Bitvavo makes Ravencoin as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
Ravencoin (RVN) was created in 2018 as a fork of Bitcoin. Ravencoin is a decentralized network which, with the help of blockchain technology, wants to make it possible to send assets quickly and easily from one party to another. In this context, it is not so much the assets (e.g. gold) that are transferred, but the right to the assets. This system also offers the possibility to send other types of assets over the Ravencoin blockchain, while with the Bitcoin blockchain it is only possible to send Bitcoin for security reasons.
Ravencoin works broadly just like most other blockchains. However, the Ravencoin blockchain is specifically aimed at being able to send different types of assets. This is achieved by not sending the actual assets, but only the rights to the assets. Now that the goal is to send many different types of assets over the Ravencoin, the Ravencoin blockchain can also recognize many types of assets and / or transaction descriptions. This is in contrast to other blockchains where assets can even be lost if they are not sent correctly with the correct description.
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 Ravencoin. 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 Ravencoin and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Ravencoin without any technical knowledge. Here is a brief overview of the existing wallet options to store your Ravencoin:
Hosted wallets are wallets where the private keys to your Ravencoin 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 Ravencoin 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 Ravencoin. 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 Ravencoin, and if malicious parties have access to your device, your private keys (and therefore your Ravencoin) can be stolen.
A hardware wallet is a physical device on which you can store your Ravencoin offline. It is one of the safest ways to store your Ravencoin, 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 Ravencoin is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Ravencoin. Once you have purchased Ravencoin on Bitvavo, you can choose to send your Ravencoin from your Bitvavo wallet to your own software or hardware wallet.