How to Buy VeChain (VET) in 2021: [Step-by-Step Buyers Guide]

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As of January 1, 2019, the VeChain (VET) token is trading at $0.000846 USD. This article will show you how to buy VeChain in 2021 for a total cost of $1.

The how to buy vechain on coinbase is a step-by-step guide that will help you purchase VeChain (VET) in 2021.

It can be a bit overwhelming for those who are new to the crypto market when attempting to buy their first cryptocurrency; not only is the entire exchange interface new, but unless you already have some stock market experience, it can be even more confusing when the token you want to buy is for some reason paired to the price of another cryptocurrency like Bitcoin, or to a fiat currency. Does this imply that you must first purchase the paired cryptocurrency? Yes, it’s aggravating.

Thankfully, by laying out a step-by-step instruction on how to buy your first cryptocurrency, this post may help relieve some of that worry. This page is for people interested in purchasing VeChain’s VET token. However, the advice may be readily applied to the purchase of other cryptocurrencies.

QUICK GUIDE: Purchasing VeChain

1. Visit Binance’s website. 2. Create an account and get it confirmed. 3. Set up two-factor authentication. 4. Select the Exchange tab from the drop-down menu. 5. Choose the VET pair you’d want to swap. 6. Go to the Order Tab and click on “Buy Order.” Place your order and wait for it to be filled. 7. You’re the proud owner of some VET now.

Top 5 Exchanges to Purchase VeChain

Binance is the first cryptocurrency.

Binance, based in Malta, is the world’s biggest cryptocurrency exchange by daily trading volume. Not least because there are up to 540 different kinds of cryptocurrencies to choose from, including VeChain.

Although it started off as a strictly crypto-to-crypto exchange, it currently accepts a limited amount of fiat currency deposits and withdrawals through bank transfers or visa credit cards.

Binance is particularly attractive because of its cheap trading costs (0.01 percent ). You will pay less fees if you purchase and keep its native token, BNB. Furthermore, as long as you put cryptocurrency into your account, no KYC (Know-your-customer) is needed. You just create an account, set up two-factor authentication, and fill your account by depositing coins or purchasing coins with a Visa credit card or bank transfer if the exchange platform accepts your local currency.

The site stated that customers having US passports will be restricted from trading. The primary reason for this is because Binance just established Binance.US, a specialized exchange for US residents that meets all legal standards.

2. Alternately

Changelly, based in Malta, is an anonymous cryptocurrency exchange that enables users to purchase and sell cryptocurrencies without having to go through a KYC process. You may use Trezor, Ledger, Exodus, Jaxx, Coinomi, and Edge to access the exchange through their website, mobile app (Android only), or different third-party wallets including Trezor, Ledger, Exodus, Jaxx, Coinomi, and Edge.

VeChain may be purchased using another cryptocurrency or with a credit or debit card. It’s worth noting, though, that costs connected using credit or debit cards are much higher. This is because the system must convert your fiat money to BTC and then back to VET when it accepts your card.

Fees for trading are 0.5 percent.

There are no purchase restrictions when purchasing crypto to crypto. However, there are restrictions when purchasing cryptocurrency with fiat money, which vary by location.

3. Wallet Atomic

The Atomic wallet is well-known for its ease of usage. It is available in both desktop and mobile versions. Surprisingly, this wallet can hold a wide range of coins, including those from other blockchain ecosystems. Furthermore, it includes its own exchanging exchange. That means you may trade one cryptocurrency for another without ever transferring any of your funds to an exchange.

Furthermore, you may purchase cryptocurrency using your credit card, all inside the boundaries of your wallet. You will, however, have to pay fees.

In terms of VeChain, the wallet supports it, and just holding it earns you Vtho.

Crypto.com is number four.

Crypto.com is an online cryptocurrency exchange. It is made up of a number of interconnected goods and services, and it functions as its own ecosystem. It has its own app, exchange, Defi swap and wallet, as well as staking, lending, and other features. Most importantly, it offers VET tokens for purchase.

It also includes two native tokens, MCO and CRO, which give discounts and incentives to users.

Anyone who wants to engage in a lot of things has to go through a KYC process. Makers pay 0.04-0.20 percent in fees, while takers pay 0.10-0.20 percent. There is a 3.5 percent + $10 charge when purchasing cryptocurrency using a debit or credit card. Deposits and withdrawals are both free of charge.

All you have to do is go to the crypto.com website and download the app. Scan the QR code on the main page or go to the app store link. Then, from your phone, download the app.

Start the app once it has been downloaded and follow the steps to get your identity confirmed.

5. KuCoin

KuCoin is a cryptocurrency exchange headquartered in Hong Kong that is known for its broad range of cryptocurrencies. KCS, the native token, may be held by users to obtain discounts and other incentives. Nonetheless, even without reductions, its costs are reasonable.

Unlike other exchanges, there is no need for KYC or other forms of ID verification. You will also be required to utilize two-factor authentication.

To finance their account, users may utilize bitcoin, Interac E-transfer, debit or credit card, Paypal, or wire transfer.

How to Buy VeChain on Binance: A Step-by-Step Guide

We’ll utilize the Binance exchange to demonstrate how to purchase VET or any other cryptocurrency for the sake of simplicity.

Step 1: Open a Binance account.

Go to the webpage of the trading platform. Fill out the necessary information after you’ve arrived. You only need to enter your email address if you are just intending to deposit bitcoin to trade.

How to Buy VeChain (VET) in 2021: [Step-by-Step Buyers Guide]

 

Set up Two-Factor Authentication in Step 2.

Binance will ask you to set up two-factor authentication, or 2FA, at this stage. This is to improve the security of your account. You’ll need to have a Google Authenticator app installed on your phone. As a result, whenever you log in, make a withdrawal, or do any other essential operation, your phone will display a unique code that you must input as verification.

Step 3: Make a Coin Deposit

This area is exclusively for individuals who are planning to deposit cryptocurrency in order to begin trading or purchasing another token.

When you’ve finished setting up your account, go to the top of the page and choose ‘Market.’ You’ll be able to check which currency or token VeChain is linked to after you’ve arrived. VET is currently linked with BTC, USDT, ETH, and BNB, among other currencies.

After you’ve decided which paired token you’ll use, go to the wallet area, as shown in the picture below. Scroll through the list of currencies supported by Binance until you find the one you wish to deposit. You may also use this address to transfer your money to other exchange platforms.

To transfer money from your private wallet, copy the unique address of that specific currency.

How to Buy VeChain (VET) in 2021: [Step-by-Step Buyers Guide]

Step 4: Exchange your cryptocurrency for VeChain.

You may go to the top of the page and click on ‘Exchange’ after your currency has been securely put into your account. Once you’ve arrived, you may choose between using the ‘Basic’ or ‘Advanced’ trading platforms. If you’re a beginner, it’s best to start with the first.

How to Buy VeChain (VET) in 2021: [Step-by-Step Buyers Guide]

Your new currency will show on your Binance account after you’ve discovered the matched token using VET and purchased it.

Although exchanges like Binance try to make the platform secure for your coin, it is HIGHLY recommended that you transfer your newly acquired funds to a private wallet unless you plan on using them for further trading, lest you risk losing them should Binance ever suffer an attack, or the exchanges restrict users from withdrawing their funds for whatever reason. “Not your keys, not your crypto,” as the phrase goes.

Withdrawing your VeChain Tokens (Step 5)

Return to your wallet and choose the ‘Withdraw’ option. Type the abbreviation or full name of VeChain as shown in the figure below.

Copy the recipient’s VeChain address and paste the public address from your private wallet. Please note that a minimum of 200 VET tokens must be withdrawn. A withdrawal fee of 100 VET tokens is charged.

After that, enter the amount you want to withdraw. The handling charge will be calculated automatically by the system, and the actual arrival amount will be calculated as follows: real arrival amount = withdrawal amount-withdrawal fee Then just click the’send’ button.

How to Buy VeChain (VET) in 2021: [Step-by-Step Buyers Guide]

 

The best wallets for VeChain VET

1. VeChainThor Wallet for Mobile

The VeChainThor Mobile Wallet is the official non-custodial VeChainThor wallet, capable of holding VET, Vtho, and any other VeChain utility tokens (VIP-180) and non-fungible tokens (VIP-181) on the VeChain network. This implies you won’t be able to hold any tokens that aren’t standard tokens, such as Ethereum, Algorand, and so on.

It features a strong security protection mechanism that is also extremely user-friendly. Not to mention its aesthetic elements, which give it a professional and tidy appearance. It works with both iPhones and Android phones. It should be noted, however, that this is a hot wallet. Unless you’re utilizing the observe wallet function, you’ll need to connect to the internet to handle your crypto.

It is currently only accessible as a mobile function, but a PC version is in the works. It’s private, like other wallets, so no Know-Your-Customer (KYC) is needed. Holding on to VET does, in fact, produce Vtho tokens in your wallet. You can also collect Vtho awards from our node program’s competitions directly from the wallet.

It is unusual in that it offers a swap service, allowing users can exchange any old VEN (ERC20) tokens for VET (VIP-180) tokens. It also has a Node application that enables users to bind a Node if they have the necessary number of VETs. Furthermore, a caution message always appears before transferring any tokens, reminding users that they should never move any VIP-180 standard tokens to any other blockchain except its own. You’re going to lose them! It also has a function called “Observe wallet,” which allows you to see your VET money in another wallet!

It also enables you to establish numerous wallet accounts, each with its own set of private keys. It also has a dapps browser that enables you to access all VeChain dapps directly from the wallet.

Similar to a contact list, you may also save a user’s receiver address.

Atomic Wallet is number two.

The Atomic wallet is a multi-currency non-custodial wallet that can hold hundreds of currencies and tokens. It has a reputation for being very user-friendly. It also offers excellent security features, such as fingerprint authentication. However, since it is a hot storage wallet, you will require access to the internet to handle your cryptos. However, since it is private, no Know-Your-Customer (KYC) documentation is needed.

It enables you to store a broad range of tokens, including ERC20 and non-ERC20 tokens from different ecosystems like as Bitcoin, Litecoin, Ethereum, VeChain, Algorand, and others since it is a multi-currency wallet. It cannot, however, hold ERC-721 tokens (non-fungible tokens).

This wallet is unique in that it includes its own swap exchange, allowing for flexible atomic token exchanges. It is linked to Changelly’s pricing feeds, leaving it vulnerable to any price fluctuations on the platform.

If you have VET tokens in your wallet, you can create Vtho just like with the VeChainThor mobile wallet. Atomic wallet, unlike VeChain’s official wallet, offers a mobile and desktop wallet option and is compatible with both IOS and Android phones. Windows, macOS, Ubuntu, Debian, and Fedora all support the desktop wallet functionality.

Another interesting feature is the Atomic wallet’s own native currency, the AWC token, which enables you to stake and earn additional AWC tokens as well as get various incentives and discounts. It offers customer care assistance 24 hours a day, seven days a week, which is a huge comfort since it means you may get help very immediately. You have the option of chatting online with a representative or sending an email.

One of the minor drawbacks is the lack of a multiple wallet option.

3. Have faith in your wallet

The Trust wallet is a multi-currency non-custodial wallet. Up to 15 main cryptocurrencies and 20,000 supporting tokens may be supported. Non-fungible tokens are included in this category (NFTs). Easy to use, much like the other wallets listed previously. And, like the others, it’s a hot storage wallet, which means you’ll require access to the internet to handle your cryptos.

It has its own decentralized swap exchange built in, however the amount of tokens you may trade for another is restricted. It is, at the very least, private, thus there is no need for Know-Your-Customer (KYC). It also comes with a lot of security measures.

The Trust wallet, like the Atomic wallet, lets you store several cryptocurrencies from different blockchain ecosystems, including Bitcoin, Litecoin, Tezos, Ethereum, and VeChain. If you own a VET token, it will create Vtho for you and deposit it directly into your wallet.

It also includes its own Dapp browser, allowing you to use dapps without ever leaving Trust wallet. It also supports multiple wallets, enabling you to save your money in several wallets from one app! It also has a great wallet connect function that allows you connect to a lot more dapps than other wallets.

Its code is open-source, enabling anybody to look for flaws and promote continuous development. It does not, however, provide live customer assistance. If you’re experiencing trouble, you’ll need to utilize telegram or discord to communicate with someone.

Exodus Wallet is number four on the list.

Exodus, a non-custodial, multi-currency wallet, is another excellent option. It can hold over 125 different cryptocurrencies. This includes VET, for which Vtho tokens may be earned directly in your wallet. It’s accessible on both the desktop and mobile platforms. It may be used on either IOS or Android using the mobile function.

Thankfully, it includes a built-in crypto exchange as well as 24-hour customer assistance. When you use it, though, you will have to pay a spread of 2% to 5%.

Another benefit is that it is simple to use. However, since it is a hot storage wallet, you will require access to the internet in order to handle your cryptos.

Custom transaction fees are only available for Bitcoin in the Exodus wallet. It automatically sets a price for you for Ethereum and other cryptocurrencies, which may be costly if a network is overcrowded. However, since it is private, no Know-Your-Customer (KYC) procedures are needed.

Exodus is linked with the Trezor cold hardware wallet for further protection. It also has an app explorer that allows you to access any dapp without having to leave your wallet.

5. Ledger Nano S and X (Ledger Nano S and X)

The Ledger Nano S and X are multi-currency wallets with cold storage and no custody. Tokens are kept securely and may be handled remotely. In terms of security, the Ledger is preferable than a mobile or desktop wallet. It is a very technologically sophisticated coin storage and security gadget that can hold over 1,100 coins. In US dollars, the Ledger Nano S costs $59, while the Ledger Nano X costs $119.

What’s amazing is that you may exchange tokens from inside the Ledger Life program. Furthermore, the Ledger Nano S and X also support the storage of VET and Vtho tokens. VET tokens, on the other hand, cannot be stored directly on the ledger. The Sync Desktop Browser must be downloaded, connected to your Ledger Nano, and VET tokens must be stored on the Sync Desktop itself.

Other Web3 wallets, like as metamask, are linked with the Ledger, allowing you to securely connect your ledger to specific defi protocols.

Despite the fact that it can hold more than 1,000 currencies, the Ledger Nano S can only keep a few tokens. This is determined by the amount of memory available for each coin. The required memory space to download the program to store Ethereum and all ERC-20 and 721 tokens, for example, is considerable.

However, since so many coins are ERC-20, you may store as many ERC-20 tokens as you want. It can only support a limited number of blockchain ecosystems. The Ledger Nano X, on the other hand, enables you to store a lot more currencies and tokens. It also has a Bluetooth function built in. The S, on the other hand, is less expensive than the X.

Despite their stellar reputations, both gadgets have a reputation for being difficult to set up and time-consuming. Furthermore, since it is a cold wallet, it restricts travel. You wouldn’t be able to access your money from anyplace unless you had your ledger with you at all times, which made losing it a danger.

Furthermore, phishing emails using the company’s logo are frequent, persuading consumers to download or update malware-infected software. The Ledger Live software, which informs users when they log in, contains any genuine upgrades. Users are not allowed to download anything from any email. Before proceeding, users are advised to call the business to double-check that the email originated from them.

Additional VeChain Information

What exactly is VeChain?

VeChain is a blockchain as a service provider that specializes in supply chain management for businesses. It develops solutions for monitoring and giving evidence of authenticity for commodities and products exchanged using the Internet of Things (IoT) and blockchain technology. It aims to reduce the annual loss of billions of dollars due to counterfeiting.

In a word, VeChain’s primary goal is to provide each item and product a unique identifier that can be traced on the blockchain. The VeChainThor blockchain will be able to track a product’s entire lifespan, from the moment it is first manufactured to when it reaches consumers, with every single detail about where, how, and when it was made, how it was transported, who or what enterprise was responsible, when it arrived at its destination, and so on. Basically, everything is done in an open and transparent way. VeChain, on the other hand, does a lot more than simply assist with supply chain efficiency.

The VeChainThor blockchain may be used for a number of additional purposes as well. The VeChainThor blockchain, like Ethereum, was created with the intent of allowing developers and consumers to create their own dapps and ecosystems on top of it.

Also read: VeChain Review

Is VeChain Worth Investing In?

Yes, it is correct. VeChain has a huge chance of succeeding in every manner. Since its rebranding in 2018, it has forged alliances with a number of well-known companies, including Walmart China, Shanghai Gas, BMV Group, Mediterranean Hospital of Cyprus, and H&M, to mention a few.

Other organizations that have made the eVeChainThor ecosystem their home include Vulcanverse, a virtual online game set in the Roman-Greco era, Vimworld, a blockchain-powered smart collectibles (Non-fungible tokens or NFTs) platform and ecosystem, and Jur, a legal decentralized platform that offers enterprises easy access and transparent legal dispute resolutions.

It should be emphasized, however, that despite the many relationships it has formed, the full potential of its ecosystem has yet to be realized. Although some of these companies’ goods, such as Walmart China’s, are currently monitored on the blockchain, considerable work remains before they can be completely connected and tracked.

BMW Group, for example, has failed to integrate its vehicle components and carbon emission service onto the blockchain, despite being a partner since 2018. The company’s pilot program is still running. As a result, investing in VeChain should be seen as a long-term strategy.

Also see: VeChain Price Forecast

Major Improvements

VeChain hasn’t been slacking when it comes to innovation and development. VeChain has been hard at work on two big and substantial improvements to its ecosystem over the last year or so. The initial update, dubbed PoA 2.0, is to the consensus algorithm. The Fee-Delegation as a Service (DaaS) function is the second update.

Proof-of-Authority (Secure Use-case-adaptive Relatively Fork-free Approach of Chain Extension) is short for PoA 2.0-Surface. It’s a new and better consensus method that’s supposed to make the whole transaction process quicker, cheaper, and safer. It is anticipated to be released in the first half of 2021. Please see PoA 2.0 for a more comprehensive explanation.

One of the primary motivations for PoA 2.0 has to do with a prospective significant partner who is anticipated to use its blockchain in the near future. Sunny Lu, the CEO of VeChain, said a new company that is ready to join the network in a tweet. It is anticipated that this business alone would produce millions of transactions each day!

Only a few hundred thousand transactions are generated each day at the time of writing this article. VeChain’s present scalability, according to the shared video, is insufficient to fulfill this company’s requirements. This is most likely the primary cause behind VeChain’s PoA consensus algorithm’s upgrade to PoA 2.0.

The second enhancement is VeChain’s planned Fee-Delegation as a Service (DaaS) functionality, which is set to launch in 2021. Users utilizing a decentralized application, or dapp, will no longer need to purchase its Vtho token in order to create a smart contract or transaction, according to a post released by the leader of this new update, CTO Dr. Peter Zhou.

Instead, a DaaS provider will manage all gas use, and it will invoice the gas expenditure to the dapp for payment later. Customers that use the dapp will now be able to use any platform without having to worry about transaction fees!

COVID-19 and the Fight Against It

VeChain took the initiative to start fighting COVID-19 because of its extensive engagement in the supply chain industry. VeChain and I-Dante joined together in May 2020 to develop E-HCart, a blockchain-based medical records app that allows users to record all medical data and testing, including COVID-19 testing and immunization, directly on the blockchain.

Patients would have all of their medical history information immediately on their phone, as first tried by the Mediterranean Hospital of Cyprus. This not only makes it much easier to transmit medical data from one institution to another, but it also gives the patient complete control over it. Doctors will not be able to see them unless the patient gives permission.

The E-HCart app was extended in January 2021 to include the Aretaeio Hospital in Cyprus.

Conclusion

Yes, VeChain has been extremely active in recent years, and it shows no signs of slowing down. While the pandemic halted many businesses’ operations and growth, VeChain forged forward, even defying the crisis (in a positive manner) by demonstrating what it is capable of. And the company has taken note.

With the growing demand for blockchain technology, VeChain has put itself in a strong position to ultimately end counterfeiting and even assist the medical sector in easily obtaining medical data without compromising the patient’s privacy.

While the project is still in its early stages, and developers are seldom using its blockchain in comparison to other blockchain ecosystems such as Ethereum, the future seems bright for this project to have a global effect.

The best place to buy vechain is a question that many people have been asking. In this guide, we will show you how to buy VeChain (VET) in 2021.

Frequently Asked Questions

How do I buy a VeChain vet?

You can purchase a VeChain at the following exchanges:

How do you buy VeChain with Coinbase?

You can buy VeChain with Coinbase by going to the Buy/Sell tab and clicking on Cryptocurrency. From there, you will be able to select VeChain from a drop-down menu.

What exchanges sell VeChain?

VeChain is not currently for sale on any exchanges.

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About the author

Emilia James
By Emilia James

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