How to Buy Vertcoin (VTC) in 3 Simple Steps

5 Things to Consider if you Want to Buy Vertcoin

Before you buy Vertcoin, you want to be sure about a number of factors that you might consider important.  Investors want to check out the payment method, and whether the platform is safe and secure. While the cost and fee structure for each transaction is also a common point of review, there are some other notables to consider, and they are outlined below.

1. Carefully choose your preferred secure payment method

Making payments online requires some careful consideration of the platform and the payment methods that are acceptable. Despite security getting flagged as a top priority, it is also needful to be sure that your preferred method of payment is available. So, if there are other options on the platform, you should also ensure that they do not incur excessive charges.

2. Will you need to set up your own wallet?

Access to a personal wallet is often the case with crypto purchases and is no different with Vertcoin. Anyone who has bought crypto on an exchange account knows that a default wallet is made available when you open a new account. Most crypto exchanges provide users with a ready-to-use wallet with no additional setup needed. 

When trading in Vertcoin CFDs, the user has no need for a wallet as the broker provides a trading agreement that serves as a contract for sale or purchase. No handling of VTC is needed in this case.

3. Comparing costs

There are many platforms that you can use to buy/sell Vertcoin, and it is only wise to compare charges and be sure what to expect. Every transaction on a token network will attract charges, although this is moderated by the transaction size and amount. Using a crypto option to fund your account also makes the cut, as it could be cheaper. 

You can buy Bitcoin and use it to fund your account on a platform. In recent times, crypto payments have become more popular for the settlement of transactions, money transfers and overseas remittances. Speed and low cost have worked in favour of some cryptocurrencies in recent years.

4. Safety and security 

Some of the operational highlights of blockchain and cryptocurrencies are rooted in safety methodologies. The use of the hash function, consensus approach, private keys and unique public addresses makes it safer to use Vertcoin. 

Vertcoin as a peer-to-peer decentralised currency is built on blockchain technology. It makes use of an ASIC-resistant, Proof of Work mechanism to mint new coins and encourages miners for the validation of transactions and the security of the network. A decentralised coalition of individuals collectively mining the coin through the use of modern graphics cards helps maintain the blockchain and keep it secure.

5. Can you understand and navigate the platform?

The Vertcoin buyer makes no contact with the blockchain to a great extent. Instead, it is the broker or exchange platform that provides an interface for the investor to trade the coin. In this case, it is important for the trader to review the user dashboard provided by the platform to ensure that it is easy to understand and navigate. Excellent platforms are well laid out with simple prompts that can be followed to buy, sell or trade Vertcoin.

What is the Best Payment Method for Buying Vertcoin?

The best payment method you can use depends on a variety of factors. You might be considering the option with the least fees or the one that is processed faster. So, depending on what your immediate need might be, you should prioritise safety and speed as you decide. 

Buying Vertcoin with PayPal: You can buy Vertcoin with PayPal on quite a number of platforms. PayPal is noted for fast payments and low fees. The only snag is that the service is not available in all countries, and unless the broker accepts payment with PayPal, you cannot use it. At the time of writing, PayPal has enabled payment with leading coins only.

Buying Vertcoin with Cash: Cash transactions are not recommended when you are buying Vertcoin VTC. The reason boils down to safety and the need for trust. When other options are available with fewer constraints, cash payment can be avoided. In some countries, payment via cash deposits is supported at cash points, ATMs and banks. For many crypto traders who are already used to the safety of online payments, this option will be far-fetched.

Buying Vertcoin with Bank Transfer: Bank transfers are trusted and commonly used to buy Vertcoin on many platforms. Most times, investors who make huge fund transfers prefer bank transfers for safety and reliability. While it might lead to up to some delay, you can be sure that the funds will get to the intended account safely. Charges on transactions here are generally minimal except when it is a cross-border payment.

Buying Vertcoin with Credit Cards or Debit Cards: You can buy Vertcoin with a credit or debit card easily. Bank cards are fast and easy to use when buying Vertcoin. On some merchant sites, you might have to provide evidence of ownership of the card in use by supplying your phone number to receive an OTP. This might be a one-time requirement only to guard against fraud. 

What Fees are Involved in Buying Vertcoin?

Transactions attract fees in cryptocurrency trading, and this is also the case in traditional banking except when you are using a premium service that waives such fees. Some crypto platforms also provide fee waivers for a category of users or anyone that uses the platform’s native token, where available, for fee settlement. The common fees charged are shown below.

Transaction Fees: When you buy Vertcoin, the coin is transferred from the wallet of the seller to yours, and on the blockchain, the procedure for getting this done is a service. This service is paid for as workers are involved in the transaction verification and authentication. So, blockchain fees will be charged to complete the transaction. When the platform delivers the requested coin to you, some quantity will be deducted as charges for the service. The transaction fees could also include fees linked to the payment method for the transaction.

Deposit Fees: Some platforms allow free deposits with no charges for bringing funds to the platform. On the other hand, others might apply some fees, which in most cases will be negligible. If you use a local bank transfer, you might not incur any charges either. The cheapest way to buy Vertcoin is using a crypto deposit if supported by your platform.

Withdrawal Fees: What you pay for withdrawal fees depends on the platform’s policy. Some platforms have a fee tariff that is as low as 0.1 percent, and others might be a bit higher. 

Safely Storing Your Vertcoin

You can store Vertcoin using a range of cryptocurrency wallet options. The choice of wallet to use might depend on the crypto type, your trading preferences and availability of storage options. Every coin has a compatible wallet that best stores it. The different wallet types are explained in the next section.

Web Wallet: While trading platforms provide system-built wallets for use by traders, this is not considered safe. Rather, investors are advised to store their tokens privately, away from public platforms. This is practicable if you are not actively trading the tokens. For regular traders, web wallets do count as ease of access rates highly as a reason for its use. To access web wallets, you need a private key, and sometimes, the platform imposes a 2FA requirement so that a passcode sent to your device or mobile phone is needed to authenticate transactions. This reduces the risk of loss of crypto balances and hijacking of accounts in trading platforms. 

Mobile Wallet: Mobile wallets are noted for their ease of use more than anything else. For most people, not having to worry about logging in to a separate device when carrying out transactions is a huge plus for mobile wallets. Vertcoin can be stored in any wallet that is bitcoin compatible, including multi-token wallets. The leading challenge of mobile wallets is the risk of device loss and theft. Other than these, if the device fails, the wallet can be accessed on a new gadget if you have the right credentials. VTC wallet by Coinomi. Edge and Guarda are the common products here.

Desktop Wallet: For wallets that install easily on desktop devices, quite a number of them are available. Electrum and Coinomi are most referenced here. With a desktop wallet, you do not have to bother about the chance of loss to theft since it is hardly accessible. Except when the desktop device is stolen or infected with malware, risk factors are quite a few. A compromised wallet can be reinstalled when the user provides the backup key and access credentials. 

Hardware Wallet: There are a couple of brands that dominate the hardware wallets segment. The leading names are Trezor, Ledger and KeepKey. This wallet class is regarded as the most secure and this is for some noticeable advantages it has. Hardware wallets are hardly in use except when the occasion arises. Since they are hardly ever in use, the risk of loss is slimmer. They are accessible when plugged onto devices and with the right credentials, transactions can be completed.

Wallet Combinations A  review of the Vertcoin homepage shows that there is no recommended wallet combination by the developers. For increased security, holders of a substantial amount of the coin should consider splitting their holdings between a couple of wallets. This will minimise losses if there is a risk to your wallet at any time.

What Other Coins Can I Trade or Use to Buy Vertcoin?

You can buy Vertcoin VTC with Ethereum, Bitcoin, Ripple and Bitcoin Cash on most platforms. This crypto forms the other half of trading pairs in a number of marketplaces. Direct crypto to crypto trading can be really cheap in terms of the transaction cost. While the trading pairs may differ from one platform to the other, they are readily available on most platforms.

What’s the Smallest and Largest Amount of Vertcoin I Can Buy?

You can buy Vertcoin without a limit on most platforms. Since Vertcoin is denominated like Bitcoin, it also has its smallest unit in 8 decimal places. You can buy as much as $1 million or more worth of Vertcoin if you have completed the verification level needed for that value in any marketplace and if the local laws allow it.  You can also buy as low as $10 if your platform supports that in minimum allowable payments. 

Can I Buy Vertcoin Anonymously with no ID? Is it Safe and Legal to Buy Vertcoin?

You can buy Vertcoin safely in most countries of the world, and this is legal. Apart from a few countries like Iran, China, and Russia, crypto trading is legal and supported in more than 100 countries and territories worldwide. There are open marketplaces where you can afford to buy Vertcoin anonymously with no ID, but they are likely to be unregulated and unsafe. 

Will Buying Vertcoin Make Me Money?

VTC has recorded spells of amazing price surges that are on record as high as 2000 times ROI in recent years. While it is not possible to tell the timing for such ROI to be recorded, if you research the price history carefully, you can identify price trends and decide when to buy low. If you are interested in learning more about the price history of VTC, please visit our Vertcoin Price Page.

How to Spend your Vertcoin

Online payment gateways like CoinBank, GoCoin, Bitpay and AlfaCoins accept crypto payments and support merchant sites in processing transactions in digital currencies. A couple of merchant sites accept outright crypto payments as well; with Starbucks making the headlines when it announced such collaboration in the past year. PayPal has also announced its crypto payments initiative recently, allowing users to make payments using four of the leading cryptocurrencies.

How to Sell your Vertcoin

Vertoin can be sold on exchange platforms for fiat or some other cryptocurrency.  If you decide to also trade your Vertcoin for stable currencies during a price dip, you might have no need to withdraw the proceeds. 

For holders of Vertcoin CFDs, your broker can provide you with fiat in its place easily. As financial instruments, CFDs are widely traded around the world.