How To Buy and Sell VeChain (VEN)?

By Rushali Shome

We have already given you the reasons to buy VeChain in 2019 and now you must be wondering how to buy and sell VeChain. In this article, we tell you exactly that, made simple in a step by step manner.

First, let’s take a look at how you should go about buying VeChain.

How to Buy VeChain?

Step 1

First, you need to get hold of a good, reliable wallet where you will store your VEN holdings after having purchased them.

While you can check which of the best cryptocurrency wallets offer support for this crypto coin, you can easily go for MyEtherWallet, which supports both Ethereum and coins developed on the Ethereum platform.

If you are choosing MyEtherWallet, go to www.myetherwallet.com and create a new account with a strong password. Choose the option “Create New Wallet”.

You May Also Read: How To Secure Crypto Wallets?

Step 2

After this, you need to download the keystore file and save it securely, with adequate backup.

Bear in mind, that your crypto holdings can have a security breach if you don’t store the keystore file well.

Step 3

This step requires you to mindfully take down your wallet private key, with which it is encrypted.

Make sure you also note down the wallet address (usually appears like a long combination of numbers and letters) so that you know where to send your crypto to.

Step 4

This step requires you to ideally purchase Ethereum to exchange the VEN against.

Now, you may choose Bitcoin, but since we are using MyEtherWallet, using Ethereum might be a more viable idea.

You May Also Read: How To Buy Ethereum?

Step 5

Exchange your Bitcoins or Ethereum for VeChain on an exchange that suits your pairing needs.

Most of the top ones allow you to exchange for either Bitcoin or Ethereum. Some even allow Tether. Examples of exchanges you can check out include Binance, Huobi and HitBTC.

How To Sell VeChain?

Selling VeChain is a relatively much easier process as you need not go through the several steps of creating a wallet. This is because you presumably already have one, which you used to store your VEN holdings.

Now for selling VeChain, you are required to simply go to the exchanges that do offer VEN pairings, most commonly with Bitcoin (BTC), Ethereum (ETH) or Tether (USDT). Bear in mind that in most of these cases, you will not be allowed to sell your VeChain directly against fiat

So if you would like some hard cash against your VeChain holdings, then the best option to go for would be to sell it against Bitcoin and convert that Bitcoin into cash. A similar thing can obviously done with Ethereum as well.

To sell VeChain, simply go to any of the exchanges that accept VeChain (refer to list in the following section) and put in a sell notice with the amount of VEN coins you wish to sell. Once a purchase order matches your requirement and price, you will have an equivalent amount of the paired coin transferred to your Exchange wallet.

Exchanges for VeChain

A short list of exchanges that deal in VeChain follows:

Binance

Huobi

BitFinex

Gate.io

Lbank

BitMart

KuCoin

HitBTC

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Rushali Shome

Rushali Shome is a history undergraduate with a keen interest in puns, politics and beyond. When not typing away furiously in the “Notes” section of her phone, she can be found trying to catch the eye of servers at restaurants or weddings for a second helping.

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