Soak the sliced onion in a small bowl of water and 1-2 tablespoons vinegar. Set aside. (This is especially helpful for people who cannot tolerate raw onion well-like me)
Prepare in another larger bowl a mixture of 1 part vinegar and 4 parts water. Soak the bread for a few minutes and then place in colander. Squeeze out the water carefully. Place the bread in large bowl.
Add the tomato, the onion (remove from water first), cucumber and basil. Add 1 tablespoon of olive oil and salt and pepper to taste and mix carefully.