Simplecryptoguide.com

Simplecryptoguide.com

How To Buy Vechain (VET) 

Global:

Binance

United States:

Kucoin

Start by creating your account by clicking one of the buttons above.
Sign up with your email address or mobile phone number, and choose a strong password.
Before you get started and buy anything, you first need to verify your identity.
Then simply scroll down on this page to the exchange you have chosen and follow the steps.

 

Binance

  • Step 1: Select ‘Buy Crypto’ from your dashboard
    Once your account is verified there are two main ways to buy.
    By linking your debit/credit card or by linking your bank account.

  • Step 2: Start buying Vechain (VET)
    You are now led to a new page where you can proceed with your Vechain (VET) purchase.
    Select your preferred local currency and enter the amount you want to spend.
    Note that not all local currencies can be converted directly into Vechain (VET) – If this option is not available for you, simply follow the two remaining optional steps to complete your purchase.

  • Step 3: (optional) Start by buying Binance Coin (BNB)
    Select your preferred local currency and enter the amount you want to spend.
    We will then be converting that directly into Vechain (VET).
  • Step 4: (optional) Convert Binance Coin (BNB) into Vechain (VET)
    Return to your dashboard, then under the ‘Trade’ tab you will select ‘Convert’.
    From there you can directly convert your Binance Coin (BNB) into Vechain (VET) based on the current market price.

Kucoin

  • Step 1: Select ‘Buy Crypto’ from your dashboard
    Once your account is verified there are two main ways to buy.
    By linking your debit/credit card or by linking your bank account.

  • Step 2: Start buying Vechain (VET)
    You are now led to a new page where you can proceed with your Vechain (VET) purchase.
    Select your preferred local currency and enter the amount you want to spend.

For more in-depth instructions, our ‘Get Started‘ guide will take you through the process step-by step.
In addition to providing instructions for sending and receiving your cryptocurrency. And our ‘Articles‘ will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is Vechain (VET)?

Introduced in 2015 as part of Shanghai-based Blockchain-as-a-Service (BaaS) company, BitSE, VeChain is a distributed business ecosystem leveraging blockchain technology. It’s specifically designed to be used by both small and big businesses. VeChain’s public blockchain is called VeChainThor.

The Vechain Foundation is founded in Singapore and oversees the development, governance, and advancement of the VeChain ecosystem. With many real-world business applications already existing on the VeChainThor blockchain. As the VeChain Whitepaper 2.0 states, “these solutions are not just theoretical, they are solutions tested and discussed with over 700 enterprises and implemented for over 100+ fortune level enterprises.”

VeChain’s parent body has been given a 5-star rated Blockchain Service Certificate from TÜV Saarland, a European certification body.

The VeChainThor blockchain works similarly to other business-use blockchain platforms. Businesses use VeChain’s fully functional Blockchain-as-a-Service (BaaS) product called ToolChain to build their blockchain-based solutions. VeChainThor also supports smart contracts.

Single transactions on the VeChainThor blockchain can carry out multiple tasks. In addition, VeChain app users don’t need to hold any crypto to perform transactions. This can be done instead by the app owners, which can make the user experience more convenient for the average user.

The VeChainThor blockchain uses Proof of Authority (PoA) consensus, which delegates power to certain nodes in the VeChainThor blockchain for confirming transactions. This means that it only passes transactional blocks through Authority Masternodes that need to hold at least 25,000,000 VET.

VeChain has two separate tokens: VET and VTHO.

VET (VeChain Token) is used for financial transactions on the VeChainThor blockchain and market speculation.

VTHO (VeThor Token) is the “energy token” that’s used to conduct transactions on VeChainThor. VET owners can generate VTHO for use on the VeChainThor blockchain.

Vechain (VET) use cases

Food safety

Blockchain-based solutions could lead to a more transparent food economy around the world.

VeChain-enabled Internet of Things (IoT) devices can be deployed across the supply chain, including on products, vehicles, and warehouses. Then, environmental and location-based data from these devices can be uploaded, verified, and stored in a tamper-proof, decentralized manner on the VeChainThor blockchain. Solutions like this are already in effect for several companies, including Shenzhen Yuhongtai Foods.

Anti-counterfeiting

Counterfeiting in the luxury goods market is a serious problem. By attaching an encrypted chip and then using the chip to log and trace logistics, warehousing, maintenance, and resale, owners can be assured of authenticity. This has been used for luxury wine tracing for Shanghai Waigaoqiao Direct Imported Goods, and in testing for Renault luxury vehicle components.

Health records

Healthcare records systems are notoriously archaic. Instead of using inefficient and insecure record systems for lab results, this valuable data can be stored on the blockchain, with only patients and other authorized parties having access. A VeChain-based E-HCert App will be rolled out to patients of both the Mediterranean Hospital of Cyprus and Aretaeio Hospital in 2021.

Tracking carbon emissions

By driving carbon reduction by tracking carbon-emitting activities, this solution allows consumers to be involved in a carbon-saving scheme.

When smart devices, such as cars or appliances show that a consumer is generating less carbon, they can then receive credits to be used on energy services. BYD, a Chinese electric car brand, already uses a Vechain solution.

Official website: https://www.vechain.com/

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