How to Buy VeChain
Some cryptocurrencies are easy to buy, and some others are harder to get.
While blockchain technology continues to advance, new tokens and chains arise on the horizon.
One of these chains is the VeChain ecosystem, which creates a more user-friendly approach to enterprise adoption on the blockchain.
VeChain’s blockchain as a service business model helps to combat market speculation while also changing the way in which a business processes its payments.
That’s why it’s important for experienced and new traders to know how to buy and sell VeChain on their wallets.
In today’s blog post, we are going to provide you with all the information you need about:
- How to buy VeChain on Binance;
- Understanding the VET tokens;
- How to purchase VET using fiat currencies in crypto exchanges.
What is VeChain (VET) and the VeChain Token?
VeChain acts as a semi-decentralized platform designed to improve supply chain management.
It uses the VeChain Token (VE) to provide value to the transactions that take place on the VeChain network.
What’s more, its compatibility with smart contracts and DApps makes acquiring VET a priority for many traders.
It also hosts VTHO tokens, which work simultaneously on the VeChain Thor Blockchain.
It’s a digital asset that can be stored on a VeChain wallet, which is one of the main requirements for purchasing VeChain on a crypto exchange.
Pro Tip: If you use the Coinbase Exchange, then knowing how to Set Price Alerts on Coinbase is a must.
Remember that our posts should not be taken as investment advice - always perform independent research about any coin’s price (and their market capitalization) before you start trading with it.
Buying VeChain on Cryptocurrency Exchanges
Although storing your VET coins on a traditional digital wallet, we highly recommend you do it on a cold wallet or hardware wallet.
That way, your crypto assets will be safe and sound since you will have the complete power of their private keys, thanks to their cold storage features.
In any case, before you move assets to a third-party wallet or hardware wallets, you first need to buy coins.
That’s why it’s important to mention that you won’t be able to purchase VET on each trading platform out there.
Can You Buy VeChain on Coinbase?
No, you can’t. You can Buy Dogecoin on Coinbase and a number of a different cryptocurrency, but not VET.
In this case, you need to go to other top exchanges since VET is not supported on Coinbase.
You can still check VET’s price chart on Coinbase, though, but you can’t purchase it at all.
Our recommendation here is to use the world’s largest cryptocurrency exchange - Binance.
Although other platforms also work for this purpose, we are quite aware of Binance advantages over them.
For instance, low fees and quick transactions take place on the same exchange without major inconveniences.
Also, placing a sell order on Binance is as easy as it gets, so you should not have major problems if you want to sell your VET after purchasing it.
How to Buy VeChain (VET) on Binance
It happens to some users on the crypto community that they want to purchase a coin on Coinbase, and they need to go to Binance instead (see our Buy XRP on Coinbase blog post).
Since you can’t buy VeChain on Coinbase, Binance ranks itself as your best alternative. At this point, you should have your Binance account set up and ready to go.
Without further ado, let’s purchase VeChain and store it on your crypto wallet in no time!
Read Also: Whenever you perform an operation in the blockchain, a transaction ID gets generated.
Learn how to check the Transaction Hash on Coinbase by reading the blog post we have written about this matter!
Step 1: Log In to Binance Exchange Platform
Firstly, log in to Binance, and get your account ready to go.
As you know, since Binance is a centralized platform, it will ask you to complete a Know Your Customer verification process.
This is imperative to do on the exchange if you want to add any fiat payment method.
Of course, you can also trade one cryptocurrency for another, but verification will continue to be a must.
Step 2: Select “Buy Crypto”
Go to the “ Buy Crypto’’ page on Binance. There, you are able to swap or buy your assets for others.
Step 3: Look for VeChain Tokens
Now, look for VeChain, VET. The VeChain / USD trading pair should quickly appear on the screen.
Remember that you can also swap crypto for VET.
For instance, the BTC / VET trading pair is available on your Binance account.
Nonetheless, for practical purposes, we are going to focus on buying VeChain with fiat currency.
Step 4: Select Credit or Debit Card
After you select VeChain, you need to decide the amount of tokens you want to buy. You have two options here:
- Deposit funds into your Binance profile by making a bank transfer directly from your bank account;
- Directly purchase coins by linking credit or debit cards to the platform.
Step 5: Click on “Buy Vet”
After you have linked your preferred payment methods to your profile, you can now buy VeChain. Click on “Buy,” and a screen with all the fees will appear.
Confirm the operation, and there you go - you are now a VET owner! Remember that you can keep it on Binance, and move it to an external wallet.
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FAQ
Can I Store VeChain on Coinbase?
No. Coinbase does not support VeChain by any means. As a consequence, you need to find another platform where you can indeed buy and store this token.
Otherwise, you won’t be able to use it at all.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.