What is VeChain?
VeChain is an entrepreneurial blockchain. VeChain helps big enterprises to track their product from its manufacture time till it reaches consumers. VeChain utilisés technologies like IoT (Internet of things) and distributed governance to find and tackle any issues in the process and ensure the quality for consumers.
From medical to food & beverage, big enterprises in all industries leverage VeChain for safely delivering their products. VeChain facilitates real-time transactions and data-sharing among users.
VeChain is one of the oldest smart contract platforms launched in 2015. VeChain is quite successful in increasing efficiency, traceability, and transparency across many ecosystems, supply chains, and data trails.
VET and VTHO are two tokens of VeChain. VET is the utility token for Vechain, and it is used for facilitating transactions that occur on VeChain.
A Step-by-step Guide On How To Buy VET
Confused about how you can buy VET? Let us guide you. Here is the Step-By-Step Guide On How To Buy VET:
Step 1. Create an account on any exchange that supports VET trading
VET is traded with Bitcoin(BTC), US Dollars (USD), or Ethereum(ETH), depending on the exchange you choose. You just need an email address and a password to register for an account. For an extra layer of security, they set up 2-factor authentication.
Step 2. Deposit funds into your account
When it comes to depositing funds into your account, many crypto exchanges do not allow the direct deposit of fiat currency and only trade between cryptocurrencies. Therefore, you might need to buy or own BTC or ETH first.
Again, the process for depositing funds into your account is different for different platforms. For example, on Kucoin, there is the option of “Assets” in the top menu, where users can choose the cryptocurrency they want and complete the process by clicking on “Deposit”. On Binance, you need to select “Funds” and then finally “Deposit” in the menu.
Step 3. Buying VET
The last step in the buying process of VET crypto is to trade the chosen cryptocurrency on the exchange. The exact process for trading will again vary depending on the platform you choose.
On Binance, for example, you are required to click on the chosen trading pair(such as VET/BTC), and then select the best available market price and finally click on “Buy VET”.
Where To Buy And Sell VET
There are various cryptocurrency exchange platforms where you can buy and sell VET. Some of them are listed below:
- Changelly: Changelly allows trading of 156 cryptocurrencies, including VET. It offers two deposit methods: Credit card and cryptocurrency.
- Kucoin: Kucoin offers fund depositing through Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA. 514 cryptocurrencies are traded on Kucoin.
- FTX: FTX allows the deposit of funds through Credit card, Wire transfer, Silvergate Exchange Network (SEN), Signature SIGNET. 256 cryptocurrencies are traded on FTX.
VeChain Wallet Options
Choosing a Wallet may seem like a minor task. However, choosing the best wallet for your crypto assets is quite important. It ensures the security of your investments and allows easy access to them in the future.
Ledger Nano S (Hardware Wallet)
Ledger Nano S is one of the best-selling hardware wallets and offers great security. Some of the key features of the Ledger Nano S are as follow:
- User’s Data is secured with a PIN code.
- Accounts are fully backed up and encrypted.
- Easy and simple setup process.
- It supports multiple cryptocurrencies.
- Anti-malware second-factor checks.
Exodus Wallet(Hardware Wallet)
The Exodus wallet is one of the best options for beginners and experts alike. It makes trading accessible anywhere you travel with exchange and mobile features. If you prefer HODL your bag for the long term, it also has hardware options.
VeChain Thor Sync (Desktop Wallet)
As of now, one of the only options you have for storing VET is the VeChain Thor Sync. It was created shortly after the main net launch of cryptocurrency and is available for Windows and OSX. Although it gives access to the VeChain blockchain and has the ability to send and receive coins, it still lacks proper polishing.
VeChain Thor Wallet: VeChain’s Software Wallet
VeChain created the VeChain Thor wallet for their tokens. The wallet app is available both on iPhone and Android. VET and VTHO aren’t Ethereum-based; unlike many altcoins, they operate on Thor, VeChain’s native blockchain. This makes VeChain tokens incompatible with popular software wallets such as metamask.
VeChain Price Prediction
At the time of writing, the price of VET crypto is $0.0485, up 10.26% in the last 24 hours.
On their algorithm-based forecasting, Wallet Investor has predicted the price of VeChain a year from now. According to their prediction, VeChain will climb to 0.3 US dollars, especially looking at the current price and momentum of the blockchain network.
The price prediction platform also adds that the price of VeChain can reach $0.42 in five years. In conclusion, Wallet Investor forecast predicts bullish trends for VeChain.
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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