Moonriver is a companion network to Moonbeam and provides a so-called ‘canary network’ - a network used for testing new blockchains or new versions of blockchains. New code ships to Moonriver first, where it can be tested and verified under real economic conditions. Once proven, the same code ships to Moonbeam on Polkadot. As a decentralized smart contract platform, Moonriver requires the MOVR token to function.
Some of the uses of the MOVR token on Moonriver include:
- Supporting the gas metering of smart contract execution
- Incentivizing collators and powering the mechanics around the creation of a decentralized node infrastructure on which the platform can run
- Facilitating the on-chain governance mechanism
- Paying for transaction fees on the network
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 Moonriver. 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 Moonriver and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Moonriver without any technical knowledge. Here is a brief overview of the existing wallet options to store your Moonriver:
Hosted wallets are wallets where the private keys to your Moonriver 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 Moonriver 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 Moonriver. 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 Moonriver, and if malicious parties have access to your device, your private keys (and therefore your Moonriver) can be stolen.
A hardware wallet is a physical device on which you can store your Moonriver offline. It is one of the safest ways to store your Moonriver, 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 Moonriver is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Moonriver. Once you have purchased Moonriver on Bitvavo, you can choose to send your Moonriver from your Bitvavo wallet to your own software or hardware wallet.