Bitvavo makes Immutable X as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
What is Immutable X?
Immutable X (IMX) is a layer-2 scaling solution for NFTs on Ethereum. It is an open-source ZK Rollup protocol built with the vision of facilitating a gas-free NFT ecosystem that allows users to build and develop their own decentralized apps, such as games and marketplaces. Users can easily create and trade NFTs without compromising the security of their assets.
How does Immutable X work?
When you mint or trade an NFT on Immutable X, you pay zero gas, and the validity of all transactions are directly enforced by Ethereum’s security using zero-knowledge proofs — the first “layer 2” for NFTs on Ethereum. Immutable X allows users to choose between two Validium and ZK-rollups via a system known as “Volition”.
How to buy Immutable X?
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 Immutable X. 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.
How to store Immutable X?
Storing Immutable X and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Immutable X without any technical knowledge. Here is a brief overview of the existing wallet options to store your Immutable X:
Hosted wallets are wallets where the private keys to your Immutable X 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 Immutable X 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 Immutable X. 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 Immutable X, and if malicious parties have access to your device, your private keys (and therefore your Immutable X) can be stolen.
A hardware wallet is a physical device on which you can store your Immutable X offline. It is one of the safest ways to store your Immutable X, 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 Immutable X is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Immutable X. Once you have purchased Immutable X on Bitvavo, you can choose to send your Immutable X from your Bitvavo wallet to your own software or hardware wallet.
Direct Euro Transfers
Buying digital assets with Euros has never been easier. Bitvavo supports 8 payment methods, including SEPA for instant transfers.