The VeChain coin is one of the most popular cryptocurrencies in the world. In today’s blog post, we will show you how to buy VeChain on Binance and store it safely.
How yo buy Vechain on Binance Summary
Follow this steps to buy Vechain on Binance:
- Create a Binance account
- Enter referral code to get lower trading fee: C3JJ7VEM
- Fund your Binance account with fiat currency
- Buy Vechain
- Withdraw the Vechain to your Wallet
What is Binance?
Binance is a cryptocurrency exchange where you can buy, sell and trade digital currencies. They list some of the most popular cryptocurrencies on their platform including Bitcoin (BTC), Ethereum (ETH), and VeChain (VET). It aims to provide traders with low trading fees while maintaining security by facilitating high-volume trades via its efficient matching engine that uses an automated market maker together with other smart order routing techniques.
What is VeChain?
VeChain (VET) is a leading global enterprise-level public blockchain platform that has turned to the world’s digital economic era. The VeChainThor Platform includes not only a range of technological innovations but also in-depth analysis and design of real use cases across four major industries, including liquor, auto parts & accessories, food/agricultural products (including livestock), and retail.
Step 1 – Register for an account on Binance
The Binance registration process is straightforward. First, click the signup button at the top of the screen. Next, choose a username and enter a valid e-mail address.
To log in, enter your information into the fields provided, including your email address and password.
Once you have logged in to your Binance account, you can update your login details quickly and easily if necessary. To do this, click on the “Account” tab at the top of the screen, pick “Change Password” from the menu, enter your new password, confirm the new password, and submit.
After setting up your Binance account, you should make sure it’s secure. Here’s how:
- You must first sign in to your Binance account
- Select “Account” on the top menu bar
- Choose “Security Center”
- Click on the “Google Authenticator App” link and follow the on-screen instructions to set up your “Two-factor authentication.”
Step 2 – Fund your Binance account With fiat currency or Bitcoin
Most people asking questions about cryptocurrency are wondering how to get funds into their Binance account in order to start trading.
You can deposit Bitcoin into your Binance account or use fiat currency. Coinbase or Gemini are two standard exchanges that you can use to buy Bitcoin. On Binance you can buy Bitcoin with a credit card or send fiat to your account via ACH or wire transfer.
You should verify your Binance account before transferring any Bitcoin if you haven’t done so already. Upon verification, you can fund your Binance account and start trading.
Our example illustrates the process of sending Bitcoin from your Coinbase wallet to your Binance wallet. It is practically the same process when sending from any Bitcoin wallet or other crypto exchange.
You must obtain your Binance Bitcoin address in order to send Bitcoin to your Binance account. You can get your bitcoin address by clicking “Funds,” then “Deposits,” then copying your bitcoin address.
With Coinbase, simply enter the number you need to send, your Binance Bitcoin wallet address, and click “Send.” Once the Bitcoin has been received by your Binance account, a deposit confirmation e-mail will be sent to you.
Step 3 – Buy VeChain
With your Binance account now ready to go, it’s time to purchase some VeChain coins. Start by clicking on the “Exchange” button near the top of the screen. On the right side of the page search for, then select the VET/BTC pair.
VeChain can be purchased in two ways. The first way is using a limit order and the second way is through a market order.
A limit order is a type of trade that lets the investor place an order to buy or sell at a specific price. This means if the market moves past this specified point, then the trader will not be affected by it.
Using a limit order is demonstrated in the following example:
- Put in the amount of VeChain you’d like to purchase in Bitcoin
- The type of order you selected is “Limit”.
- Choose from Binance’s range of prices or enter your own limit price.
- Click the buy button
VeChain will be delivered to your Binance wallet immediately after your order has been fulfilled.
Placing a market order is the same as placing a limit order except that the “Market” order type is selected instead.
You may want to use limit orders for larger purchases since you can specify the exact price you’re willing to pay for your VET.
When dealing with smaller amounts, market orders may prove more useful than researching the current prices of VeChain/BTC on the exchange or conducting technical analysis so you can place a limit order.
Step 4 – Withdrawing your VeChain tokens
For security reasons, cryptocurrencies should always be stored in your own personal wallet and not on an exchange. You can create your own VeChain wallet by going to https://env.vechain.org/.
Following these steps will ensure your VeChain tokens leave Binance and arrive in your VeChain wallet safely:
- Click the “Funds” tab
- Pick “Withdrawals” from the menu
- Click the “Deposit/Withdrawal history” link
- Select VeChain from the list of coins
- Enter the withdrawal wallet address from your VeChain wallet
- Enter how much you want to withdraw
- Confirm your VeChain wallet address is 100% correct
- Complete the Binance security checks and submit
The popularity of cryptocurrencies like VeChain as an investment option has increased significantly over recent years, with people investing their hard-earned cash in this burgeoning market due to its high returns.
The Binance cryptocurrency exchange is one of the fastest-growing and most popular exchanges in the world. Their focus on security, user experience, and customer service have made them an industry leader. Binance makes it very simple to buy any crypto such as VeChain (VET), which makes it very appealing to the beginning investor.