VeChain is one of Cryptocurrencies we have written about. In our view, VeChain has a lot of potential to increase by hundreds of percentages in the coming years. Since we purchased this coin, it has already risen sharply. At the moment, VeChain or VET stands at € 0.048419. Some analysts indicate that this coin has the potential to even exceed one euro. Of course, I leave it up to you whether or not to invest in this and it is under your own responsibility. The price can of course fall just as well. If you want to purchase them, you can do so by going through the following steps. We assume that you are using your mobile. The screenshots from this article are consistent with the iOS (iPhone) app. This is expected to be comparable with Android phones.
Step 1. Download the Binance App from the store and create an account
Go to the App Store on your phone and search for Binance. Install the app and create an account. This requires a lot of information, which you must provide. The acceptance process can take several days.
Step 2. Deposit money (fiat) into your account
To start, we need euros on the account. You can deposit money by following this steps: Click on Storten (Deposit)> At the top select Fiat > Choose EUR > Choose iDEAL
Fill in the amount, select your bank and choose doorgaan (continue):
Step 3. Convert your Euros to Ethereum (ETH)
Now that we have Euros available, we first have to convert them to Ethereum. Unfortunately, it is not yet possible to purchase VeChain (VET) directly with Euros. You can purchase Ethereum by taking the following steps: At the bottom click on Markten (Markets) > at the right top click FIAT > EUR > Select ETH / EUR. Then choose Kopen (Buy) > Marktprijs (Marketprice) > select 100% and choose Koop ETH (Buy ETH).
Step 4. Convert your Ethereum (ETH) to VeChain (VET)
Now that we have Ethereum (ETH) available, we need to convert it to VeChain (VET). You can purchase VeChain by going through the following steps: Click on Markets at the bottom > ath the left top ALTS (under Spot) > ETH> Select VET / ETH. Then choose Kopen (Buy) > Marktprijs (Market price) > 100% and choose Koop VET (Buy VET).
Congratulations! You bought your first VeChain. You can leave your VeChain with Binance, but it is not recommended for security reasons. Advice is to send your VeChain to a Wallet that you can download on your phone. The Wallet / App is called VeChainThor and can be downloaded from the App Store. If there is a demand, we will add the description to this article.
If you want to see how much your VeChain is worth, choose Walletsat the bottom right and click on Spot. If everything is in English or Dollars, you can change this via your profile settings.
Earn extra through Binance
We have not followed the advice to send your cryptos to a wallet ourselves. Within the Binance App you have the option to receive a kind of interest. If you move your VeChain to Flexible Savings, you can, for example, get extra VET, but you also generate VTHO. Tip: turn on Automatic deposit, so that your generated VET also contributes to the generation of VET. You can redeem this at any time and bring it back to your Wallet. Tip: turn on Automatic deposit, so that your generated VET also contributes to the generation of VET. This creates an interest on interest effect.
How do you convert your VeChain to Euros and return it?
After VeChain has hopefully increased, you can convert it back to Euros and transfer it to your own bank. You can do this by going through the following steps.
Step 1. Convert from VeChain (VET) to Ethereum (ETH)
At the bottom, click on Markets > at the left top on ALTS (under Spot) > ETH> Select VET / ETH. Then choose Verkopen (Sell) > Marktprijs (Market price) > click 100% and choose for Verkoop VET (Sell VET). Now we have sold our VET for ETH.
Step 2. Convert from Ethereum (ETH) to Euros
At the bottom click on Markten (Markets) > at the right top on FIAT (underneath Spot) > EUR > Select ETH / EUR. Then choose Verkopen (Sell) > Marktprijs (Market price) > Click on 100% and choose Verkoop ETH (Sell ETH). Now your ETH has been converted to Euros.
Step 3. Transfer money to your account
The last step is to transfer your money to your bank account. At the right bottom click on Wallets > At the left top on Overzicht (Overview) > Opnemen (Withdrawl) > Choose Fiat > Click EUR > Fill hte required informaiton and click on Doorgaan (Continue). The money will be transferred to your account!
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