Last update: Jun 6, 2022

How to Buy VeChain (VET)

So you’re looking for a guide on how to buy VeChain. Depending on where you’re located, you’ll have various cryptocurrency exchanges to choose from.

In this guide, we not only cover the top 3 global crypto trading platforms, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

How to Buy VeChain – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a cryptocurrency exchange isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have VeChain of course.

2. Sign up with the cryptocurrency exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger exchanges.

4. Buy VeChain

Now that you have what you need to buy VeChain, head over to the market or buy section of the crypto exchange and buy some VET.

If the crypto exchange doesn’t have any VeChain on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has VeChain first), and trade your Ethereum for VeChain.

Where to Buy VeChain (VET)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell VeChain

1. Sign into the crypto trading platform where you bought VeChain.
2. Move your VeChain to the right place on the crypto exchange. Some exchanges have trading accounts you need to use for buying and selling.
3. Sell VeChain.

 

How to Buy VeChain (VET) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy VeChain in Australia, the process remains the same:

1. Find a cryptocurrency trading platform below.
2. Sign up for an account.
3. Fund your account with AUD.
4. Buy VeChain if it’s available. If the exchange doesn’t have VeChain. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has VeChain), and trade your ETH for VeChain.

If you’d like to know more about the exchanges we recommend, look at our list of the best cryptocurrency exchanges in Australia.

How to Buy VeChain (VET) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy VeChain in Canada, the process remains the same:

1. Find a crypto trading platform below.
2. Sign up for an account.
3. Fund your account with CAD.
4. Buy VeChain if it’s available. If the exchange doesn’t have VeChain. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has VeChain), and trade your ETH for VeChain.

It’s also possible to take a look at our analysis of the top crypto exchanges in Canada for those interested in learning more about which exchanges we like.

How to Buy VeChain (VET) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy VeChain in the UK, the process remains the same:

1. Find a crypto exchange below.
2. Sign up for an account.
3. Fund your account with GBP.
4. Buy VeChain if it’s available. If the exchange doesn’t have VeChain. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has VeChain), and trade your ETH for VeChain.

You can also check out our comparison of the cheapest crypto exchanges in the UK if you’re looking to learn more about which ones we would recommend.

Considering buying VeChain? VET Rundown

VeChain is an enterprise-grade L1 smart contracts platform.

VeChain was founded in 2015 as a private consortium chain. It worked with many enterprises to explore the potential of blockchain. VeChain's transition to public blockchain would be initiated in 2017 using the ERC-20 token VEN. In 2018, VeChain launched a mainnet with their own ticker VET.

VeChain uses distributed governance and Internet of Things technologies to create an ecosystem that solves major data challenges for many global industries, including energy, food and beverage, sustainability and the SDG goals. VeChain harnesses the power of trustless information to build the digital backbone for the fourth industrial revolution. This requires real-time, trustless data sharing among many participants.

To manage and create value based upon its VeChainThor blockchain, the platform uses VET and VTHO tokens. VET is the creator of VTHO and serves as the value store and value transfer medium. VTHO can be used to pay GAS costs. This allows for data writing without the need to spend VET. You can adjust certain variables, such as the amount VTHO needed to service a transaction or the VTHO generation rate, to ensure that costs are stable. These actions require the support of all stakeholders.

VeChain was able to show a massively increased efficiency, traceability, and transparency across supply chains, data trails, and in new types of ecosystems such as those in San Marino that target UN SDGs among others.

VeChain is a company that disrupts traditional business models. Its most prominent work is in supply chain, which has seen little change over the years. Its efforts in providing a trust layer decentralised for multi-party ecosystems have already been rewarded with major successes by high-profile clients and government agencies.

Transparent technology allows for greater security, efficiency, and tracking of all data. It also reduces costs by trustless automation through smart contracts. The digitisation and collaboration it allows is a huge benefit to carbon, supply chain and international logistics, incentivised economies, automobile passports, and many other areas.

VeChain's platform is therefore very appealing to many clients from different industries and clients.

VeChain's official literature notes that its unique proposition lies in its dual-token setup alongside transformative protocols such as 'fee delegation' and it's one-stop 'ToolChain' platform that means crypto-wary companies can pay in fiat for VeChain's Blockchain-as-a-service, while smart contracts handle gas payment costs, ensuring frictionless use of the network, even in strict jurisdictions.

Related:

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