Syscoin's blockchain network (SYS) is designed with a unique rollup-centric approach, which combines two blockchains into a single network. The first blockchain utilises the Bitcoin consensus mechanism for secure and reliable transaction processing, while the second blockchain incorporates the smart contract capabilities of Ethereum, using its own version of the Ethereum Virtual Machine (EVM) called the Network Enhanced Virtual Machine (NEVM). With the SYS bridge, users can easily switch between the two blockchains and take advantage of the unique features of each. This enables seamless interoperability and provides a powerful platform for decentralised applications and services. Syscoin's origin can be traced back to 2014, but it has since undergone multiple upgrades and improvements. Syscoin (SYS) is the native token of the Syscoin platform. Depending on the network it’s on, SYS can exist as Syscoin Platform Tokens (SPTs) and ERC tokens.
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 Syscoin. 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 Syscoin and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Syscoin without any technical knowledge. Here is a brief overview of the existing wallet options to store your Syscoin:
Hosted wallets are wallets where the private keys to your Syscoin 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 Syscoin 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 Syscoin. 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 Syscoin, and if malicious parties have access to your device, your private keys (and therefore your Syscoin) can be stolen.
A hardware wallet is a physical device on which you can store your Syscoin offline. It is one of the safest ways to store your Syscoin, 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 Syscoin is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Syscoin. Once you have purchased Syscoin on Bitvavo, you can choose to send your Syscoin from your Bitvavo wallet to your own software or hardware wallet.