Bitvavo makes EOS as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
EOS (EOS) is a blockchain platform that is suitable for the development of decentralized applications (DApps) and aims to create the world's most suitable platform for DApps. The blockchain platform is comprehensive, such as accounts, user authentication, cloud storage, asynchronous communication and server hosting, with the aim of becoming a "one-stop-shop" for DApp developers. In addition, the blockchain architecture is designed so that it can scale both horizontally and vertically. As a result, it should be able to process millions of transactions per second and there are no costs associated with the use of the EOS blockchain.
EOS offers a complete platform, including accounts, user authentication, cloud storage, asynchronous communication and server hosting, which is suitable for the development of decentralized applications. The EOS blockchain uses the Proof-of-Stake (PoS) mechanism to ensure that as many users as possible can use the platform and the DApps. Due to the Proof-of-Stake mechanism, a new block is produced every 3 seconds.
For example, EOS can be compared to Apple. While Apple makes sure that iTunes is entirely suitable for app developers to build iOS apps, EOS wants to ensure that the EOS blockchain is entirely suitable for developers to build decentralized apps. The Steemit social network is such an example of a successful decentralized application built on the blockchain.
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 EOS. 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 EOS and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store EOS without any technical knowledge. Here is a brief overview of the existing wallet options to store your EOS:
Hosted wallets are wallets where the private keys to your EOS 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 EOS 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 EOS. 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 EOS, and if malicious parties have access to your device, your private keys (and therefore your EOS) can be stolen.
A hardware wallet is a physical device on which you can store your EOS offline. It is one of the safest ways to store your EOS, 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 EOS is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive EOS. Once you have purchased EOS on Bitvavo, you can choose to send your EOS from your Bitvavo wallet to your own software or hardware wallet.