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Frequently Asked Questions
Bitvavo makes Bitcoin SV as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
What is Bitcoin SV?
Bitcoin SV (BSV), or Bitcoin Satoshi Vision, is a hard fork of Bitcoin Cash. The hard fork took place on November 15, 2018. Bitcoin SV refers to the original idea behind Bitcoin. The maker of Bitcoin, Satoshi Nakamoto, had a vision for a globally decentralized electronic payment system based on the revolutionary blockchain technology. The founders of Bitcoin SV, Craig Wright and Calvin Ayre, believed that Bitcoin Cash (BCH) was also alienated with regard to the original vision of what Bitcoin should have been and therefore decided to start Bitcoin SV.
How does Bitcoin SV work?
With Bitcoin SV you can receive and send values. The transactions performed are recorded in the blockchain. The blockchain is an online decentralized payment network that can be compared to a public transaction log. All Bitcoin SV transactions that are carried out can be found here. The transactions are processed in transaction blocks, which are comparable to payment batches, and are recorded in the blockchain.
This payment network is maintained by miners. The computing power of a computer (also known as miner) is used to process transactions and to secure the network. As compensation for the processing of transactions and for securing the network, miners receive Bitcoin SV.
How to buy Bitcoin SV?
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 Bitcoin SV. 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.
How to store Bitcoin SV?
Storing Bitcoin SV and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Bitcoin SV without any technical knowledge. Here is a brief overview of the existing wallet options to store your Bitcoin SV:
Hosted wallets are wallets where the private keys to your Bitcoin SV 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 Bitcoin SV 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 Bitcoin SV. 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 Bitcoin SV, and if malicious parties have access to your device, your private keys (and therefore your Bitcoin SV) can be stolen.
A hardware wallet is a physical device on which you can store your Bitcoin SV offline. It is one of the safest ways to store your Bitcoin SV, 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 Bitcoin SV is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Bitcoin SV. Once you have purchased Bitcoin SV on Bitvavo, you can choose to send your Bitcoin SV from your Bitvavo wallet to your own software or hardware wallet.
Direct Euro Transfers
Buying digital assets with Euros has never been easier. Bitvavo supports 8 payment methods, including SEPA for instant transfers.