How to Buy VeChain in the UK 

A Beginner’s Guide to Buying VeChain Cryptocurrency in the UK

5 Min Read
Last Updated July 23rd 2021

If you’re based in the UK and wish to buy VeChain – the process is very straight. All you need to do is find a regulated exchange, deposit some funds, and decide how many VeChain tokens you want to buy.

Over time, cryptocurrencies have gained significant popularity as an investment vehicle, with many investors venturing into this hot market. The strong trend that the crypto space has shown since the beginning of the year has increased the interest that investors have in this market. 

Multiple kinds of cryptocurrency exist in the market today, and VeChain is one of them. VeChain stands among the good coins in the market today, offering investors a chance to diversify their crypto portfolio from the more traditional coins like Bitcoin and Ethereum.   

With this guide, you have all the information you will require to guide you through the process of buying VeChain tokens in the UK. The guide will also point out some important considerations before investing. Nonetheless, new market entrants should seek the counsel of an industry professional to equip them with the right knowledge and skills requisite for surviving and thriving in the crypto space. 

What's in this guide?

  1. QUICK GUIDE: HOW TO BUY VECHAIN VET IN THE UK
  2. A step-by-step guide to buying VeChain in the UK
  3. How to sell VeChain
  4. Which wallets can I use to hold Vechain?
  5. How VeChain works
  6. Key things to consider before buying VeChain in the UK
  7. Conclusion

QUICK GUIDE: HOW TO BUY VECHAIN VET IN THE UK

  1. Open an account with an exchange
  2. Verify your account
  3. Go to the deposit section
  4. Go to the platform and select VeChain
  5. Enter how many VeChain VET tokens you want to buy
  6. Check the details and confirm your purchase

A step-by-step guide to buying VeChain in the UK 

Follow the following step-by-step when you are ready to start buying the VeChain tokens in the UK.

Step 1: Open an account 

The first step entails setting up an account and completing the registration process. Several cryptocurrency exchanges exist in the UK, all with their specific designs. For this reason, you must take time to investigate and learn about an exchange before settling to sign up with it. 

When registering an account to buy VeChain tokens, first make sure that the account supports this coin. To open the account, you will be required to provide details such as your name, telephone information, and proof of address, such as a utility bill. Later on, you will have to verify your identity with the help of a government-issued document such as your National ID or passport. 

The process of setting up an exchange account is brief and easy. For the account's security, you will have to set up a strong password and later a multi-factor authentication to protect your account from unauthorized access. 

Step 2: fund the account 

Funding the account is the second step and an enabler for buying the VeChain tokens. Funding the account is done via credit or debit card or using a direct transfer from the bank using the GBP. However, certain exchanges do not allow for this type of exchange, which is why it is advisable to do your due diligence before signing up with an account. Supposing the exchange account does not support buying VeChain tokens through GBP. Then you have to consider the alternative option involving exchange one cryptocurrency for the other. Some of the coins that you may trade for the VeChain token include Bitcoin, Ethereum, and Bitcoin Cash, among others. 

Step 3: Buy VeChain 

The third step involves buying the VeChain tokens after you have funded your exchange account. Buying the coins is an easy process and requires that you navigate the buy section on the account's dashboard and specify the number of tokens you wish to buy. You will then be required to provide some of your details like your name, mobile phone number, and email address. After selecting the number of tokens, you want to buy, initiate the purchase, and go to your email for the confirmatory notification. 

You can buy VeChain tokens through the market or limit order options. The market order allows you to purchase the coins at the prices that are prevailing in the market at that time and will complete your purchase immediately. On the other hand, the limit order lets you set a low limit at which you want to buy the coins. Once the prices are at their lowest in the market (your set price), the transaction will automatically complete. 

Step 4: Store your VeChain in a crypto wallet 

When you have your VeChain tokens, you may want to store them somewhere for safekeeping or temporarily as you wait for a chance to use them. A crypto wallet is a safe place to keep your tokens after buying them and giving you the chance to use them for a transaction later.

There are two different forms of crypto wallets. Hot wallet stores tokens online and for a short time so that once you are ready to use them, you can retrieve them very easily. On the other hand, Cold wallets store the tokens offline on a hardware device like a USB drive. 

How to sell VeChain 

You can sell VeChain tokens as easily as you bought them. To do so, navigate to the sell section of the exchange and then specify the number of coins you wish to sell. Next, confirm your transaction details and your details, then finally let the transaction begin processing. 

You can either sell your VeChain directly in exchange for GBP or by exchanging them for other cryptocurrencies. The latter option selects the option that aligns what you are exchanging against what you wish to acquire. 

Which wallets can I use to hold VeChain?

You can use either a hot wallet or a cold wallet to hold your VeChain tokens. The two types of wallets work differently and offer different levels of security. Hot wallets store tokens online and make it easy for you to retrieve them when you want to use them for a quick transaction. 

There is also the cold wallet, which stores the VeChain tokens offline in a hardware device. Among the devices used in this regard include USB drives. The offline option protects tokens against attack and loss to other internet users. 

How VeChain works 

The VeChain token is blockchain-based and, therefore, decentralized. As such, no intermediaries are necessary when you want to buy or sell these tokens. 

Key things to consider before buying VeChain in the UK  

Among the facts that you must consider before buying VeChain tokens include:- 

Performance 

Check how VeChain tokens have been doing in recent months, which will help you make an informed decision on how they may perform moving forward. 

Volatility 

Cryptocurrencies are highly volatile, so you need to be ready to manage the high risk of investing in this market. 

Usability 

When a token has several uses, its future price is protected from a large market dip. 

Conclusion 

VeChain tokens are a key player in the crypto market and can be bought or sold very easily. Like any other cryptocurrency, VeChain tokens require investors to have a proper understanding of the market to minimize losses.

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