This article shall throw light upon how to buy VeChain(VET) tokens. Furthermore, we shall discuss various cryptocurrency exchange platforms that facilitate VET purchase and how we can purchase VeChain Token on Binance and Coinbase particularly.
Table of contents
- Summary (TL;DR)
- What is VeChain?
- What is VET?
- How to buy VeChain token VET?
- Where to buy VeChain (VET)?
- How to buy VeChain (VET) on Binance?
- How to buy VET on a Dex?
- Where to buy VeChain in US?
- How to buy VeChain in USA?
- Pros and Cons of buying VeChain
- Buy VeChain: Conclusion
- Frequently Asked Questions
- VeChain is a semi-decentralized platform that was designed to streamline the flow of information in the supply chain and improve management in the chain.
- VET is a token of the VeChain platform and is used to transfer value across the blockchain.
- VeChain can be purchased over centralized cryptocurrency exchange platforms or they can be purchased directly also.
- Various exchange platforms such as Binance, Bittrex, Huobi Global, CoinDCX, and many other platforms also facilitate buying VET.
- There are pros and cons associated with the VeChain platform and therefore a well-informed decision should be made while investing in VET.
What is VeChain?
VeChain is a platform based on Distributed Ledger Technology (DLT) designed specifically to improve supply chain management and business processes. Its goal is to streamline the flow of information in complex supply chains. It was founded in 2015 by Sunny Lu.
Furthermore, the platform has two kinds of tokens:
- VeChain Token (VET)
- VeChain Thor Energy (VTHO)
What is VET?
VeChain’s token is VET carries value or ‘smart money’ from the smart contracts. This token is available to the general public for investing. Furthermore, VeChain is used to transfer value across blockchain and can also trigger smart contracts.
How to buy VeChain token VET?
There are generally two ways to buy VET. Firstly, you can select one of the centralized cryptocurrency exchange platforms which support VeChain. Secondly, you’ll have to buy VET using a different crypto asset. In this method, you can either swap an asset you own for VeChain or you can transfer a stable coin to a platform that facilitates buying VET. Moreover, both the processes are supported on laptops, PCs, and mobile devices, with both Android and iOS systems. Finally, the purchase can also be made via credit or debit card.
Where to buy VeChain (VET)?
VeChain Token (VET) is a quite popular and respectable cryptocurrency given the fact that it is listed within the top 30 cryptocurrencies which are in the market currently. Therefore various cryptocurrency exchange platforms can be used to purchase VET.
The best cryptocurrency exchange platforms which facilitate the easy purchase of VET are:
However, VET is not tradable on popular cryptocurrency exchange platforms such as Coinbase and Gemini.
How to buy VeChain (VET) on Binance?
Follow these simple steps to buy VeChain token on Binance:
- Sign up or sign in to your Binance account using your phone number or email id.
- Click on the ‘Buy Crypto (USD)’ option on the Binance platform after verification is over.
- Select the ‘Credit/ Debit Card’ option.
- Thereafter, select VET in the coin to buy.
- Finally, hit the ‘Buy VET’ option and credit card purchase of VET will begin.
How to buy VET on a Dex?
Follow the steps below to buy VET on a decentralized exchange platform such as Simpleswap:
- Go to the Simpleswap platform.
- Connect your wallet which contains Ethereum tokens to the SimpleSwap platform.
- Select the cryptocurrency you would like to exchange from, here ETH.
- Select the cryptocurrency you want to swap to, here VET.
- Enter the recipient’s VeChain address.
- Click on ‘Exchange’ option.
- You can preview the transaction in the pop up window.
- Confirm the request of the transaction in your wallet.
- Your transaction shall be confirmed in some time and Ethereum would be easily exchanged for VET.
Where to buy VeChain in US?
Most of the regulated crypto exchanges in the USA such as Kraken, Coinbase, etc. don’t support buying or selling of VET. However, you can still buy and store VeChain by swapping it for some other crypto asset using SwapZone.
How to buy VeChain in USA?
Now, if you don’t want to swap your assets at some DEX, then you can buy a particular asset such as USDC stable coin on your crypto exchange. Thereafter, send it over to a platform that facilitates buying of VET, such as Binance, and buy VET over there. Moreover, if you’re wondering how to use Binance in the USA, then you might try installing the web extension of Hola VPN.
Pros and Cons of buying VeChain
- Quality check – Focus on quality ensures a higher standard of products.
- Semi- decentralized governance ensures higher efficiency.
- Rapid growth without proper guidance and clear goals can be detrimental.
- Lack of complete decentralization and reliance on Proof of Authority.
Buy VeChain: Conclusion
VeChain Token or VET is one of the leading cryptocurrencies in the market; hence investing in it and purchasing them can be beneficial. However, there are several risks associated with every cryptocurrency purchase, and the same is the case with VET. Therefore, you should only invest your money after proper research and with a trading strategy. Furthermore, nothing in this article is financial advice.
Frequently Asked Questions
There are several risks associated with investing in any cryptocurrency; however, with proper research about VeChain (read its Whitepaper) and exercising utmost caution, one can reap the benefits of investing in VeChain, and it can be a good option.
You can go for various decentralized online wallets to store VeChain. Moreover, you can store them in the wallets of your crypto exchange. However, if you’re planning to invest a significant amount, then using a hardware wallet would be the best idea.
If you’re looking for a yes/ no answer, then ain’t one. Nobody can predict a coin’s futures price, hence trading with your own research and sound investment strategy will eventually give you decent results.
Coinbase does not facilitate direct purchase of VET yet; however, one can purchase a major cryptocurrency, generally Ethereum (ETH) or Bitcoin (BTC), and then exchange it over a DEX.