How To Buy Vechain In Canada (Jan 2022)

How To Buy Vechain (VET) In Canada

There are two types of platforms that you can use in order to buy Vechain (VET) tokens in Canada.

The first platform would be known as a cryptocurrency exchange: crypto exchanges allow you to buy digital coins with fiat currencies like CAD, USD, and EUR, and it will also allow you to buy other coins (like Bitcoin (BTC), Solana (SOL), and Tether (USDT)) so that you can trade them for Vechain (VET) tokens.

The second platform to use would be a cryptocurrency broker. These platforms are simpler to use compared to crypto exchanges, often allowing you to trade crypto with just a few clicks. However, they also have higher fees to crypto exchanges, so it’s important to carefully consider both options before choosing the right one for you.

Top Crypto Exchange To Buy Vechain (VET) In Canada

3. Crypto.com

Crypto.com is a major global player that brings a mature, proven exchange to Canadian crypto investors. It supports 100+ cryptocurrencies, making it an ideal fit for anyone looking to invest in undiscovered altcoins before the masses.

Crypto.com offers some unique features that no other Canadian cryptocurrency exchanges can match. Users can trade options and futures contracts, earn interest by staking their coins, and make trades with up to 10x leverage when they feel particularly confident in a coin.

Crypto.com also has invested an enormous amount of money into its platform security, which makes trading with them extremely safe. The exchange is lightning quick (prices update dozens of times per second), which gives day traders an upper hand over the rest of the market.

Overall, Crypto.com is a solid exchange for investors looking to cash in on brand new altcoins. If you’re just looking to buy more mainstream coins like Bitcoin and Ethereum, though, I suggest either CoinSmart or Bitbuy instead.

Features

• Average trading fees (0.4%)
• Supports 100+ cryptocurrencies
• Allows up to 10x leverage
• Trade crypto derivatives (futures and options contracts)
• Earn daily interest by staking your coins
• Purchase newly-listed coins at up to 50% off
• Free deposits from all cryptocurrencies

Cost

• Account Opening: Free
• Trading Fees: 0.4%

Best For

Investors looking to buy altcoins and other new crypto assets before they go mainstream.

How To Buy Vechain In Canada FAQs

What Is Vechain (VET)?

Vechain (VET) is a cryptocurrency token belonging to the VeChainThor blockchain platform, which is a public blockchain intended for “mass business adoption”.

VET is available to the public for investing purposes, and it’s used to carry value from smart contracts. Any transactions from decentralized applications that occur on the VeChain blockchain will use VET.

Can I Buy Vechain (VET) In Canada?

Certainly. You just need to find a cryptocurrency exchange or cryptocurrency broker that supports Vechain (VET) and then create an account on said platform. Once that’s done, you should be ready to buy, sell and trade Vechain (VET).

For this purpose, I recommend you use Crypto.com, as it is one of the few crypto exchanges in Canada that supports this coin and allows you to trade it for relatively low fees.

How Do I Store My Vechain (VET) Tokens?

There are two main ways you can store your Vechain (VET) tokens: leaving them inside your crypto exchange account or using a personal crypto wallet.

Leaving your tokens inside your crypto exchange account is the most convenient choice, and it’s not that unsafe considering most crypto exchanges keep 95% of their assets inside cold storage. However, your account could still be stolen or hacked, so it’s not a completely riskless option either.

Using a personal crypto wallet, on the other hand, is much safer than leaving your crypto assets inside your crypto exchange account, even if it’s not 100% guaranteed safety either.

Here are our top 3 picks for the best crypto wallets:

1. ZenGo: ZenGo is a free software wallet that leverages the blockchain to make it significantly more secure than traditional wallets while also being extremely easy to use. Sending and receiving crypto to/from ZenGo is also free, and it takes less than 30 seconds to open your free ZenGo wallet.
2. Ledger Nano S: The Ledger Nano S is a hardware wallet that uses a certified secure chip to protect your private keys. It supports 1,500+ cryptocurrencies and allows users to hold up to 20 digital assets on the device at any given time.
3. Trezor Model One: The Trezor Model One is a hardware wallet and password manager that supports 1,000+ cryptocurrencies. Its Trusted Display ensures extremely secure transactions, and its compact design makes it easy to keep your crypto safe.

Is Vechain (VET) A Good Investment?

As a preliminary warning, you should be aware that any altcoin is prone to wild fluctuations in prices, which means that you should never invest more than what you can afford to lose when cryptocurrencies are concerned.

However, Vechain has been performing pretty well lately, which means that it’s a potentially good investment and might continue to be one in the future.

In Summary

Although Vechain (VET) support is not widespread across crypto brokers and exchanges in Canada, there are still a few options out there that will allow you to buy, sell and trade Vechain (VET) tokens today.

For this purpose, I recommend that you use Crypto.com. It’s one of the few crypto exchanges in Canada that supports Vechain (VET), and considering its lightning-fast price updates, its top-notch security, and a very wide array of supported cryptocurrencies, I can’t recommend Crypto.com enough.