The question of what is VeChain (VET) Coin is one of the most frequently asked questions by many people who want to step into the world of crypto money. In this article, we will answer some very curious questions about the cryptocurrency, abbreviated as VET. You can take a look at the article we prepared and learn about the cryptocurrency in question.
Cryptocurrencies named Bitcoin (BTC) and Ethereum (ETH) gained immense popularity around the world, especially in 2017. On top of that, a large number of cryptocurrencies called altcoins emerged. This makes it almost impossible for people who do not follow the cryptocurrency world closely to be aware of all altcoins.
VeChain is among the cryptocurrencies released after the popularity of BTC and ETH increased. The cryptocurrency, abbreviated as VET, is wondered by many who want to step into the world of crypto money.
In this article, we will answer many questions about VET, which is among the most curious cryptocurrencies. You can find answers to some of your questions about the popular cryptocurrency by browsing the article we prepared.
Note: Please note that this article does not constitute investment advice. Do not forget that the values of cryptocurrencies change very quickly and you need to constantly monitor and research.
What is VET Coin?
Because there are so many cryptocurrencies today, many people may not know that there is an altcoin called VeChain on the market. Designed to improve and simplify supply chain management and business processes, VET is blockchain-based.
The purpose of launching this cryptocurrency is to make this process and information flow much easier for complex supply chains through distributed ledger technology. VET, which started its studies in 2015, was released in 2016.
VET was developed by Sunny Lu, CIO of Louis Vuitton China. Functioning on the Ethereum blockchain in the first place, VeChain took a very important step in 2018 and switched to its own blockchain called VeChainThor (VET).
The blockchain named VeChainThor uses the Proof of Authority (PoA) algorithm, which requires relatively low computing power. Designed specifically for use by small and large businesses, VeChain works similarly to many other blockchain platforms.
VeChain has two different tokens, VeChain Token (VET) and VeChainThor Energy (VTHO). The cryptocurrency in question is currently ranked thirty-second on the list of the most valuable cryptocurrencies by market cap.
How much is VeChain (VET) Coin?
According to CoinMarketCap, the value of 1 VET is currently around 0.53 TL, but the price can change at any time. In the last 24 hours, the price of the cryptocurrency named VeChain was 0.47 TL at the lowest and 0.53 TL at the highest. So, how to buy VeChain (VET) coin?
How to Buy VeChain (VET) Coin?
- Visit the cryptocurrency exchange with VeChain.
- Create an account on a cryptocurrency exchange.
- Deposit money into your account.
- Buy VET.
Here are the steps you need to take in order to buy the cryptocurrency, which is described as VET above. You can take a look at the details of the steps in the list below.
1. Visit VeChain Cryptocurrency Exchange
The purchase of cryptocurrencies is very curious by many people who want to step into the world of crypto money. First of all, you need a cryptocurrency exchange. Currently, there are various cryptocurrency platforms. These exchanges contain a large number of cryptocurrencies.
In order to buy the cryptocurrency, which is considered VET, you need to visit a cryptocurrency exchange that offers VeChain. You should be very careful in choosing the platform because if the platform you choose is not reliable, you are likely to be scammed. For this reason, you should not be in a hurry to choose a crypto money platform and do a very good research.
2. Create Account on Cryptocurrency Exchange
After visiting a trusted cryptocurrency platform that includes the VeChain cryptocurrency, the next step is to create an account because an account needs to be created before the cryptocurrency can be purchased.
3. Fund Your Account
You need to deposit your money in cryptocurrency immediately after creating the account. To do this, you must first deposit money into your account. The deposit process may differ from cryptocurrency exchange to cryptocurrency exchange, but the steps are similar.
4. Buy VET
There is one more step that you need to follow after the deposit to the account. Type the name of the cryptocurrency in the search button on the cryptocurrency exchange and then search. Then you can buy the cryptocurrency named VET by following the steps.