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How to Buy VeChain (VET) in 3 Simple Steps

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Author: Alice Leetham Updated: April 1, 2022

VeChain is supporting enterprise adoption of blockchain by exploring how this and other emerging technologies can solve real-world problems and create value. As you can't technically buy Vechain, this page will show you how to buy VET, the VeChain blockchain native token, as well as look at what makes the Vechain ecosystem unique compared to other popular cryptocurrencies.

3 Steps to Buy VeChain (VET)

1. Choose a broker or cryptocurrency exchange

Finding a platform that offers VET is the first thing you will need to do in order to purchase it. Safety is very important and reputable, regulated platforms are the most likely to be secure. You can see a comparison of the best crypto platforms further down this page, or sign up with our top choice now if you prefer.

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Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
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2. Create and fund your account 

Fill in all the required fields on the registration form in order to create an account. Regulated platforms often have a KYC process, which could mean you need to enter personal information like a photo ID and/or proof of address. Go to the deposit page once your account has been verified and select a payment option such as credit or debit card to fund your account.

3. Buy VeChain

If you have just deposited fiat currecnies like British pounds, you will need to find the VET/GBP trading pair. If there isn’t one, you will first need to swap your GBP for a currency that is traded against VET, such as BTC or USDT. Create a market order to buy VET instantly or a limit order to buy it once it reaches your chosen price.

Buy Vechain in 3 Easy Steps

Create a free account

Fill all the requested information using your personal data accurately. Check your inbox for a confirmation email and log in with your selected email and password.

Fund your account

Choose your favourite payment method and follow the steps to make your first deposit. The minimum deposit amount might change depending on your location.

Buy Vechain!

Search for Vechain on the list of available cryptocurrencies. Use a "Buy Order", choose the amount of VET to buy, set up other trade details and confirm the order.
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Buy VeChain Today!

What Is VeChain?

VeChain is a blockchain technology company that aims to make it easier for businesses to apply blockchain solutions and drive mass public adoption. This has led to a number of innovative enterprise-grade applications in sectors such as luxury goods, automotive, alcohol, food safety, and sustainability.

The VeChainThor public blockchain hosts applications that are designed for mass adoption. It uses a novel consensus algorithm called Proof of Authority which is more efficient than Proof of Work as it requires less computational resources and network bandwidth. 

It also has innovative transaction features that enable businesses to cover transaction fees for their users and carry out multiple tasks in a single transaction, such as facilitating token airdrops, fund distribution, or mass product registration.

VeChainThor has a  dual token system. VET is used as a medium of transferring value on the network and has smart contracts, while VET holders get free VTHO, which is used to pay for transactions and other operations on the blockchain.

Ways to Invest in VeChain

Depending on your own goals and preferences, you may decide to buy VET for the short term or the long term. We’ll look at why each can be profitable in more detail below.

Buy Vechain and Hold it

The buy and hold strategy is one that anyone can use—you simply have to buy some VET and hold onto it for a period of time. It doesn’t matter if you’re not well-versed in technical analysis as very little time and effort is required to profit from buying and holding. 

Although VET can’t be staked, simply holding VET in your wallet means you will generate free VTHO. This VTHO enables you to use the VeChainThor blockchain for free and can also be traded on the market.

Best VeChain wallets

A Private VeChain wallet is a popular place to store tokens for long-term holders as they are often more secure and mean that you can always access your tokens without having to rely on a centralised service.

The most secure option is hardware wallets such as Trezor, BitBox, and Ledger, though these can be a bit costly and technical to use, and don't always support all cryptocurrecny. Smaller investors may prefer less secure software wallets as they are free, user-friendly, and available for desktops and mobiles.

Traders may wish to choose a combination of a hardware wallet and a software wallet so that they can securely hold a portion of their VET while also being able to quickly make trades.

VeChainThor has its own mobile wallet app which can be used to store coins.

Trade VeChain

Those looking to trade VET can take advantage of the volatility in price by buying and selling it more frequently. This is more complicated and time-consuming as traders often use skills such as technical analysis to decide when to buy and sell. For more information on price predictions, read our VeChain price forecast here.

If you want to access your tokens regularly, a private wallet might not be the best place to store them as it could be inconvenient. Although less secure, web wallets are popular with traders and provided for free by cryptocurrency exchanges. You should take this into consideration if you're looking to trade VET on a regular basis.

Should I Buy VeChain Now?

We can provide you with information about tokens on the VeChain network but you will have to make investment decisions for yourself. The maximum supply of VET is fixed and this scarcity could potentially make the token a good store of value in the long term.

Simply holding VET provides you with free VTHO, which could incentivise people to buy VET if they want to benefit from free transactions on VeChainThor. More complicated operations, like running a blockchain application, require more VTHO, meaning businesses and developers could be persuaded to buy VET in larger quantities.

The value of VET will likely correlate with the success of the VeChain network, with more applications, services, and users on the blockchain making VET more valuable. VeChain already has a number of business and technology partners, and its focus on efficient, enterprise-grade solutions could help it achieve its goal of mass blockchain adoption.

Frequently Asked Questions

  1. You don’t need to do anything to claim VTHO. Simply hold VET and VTHO will automatically be added to your wallet.
  2. VTHO is used to pay transaction fees on VeChainThor, so that VET holders can use the blockchain for free. You can also trade VTHO on the market.
  3. Sync is the VeChain Foundation’s official wallet. It allows users and developers to browse and interact with blockchain applications.
  4. VeChain ToolChain is a blockchain application platform built on VeChainThor. It provides services to help businesses use data and create products with blockchain technology.
  5. Proof of Authority (PoA) is the consensus mechanism of VeChainThor. Nodes that participate need to be authorised and have the same chance of publishing new blocks and receiving rewards, meaning they don’t need to use lots of money and resources to compete with each other.

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