What are Bitvavo hosted (hot) wallets?
What are Bitvavo hosted (hot) wallets? What are Bitvavo hosted (hot) wallets?

What are Bitvavo hosted (hot) wallets?

Bitvavo offers hosted wallets to all its users. A hosted wallet is a wallet in which your digital currencies can be stored easily and securely. You will need a different wallet for almost every digital currency.

As soon as you have created an account, we will automatically provide you with a hosted wallet for every digital currency available for trading on our exchange. Using our hosted wallets has a few advantages:

  1. You do not have to download software to be able to store your digital currency.
  2. It is easier to send digital currency to other wallets or receive digital currency on your Bitvavo hosted wallet.
  3. You always have access to your digital currency and can sell or exchange it for a different digital currency at any time.
  4. The Bitvavo hosted wallets are well secured and completely free.

Besides using a Bitvavo hosted wallet, you have a few other options for storing your digital currency:

  • A personal wallet that you manage yourself. This will require you to download software, but allows you to remain completely independent.
  • A hosted wallet offered by another third party. There are many parties who provide (free) hosted wallets.

Which wallet solution suits you best depends on your personal preferences and needs.

Why do hosted wallets not have a recovery key?

A recovery key is an important tool for restoring access to your wallet, but you don't get one with Bitvavo. This is because Bitvavo manages all the necessary keys and security measures to keep your cryptocurrency safe.

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