Storj is an Ethereum token used to pay and reward users pariticipating in Storj's Decentralized Cloud Storage (DCS). When a user uploads a file to the Storj DCS, it is encrypted, divided, and distributed within nodes in the Storj DCS. Essentially, Storj aims to provide decentralized secure hosting which developers can pay for using Storj. Likewise, users offering their hardware as a node in the network are compensated with the Storj token.
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 STORJ. 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 STORJ and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store STORJ without any technical knowledge. Here is a brief overview of the existing wallet options to store your STORJ:
Hosted wallets are wallets where the private keys to your STORJ 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 STORJ 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 STORJ. 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 STORJ, and if malicious parties have access to your device, your private keys (and therefore your STORJ) can be stolen.
A hardware wallet is a physical device on which you can store your STORJ offline. It is one of the safest ways to store your STORJ, 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 STORJ is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive STORJ. Once you have purchased STORJ on Bitvavo, you can choose to send your STORJ from your Bitvavo wallet to your own software or hardware wallet.