Bitvavo makes Golem as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
Golem (GNT) is an open source decentralized platform on which users can share computer power with each other. With this, Golem wants to offer a similar service such as Amazon, Google and Microsoft with their cloud solutions. On the platform, parties can make the computer power that they do not use, available to third parties who temporarily need extra computing power. Because all transactions can go through the Golem platform, a third party is no longer necessary, so that rates for computer power should be cheaper than with centralized parties.
On the Golem platform, parties that have equipment for which they do not need full computing power can offer it to third parties who, for example, temporarily need additional computing power to execute complex programs. The party that makes its computing power available receives compensation for this, while it is not necessary for the party that uses the additional computing power to purchase additional equipment now that it can rent it temporarily.
If transactions take place on the Golem platform in connection with the rental of computer power, transaction costs are due for this. These must be paid in GNT, which is the token associated with the Golem platform.
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 Golem. 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 Golem and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Golem without any technical knowledge. Here is a brief overview of the existing wallet options to store your Golem:
Hosted wallets are wallets where the private keys to your Golem 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 Golem 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 Golem. 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 Golem, and if malicious parties have access to your device, your private keys (and therefore your Golem) can be stolen.
A hardware wallet is a physical device on which you can store your Golem offline. It is one of the safest ways to store your Golem, 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 Golem is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Golem. Once you have purchased Golem on Bitvavo, you can choose to send your Golem from your Bitvavo wallet to your own software or hardware wallet.