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

What are the 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 at Bitvavo, Bitvavo will automatically provide you with a hosted wallet for every digital currency available for trading on Bitvavo. Using the hosted wallets from Bitvavo has the following advantages:

  1. You do not have to download software to be able to store you 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 the use of the hosted wallets of Bitvavo, you could also choose to store your digital currency in one of the following ways:

  • A personal wallet that you manage yourself. This will require you have 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 solutions 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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