Getting Started with VeChain
Despite how low crypto fell in 2018, Advancements has continued to hit the blockchain network, thus moving it forward.
One of the projects leading the way in this sector is VeChain (VET), and since its inception, it has always looked very promising. There are many new interesting projects that VeChain is currently working on worldwide.
VeChain Has moved the technological advancements of the blockchain a step further through its association with DNV and one of the most important health care facilities in Renji Hospital, China. This union has seen the birth of a blockchain-based service app called MyBaby, which is for In-Vetro fertilization (IVF).
VeChain strives to make positive impacts by confirming a meeting with the government officials from three important Chinese districts as announced on its official Twitter handle.
As confirmed by reports from the VeChain Foundation, the meeting with the government officials and representatives from the Enterprise blockchain platform was focused on “potential transformative collaborations.”
To this effect, VeChain is aimed at actualizing some potentials.
Further to the introduction to VeChain, let’s see how to buy Vechain on Binance.
I’ll highlight this process step by step.
Key Takeaways
• Two tokens are present on VeChain; VeChain token (VET) for the value layer, and smart contracts, VeChain Thor Energy (VTHO).
• VeChain seeks to provide an organizational view through information dissemination from data silos as an enterprise platform and blockchain.
• VeChain aims to be a reliable conductor of transactions between devices that are Internet of Things (IoT) connected and also be a leading platform for ICOs (Initial Coin Offerings).
SEE ALSO: How to Connect Binance Smart Chain to MetaMask
SEE ALSO: How to Connect Binance Smart Chain Extension to Trust Wallet
What is VeChain?
VeChain is a smart contract platform that provides chain management solutions for various enterprises and integrates with the Internet of Things (IoT) devices to enhance the process.
It aims to leverage distributed ledger technology to shape these operations and data flow for the however knotty supply chain.
There are two tokens on the VeChain network, namely the VeChain Token (VET) and the VeChain Thor Energy (VTHO). The previous is employed to relay price across VeChain’s network, whereas the latter is employed to enable and drive smart contract transactions in the form of energy or “gas.”
The platform claims to convey licensed stakeholders with a complete read of crucial data associated with a product and its business processes (i.e., storage, transit, provide, and authenticity) similarly as increase market transparency
How to Buy VeChain on Binance
In this article, I’ll use the Binance exchange be because it is a household name with a trading presence all over the world. Binance is known for its massive market liquidity, broad peer-2-peer exchange platform, and a wide range of tradable digital assets.
Binance is one of the most secure and highest trading volume exchanges known in the world. Join Binance to buy Vechain or any other crypto.
Get Yourself A Binance Account
As mentioned earlier, Binance is known to have one of the most important liquidity for altcoins within the crypto market, and it additionally offers an oversized range of commercialism pairs.
VET is often changed for Tether (USDT), Ethereum (ETH), Bitcoin (BTC), and conjointly Binance Coin (BNB), the digital coin discharged by Binance.
If you don’t have an account yet, it would be appropriate to register for a free account. Registering for an account on Binance is very swift and easy, and it is also stress-free. You can sign up.
It simply takes some steps that are quite easy to enable users to begin commercializing digital currencies on the platform.
However, if the goal is to possess higher limits, you’ll need to go through a verification process that does not take long to complete.
Get Verified on Binance
Having signed up for an account, you have to move on to the verification process. This is important because it will remove certain limitations on the newly created account.
You have to head to the profile icon to verify your account and click on it. Then you’ll see the page below. Click on “identification.”
Before buying and selling on the platform, you need to verify your account. You do this by submitting documents and information about yourself, including your passport, driving license, passport, or other government-issued ID.
In addition to this, you have to set up some security measures to keep your account safe and inaccessible to any other individual or group of people. Such security measures include 2-Factor Authentication.
Once you are done with the account verification process, you’ll see a page like the one below.
Once you can access this page, congratulations on your verification process, now you can move on to buying and selling crypto on your account.
SEE ALSO: How to Use Binance Smart Chain Faucets
Purchasing VeChain (VET) on Binance
As this new cryptocurrency gradually extends its borders, big exchanges are now enabling the accessibility and purchasing of VET. As a result, the purchase of VET is now possible and very quick on Binance.
To buy VETon Binance, click on “buy crypto” on the top left corner of the dashboard. Five options will pop up after clicking on the “buy crypto,” 5 different options will pop up.
For a start, I recommend that you go by the “credit/debit card” option because it is easier and less complicated for a beginner. Moreover, you’ll have immediate access to your funds.
Once that is done, you’ll be directed to a page to make payment and choose your desired crypto.
In the spend section, you get to choose the currency with which to buy.
Moving on, you’ll have to choose which crypto you want to buy. By default, it is set to Bitcoin.
To change it to VET, you will click on the receive button and look for VET. If you can’t find it on the list, you could simply type in “VET,” and it will appear.
After selecting VET, type in the amount of money you wish to purchase and click continue. You will be required to fill in your card payment details (including security).
Once the details are correctly filled in, you can press “confirm” and allow the purchase process to take place.
As soon as your transaction is confirmed, congratulations, you have just bought VeChain on Binance.
Final Thoughts
In a nutshell, VeChain can be referred to as BaaS (Blockchain as a Service).
It starts with the availability chain and the exploitation of digital product identities on the blockchain to monitor and trace product and delivery.
VeChain is undoubtedly a project with Brobdingnagian potential and has raised necessary ballyhoo from the crypto community since its ICO in August 2017.
VeChain has been partnering with utterly completely different companies worldwide, alongside Asia, one in each of the places where blockchain technology is increasing in private and public organizations.
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