Tellor is an oracle system where developers can request the value of an off-chain, real world data point and miners compete to add this value to an on-chain data-bank. This data is then made accessible to all Ethereum smart contracts which can settle automatically according to the data provided. The inputs to this data-bank are secured by a network of staked miners. Tellor utilizes crypto-economic incentive mechanisms, rewarding honest data submissions by miners and punishing bad actors through the Tellor token Tributes (TRB), and a dispute mechanism.
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 Tellor. 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 Tellor and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Tellor without any technical knowledge. Here is a brief overview of the existing wallet options to store your Tellor:
Hosted wallets are wallets where the private keys to your Tellor 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 Tellor 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 Tellor. 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 Tellor, and if malicious parties have access to your device, your private keys (and therefore your Tellor) can be stolen.
A hardware wallet is a physical device on which you can store your Tellor offline. It is one of the safest ways to store your Tellor, 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 Tellor is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Tellor. Once you have purchased Tellor on Bitvavo, you can choose to send your Tellor from your Bitvavo wallet to your own software or hardware wallet.