Ren is a protocol aiming to allow users to transfer assets across blockchains. With Ren, users can lock a cryptocurrency and receive another one in return (for example, locking BTC to receive ETH), thus allowing a user to participate in multiple blockchains without selling his original asset. The REN token is used to pay nodes that are operating and maintaining the Ren network.
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 REN. 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 REN and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store REN without any technical knowledge. Here is a brief overview of the existing wallet options to store your REN:
Hosted wallets are wallets where the private keys to your REN 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 REN 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 REN. 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 REN, and if malicious parties have access to your device, your private keys (and therefore your REN) can be stolen.
A hardware wallet is a physical device on which you can store your REN offline. It is one of the safest ways to store your REN, 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 REN is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive REN. Once you have purchased REN on Bitvavo, you can choose to send your REN from your Bitvavo wallet to your own software or hardware wallet.