In order withdraw the BAT (Basic Attention Token) you earned from Brave browser, you will need to verify your identity. This is because of something known as Know Your Customer (KYC) regulations that help the government track money. It’s something that is frowned upon by crypto enthusiasts who value privacy, but is necessary for companies to be in good terms with particularly the US government.
How to enable BAT withdrawals through Brave
So, if you want to withdraw your BAT and allow it to be exchanged for cash, you will have to start at the “Brave Rewards” screen.
- On the top right of side of the browser, there is a menu tab. Click it and then click “Brave Rewards.”
- Next to your BAT total, there is a button that says “Verify Wallet,” click that.
- Afterwards, it will take you to uphold.com where you enter personal information
- Enter your address, phone number, etc. then it will ask you to scan a QR code on your phone
- Open your phone’s camera and point it at the QR code
- Make sure to either have a passport, ID card or Drivers License, then take a picture of it and upload it to uphold.com
The Verification process usually takes 24 hours during business days, but it could take longer than that.
How to turn BAT into cash
Uphold allows users to connect bank accounts as well as crypto wallets, so on their website all you will need to click is “send to bank account.” Ofcourse, you will have to set up your bank account which requires a routing number, account number and more verification time.
Once you select how much BAT you would like to send to the bank account, simply confirm the transaction. Before it is officially deposited, you will be charged an exchange fee of around 2%, and you will have to wait for your bank to accept the transaction, which can take up to 24 hours.