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Frequently Asked Questions
Bitvavo makes Power Ledger 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 Power Ledger?
Power Ledger (POWR) is a decentralized trading platform that, with the help of blockchain technology, wants to enable consumers who generate energy to sell their surplus energy to other consumers. At present, consumers who generate energy can return their surplus energy to their energy supplier, but it is not yet possible to supply it directly to other consumers. As a result, a large part of the revenues lag behind the energy suppliers. In addition, it is less clear to consumers where which electricity comes from and how it is generated. Power Ledger wishes to change this and strives to provide the whole world with cheap, reliable and sustainable energy.
How does Power Ledger work?
Power Ledger has built a decentralized platform on which it is possible to trade peer-to-peer electricity. Now that it is no longer necessary for a party to be involved, it is possible that the supplier of the energy receives a higher reimbursement than normal while the receiver pays a lower price than usual. This should make it more attractive to generate and use sustainable energy. In addition to the decentralized platform, Power Ledger is also working on developing tools that provide insight into the use of electricity.
To be able to use the services of Power Ledger, you need to have Power Ledger Token. In addition, the Power Ledger Token can be used to exchange for Sparks, which is the currency with which all purchases and sales of electricity are settled on the Power Ledger platform.
How to buy Power Ledger?
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 Power Ledger. 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 Power Ledger?
Storing Power Ledger and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Power Ledger without any technical knowledge. Here is a brief overview of the existing wallet options to store your Power Ledger:
Hosted wallets are wallets where the private keys to your Power Ledger 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 Power Ledger 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 Power Ledger. 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 Power Ledger, and if malicious parties have access to your device, your private keys (and therefore your Power Ledger) can be stolen.
A hardware wallet is a physical device on which you can store your Power Ledger offline. It is one of the safest ways to store your Power Ledger, 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 Power Ledger is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Power Ledger. Once you have purchased Power Ledger on Bitvavo, you can choose to send your Power Ledger 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.