Numeraire is an ERC20 Ethereum token. All issued Numeraire are sent to Numerai, the hedge fund behind NMR. By performing well in Numerai’s machine learning competition to predict stock market performance, data scientists will earn Numeraire on an ongoing basis. When data scientists are confident of the predictions they have made, they send Numeraire to the Numeraire Ethereum smart contract. Those data scientists whose predictions performed well earn dollars based on the auction mechanism, and their Numeraire are returned. Those data scientists whose predictions did not perform well on new data risk having their Numeraire destroyed.
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 Numeraire. 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 Numeraire and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Numeraire without any technical knowledge. Here is a brief overview of the existing wallet options to store your Numeraire:
Hosted Wallet
Hosted wallets are wallets where the private keys to your Numeraire 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 Numeraire 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 Numeraire. 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 Numeraire, and if malicious parties have access to your device, your private keys (and therefore your Numeraire) can be stolen.
Hardware wallet
A hardware wallet is a physical device on which you can store your Numeraire offline. It is one of the safest ways to store your Numeraire, 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 Numeraire is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Numeraire. Once you have purchased Numeraire on Bitvavo, you can choose to send your Numeraire from your Bitvavo wallet to your own software or hardware wallet.
