How to Buy Vechain (VET) – A Simple Walkthrough Guide

4.6K

This article will explain a simple walkthrough of how to buy Vechain. This project has been ripe with popularity, with many mainstream influencers currently jumping onboard. Not to mention, Vechain has an attractive use case that we will discuss in detail below. In this article, we’ll cover exchanges where you can easily buy Vechain and give you step-by-step instructions to make it as quick as possible! We’ll also give you some tips and tricks on how to avoid high exchange fees.

This step-by-step guide was created to help you learn how to buy Vechain safely and avoid some exchanges’ unnecessary transaction fees.

Disclosure: No content in this article should be taken as financial advice. Investing can be risky, so it is recommended that you consult with your accounting, legal, and tax advisors before engaging in any kind of transaction. 

What is Vechain (VET)?

Vechain focuses on logistics and supply chain management, where it uses blockchain for everything from inventory, shipping tracking, and quality control. This technology allows Vechain to be used for anything from luxury goods to automobiles. Vechain is an exciting technology due to the promising use-case as well as partnerships it has acquired. PricewaterhouseCoopers has been included in Vechain’s incubation program, as well as Renault and BMW. The company has also partnered with LVMH, where they will create a tracking system to authenticate luxury goods.

How Vechain works is simple. Two tokens make up the Vechain system, the Vechain Token (VET) and the VeThor Token (VTHO). The VET token is what you buy on the exchanges. This two token system allows network fees to be separate from the volatility of the primary VET token.

Vechain is based on a Proof of Authority (PoA) consensus, which requires nodes to be authorized first. The nodes also don’t use a considerable amount of resources, leveraging less bandwidth with efficiency. 

As of this time of writing, VET is trading around $0.11. Because of the low investment cost and promising technology, it is on many investors’ lists as a top altcoin to invest in.

How to Buy Vechain on Binance

Step 1: Create and verify your Binance Account.

Use the links below to save up to 40% on trading fees when using Binance to purchase VET.

If you are a U.S. resident, create your account here:

If you live outside the U.S., click here to create your account:

Go through the walkthrough steps to set up your account. If you live in the U.S., you will be required to verify your identity to buy Vechain. But don’t worry – it is a quick and simple process.

Step 2: Deposit Fiat Into Your Account 

You will need to connect your bank account to buy VET with a debit/credit card. You will be able to purchase VET with your local currency. We highly recommend purchasing through connecting a bank account to avoid high fees!

Simply navigate to “Buy Crypto” on the top menu bar and choose one of the following (these options may differ depending on if you are using Binance.US or Binance):

• Bank Transfer (recommended for beginners + lowest fee)
• Credit/Debit Card (recommended for beginners)
• P2P Trading
• Third-Party Payment

Once you’ve chosen your preferred way to transfer fiat to your account, you’ll simply follow the on-screen instructions and move to the next step.

Step 3: Convert Fiat to USDT

Great – you’ve successfully deposited fiat into your account! You will need to convert your fiat (i.e. USD, EUR, etc.) to cryptocurrency. We recommend buying USDT with your fiat. USDT is simply a token that is equivalent to the U.S. dollar. It makes it simple to purchase currencies like Vechain and other coins in the future!

Once you purchase USDT, you’re ready to start buying Vechain!

Step 4: Buy Vechain

Now, the moment we’ve all been waiting for – buying Vechain! Simply navigate to the “Trade” option on the top menu bar and choose an option:

• Convert (best for beginners)
• Classic
• Advanced

If you choose “Convert,” you will simply type in the amount of USDT you would like to convert to VET. Mission accomplished! You now have Vechain!

How to Buy Vechain on Kucoin

Step 1: Create and verify your Kucoin Account.

Create an account for Kucoin here. By signing up with the link below, you will receive 5 coins of a random cryptocurrency.

Go through the guided steps to set up your account. Kucoin will require you to verify your identity to buy Vechain. It is a quick and simple process.

Step 2: Fund Your Account 

Once your account has been verified, you will need to put fiat into your account (USD, EUR, etc). Simply click on “Buy Crypto” on the top left corner of the screen and choose a payment option. Kuccoin supports Debit/Credit card purchases, P2P, and Bank Transfers. Go through the guided steps for your preferred payment option and you’re well on your way to purchasing Vechain!

We recommend connecting a bank account for the lowest fees. A credit or debit card can also be used for quick transactions.

Step 3: Finish Buying Vechain (VET)

When inputting your payment info, you’ll have the option to choose what coin you’d like to buy. Simply choose VET and you’re all finished!

Frequently Asked Questions