Pays for the entire month around the 8th of the month. If you look at Brave Rewards, it shows you how many ads you’ve seen for the month and your estimated payout. Like for February it is showing February 1-28 with the next Payout Date as March 7.
Thing to keep in mind though is that’s when Brave BEGINS the payout process, so it doesn’t mean that’s when you’ll actually receive the BAT.
Uphold and Gemini, though if you’re on Android then Uphold is the only option for now. They are working on adding Gemini as an option here soon. Also in Japan they have Bitflyer for desktop and currently are expanding it to mobile devices. There’s been discussion of having Bitflyer or other options here in the United States or other regions, but nobody knows when or if that will happen.
This is something of a trick question. Short version is Brave Rewards actually pays out in what is called vBAT which is only usable on Brave. The only current use for it is to tip creators, though they are looking to implement things like Pay With BAT where content creators can give special privileges or accept subscriptions using BAT from the Brave browser.
The token we all tend to think of, the literal Basic Attention Token, is provided when vBAT get sent over to Uphold and Gemini. You can think of this as customer rewards points being traded in for cash. Once this happens, it is absolutely necessary to have KYC/AML according to government regulations. This is why Brave is keeping Brave Rewards and Brave Wallet separated, as they don’t want to force KYC/AML from everyone AND they don’t want to have to worry about the special licenses and other things governments would require.
If talking Brave Wallet and not your Brave Rewards wallet, the answer is yes. In order to do this, you will need to have ETH in your Brave Wallet. The only way for that to happen would be to buy it through Wyre or to send it to your Brave Wallet from elsewhere, as Brave Wallet does not serve as an exchange where you can buy or sell cryptocurrency directly.
Not sure of your meaning here. Brave Wallet is only a self-custody wallet. It is not an exchange. You can send, receive, and store cryptocurrency. Purchases right now are done through Wyre and have multiple fees associated through both Brave Wallet as well as Wyre. When you go to buy from Wyre, where you can put in the $ value and it then shows the crypto value for that particular coin/token.
In addition, you can view the pricing history for each type of currency as well. Such as you can see the screenshot below. This isn’t tracked by Brave. On the bottom of the page, which you can’t see since the screenshot is cropped, is a notice that says Price data powered by CoinGecko
Again, a trick question. BAT that you buy from an exchange OR that you send from an outside wallet, such as Uphold or Gemini, can be stored and exchanged in your Brave Wallet. However, YOU CAN NOT have BAT from Brave Rewards appear directly into your Brave Wallet. Most likely you wouldn’t transfer it from an outside source into Brave Wallet either, as the fees are ridiculous and you’d be throwing away a lot of money.
That said, you CAN convert cryptocurrency from within Brave Wallet, if you have any stored. Again though, you’ll face fees in the process. Brave has a 0.875% Brave fee on exchanges, plus I’m not sure what else they throw in there.
To buy, Wyre tends to charge a base $5 Transaction Fee, but this can increase depending on how much you’re buying.
Network Fee varies. I just put in to pretend I was going to buy BAT and it was charging a $12.47 Network Fee.
Those two combined, IF I wanted to buy $10 in BAT, I would have to pay $27.49 (price changes drastically, mainly due to gas fees)
As to fees for sending, Brave was working on getting Brave Wallet to be more reliable and transparent on that. Overall there’s a lot of math that users need to do. Before you ever step foot into buying/trading/selling cryptocurrency, I highly suggest you spend a LOT of time researching.
The reason I say that is if you want to send anything via Ethereum, you have to use ETH to pay gas fees. Those gas fees are what it costs to get miners to transport the currency for you along the network. You’ll need to learn a lot about ETH, GWEI, etc.
That said, BAT is going to remain on ERC20 I do believe. You’d have to reach out to Brave more directly, such as trying to post under #support-and-troubleshooting:wallet and tagging Brian to see if he can better answer.
The purpose for this post is for Suggested Proposal for Restructuring of Community Title Categorizations for ease of search.
Thank you! Saoiray did a great job in answering all FAQs.
To be honest, I see Brave Rewards(BAT) as a new emerging crytocurrency. I prefer calling it BRAT - Brave Attention Token, a daring crypto and only one I think will be powerful if being designed and developed in the ideal way I expected below:
BRAT can be seamless crypto(like ad-sense using fiat) for tipping/rewarding watching ads, products & services and even for great ideas. Also powerfully, it can be used for advertising straight like ad-words.
=> this idea is totally mind-blowing
vBAT => BAT(real BAT to trade for crypto and fiat)
It will be great if people have the list on what vBAT and BAT can be used on. It looks to me like the special chips in casino, those chips can only be played on table but can’t exchanged for cash.
I have been researching on crypto, it looks to me as similarities below:
banks = crypto platforms
networks = fees charging protocols/financial fee
cryptocurrencies = different country currencies
if there is so much fee charging and also KYC involved, why created another wheel?
Indeed, it gets complicated. I’m not sure how familiar you are with cryptocurrency, but it’s very intriguing to see the differences between utility tokens, security tokens, and coins. Even then, to see how people are really having the big discussion of whether they want to pursue traditional coins like Bitcoin or if they prefer a blend between new & traditional by using something like Stablecoin.
As to another wheel, it’s not necessarily that. If you think about credit cards, for example. You have the various networks and have to decide which to do. Though your card might say Visa, it might actually be one of thousands of banks offering you the card. Each bank has different annual fees, card limits, and interest rates. This is kind of what you’re seeing with cryptocurrency, as they are building things like BAT on top of existing chains.
As to KYC and all, keep in mind that it wasn’t required when things started. Government have been watching for the like 5-10 years and saw the huge amounts of money exchanging hands. As you may well know, governments are greedy as heck. So they made laws forcing any business handling cryptocurrency to have to verify identities and report it to the government, that way the government can try to get taxes from people. Prior to that, this was money changing hands with no taxes or oversight. And just to add the extra layer, they made sure to address it by saying AML, which was that it had to be done to prevent money laundering and the funding of terrorists.
As to fees, that’s just life. Everything has resources. You can think of it like we’re in the end of the gold rush. All your coins and all are like wagons full of gold. If you want to bring it anywhere, you need people to mine it and safely transport it to you. You’ll also need exchanges that can accept that gold and convert it to the currency you want. There’s a lot of labor and time involved.
mhm… I will not agree with the analogy of credit card. I will be more inclined to see the analogy as different country fiat currencies. The conversion rate is diff in diff banks. The price will go up and down. In some places, accept this but not the other.
If gov and centralized systems are stepping into too much of it, crypto will lose its beauty.
The origin of crypto is that people had enough of current financial system is controlling everything. Banks and centralized systems are making too much money from civilians, diluting what they deserve more.
The beauty of crypto is that it is more seamless, less diluted your money, more free market, more versatile that you can use in any places.