Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has VeChain, and is trustworthy!
You can find our top 3 exchanges for buying VeChain here, alternatively you can also check our comparison of the best Australian crypto trading platforms if you’re generally interested in seeing which exchanges work for Australians.
2. Sign up with the crypto exchange
Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.
3. Fund your account
The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.
4. Buy VeChain
And of course, the final step is to find VeChain on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.
Where to Buy VeChain (VET)
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How to Sell VeChain
- Sign into the exchange
- Find where you stored your VeChain, either on a hardware wallet or on the exchange.
- Transfer your VeChain to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell VeChain.
Considerations when looking to buy VeChain.
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. It is most well-known for its work in supply chains, which has seen little change over the past decades. 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.