Over the years, cryptocurrency has grown so wide that almost everyone knows about it, and several million want to buy it.
However, after the introduction of Bitcoin by Satoshi Nakamoto in 2009, several other coins with different use cases have followed. One of the most useful and popular coins is VeChain Token (VET).
Introduced in 2015, VeChain (VET) is a versatile and smart contract platform that uses the Internet of Things to create a secured and accessible platform for data manipulation.
The platform is especially useful for industrial applications ranging from medical, food, and energy to sharing real-time data between users and participants.
There are several ways to buy VeChain in the UK. Many people believe every exchange is suitable for trading VeChain. However, this is not the case in reality.
Although there are different ways, only a few of the best crypto exchanges UK are suitable and reliable.
Are you looking to buy VeChain in the UK, but have no idea how to do that? This article will give you an overview and a comprehensive guide on easily buying VeChain in the UK.
Overview of How to Buy VeChain in the UK
There are a lot of exchanges that offer crypto trading services, especially with VeChain. However, the most straightforward way to buy VeChain is via Binance. If you are starting on Binance as a newbie, you need to register an account first.
Binance is the world’s largest and most reliable crypto exchange. The reason for this is that many crypto holders and investors prefer the platform due to the wide range of services it offers.
The exchange accrues the largest daily trading volume. It also provides a variety of platforms for both newbies and experienced users.
Using Binance is the easiest way to buy VeChain in the UK. It has several VET pairs, including GBP; therefore, UK users can buy VeChain with their local currency or other cryptocurrencies like BTC and ETH.
To buy VeChain quickly with other cryptocurrencies, you need to follow the steps below:
- Visit Binance and register a new account. Make sure to verify your identity after registration.
- Go to the spot section and deposit any corresponding pair of VET. They include BTC, BNB, ETH, and USDT. Alternatively, you can also deposit any other cryptocurrency and convert it to VET pairs.
- On the preferred coin, choose DEPOSIT, and a deposit address will be generated. There, you can send your coins.
- Once you receive your crypto deposit to your Binance account, go to EXCHANGE and choose Basic. Another panel where you can trade VET and its pairs will appear. You can bypass all these steps by manually searching for VET.
- Select the necessary pair. Head to the buy section and input the preferred amount.
- Complete with a limit or market order. Once your order is complete and filled, the equivalent value of VeChain will be added to your wallet.
Best Places to Buy VeChain in the UK with GBP
Buying VeChain with GBP directly is perhaps the best way to invest without incurring unnecessary transaction fees from exchanging GBP for other currencies.
There are many options to buy VeChain with GBP. However, the best options for UK traders are as follows:
Binance provides options for buying VeChain directly with fiat currencies like Euro, Dollar, Pounds, and Turkish Lira.
Buying VET with GBP differs a little from the process of buying with crypto above. This is because buying VeChain with crypto requires two or more other processes. However, since GBP can be traded directly for VET, it only requires a few options. To do this, follow the steps below:
- After registering a functional account, deposit GBP fiat currency.
- Input the preferred amount.
- Choose a preferred payment method.
- Confirm payment details and complete 2DS Safety Certification.
- Complete the payment and wait for confirmation.
Binance accepts different payment methods, especially for UK traders including Wire Transfers, debit and credit cards, and cash.
After depositing fiat currency and confirming the transaction, it is time to make your first VeChain purchase. Follow the steps described in the first part for crypto to VET purchase. Alternatively, use GBP.
Another online crypto exchange platform where you can buy VeChain (VET) is Indacoin.
Indacoin is a UK-based exchange where UK traders can swiftly and conveniently trade cryptocurrencies with their cards. The platform supports various debit/credit cards and Payza to purchase VET tokens and other coins.
However, to purchase VeChain, traders must complete a form detailing the desired amount, currency type, and amount of VET they want to get. Later on, buyers can provide their details, including wallet address, email address, and tags. However, before proceeding with Indacoin, here are some points you should note:
- You must register an account with Indacoin before making any purchase.
- Ensure you complete the necessary fields in the form before proceeding with the transaction. Continue once you’re satisfied with what you provided.
- Enter payment details and confirm the transaction.
- Once your deposit has been confirmed, the VET token will automatically reflect in your Indacoin account.
It is important to know that UK traders cannot trade VET directly with GBP because the VET/GBP pair is not available.
BC Bitcoin is another good alternative for buying VeChain in the UK. It supports a wide range of convenient deposit and withdrawal methods, including Bank Wire Transfer, debit/credit cards, as well as SEPA and UK Faster Payments.
Located in Hertfordshire, BC Bitcoin is one of the UK’s most trusted crypto trading platforms. It is suitable for trading and exchanging cryptocurrencies registered in the county. To buy VeChain with BC Bitcoin you need to follow the steps below:
- Click the green BUY COINS from the top bar menu.
- Select VeChain from the list of supported cryptocurrencies.
- Select the preferred fiat currency.
- Select your preferred payment method.
- Enter the desired order amount.
- Input your wallet address and another optional wallet address.
After inputting the necessary information, the website will automatically display your transaction details, including costs, fees, and the total amount you spent on the coin.
Proceed to the next page to process your payment. Once the payment has been processed, the token will be deposited in your wallet. One downside of using BC Bitcoin is its high transaction fee of 4%.
With over 200 crypto listings, users can conveniently access Changelly right from their mobile devices. In addition, it provides support for its users all around the clock. Trading and exchanging on Changelly is simple as there are illustrative guides for users to buy their assets conveniently. To buy VeChain on Changelly follow the steps below:
- Go to the EXCHANGE section and select Buy.
- Select the preferred currency and enter the deposit amount.
- Choose VET from available crypto assets.
- Select your country of residence and continue.
After inputting the information, the equivalent value of VET will be calculated. Continue the transaction by choosing the preferred payment option. Available options include Wire Transfer, Debit/Credit card, and Apple Pay.
Crypto transactions on Changelly are powered by Indacoin and Moonpay. Therefore, you may be redirected to enter your wallet address. Once your transaction is complete, your VET will reflect in your wallet.
Kraken remains one of the oldest and simplest options for buying digital assets. It has a long list of coin listings and more than 100 tokens, including VET.
Kraken is also one of the largest exchanges by daily trading volume. As mentioned earlier, buying VET on Kraken is simple; you can complete your transaction in 3 simple steps:
- Register and verify your account with Kraken.
- Make fiat deposits with various deposit options, including Wire Transfer, SEPA, and SWIFT transfer. You can also deposit with cryptocurrencies.
- Choose VET and execute the transaction.
The only stressful part of trading with Kraken can be its account verification. However, once you’ve set up your account, there’s no limit to the pleasure you’ll get from trading with Kraken.
How to Buy VET in the UK With Other Crypto Assets
The traditional method of buying crypto is with fiat currency, although payment methods like PayPal are not popular. However, traders can also buy VET with other crypto pairs on their exchange. Common crypto trading pairs include BTC, ETH, and USDT.
To buy VET with crypto, follow the steps below:
- Create and verify your account with a reliable exchange, such as Binance. Alternatively, you can log in if you have an existing account.
- Generate a deposit address and deposit the crypto you want to use to buy VET.
- Exchange the coin with VET.
Typically, these are the three steps you’ll follow when buying VET; there may be additional steps for other exchanges.
Things to Consider Before Purchasing VeChain
Before you plan to buy or trade VET tokens, it is important to take note of the following things:
- VeChain has two tokens, the main VET and the other VTHO. Therefore, make sure you buy VET and not the other one.
- Ensure you do proper analysis before trading any cryptocurrency.
- Evaluate the risks and research the state of the token.
- Ensure you compare fees, pros, and cons before choosing an exchange.
- Choose a secured and reliable storage wallet if you want to withdraw your VET from the exchange.
How to Store Your VET Tokens Safely
After buying your VeChain token, choosing a good wallet to store your investment is important. The wallet can be desktop, mobile, hardware, or exchange-based. However, since they are of various types, some wallets do not support every crypto asset.
Meanwhile, mobile and web-based wallets, otherwise called hot wallets, are not generally safe places to keep your coins. These types of wallets are prone to hacking and cyber-attacks.
Typically, your exchange can provide a moderately secured wallet to store your coins until you find a better option. However, expert traders and investors recommend the following wallet for keeping VeChain safely:
- Atomic Wallet (Available on both PC and mobile devices)
- VeChainThor Wallet is a mobile-based VeChain wallet for Android and iOS devices. The wallet is developed as one of VeChain’s core products.
- Ledger Nano S is a type of hardware wallet and is one of the most popular crypto hardware wallets. It supports a wide range of cryptocurrencies, including VeChain. In addition, it is considered one of the most secure crypto wallets in the world.
Additional Security Tips
Investing and trading cryptocurrencies can be very risky due to their high volatility. It is important to acknowledge that trading cryptocurrency is a personal and financial responsibility.
Therefore, ensure you follow the rules and keep important things secured. Other tips for ensuring the security of your investment are:
- Ensure you check and choose reliable platforms only.
- Check personal information thoroughly before completing your registration. Wrong details can lead to total investment loss.
- Use additional security options like 2FA.
- Take extra precautions with VPN software and browser, including the Tor network, to hide your personal information.
- Choose your preferred exchange carefully. You can check for reviews and recommendations. Avoid unreliable and new platforms.
Several exchanges trade VET in the UK. However, it is important to choose a good and reliable exchange platform.
Purchasing VET and other cryptocurrencies may not be straightforward due to fiat currency differences and therefore, you may need to execute a crypto transaction before buying VeChain.