A comprehensive guide to acquiring VeChain assets.
How to Purchase VET & VTHO
Centralized Exchange
VeChain tokens (VET & VTHO) are available on several prominent centralized exchanges, including Coinbase, Binance, and Crypto.com. These exchanges act as intermediaries between buyers and sellers. To purchase VET/VTHO on a CEX:
Create an account.
Complete the KYC process.
Enable 2FA.
Deposit fiat funds via bank transfers or credit card payment.
Choose the cryptocurrency to buy - VET or VTHO.
Withdraw funds to a personal wallet.
Always double check and confirm the CEX website address to ensure you are using the official website.
Virtual Currency Platform
Another way to purchase the VET token is to use a virtual currency platform such as Coinify, https://mycoinify.com/. In order to use Coinify a user will have to:
Choose the cryptocurrency to buy - VET only.
Provide a quantity to purchase.
Create an account.
Complete the KYC process.
Provide your personal wallet address.
Provide debit or credit card details.
Place your order.
The Importance of Self-Custody
A popular adage in the blockchain industry, coined by Andreas Antonopoulos, states: "Not your keys, not your coins." This principle applies to all cryptocurrencies, including VeChain assets.
Why Self-Custody Matters
When you store your assets on a centralized exchange, you're exposed to counterparty risk. By entrusting a third party with your cryptocurrency, you're relying on their security measures and ethical practices. Self-custody, where you control your private keys, eliminates these risks.
Benefits of self-custody:
Full control over your assets
Reduced risk of exchange hacks or insolvency
Privacy and anonymity
Independence from third-party policies
VeChain and its affiliates will never ask for your private key.Never share your private key with anyone; doing so will likely result in loss of assets.
Steps to Secure Your VeChain Assets
Choose a reputable VeChain-compatible wallet (hardware or software)
Set up your wallet following the provider's instructions
Transfer your VET and VTHO from the exchange to your personal wallet
Safely store your recovery phrase and private keys
Regularly update your wallet software and follow the best security practices
By following these guidelines, you can securely acquire and manage your VeChain assets, minimizing risks and maximizing control over your investments in the VeChain ecosystem.
