Bitvavo makes Holo as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
Holochain (HOT) strives to become the replacement for the blockchain. In Holochain's view, this is necessary now that many projects that use blockchain technology face scalability problems. To resolve this, Holochain uses a different kind of consensus mechanism, which is needed to process transactions. Holochain strives to offer a platform on which decentralized applications can be built. In addition, it is possible that everyone spends their "own" (Holo) chain.
Holochain has designed an alternative consensus mechanism whereby it is no longer necessary for the entire transaction history to be stored in many different decentralized locations. Instead, one central log is kept which is provided with new information by several decentralized logs, all of which keep a record of the transaction history. In this way it should be possible for the Holochain to be able to scale up indefinitely and so that the platform should be suitable for building decentralized applications and for issuing "own" (Holo) chains. Costs are charged in HOT for using the platform to publish decentralized applications or (Holo) chains.
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 Holo. 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 Holo and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Holo without any technical knowledge. Here is a brief overview of the existing wallet options to store your Holo:
Hosted wallets are wallets where the private keys to your Holo 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 Holo 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 Holo. 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 Holo, and if malicious parties have access to your device, your private keys (and therefore your Holo) can be stolen.
A hardware wallet is a physical device on which you can store your Holo offline. It is one of the safest ways to store your Holo, 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 Holo is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Holo. Once you have purchased Holo on Bitvavo, you can choose to send your Holo from your Bitvavo wallet to your own software or hardware wallet.