Anyone who uses the internet is familiar with ad pop-ups every now and then. Most users see them as annoying and unnecessary. However, what happens if the users get an incentive for viewing these advertisements. Everyone likes to be paid for their time; at least I do!
Basic Attention Token is a new cryptocurrency created in 2017 by Brave. BAT aims to promote positive interaction between digital advertisements and internet users. Internet users get rewarded with basic attention tokens when they view advertisements. This is a win-win situation for companies that use digital marketing and internet users.
The best thing about this token is that users can choose to exchange it for other cryptocurrencies, cash it, or hold it. Staking the BAT involves buying and holding your basic attention tokens. Moving on, you can use BAT to get rewards and interests. If you stake your basic attention tokens correctly, you can earn financial interests that will blow your mind.
Best Staking Exchanges In 2022 – Summarized List
- BlockFi – Visit Site
- Nexo – Visit Site
- Crypto.com – Visit Site
- Uphold – Visit Site
- Binance US – Visit Site
1. BlockFi
BlockFi is one of the platforms where you can earn high profits by depositing basic attention tokens. The good news is there is no limit to the balance that can earn interest. However, withdrawals may be influenced by Gemini’s regulation. In addition, if the amount to be withdrawn is very small, it may take longer before it is reflected in your account.
Investors can withdraw their interest from staking basic attention tokens at the start of each month. One of the benefits of BlockFi is that you can select the interest payment flex, which allows you to indicate your preferred cryptocurrency for receiving your interests.
A tiered interest structure determines the interest rate for the basic attention token on BlockFi. However, the interest may vary, which may affect the token’s market value. A tier 1 account usually contains between 0-25000 basic attention tokens. The interest rate for the token is about 3.65%. However, a tier 2 account with more than 25,000 BAT has interest rates of about 1.4%. You can get started on BlockFi here.
Pros
- Investors can earn up to 8.6% annual profits on staking basic attention tokens
- BlockFi has the backing of reputable financial institutions like Fidelity
- You can trade basic attention tokens directly from the website
- No hidden or monthly fees are associated with staking the basic attention token
Cons
- Interest account APY and loan rates can change weekly
- The withdrawal fee is based on the type of cryptocurrency
2. Nexo
Nexo is a platform that is easy to use by both beginners and professional crypto investors. Over 30 cryptocurrencies are available on this platform. Investors have a high chance of getting a Nexo token as a reward when using the Nexo card.
Unlike most crypto platforms, Nexo is the one-stop for all your crypto investments. You can stake your basic attention token on Nexo and be sure to earn good interest. In addition, you can buy, sell, or swap cryptocurrency on Nexo. Furthermore, users can earn a 0.5% cashback on a swap, but this discount depends on your loyalty tier. You can get started on Nexo here.
Pros
- Nexo is one of the most secured crypto platforms
- There are no hidden fees
- No charges on withdrawal or deposit on Nexo
- Investors can get about 16% annual percentage yield
Cons
- Not available worldwide
- Nexo requires strict verification before you can use any of the services
3. Crypto.com
Crypto.com is the place for all activities involving cryptocurrency. The beauty of buying the basic attention token is that you diversify to optimize their experience by using other blockchains.
There are more than 150 crypto assets on crypto.com. In addition, numerous benefits and cash-back rewards exist for investors who use this platform. Users who pay with their cards get the platform’s token (CRO ) as a reward.
This platform is one of the easiest to stake your basic attention token and get quality profit. Crypto.com uses a nine-tier system such that fees charged on each transaction are calculated based on the accounts traded volume. In addition, crypto.com has a standard deposit fee of about 2.99% to 3.99% for credit cards. However, they offer various deposit methods for their investors. You can get started on Crypto.com here.
Pros
- The transaction fee is adjustable after about 30 days of trading
- Various blockchain products are available
- You can get a high cashback of about 8%
Cons
- You can only get the reward in the platform’s token
- Only high-level card holders can achieve the 8% cash back reward
4. Uphold
Uphold was founded in 2013 and launched in 2015. This cryptocurrency exchange boasts over 1.7 million customers worldwide and approximately $6 billion in transactions. It is ideal for both businesses and retail investors. Uphold leverages innovative blockchain technologies to make the crypto experience easier and smoother for every user. It serves more than 184 countries. However, it’s presently not available in a few countries.
The staking features on Uphold work with cryptocurrencies that use proof-of-stake — like BAT. With Uphold, you can earn up to 19.5% Annual Percentage Yield (APY) on your staked BAT. All you have to do is download the app, stake your tokens, and enjoy your rewards. You can get started on Uphold here.
Pros
- Easy to use
- Reliable
- Protects against the uptime-related slashing risk
- Monitors your staked assets 24/7 to prevent downtime-related slashing
- Gives you a fair shot at unstaking your assets upon request, thanks to its flexible staking feature
Cons
- Some users have complained about hidden fees.
- Limited customer service
5. Binance US
Binance US is easily the biggest interface that caters to newbies and veteran investors. It is a highly diverse platform that offers financial products such as futures, derivates, and margin trading. In addition, it is one of the most used platforms because it has advanced features to get the best from staking basic attention tokens.
Binance is ranked the number one exchange by daily trading volume. In addition, not all the products available on Binance are available worldwide. However, Binance tries to act in accordance with laws in different countries. Credit and debit deposits are available on this platform with varying transaction fees. One risk associated with using Binance is that there are no proper regulations in every jurisdiction. You can get started on Binance US here.
Pros
- Investors can deposit and withdraw crypto via numerous blockchains
- Global exchange platforms
- It has advanced trading features to stake Basic Attention Token
Cons
- The lack of universal regulation is the major drawback of using Binance
Benefits of Staking BAT
- Staking your tokens will generate interest for you. Suppose you have other cryptocurrencies. You can cash out in from various plans
- Reinvesting your interest from the token can increase your future daily returns
- Staking cryptocurrencies allows you to hedge against the risk of the volatile market
- You can earn massive interests by staking tokens which the wallet security will safeguard
Final Thoughts
This article has covered the basics of staking the basic attention token. We have also listed the best platforms to stake, with their pros and cons. Before diving into any cryptocurrency investment, you must do proper research, especially if you are new to it.
Two major risks are associated with staking basic attention tokens. The first is the risk associated with the platform you choose to invest with. Therefore, it is important to choose a reputable platform. Another risk associated is the market value. Contrary to popular misconceptions, staking does not guarantee a massive income. Therefore, it is best to diversify your crypto portfolio to optimize your income.
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