Bitvavo makes Aelf as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
Aelf (ELF) describes itself as an operating system for the blockchain. Where you have Android for phones or Linux for computers, Aelf wants to become an operating system for the blockchain. This is required now that the current operating systems often do not yet support decentralized applications, which creates a larger threshold for creating and using centralized applications. Aelf wants to change this with the launch of its own unique operating system.
Aelf has launched its own operating system, which has been specially developed for building decentralized applications on the blockchain. To ensure that this solution is sufficiently scalable, Aelf uses several sidechains in addition to its own blockchain. The use of side-chains ensures that the load on the network can be distributed and that there is not too much load on the main-chain. In addition, each of the side-chains can be set up in its own way, so that it can be adjusted even better to the specific needs of the users. Although the side-chains cannot communicate with each other directly, they can communicate with each other via the main-chain using smart contracts.
For example; You develop a decentralized application where videos can be shared by users. An application has been developed on another side chain that is similar to Twitter. Because both applications are linked to the same main-chain, it is possible that users who like a certain video can automatically share this via the Twitter application. Or vice versa, if users like a video on Twitter, it can be automatically shared in the video application.
The ELF coin belongs to the Aelf blockchain. This is required to pay the costs if the side-chains want to use the main-chain.
Bitvavo makes it as easy as possible to buy digital assets and cryptocurrencies.
1. Sign Up
Create a free account with which you can buy, sell, send, receive and store Aelf. Access your Bitvavo account from every location, on mobile and desktop.
2. Transfer Funds
Verify your account and transfer Euros to your Bitvavo wallet using one of the 8 supported payment methods.
3. Buy and Trade
Buy or sell over 150 digital assets and pay a maximum trading fee of 0.25%. Store your assets in your Bitvavo wallet or send them to your external wallet.
Storing Aelf and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Aelf without any technical knowledge. Here is a brief overview of the existing wallet options to store your Aelf:
Hosted wallets are wallets where the private keys to your Aelf are managed by a third party such as Bitvavo. Access to your account is protected by a password and other advanced security features. Once you are logged in, you can easily and conveniently manage your Aelf online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
A software wallet is a program installed on your computer or other device in order to use and manage your Aelf. Using a software wallet gives you full control over your private keys, so you are not dependent on third parties. The risk is that you alone are in charge of the security of your Aelf, and if malicious parties have access to your device, your private keys (and therefore your Aelf) can be stolen.
A hardware wallet is a physical device on which you can store your Aelf offline. It is one of the safest ways to store your Aelf, because the private keys are stored on a separate and offline device. Access to this device is often protected by a password. In many ways, a hardware wallet can be compared to a safe in which your Aelf is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Aelf. Once you have purchased Aelf on Bitvavo, you can choose to send your Aelf from your Bitvavo wallet to your own software or hardware wallet.