ICON (ICX) is a decentralized blockchain platform from 2016 with the vision to connect all blockchains together in one large ecosystem. In this way ICON wants to solve the problem that the blockchains of different digital currencies cannot communicate with each other. At this moment the ICON has already succeeded in connecting different blockchains to each other, such as the blockchains from Bitcoin and Ethereum. ICON intends to add more blockchains in the future, so that fewer and fewer third parties will have to be involved and many processes can be automated.
ICON is a kind of blockchain that links various other blockchains together. Different types of smart contracts are used to achieve this. This application has the advantage that information on one blockchain can be shared with users of another blockchain.
Suppose a patient goes to a hospital. This hospital only wants to help the patient after it has been established that the patient is insured with a health insurer. If the hospital and the health care provider did not use the same blockchain, it would not be possible for the information from the health care provider to be shared with the hospital. However, ICON technology makes this possible. As a result, parties can even choose the type of blockchain on which they want to store information and it is also possible that this information can still be shared with third parties that use other blockchains.
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 ICON. 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 ICON and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store ICON without any technical knowledge. Here is a brief overview of the existing wallet options to store your ICON:
Hosted Wallet
Hosted wallets are wallets where the private keys to your ICON 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 ICON online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
Software wallet
A software wallet is a program installed on your computer or other device in order to use and manage your ICON. 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 ICON, and if malicious parties have access to your device, your private keys (and therefore your ICON) can be stolen.
Hardware wallet
A hardware wallet is a physical device on which you can store your ICON offline. It is one of the safest ways to store your ICON, 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 ICON is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive ICON. Once you have purchased ICON on Bitvavo, you can choose to send your ICON from your Bitvavo wallet to your own software or hardware wallet.
