Frax Shares (FXS) is the governance token of the Frax Protocol. The Frax Protocol is considered to be the first fractional-algorithmic stablecoin system at the time of its launch in November 2020. Frax introduces the concept of a cryptocurrency being partially backed by collateral and partially stabilised algorithmically. Frax is an entirely decentralized protocol with governance on-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 Frax Share. 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 Frax Share and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Frax Share without any technical knowledge. Here is a brief overview of the existing wallet options to store your Frax Share:
Hosted wallets are wallets where the private keys to your Frax Share 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 Frax Share 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 Frax Share. 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 Frax Share, and if malicious parties have access to your device, your private keys (and therefore your Frax Share) can be stolen.
A hardware wallet is a physical device on which you can store your Frax Share offline. It is one of the safest ways to store your Frax Share, 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 Frax Share is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Frax Share. Once you have purchased Frax Share on Bitvavo, you can choose to send your Frax Share from your Bitvavo wallet to your own software or hardware wallet.