Bitvavo makes Verge as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
Verge (XVG) is an open source decentralized platform that wants to set up a financial system based on blockchain technology. Verge strives to implement the Bitcoin concept with the difference that the privacy of users must remain. As a result, it should be possible for users to simply send Verge to each other, while the privacy of the receiving and sending party remains guaranteed.
Like many other digital currencies, Verge uses blockchain technology. Because the blockchain technology ensures that all transactions are transparent, Verge protects the identity and location of the people who carry out transactions with the help of Tor and I2P. This technology makes it virtually impossible to trace which person has made which transaction. In addition, a user does not have to rely on a third party, now that Verge has ensured that the anonymization of transactions is decentralized.
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 Verge. 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 Verge and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Verge without any technical knowledge. Here is a brief overview of the existing wallet options to store your Verge:
Hosted wallets are wallets where the private keys to your Verge 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 Verge 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 Verge. 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 Verge, and if malicious parties have access to your device, your private keys (and therefore your Verge) can be stolen.
A hardware wallet is a physical device on which you can store your Verge offline. It is one of the safest ways to store your Verge, 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 Verge is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Verge. Once you have purchased Verge on Bitvavo, you can choose to send your Verge from your Bitvavo wallet to your own software or hardware wallet.