other hand, Brian Bondy who is currently one of the founders of the BAT joined it as a CTO. He has previously been a reputable engineer and also a worker in Khan Academy as well as a good experience in Software before joining Brave. There are other team members for the Basic Attention Token and they can spotted from the screenshot taken above.
Exchange Platforms that Basic Attention Token can be traded on
There are several exchanges in which BAT can be traded and they include the following; Binance, Poloniex, Huobi Global, KuCoin, Bybit, Gate.io, Binance.US, Bittrex, OKX, Phemex, AscendEX, AAX, ProBit, etc.
Today, I am bullish on this token because, I have the firm believe that it is going to rise in the near future and we can even testify from the amount of money that was earned from the initial coin offering just one minute after it was launched. A huge sum of $35 million was earned.
Moreover, about 20 million plus users where seen to be active and vibrant on the Brave browser platform that was in 2020. We can imagine the increase of users for this year.
Finally, due to how its payment is done in an easy and simply manner. They directly pay users for their advertisement that they do in Brave Browser.
In this section, I would perform a real trade by using the knowledge I have acquired from the professors in this community. I would use two indicators to perform my technical analysis on this token before trading.
In this assignment, I would be using the Median Indicator and the RSI indicator. From the chart shown below, we can see that the green color cloud is formed an it is an indication of a bullish trend in the price movement of the asset.
This first chart shown below was a 5 MINS analysis I did for it after which I performed a 15 MINS analysis as well.
Moreover, we can see that the RSI indicator was used to confirm the bullish trend in the price of the asset. I then executed a buy order using in my phone using poloniex trading platform.
From the chart indicated above, similar conditions of a bullish trend signal was observed and confirmed. I then confirmed my entry signal after which I executed a buy order. The following is the statistics of my trade executed.
I entered the trade at a price of $0.0.82306197 and take-profit at $0.8265 stop-loss at $0.8200.
The Reward to Risk ratio of my trade was set at 1.5 to avoid huge loss when trade does not go in favor of my entry position.
I have a plan of holding the Basic Attention Token for about one week and probably by Saturday or Sunday, I will or might sell it. It has a good and smooth blockchain that permits users to advertise on the platform.
It is also very advisable to hold it for a little longer because of how its demand in the market with a rise or increase in the circulating supply as well as the market capitalization.
It is good to hold it for a little long time and for that matter, I would hold my token for about a week or more if price changes is in favor of my trade.
Yes of course, I recommend this token to everyone to invest into it because it has a brighter future. I believe that BAT would rise very high in the near future when the price of BTC inflates in the market.
Basic Attention Token can be included to your portfolio but before then It is also advisable for everyone to perform a personal research before investing into the token.
In conclusion, I would briefly summarize what we have done so far in this article. We have discussed the concept of the Basic Attention Token and some of the uses of this token. We again listed the founders of BAT as well as the exchange platforms in which the BAT can be traded.
Moreover, we discussed some of the reasons that I am bullish on this token today. We also performed a technical analysis using two indicators together to identify entry points on the BAT Chart. I also explained my opinion on whether to hold for long or not. Finally, I recommended this token for everyone but with a caution of making your personal research before investing.
I would like to say a very big thank you to professors @nane15 for the wonderful lessons they have been lecturing us with.