Home » Guide A comprehensive guide on how to Buy VeChain (VET) 2020 0 A comprehensive guide on how to Buy VeChain (VET) 2020

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Are you thinking about buying some VeChain, or the cryptocurrency VET? If you are trying to find out what are your options for how to buy VeChain then this guide will be perfect for you!

Like many others in the VeChain community, we believe that there is a whole lot of potential in VeChain is a blockchain startup, and also in their main cryptocurrency VET. The current VeChain price might indicate that there is a lot of upside to it!

We are saying the main cryptocurrency because in fact there are two cryptocurrencies belonging to VeChain. One is the main coin (VET) and the other is a token called VTHO, or VeThor Token.

The context of VET and VTHO is that the former produces the latter. Similar to NEO and Gas. By storing it in a wallet that supports this generative function. And VTHO is used to pay for transactions and clauses on the VeChain blockchain.

And the former (VET) is more designed to be a store of value and to transfer value on the blockchain.

Quick jump to either of the main steps in our guide to buying VeChain:

Part 1: Get a VeChain wallet (Official mobile wallet or Ledger is recommended) Part 2: Buy VeChain —> Fiat Deposit (at Coinbase or OceanEx) —> Buy VET (at Binance or OceanEx) / OR at an online crypto broker (Coinswitch) Part 3: Send your VETs to the wallet you went for and that’s it!

What is VeChain and why is there such a big interest?

It is a complete smart contract-enabled blockchain, with its own dApp platform, additionally like Ethereum they also are an ICO platform – where the future’s new decentralised solutions can take their first steps via the VeChain blockchain.

At the core of VeChain’s solutions and use cases a few things shine extra bright:

Their new innovative features – such as the Multi-task Transaction (MTT) features that make it possible to batch together a group of transactions. Multi-party Payment (MPP) A fee delegation solution where one or more users can pay for data and transaction in a flexible way

– such as the Multi-task Transaction (MTT) features that make it possible to batch together a group of transactions. Multi-party Payment (MPP) A fee delegation solution where one or more users can pay for data and transaction in a flexible way Their wide range of use cases – for example, Digital carbon ecosystem (carbon footprint, reduction, management and incentivisation), supply chain solutions (smart product tracking, shipping surveilling, tags and chips, authentication, shipping, and logistics), automotive (digital passports – product management and lifecycle, 3rd-party liaison) and much more

– for example, Digital carbon ecosystem (carbon footprint, reduction, management and incentivisation), supply chain solutions (smart product tracking, shipping surveilling, tags and chips, authentication, shipping, and logistics), automotive (digital passports – product management and lifecycle, 3rd-party liaison) and much more Their strong portfolio of partnerships – DNV-GL, BMW, Oxford University, PWC, San Marino Gov (read more about this partnership), and many more

Learn more about solutions, features, and partnerships here.

Now that you know more about what all the fuss is about when it comes to investment interest in VeChain. But also a bit more what their solutions and offer are we can move on to the more interesting question that we are focusing this guide on.

Where to buy VeChain and where to store your VETs

How to buy VeChain – using a range of different payment methods, cryptocurrency exchanges, and brokers.

We want to cover as many different options as possible. And make it clear what each option’s advantages and disadvantages are.

So that you can confidently make the decision by yourself, knowing which methods fits best for you!

The steps of buying VeChain should be:

Part 1: Get a VeChain wallet (Official mobile wallet or Ledger is recommended) Part 2: Buy VeChain at a secure cryptocurrency exchange (Coinbase + Binance/OceanEx) or an online crypto broker (Coinswitch) Part 3: Send your VETs to the wallet you went for and that’s it!

Part 1 – Get a VeChain wallet

The first part of this journey to buying VET is to decide on which wallet you want to use for storing your VeChain coins.

VeChain has its own blockchain and native cryptocurrency. So it needs to be stored at a compatible VeChain wallet. Therefore there aren’t as many options as for Bitcoin, Ethereum or Litecoin.

Here below we will talk about the two main options that you have for storing your VET cryptocurrencies.

Part 1 – Official Mobile Wallet

The first option and definitely one that we recommend highly is that you go for the official wallet created by the VeChain team.

It is a mobile wallet. Available for both iOS and Android. It is a very slick and modern crypto wallet.

Packed with interesting features and connected services. For example:

Integrated portfolio for all coins and tokens (VET, VTHO, DBET, TIC, JUR, etc)

Economic and X-node integration – collect your rewards and VTHOs easily

VeVote (the decentralised governance function of VeChain) is fully integrated

Vexcange – a 3rd party service where you can easily convert VET to VTHO

VeChain’s own forum, and many more 3rd party apps and other features

And it is also a very secure wallet:

You have your own private keys to unlock it (24-word seed)

There is added fingerprint option for extra protection

And a personal password

Download the official VeChain wallet here:

Download the wallet for iOS here

Download the wallet for Android here

Part 1 – Ledger wallet

The second recommended option is that you use one of the secure hardware wallets from Ledger to securely store your VETs.

You can use both the Ledger Nano S or the Ledger Nano X (click on either of those two links to learn more about each Ledger wallet)!

Both of them are secure hardware wallets which comes with a lot of added security benefits. A cryptocurrency hardware wallet is definitely still one of the most secure wallet options you could go for.

And the same goes for when storing your VETs.

The steps of storing your VETs on a Ledger device are as following:

Step 1 buy a Ledger wallet

Buy the Ledger wallets from the official webshop! This is important as other sites might sell you false products! So only use the official shop

You can click on this link to buy a Ledger wallet.

Step 2 Install the official Ledger Live application

The next step when the Ledger device has arrived in the post is to open it and then install the wallet manager application. Which is called Ledger Live!

It is available for both desktop () and mobile ().

You need to use Ledger Live for installing wallet applications (so that you can store coins and tokens on it)

And also to send, receive crypto and check your portfolio balance

Click on this link to download and install Ledger Live

Step 3 – Install the VeChain app on your Ledger device

Finally, we need to install the VeChain application via Ledger Live to store our VETs on our Ledger devices.

I will show the steps on how to do it on a desktop but the steps will be very similar on mobile.

When you have installed Ledger Live and connected your device to your computer/mobile you should head over to the Manager tab in the application.

And then you find VeChain in the app catalog.

Now install the app.

When the app is installed you will get a notification and see on your Ledger device’s screen that you have successfully added the VeChain app!

Now you can use the Ledger device for VeChain. You obviously need to add some VET on it also!

So now continue reading this guide for further instructions on how to buy VeChain!

Find additional support on installing VeChain and using it with your Ledger devices here

Part 2 – Buy First BTC/ETH at Coinbase and then VET at Binance/OceanEx

The first option that we give you for buying VeChain is to go through first a reputable cryptocurrency exchange in which you can deposit money from your bank account. Which has the advantage of reducing your overall fees with a lot.

And the one that we recommend in this guide is to use Coinbase

And then move on to using another cryptocurrency exchange which lists VET (not all do).

And for buying VeChain (VET) at a cryptocurrency exchange we recommend these two options – Binance or OceanEx

Follow the step by step guide for buying VET via first Coinbase and then either Binance or OceanEx here below (if you already own some BTC or ETH then you could skip the Coinbase step and move on directly to the next step which is to buy VET at Binance/OceanEx.

Step 1 – Buy BTH/ETH Coinbase

Buy Bitcoin or Ether at Coinbase. If you don’t already own some BTC or ETH (the most popular cryptocurrencies and common trading pair base cryptos) then you need to buy them.

If you buy some BTC/ETH via for example Coinbase and a bank transfer (wire transfer) you will save a lot on fees. And it really isn’t that complicated!

First, go to www.coinbase.com and create a new account with them, and then log in (use that link to get $10 worth of BTC for free when buying for at least $100).

When you are logged in you need to link your bank account with Coinbase.

Go to Settings and Linked account to do so! When it is done you can make a bank transfer to your Coinbase account so that you can, later on, buy ETH or BTC!

You can also buy BTC or ETH directly with your card at Coinbase. But this costs more in fees and might have a bit worse market rates.

When you have deposited funds and they are in your Coinbase account you can move on to buying some BTC or ETH.

You can either do that directly via Coinbase or use their other service called Coinbase Pro. The latter saves on fees (learn more about Coinbase and Coinbase Pro’s differences here).

If you want to use Coinbase to buy Bitcoin or Ether follow these steps:

Go to the Dashboard and select Bitcoin or Ethereum Select your USD, EUR, GBP wallet and click on buy Done!

If you want to use Coinbase Pro after your funds have been deposited, then go to pro.coinbase.com and follow these steps:

Go to your wallet at Coinbase Pro Click on deposit Select the currency and the amount Now buy BTC or ETH with the Fiat currency (USD, EUR, GBP) Done!

Now that you have completed this step and bought yourself some Bitcoin or Ether you are ready to move on to the next step. Which is to register an account at for example Binance a very popular cryptocurrency exchange or the new and VeChain associated OceanEx!

Step 2 – Sign up for Binance/OceanEx

Register an account with either Binance or OceanEX. Either of those two options is very good, so it is up to you. But if you plan to buy additional cryptocurrencies besides VeChain then we recommend using Binance (at this stage in time)!

But as we said above OceanEx is strongly associated with VeChain and is a trusted partner with added benefits for the VeChain users:

Such as linking your X-nodes

Easily collecting of rewards and VTHO generation

To register an account with Binance follow these steps:

Go to www.binance.com Sign up via Register Add your personal details and email address Confirm the email Add 2F-Authentication Done!

To register an account with OceanEx follow these steps:

Head over to oceanex.pro Click on Sign up Enter your information email Verify your email Confirm the email Add 2F-Authentication Done!

When you are done with this step and you have registered at either Binance or OceanEx you can move on to the next step! Which is to send your BTC or ETH to either of the two exchanges.

Step 3 – Send BTC/ETH to Binance/OceanEx

So to send BTC/ETH to either Binance or OceanEx we first need to find our Bitcoin or Ethereum wallet addresses.

So at Coinbase you either bought Bitcoin or Ethereum. Depending on which determines of course which wallet address you need to find at Binance or OceanEx.

To find your Bitcoin or Ethereum address at Binance follow these steps:

Go to www.binance.com and log in Click on ‘Wallet‘ and ‘Exchange wallet‘ – then find BTC or ETH in the list and click on ‘Deposit‘ You will then see your BTC or ETH address. Copy this and go back to your Coinbase account and send your BTC/ETH to Binance It is very important that you paste in the address correctly otherwise you risk losing it

To find your Bitcoin or Ether address at OceanEx follow these steps:

Go to oceanex.pro and log in Go to funds and deposit and select BTC or ETH Copy BTC or ETH address and go back to Coinbase

Step 4 – Buy some VET

Now finally we can buy ourselves some VET! This is the most exciting part of this guide. As we are now about to invest in some VeChain and hopefully become very happy investors in time.

So to buy VET at Binance follow these steps:

Go to www.binance.com and log in Click on Exchange and Basic Find either VET/BTC or VET/ETH trading pairs Select the amount you want to buy for and the price you want to pay Click on Buy VET Done!

And to buy VET at OceanEx follow these steps:

Head over to oceanex.pro and log in Click on exchange and find the right trading pairs – either VET/BTC or VET/ETH Select the amount and price and then Buy VET Done!

That is it! Now you are the lucky owner of some VET and you can now move on to the final step which is to send your VETs to a safe VeChain wallet!

This is how the trading view looks for VET and ETH trading pair.

Part – Deposit Fiat (USD) to OceanEx and buy VET directly

Recently OceanEx has added the possibility for their users to deposit Fiat money (USD) from their bank accounts directly to the exchange (learn more about it here).

This way you could skip the Coinbase part and go directly to OceanEx for depositing funds from your bank and then buy VET at OceanEx also!

In order to deposit funds from your bank to OceanEx you need to:

Complete the KYC part – the intention of your deposit and where the money is coming from

Add additional personal details, proof of identity and home address

Follow these steps to deposit funds from your bank to your cryptocurrency exchange account:

First, you need to verify your identity – Log in at oceanex.pro and then go to your account and Verification Fill in your personal details and then upload a passport photo and a selfie with a handwritten note and also something for your proof of residence (utility bill, etc) Hit submit – then the team will review your application and if approved you will be able to deposit funds within 1-2 day

And when approved you can move on to the next step which is to deposit funds from your bank account – follow these steps to do so:

Log in at OceanEx and click on Wallet -> Deposit -> Fiat Deposit Now OceanEx will show you the information about where to send your funds to – also very important that you use the reference number/memo so that they can detect your transaction (also important to have it matching name of your bank account with your fiat account with OceanEx) Enter the deposit amount and then finish the transaction from your bank It might take 1-7 days to complete the transaction and for it to show up in your account When it has arrived go to your Wallet and Balance to find your USD funds in there Now the deposit steps are complete and you can move on to the next part of this process

And after you have deposited funds to OceanEx from your bank you can follow these steps to buy VET from the exchange:

Head over to oceanex.pro and login click on exchange and find the trading pair of USD and USDT (Tether stablecoin) and trade your USD to USDT After that, the next step is to trade your USDT for VET so find the VET/USDT trading pair in the exchange menu And now the remaining thing to do is to simply buy VET Done!

That was the process of buying VET at OceanEx by using a bank transfer and then buy some USDT and then buy VeChain (VET)!

Part 2 – Buy VeChain quickly with Coinswitch

If you value time and efficiency over other things then these below options might be perfect for you when you are looking to buy VET coin.

So here we will go through the instant and quick-buy option (using, for example, your credit card or debit card to buy VET

The first option is to use Coinswitch and buy some VET with your card.

You can buy VET with your credit card or debit card via Coinswitch and their partner Indacoin. You can buy some VET with your card by using either USD, RUB or AUD and Indacoin.

See the step by step guide to buying VeChain with Coinswitch here below.

Step 1 – Select VET and the Fiat currency

Head over to www.coinswitch.co and put in the Fiat currency (USD, AUD, etc) and the amount and that you want to buy VET. (Get $5 for free when buying for at least $100 with that link)

Step 2 – Select Indacoin

Select Indacoin as your option and click on ‘Exchange with Indacoin’

Step 3 – Enter your VET wallet address

Enter your VeChain wallet address – click on agree with the terms and then ‘Next‘

If you don’t have one you can create one with the official mobile wallet iOS and Android (link here), use a VeChain supported-exchange (find alternatives here), use the Ledger wallets – learn more about the wallet options here below.

Step 4 Complete the purchase at Indacoin

Acknowledge that you will need to pay with your VISA or Mastercard and then you will be redirected to Indacoin’s website to complete the purchase. And then the VETs will be sent to the address you gave in about 30 minutes after the purchase has been completed.

What is good and bad with using Coinswitch to buy VET?

Ok to help you understand if you should use Coinswitch or not we will summarise some of the positives and negatives of using it:

Positives:

Very easy steps to complete the VET purchase

Instant-buy with your card no sign-up processes

Possibility of limited KYC and more anonymous transaction

Negatives:

Slightly higher fees with Coinswitch (fairly low fee) fee of 0% to 0.49% and then Indacoin’s fee of 4%

and then Indacoin’s fee of 4% Very poor market rates – sometimes the price difference can be 30%

Part 3 – Send VETs to the Ledger or official VeChain wallet

And now we are nearing the end of this very detailed guide on how to buy VeChain and also where to store your VETs!

The final step is to go either Binance or OceanEx to send your VETs over to the wallet that you went for! Either, the:

Ledger wallet

Or the official mobile wallet from VeChain

If you bought via VeChain via Coinswitch then you should have already used either of those wallets and entered the VET address as you were buying it!

So follow these steps for how to send VET to your VeChain wallet!

These are the steps on how to send VET from Binance to your VeChain wallet:

So again head over to www.binance.com and log in to your account Click on Wallet and Exchange wallet and then find VET in the list Click on withdraw and enter your VET address, amount and hit submit Verify your 2F-Authentication and email confirmation Done!

So if you had bought VET from Binance, and already now secured as safe wallet for storing your VETs at then you are done at this stage.

We hope that this guide was helpful!

And here are the steps on how to send VET from OceanEx to your VeChain wallet:

Ok, login to your account over at oceanex.pro Click on Funds then Withdraw and find VET in the list Enter your VET address and amount and hit submit Verify 2F-A (if activated), confirm the email Done!

Now if you bought VET via OceanEx then this is the end of this guide to buying VeChain. We hope that the guide was helpful!

Additional useful VeChain sources:

Learn more about VeChain, their solutions, use cases and the team at their website

Learn more about VeChain in our longer review of it here.

Check out VeChain Reddit page for talks with the community here

And check out VeChain 101 by Ben Yorke which is a useful V-focused blog here

Find additional exchanges and best prices for VET here

Conclusion

Now, this is the end of this guide on how to buy VeChain (VET) coins. We do hope it was helpful!

If you like many others think that with the current VeChain price it makes an interesting investment opportunity. Then follow these steps to easily get yourself some VETs!

It is quite an extensive guide as we wanted to cover a couple of different options for every part. So that you don’t need to read several guides on this topic to find all the information that you need.

We have covered everything from:

What is VeChain and why is it interesting so many investors To the process of buying VET, including finding a good and reliable wallet for storing it!

If there is anything else regarding to VeChain, VET or VTHO that you might be interested in then let us know!

Also if you have any questions about the steps explained here in this guide then let us know and we will get back to you!

Relevant guides: