Bitvavo makes Lisk as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
Lisk (LSK) is an open-source decentralized platform on which third parties can easily build their own decentralized application on their own "side-chain". With a side-chain is meant a stand-alone blockchain that can be set up entirely according to one's own insight but is linked to the Lisk blockchain. This side-chain can be used by programmers to build decentralized applications such as applications focused on social networks, games and the exchange of values.
If transactions take place on the Lisk blockchain or on one of the side chains, a small transaction fee is required. This reimbursement often has to be paid in Lisk.
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 Lisk. 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 Lisk and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Lisk without any technical knowledge. Here is a brief overview of the existing wallet options to store your Lisk:
Hosted wallets are wallets where the private keys to your Lisk 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 Lisk 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 Lisk. 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 Lisk, and if malicious parties have access to your device, your private keys (and therefore your Lisk) can be stolen.
A hardware wallet is a physical device on which you can store your Lisk offline. It is one of the safest ways to store your Lisk, 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 Lisk is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Lisk. Once you have purchased Lisk on Bitvavo, you can choose to send your Lisk from your Bitvavo wallet to your own software or hardware wallet.