How to Buy Vechain

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How to Buy VeChain (VET)

The issue of illegal trade is acute in different countries. Consumers do not always reliably establish the authenticity of a product. VeChain is a blockchain platform designed to improve control over supplies and business processes. The project allows you to track the goods from production to receipt by the end-user. The technology implies the digitization of product labeling and the storage of data on the blockchain network. The goal is to improve processes for complex supply chains and enable market participants to operate in a transparent manner.

VeChain (VET) Specifications

The principles distinguish VeChain (VET) coin:

  1. Dual token strategy. In this format, the blockchain ecosystem VET is used as public investment and digital money, and VTHO is used to execute smart contracts and programming. This principle provides a predictable economic model.
  2. Delegation of the commission. The multilateral payment protocol is a model that allows a third party to pay transaction fees. This opens up the possibility for end-users to interact with VeChainThor without ever knowing about it or understanding the concepts of blockchain or cryptocurrencies.
  3. Multitasking transactions. Transferring tokens, creating a smart contract, or storing data on the blockchain can be combined. Multitasking transactions involve lower transaction fees and higher bandwidth than sending each individual record, as Bitcoin or Ethereum do.
  4. VIP180 and VIP181 standards. The first one is based on the ERC-20 Ether, and the second one is based on the ERC-721 NFT. The flammable token module VIP180 is a standard that provides the core functionality within smart contracts. It is a set of APIs that any token follows. The VIP-181 standard provides an option for NFT tokens, which smart contracts are required to follow in the blockchain.

Security

Leading companies and concerns enter into partnership agreements with VeChain. The project works in several directions at once, which allows it to cover the market significantly. The company complies with development plans and implements them on time, corresponding to the roadmap. The stability and success of the technological direction are supported by the concluded and planned contracts. Firms and manufacturers from different industries cooperate with the project, for example:

  • Automotive industry: Audi, BMW, Renault.
  • Logistics: Kuehne & Nagel International AG.
  • Spirits suppliers and manufacturers: Ricci Curbastro, Ruffino Wines, Shanghai Waigaoqiao Direct Imported, West Wind Wines.

It is fair to say that technological advances power cryptocurrency.

Another important factor is the limited issue of coins. The number of tokens in circulation is limited. A significant increase in demand will provoke an increase in the value of the token.

Ways to make Money

You can make a profit on cryptocurrency using traditional methods, as well as providing passive income through staking.

Investments

You can make a profit with this promising token by keeping the coin in your account. The interest from large corporations in the technology, as well as the plans of the developers, may indicate the growth of the asset. Before investing in a project, it is recommended to carefully analyze the dynamics of the market and coins, read reviews of the VeChain cryptocurrency, and familiarize yourself with the forecasts.

Trading

Since the end of February 2021, the VET coin has shown significant volatility. If you successfully enter the trend and buy a coin, you can make money on active trading. To do this, you need to track news channels, thematic communities. The most important thing is to correctly assess and choose the moment to buy. It is not worth purchasing an asset at its peak.

Staking

Another way of passive income is available to token holders. As of June 2021, you can get 5.47% fixed staking on Binance. The principle is based on the freezing of the pool of coins for the operation of the blockchain and the development of the network. Staking is supported by many crypto exchanges, but Binance is more likely to offer better terms.

Where to buy and sell VeChain (VET)

VeChain (VET) cryptocurrency is very popular and promising. Many major trading platforms have added this coin to the listing long ago. Let’s take a look at some of them.

Binance

It is the largest exchange in terms of the number of users and the volume of trade. Verification on the exchange is required. The commission is only 0.1%. They provide input and output to a bank card.

Buying VeChain (VET) on Binance is also possible on the spot market.

To place a trading order on Binance:

  1. Create an account on the exchange and make a deposit to the balance.
  2. Open a trading terminal and search for cryptocurrency pairs with VET.
  3. Click on the required trading pair. Select the type of order under the chart and fill it in, indicating the amount and value.

The advantages of the Binance crypto exchange are:

  • high transaction speed;
  • low commissions and withdrawal limits;
  • the application is translated into most languages ​​of the world;
  • a huge number of cryptocurrencies;
  • high liquidity;
  • availability on both PC and IOS and Android.

Disadvantages of Binance:

  • blocking in many countries of the world;
  • the need to go through KYC / ALM.

Huobi

The China-based cryptocurrency exchange, now based in Seychelles, rightfully bears the title of “Asian Giant” due to the colossal trading volumes and the number of cryptocurrencies available.

In addition to its impressive financial performance, the platform also boasts one of the longest histories of its existence – unlike most cryptocurrency exchanges founded in 2017 on the wave of Bitcoin’s popularity, Huobi was founded in 2013, when the massive use of cryptocurrencies was out of the question.

The main advantages of Huobi are:

  • easy to use the site;
  • a large selection of cryptocurrencies;
  • low commission;
  • good liquidity;
  • round-the-clock support.

The disadvantages of the Huobi site can be considered:

  • minimum deposit $ 50;
  • insufficient amount of training information;
  • hardly suitable for beginners.

Where to store VET

To store currency, you can use the VeChainThor Mobile Wallet service developed by the creators of the project, which is installed on mobile devices with iOS and Android operating systems. Third-party wallets are also available.

Best wallets for VET:

  • Coin Wallet;
  • Quppy Wallet;
  • Ethos;
  • Token Pocket;
  • Huobi Wallet.

 

The future and prospects of VeChain (VET)

The platform is able to solve the pressing problems of our time, to protect consumers and suppliers from fraud and problems in logistics. The project successfully copes with its tasks, continuing to actively conclude contracts with world companies in the field of cargo transportation, automotive industry, and retail. VeChain is a crypto project that has a holistic idea and worthy implementation behind it.

However, there is a threat from the competition between the digital coin market and real companies.

The prospects of the project will be favorably affected by the connection of more users to the platform and its widespread introduction into everyday use.

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