Today, we will give info you need about VeChain. It is one of the best cryptocurrenies including hardware capabilities and payment mediator which is capable of pretty much everything from authenticity to payment of a product.
For instance, if there is a medicine that is made in India and a patient needs it in USA that is a really much long distance but not only distance this medicine needs special handling and cannot travel through air due to high altitude the distance may encounter some clinical damages to the drug and so if it comes from a ship or cargo there may be a chance of tampering the medicine.
- 1 VeChain explained
- 2 Online Wallets to store VEN coin
- 3 Hardware Wallets for storing VEN (VeChain Tokens)
- 4 How To Buy VeChain?
- 5 Conclusion
VeChain allows manufactures to put on special RFID tags and sensors to assign unique identity to the products which are capable of recording and administrating every stage of the product. The information is stored in public VeChain Blockchains so the manufacturer, supply chain partners and the end consumer of the product all can have a look at it.
So the manufacturer of the product can put on RFID and sensors and can track it from anywhere same is with the consumer. This will neglect the possibilities of any product getting tampered or replaced with the local or substandard products.
VeChain can help Streamline a lot of businesses and ease it off. A European luxury company has partnered with VeChain where if puts on NFC tags on its leather products to enable authentic product verification by the customers.
Now What ?? Well, now you know what is VeChain capable of now you have to to do some steps to Get VeChain.
Choosing a VeChain Wallet
As VeChain is an ERC-20 Token running on an Ethereum blockchain there aren’t any official wallet launches yet but this doesn’t mean you can’t trade on VEN, you can keep your VEN coins in an Ethereum based wallet and sound to reduce the risk factor of it getting it stolen.
Online Wallets to store VEN coin
Myetherwallet is ERC-20 compatible and open-source Ethereum wallet which is one of the best online wallets to store VEN tokens. It is a client side interface and unlike other wallets the private tokens are not delegated to third party API’s. It is also compatible with hardware wallets like Ledger, Trezor, Digital Bitbox and etc.
Meta Mast is an Ethereum browser wallet and it is different from online wallets means no logins and stuff required it can be accessed from browser, launched in 2016 and is compatible with every ERC-20 token.
MetaMask also works with MyEtherWallet. It is easily accessible with a web browser such as Chrome or Firefox (using extension or addons). You don’t have to login because all private keys are stored on the browser encrypted and password protected. Apart from storing VEN it can be used to access Ethereum. It also has built-in feature to prevent users to access malicious or fake crypto sites.
Hardware Wallets for storing VEN (VeChain Tokens)
Ledger Nano S
For better security improvement, you can manage VEN on hardware wallets Like Ledger Nano S . It is the most popular multi-currencies and altcoin wallet based on robust safety features but to store VEN tokens on this device you have to collaborate with myetherwallet.
Another serious hardware wallet to take in consideration is Trezor.
It was launched in 2014 and is compatible with bitcoin many other alternative coins and ERC 20 tokens for VEN. Just like Ledger Nano S you also have to use it with myetherwallet.
Both of these hardware wallets are compatible with Windows, Mac, and Linux and are safer and sound than most wallets because they are offline so lesser chance of malware and attacks.
How To Buy VeChain?
Bad Luck is that there aren’t much places where you can trade VEN. The standard and biggest exchanges online to buy VEN are i.e., HitBTC, Binance and Huobi according to the trading volume.
HitBTC Exchange to trade (VEN tokens)
HitBTC is one of the world’s most advanced online exchanges being said daily trade of over 250 million USD as of march 2018. This figure would give you an idea about the trading volume and audience using HitBTC.
Binance Exchange to trade (VEN tokens)
Binance was launched in 2017 and it is one of the most reputable online trading platforms. You can find VEN/BTC pair on Binance site which is secured and also offers two steps verification for powerful layer of security. The problem is you cannot upload money Euro and Dollars or PayPal, you have to exchange cryptocurrency for a cryptocurrency. Means you have to trade BTC coin to buy VEN coin (Give BTC and take VEN, simple as that). You will have a built-in wallet for your VEN on the Binance exchange to store VEN.
Huobi Exchange to trade (VEN tokens)
Although, it has been around since 2013, Huobi is still pretty much unknown in the world of cryptocurrency. This is due to it being a Chinese trading platform with users mostly in Asia.
Huobi exchange has low or no fees for Chinese traders you don’t have to use it when Binance is an option or HitBTC. But, the point is they have VEN pair of cryptocurrency for Chinese its users.
Besides, VEN/BTC pair you can also trade in VEN/ETH, VEN/USDT pairs.
VeChain is making humongous progress within short intervals of time and it being relative to enterprises is giving it a go. So you may need to invest on it for a better (Future).