What is Vechain?
“The public blockchain that derives its value from activities created by members within the ecosystem solving real-world economic problems.”
Vechain is a blockchain platform which is focused on storing products and information. The project specialises in distributed data storage, third party services and application programming interface (API) gateway services. So far, the technology has been implemented across an international market in industries including luxury goods, liquor and agriculture. The project also boasts features such as:
- Controllable transaction lifecycle
- Multi-party payment (MPP)
- Multi-task transaction (MTT)
- Transaction dependency
How to create a Vechain wallet
Sign up for a free Coindirect account and you will automatically get a free Vechain online wallet. You can use your Vechain wallet to buy, sell, store, send (withdraw) and receive (deposit) VET.
How to create a Vechain address
Once you have signed up for a free Coindirect account all you need to do is press the ‘Receive’ button to reveal your Coindirect Vechain wallet address.
How to buy Vechain with a credit card
- Sign up for a free Coindirect account.
- Find your Vechain Wallet and click the ‘Buy’ button in your Vechain Wallet.
- Select “New VISA Card (EUR)” or “New credit card (NGN)” if you are in Nigeria.
- Enter EUR value of Vechain you want to purchase (more than the minimum limit) or the Vechain amount you want to buy and then click ‘Preview Buy’.
- You will receive a quote, press ‘confirm’ before the timer runs out (counts down from 55 seconds).
- Type in your credit card details and pay.
- You will be taken to a page to verify your transaction.
- Finally, you will be redirected back to your Coindirect Wallet once the payment is successful.
How do I purchase Vechain from my bank account?
If you are in South Africa or in Europe in a SEPA country you can deposit ZAR and EUR into your Coindirect ZAR Wallet or Euro Wallet respectively.
To fund your account you have to transfer money using bank transfers. To get the funding instructions so that your account is credited:
- Go to your ZAR/EUR wallet and click the “Fund now” button. Alternatively, click the Fund tab in your Coindirect wallet and click on “Transfer Now”.
- Select the bank to transfer to from the drop-down menu to get payment details and the reference you should use (highlighted in blue).
- Transfer the money from your bank account into the account shown on the screen then wait for the bank transfer to be processed (0-3 business days depending on the bank).
- Once the funds reflect in your ZAR wallet, go to your Vechain wallet and click “Buy” and select “Wallet (ZAR)” or “Wallet (EUR)” as you payment method.
Where can I sell my Vechain?
You can sell Vechain from your Coindirect wallet by clicking the ‘Sell’ button in your Vechain wallet.
If you are in a SEPA region or South Africa. You can sell your Vechain and instantly get money transferred to your Wallet (ZAR or EUR).
If you are in another region with no local currency wallet. You can sell your Vechain by creating a sell offer on the marketplace.
You now know how to buy Vechain instantly from almost anywhere in the world. Make sure to download the Coindirect App to trade Vechain from the palm of your hands.
Credit card limits
Please note that Coindirect has limits for credit card purchases in place.
Make sure that your account is verified so that your credit card purchase limits are increased.
Currently, the limits for credit card purchases are:
Unverified users – €175 – €500
Verified users – €890 – €1000
Buy VET and Earn Ripple by inviting your friends to trade with Coindirect. Simply share a unique link from your Earn tab and you will both receive 5 XRP when they perform their first transaction.