Maker is the governance token of MakerDAO and the Maker Protocol. MakerDAO is an open-source project on the Ethereum blockchain and a Decentralized Autonomous Organization created in 2014. Through a system of governance involving Executive Voting and Governance Polling, MKR holders manage the Maker Protocol and the financial risks of Dai to ensure its stability, transparency, and efficiency. MKR voting weight is proportional to the amount of MKR a voter stakes in the voting contract, DSChief. In other words, the more MKR tokens locked in the contract, the greater the voter’s decision-making power.
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 Maker. 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 Maker and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Maker without any technical knowledge. Here is a brief overview of the existing wallet options to store your Maker:
Hosted Wallet
Hosted wallets are wallets where the private keys to your Maker 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 Maker 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 Maker. 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 Maker, and if malicious parties have access to your device, your private keys (and therefore your Maker) can be stolen.
Hardware wallet
A hardware wallet is a physical device on which you can store your Maker offline. It is one of the safest ways to store your Maker, 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 Maker is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Maker. Once you have purchased Maker on Bitvavo, you can choose to send your Maker from your Bitvavo wallet to your own software or hardware wallet.
