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Frequently Asked Questions
Bitvavo makes Ocean 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 Ocean Protocol?
Ocean is an open source protocol built on the Ethereum blockchain that enables users to exchange and monetize datasets and data services. The protocol uses datatokens to access data services, which can be bought with OCEAN. The protocol's token also allows holders to participate in governance and to stake OCEAN on the Ocean market.
How to buy Ocean 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 Ocean 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 Ocean Protocol?
Storing Ocean Protocol and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Ocean Protocol without any technical knowledge. Here is a brief overview of the existing wallet options to store your Ocean Protocol:
Hosted wallets are wallets where the private keys to your Ocean 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 Ocean 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 Ocean 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 Ocean Protocol, and if malicious parties have access to your device, your private keys (and therefore your Ocean Protocol) can be stolen.
A hardware wallet is a physical device on which you can store your Ocean Protocol offline. It is one of the safest ways to store your Ocean 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 Ocean Protocol is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Ocean Protocol. Once you have purchased Ocean Protocol on Bitvavo, you can choose to send your Ocean 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.