Bitvavo makes Near Protocol 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 Near Protocol?
NEAR is a decentralized development platform for dapps designed to overcome some of the limitations of competing systems such as Ethereum — including low throughput, low speeds, and poor cross-compatibility.
It operates on top of the NEAR Protocol, a proof-of-stake (POS) blockchain that incorporates a number of innovations to boost scalability and reduce costs for developers and end-users. Its innovations include a unique take on sharding and a new consensus mechanism known as 'Doomslug'.
The NEAR token is used for incentivizing nodes on the NEAR network and is used for powering transactions and NEAR smart contracts.
How to buy Near Protocol?
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 Near Protocol. 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 Near Protocol?
Storing Near Protocol and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Near Protocol without any technical knowledge. Here is a brief overview of the existing wallet options to store your Near Protocol:
Hosted wallets are wallets where the private keys to your Near Protocol 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 Near Protocol 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 Near Protocol. 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 Near Protocol, and if malicious parties have access to your device, your private keys (and therefore your Near Protocol) can be stolen.
A hardware wallet is a physical device on which you can store your Near Protocol offline. It is one of the safest ways to store your Near Protocol, 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 Near Protocol is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Near Protocol. Once you have purchased Near Protocol on Bitvavo, you can choose to send your Near Protocol 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.