What Is The Brave Browser And Can You Make Money With BAT Tokens?

What is Brave Browser and what BAT tokens? And can you make money with them?
Courtesy of Brave.

 

What Is The Brave Browser?

Brave is a free and open-source web browser based on the Chromium platform. Developed by Google, Chromium is a browser project that serves as a basis for a number of other browsers – most notably, Microsoft Edge and Google Chrome.

As a web browser built on Chromium, Brave has a user interface that’s similar to that of Google Chrome. Brave is compatible with Chrome extensions as well, potentially allowing users to seamlessly switch from one browser to the other. Bookmarks and settings may be imported from other browsers as well.

Compared to other browsers, Brave is advertised to have the following advantages:

  • 3x to 6x faster loading speeds than Chrome and Mozilla Firefox.
  • Content creator support via Brave Rewards.
  • Ad-free experience, unless the user chooses to opt in to Brave Rewards or enable website ads.
  • Blocking of trackers present on websites.
  • Private browsing.

Brave disables ads and tracking by default, claiming a safer and more private user experience. The number of blocked ads and trackers may be seen when the user opens a new tab.

Performance stats of the ad & tracker blocker.

 

Basic Attention Token – The Basis Of Brave’s Monetization System

Brave browser’s monetization system is built on BAT, or Basic Attention Token. BAT is a utility token based on the Ethereum blockchain.

Gemini – a digital currency exchange – defines utility tokens as follows:

 

A utility token is a tokenized digital asset designed to grant its holder access to the products or services of a blockchain protocol. As a result, utility tokens are intended to be used within the blockchain’s network, rather than serve as an investment. However, given that most utility tokens fluctuate in value in accordance with its network’s perceived popularity and adoption, many traders and crypto enthusiasts nonetheless purchase certain utility tokens as speculative investments.

 

Blockchain is defined as follows:

 

A blockchain is a public ledger of transactions that is maintained and verified by a decentralized, peer-to-peer network of computers that adhere to a consensus mechanism to confirm data. Each computer in a blockchain network maintains its own copy of the shared record, making it nearly impossible for a single computer to alter any past transactions or for malicious actors to overwhelm the network. Sufficiently decentralized blockchains do not rely on centralized authorities or intermediaries to transact globally, securely, verifiably, and quickly, making technology like cryptocurrency possible.

 

BATs are quite distinct from digital currencies like Bitcoin. From the BAT website:

 

BAT is not a digital currency, it is a utility token. It can be used as a unit of account between advertisers, publishers, and users on the BAT platform, and can be utilized to directly measure, exchange, and verify attention. Bitcoin would not enable this distinct, in-platform problem solving. Also, an integral part of the token sale was the creation of the BAT user growth pool (UGP) of 300 million tokens, which will be used to incentivize users to join the BAT platform. Finally, using BAT on Ethereum allows for faster scalability than using Bitcoin.

 

According to the Brave FAQ page, BATs do not represent or confer any ownership right or stake, share or security or equivalent rights, or any right to receive future revenue shares, intellectual property rights or any other form of participation in or relating to the BAT platform, and/or Brave and its affiliates.”

Instead, ownership of the tokens providers holders with the right to use them to obtain services on the BAT platform. BATs may also be withdrawn through Uphold. Then, users may convert BATs into another cryptocurrency or withdraw funds to a crypto network or their bank accounts.

 

Can You Make Money With Brave Browser? How To Make Money With BAT Tokens

The Brave platform allows both users and content creators to earn Basic Attention Tokens. Whether you are a user who desires a more private browser experience or a publisher looking to diversify your income streams, an understanding of how BAT is generated and distributed between parties may be beneficial.

At a high level, Brave’s monetization system works this way:

  1. Brands advertise through Brave.
  2. Brave users who have opted in to Brave Rewards receive BATs when viewing ads. 70% of the ad revenue is given to users, while the rest goes to developers. This model is called pay to surf (PTS).
  3. Brave users may then use the earned tokens to support content publishers and content creators.

Below is a more in-depth overview of how BATs can be earned by users and creators.

 

How users can make BATs on Brave

To be able to earn BATs on Brave, users need to enable Brave Rewards in their Brave web browser. When Brave Rewards is enabled, two functions are turned on by default:

Brave Rewards settings page.

 

  • Ads. This turns on Brave Ads and allows users to earn tokens by viewing them. Brave Ads aren’t the same as online ads visible on websites – these remain blocked unless the user chooses to enable them.
  • Auto-Contribute. Auto-Contribute allows users to set a fixed monthly payment that will be distributed between publishers and content creators they have visited.

With Ads enabled, Brave will start automatically delivering digital ads and counting the attention you spend on the sites you visit.

Brave claims that Brave Ads do not collect personal data about users. Rather, they match your browsing preferences with available ads on the device.

Users may turn Ads off completely or choose the frequency with which they appear.

Brave Ads settings.

 

Brave delivers ads in two forms – push notifications and sponsored images. Push notifications appear on macOS, Windows, Linux, and Android, while sponsored images are featured in new tabs.

How push notification ads look on Windows.
Push notifications on Windows. Courtesy of Brave.

 

An example of a Sponsored Image.
An example of a Sponsored Image.

 

Push notifications used to be available on iOS, but on December 10, 2020, this function was removed from iPhones and iPads because Apple’s 3.1.1 guideline doesn’t allow payments via channels other than Apple in-app purchases. Additionally, guideline 3.2.2 prohibits “tasks for cash”.

When viewing ads, users receive 70% of Brave’s ad revenue in the form of Basic Attention Tokens. BATs are deposited to users’ Brave wallets once a month. After receiving tokens – if Auto-Contribute is enabled – BATs are tipped to websites the user has visited.

BATs are distributed between creators based on the relative amount of attention (i.e. time) the user has spent on each website. The distribution of attention may be viewed on the Brave Rewards page.

 

Users may choose to exclude websites they don’t want to support.

Alternatively, users can withdraw BATs to Uphold, but Uphold requires identity verification.

Originally, when Brave rolled out Brave Rewards in 2019, users could not withdraw BATs – they could only use them to tip content creators. In summer 2019, however, Brave added withdrawal functionality.

 

How creators can make BATs on Brave

To start making money with Brave, content creators and publishers need to first sign up as a Creator. Creators will not receive any BATs sent to them by users until they become verified.

If a user sends tokens to an unverified content creator, the funds will be held in reserve inside the user’s browser for 90 days. If the creator remains unverified, the contributions will go back to the user’s wallet.

Verified creators receive contributions automatically.

Here’s how Brave users may choose to support publishers and content creators:

Tip some or all of their ad earnings, as described above.

Screenshot of Auto- contribute

 

Tip Twitter users, Twitch and YouTube streamers, and site owners directly. To do this, users need to click the triangular Brave Rewards button, click Send Tip, and select the desired amount. Here’s an example with entrepreneur Anthony Pompliano’s Twitter account.

Direct tipping popup.

 

Selection popup for tips.

 

Contribute to creators on a monthly basis.

Selection popup for monthly contributions.

 

To support creators, users may either use their ad earnings or deposit funds in their wallet. To be able to deposit funds, users will need to verify their wallet with Uphold.

Note that Brave takes 5% of users’ contributions.

 

How Much Can One Make With The BAT Cryptocurrency?

BAT coin revenue estimates can be found online, but it may be difficult for creators and users to approximate how much they will be able to make with the Brave app.

The revenue potential for creators appears to be heavily tied to the size of their audiences. The BAT to USD exchange rate is volatile as well, which may impact the payouts received by users and creators over time.

When the reward program was introduced, Brave estimated that users would be able to earn $60 to $70 per year and possibly around $224 in 2020 by viewing ads.

In July 2019, one CNET author wrote that they had made 84 BAT with Brave ads, or about $20 at the exchange rate back then.

It appears that ad earnings can vary dramatically, however. A Reddit user shared in April 2020 that they had earned 23.9 BAT ($4.23 at the time) by viewing 412 ads.

As far as creators are concerned, non-profit organization freeCodeCamp.org made nearly $2,000 over 18 months from people visiting its website with the Brave browser. Another content creator wrote in December 2019 on Reddit that they had earned 1,420 BAT ($267.51) in a month.

 

Conclusion

For more information about the Brave browser and its rewards program, consult the following resources:

 

 

 

 

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