If you want a pretty straightforward answer to where to buy Vechain it would be a major crypto exchange like Binance where you can save 10% on any kind of fee.
However, besides the step-by-step buying guide, I have addressed several important topics you need to know before investing in Vechain (VET).
Let’s briefly overview these important aspects and then learn how to buy Vechain.
- 1 What is Vechain (VET)?
- 2 Team Behind Vechain
- 3 Vechain Price Prediction
- 4 Is VeChain a Good Investment?
- 5 How and Where to buy Vechain
- 6 Best Vechain Wallets
- 7 F.A.Q – Frequently Asked Questions
- 8 Final Words
What is Vechain (VET)?
VeChain is a blockchain platform that simplifies the management of complex supply chains.
Its goal is to provide a secure and reliable platform for storing and accessing supply chain information that enables businesses to create a trust-free and distributed ecosystem.
There are two tokens on the Vechain platform: the VeChain token (VET) and the Vechain Thor Energy (VTHO).
VET transfers value across its network while VTHO is used as energy to power transactions for smart contracts.
This specific platform enables users to disintermediate silos of information. As well as, become a leader in the supply chain management industry.
Team Behind Vechain
Vechain was founded in 2015 by former Louis Vuitton China’s chief information officer Sunny Lu.
The governance system of Vechain is an integral part of its ecosystem and its goal is to provide a level of transparency and security that fits with the identity they envision for the blockchain.
There are other sophisticated team members behind Vechain, such as Jay Zhang, Chief finance officer who boasts of over 14 years of experience working for both Deloitte and PwC as the senior manager.
Vechain’s team is full of experienced professionals who have much passion for this project. This is one of the reasons that make Vechain a solid investment.
You can view the list of team members here.
Vechain Price Prediction
In VeChain price prediction for 2021, we must use statistics, RSI, and various price patterns to analyze the future movement of the cryptocurrency.
At the time of writing, according to CoinGeko, the Vechain is being traded at $0.126121with a 24-hour trading volume of $835 155 002, Vet has decreased by 5.02% in the last 24 hours.
Currently Vet trades in crypto exchanges such as Binance, FTX, Huboi global, Tokocrypto, and Upbit.
If we take a look at the daily time frame chart, VET can reach $0.25-$0.30 in case the bull trend continues. Or if the price of the VET breaks the given resistance level of $0.15, it will fill to the next support line which makes the trend of VET breakout based.
We have two resistance levels $0.15, $0.25, and two support lines $0.11, $0.09.
In the first days of May 2021, Vechain had a market cap of $13,5B which put the token in the top 20 performers.
Because of that experts from different forecasts are predicting that VeChain will reach $0.60 or more, but it is more connected to long-term strategy than an immediate gain by day trading.
In conclusion, with the upgrades and advancements on the VET ecosystem, it could rise and reach $0.25 soon and might also reach $0.70 which makes it a noble coin to contribute to your portfolio.
Is VeChain a Good Investment?
First, we should know that VeChain is among the pioneers of the enterprise-level clientele facing blockchain networks.
The aim and the goal of this very highly experienced development team of VeChain is to use Blockchain technology to provide efficient product lifecycle management and supply chain.
It will make it easy for companies to bring advancements to their business and supply chain processes.
Today the supply chain industry has issues like inappropriately distributed information.
Because it relies on a centralized source of data in a severely segmented industry result in the delay of data communication.
VeChain protocol steps in to keep track of an enormous amount of information in their supply chain.
Talking about decentralization, there is something special about the VeChain network in the sense that its protocol isn’t fully decentralized.
It was clarified by the project creators in the very beginning that they are aiming to perform at their best of both centralized finance(CeFi) and (Defi) to offer businesses high-speed transactions, transparent flow of information, and efficiency.
Considering bringing down the cost by helping trust-free automation considering bringing down the cost by helping of trust-free automation and easy product tracking, Vechain is in fact a solid investment.
Because of the current strong bull run going on in the market, most of the tokens have increased tremendously in a short time.
How and Where to buy Vechain
There are too many platforms where you can start trading immediately after getting registered but not every one of them has Vechain.
Create an account on a cryptocurrency exchange.
Depending on the platform you choose, VET can be traded with different currencies such as USD, Bitcoin (BTC), Ethereum (ETH).
After registering an account you have to set up two-factor authentication for another level of security.
Deposit funds into your account
You’ll need a wallet to hold your VET and VTHO tokens, for instance, Binance has its own Hot Wallet where you can store both tokens without owning a cold wallet which never touches the internet and keeps your crypto more secure.
When you deposit funds on your wallet you can choose different options when buying any currency, in this case, VeChain.
You can either buy instantly with the price that the market suggests at the very moment, or you can set the limit for any token.
If you believe that specific token will decrease a bit in a short time, set the limit where you think the price will hit and the platform you’re on will make an automatic purchase when the token reaches the indicated price.
Let’s go step-by-step on registering and buying VeChain. For the example, I will be using Binance (platform choice is up to you).
- Step 1 – Open an account and go through two-factor authentication and verifying your identity to be able to trade.
- Step 2 – After we have our identities verified, we should deposit the funds to buy any crypto on the given platform, as you see it is possible to open the selection and choose any crypto to buy but remember, there are some tokens that can not be traded directly with USD, so you need to trade with BTC, ETH or BNB.
- Step 3 – After depositing funds you will be able to buy Tokens, in this case, VET. In this picture, you see 2 options when buying or selling VET. as you see there is “Limit” chosen which means you might believe that VET might decrease a bit so you can indicate a rational price for buying VET or choose another option and buy it immediately, for that you have to choose button that says the “Market“, right next to limit and become the owner of VET instantly. The same goes when selling the tokens, you can set automatic sell, if you bought some token at any price and you think it will increase in a given period of time, set the sell limit and the platform will be responsible to sell the coin when it hits the price you indicate.
Best Vechain Wallets
Before we name one of the best wallets in the market, we should know that there are two types of wallets: Hardware wallet and Software wallet.
The wallet is a hardware solution that will store your Bitcoin, Ethereum, or any other altcoins.
It is meant to be one of the safest storing options for your crypto portfolio.
This wallet has been a mainstay of the crypto community with everyone from the average beginner to experience investor recommending it as one of the best storage solutions.
For instance, Ledger Nano X is a Hardware wallet device and is considered to be the best by overall performance, safety, and simplicity to use.
Ledger Nano X will cost you $119 and supports Vechain including more than 1500 other coins.
Another great alternative to Ledger will be Trezor T just for $99, which supports Vechain and 1631 other coins.
If you are interested in purchasing a hardware wallet, read our comparison of these two first.
It allows users to access their Ethereum wallet through a browser extension or mobile app to interact with decentralized applications.
F.A.Q – Frequently Asked Questions
Can you buy VeChain on Coinbase?
The VeChain token, VET, is not currently available on Coinbase or Coinbase Pro.
Coinbase adds new coins over time, so it is possible that Coinbase will offer VET in the future.
However, for the time being, you’ll need to rely on a different exchange that supports VET.
Will VeChain Reach $1?
According to the long forecast, by 2025 which will give investors 800% gain on their investment by then.
It is certain that the team behind VeChain has a long-term vision for VET reaching $1.00. So yes, VET is a valuable addition to your portfolio.
Is it Possible for Vechain to Crash?
As mentioned, VeChain has a strong purpose and use case, since it is targeting the supply chain sector.
Besides that, it has strategic partnerships with different institutions in China which creates a strong base for the given token and makes the bursting bubble scenario almost impossible.
In conclusion, the token is meant to continue to increase in price where its team’s strong vision will guarantee that its value will continue to soar.
Can You Buy VeChain on Binance US?
It is possible to buy Vechain directly on Binance US.
If you use our link for registration you will also save 10% on all trading fees.
Is the VeChain wallet safe?
VeChainThor wallet for desktop computers was released sometime after the main net launch and it brought the much-sought-after windows/Mac OS capabilities to storing Vet Tokens. The wallet is stored on Github under the name Thor-sync and is currently still in development.
The team itself claims that the wallet is “experimental software” that should be used at your own risk; still, the community feels it’s decent enough to access the VeChain Blockchain and store, send or receive crypto.
Where is the best place to stake VeChain?
What is VeChain staking?
It is a method by which you earn a passive income on cryptocurrency that you already own by staking them on the blockchain. Staking VeChain is so popular, so where exactly can we stake VeChain?
- Crypto.com – is one of the fastest-growing exchanges with the most coins available for staking.
- Binance – world’s most popular crypto exchange with tiny fees
- Ledger Nano – one of the most secure hardware wallets for storing your tokens.
- Trust Wallet – software wallet that can store private keys on your mobile which allows you to stake 14 coins.
- Exodus – another software wallet allowing you to store 30+ coins.
If it is still a little bit unclear why we should stake VeChain we must know that you earn while you sleep. As we know VeChain has built an entire on-chain economy which is based upon two coins VET & VTHO, so while staking VeChain all the listed platforms offer us the different estimated returns on investment and different fees for staking.
Considering all the topics and questions that have been addressed in this article it can be proudly said that Vechain is a solid project with a reliable team behind it.
It might be a bit of a hassle to buy Vechain, especially in the US. However, make sure to try the top 3 options(Binance, Crypto.com, BITFINEX) to see which crypto exchange works best for you.
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