What is VeChain (VEN) Cryptocurrency?
“the world’s leading platform for products and information”
VeChain (VEN) offers a platform built on blockchain technology that improves upon the supply chain management process. Supply chain management traditionally sits at the heart of all big businesses making this new technology an important, desirable, disruptive and revolutionary development in the crypto space.The project started in 2015 with the ICO coming through in August 2017. The project is directed by the VeChain foundation out of Singapore and is being touted as a cryptocurrency project to keep an eye on in 2018.
The technology lets consumers and retailers manage all aspects of their supply chain process using tamper proof distributed ledger technology. Storing all components of the supply chain in this way will provide companies with an authoritative and secure platform for enhancing their supply chain performance.
VeChain was also named as part of Pwc ‘incubator’ companies in May 2017 helping them to expand operations in Asia:
“Disruption is here to stay in our current volatile business environment and it brings both opportunities and challenges. We firmly believe that it is through embracing disruptive change that allows innovation to flourish. This is an exciting milestone for us, and we are confident that together with VeChain we will bring more value to the marketplace through collaborative innovation.”
PwC Singapore’s Executive Chairman Yeoh Oon Jin
Why should I buy VeChain (VEN) tokens?
An exciting recent development announced by VeChain is the partnership with China’s tobacco industry working with the national level government body- state tobacco monopoly administration and China Central Government owner China National Tobacco Corporation, via an exclusive partnership with NRCC. Read more on that here. As you can imagine this is exciting news for prospective investors in VeChain as the team look to build on an already impressive start. It’s looking likely that we’ll see further partnerships announced throughout 2018.
“VeChain will be providing proof of origin and anti-counterfeit technology to track Chinese produced tobacco products throughout the entire supply chain. This partnership came into place as China announced a crackdown on smuggled counterfeit cigarettes.” Medium, 2018
Other VeChain Partnerships
The Vechain project is going from strength to strength thanks to the outstanding business partnerships they are forming.
“As of today, VeChain has established partnerships with PricewaterhouseCoopers, DNV GL, Renault Group, KUEHNE+NAGEL, D.I.G., China Unicom, etc., and accumulated extensive experience in an ever expanding list of industries including pharmaceuticals, liquor, auto, luxury goods, retail, logistics, supply chain,food and cold storage and more.” VeChain, Reddit, 2018
Other partners include:
Directed Imported Goods
Healthcare Co Ltd
Jiangsu Printed Electronics Co Ltd
Kuehne & Nagel
Xiamen Innov Information Technology Co Ltd
VeChain (VEN) Price
As you can see in this lifetime chart from coinmarketcap VeChain is showing fantastic gains thanks to new adoptions off the back of their business partnerships.
Where to buy Bitcoin
Before you can buy alt coins like VEN you have to first acquire some Bitcoin. Here are a few places that you can purchase bitcoin:
|USA||UK||Finland||Isle of Man|
How to buy Vechain (VEN) tokens on Binance.com – Step by Step
Step 1: Visit the Binance website
Step 2: Complete the signup process
Step 3: Enable 2-Factor Authentication & SMS Authentication to keep your account safe
Step 4: Deposit Bitcoin onto the exchange
You’ll need to deposit your Bitcoin to be able to buy other cryptocurrencies. Click on ‘Funds’ and then ‘Deposit Widthdraws’.
Search for Bitcoin and then click deposit
You’ll then see your bitcoin deposit addess, hit copy and send bitcoin from your coinbase account or whichever wallet you are holding it in.
Step 5: How to buy (VEN)
Head to the Exchange tab at the top of the site
Search for Ven on the right hand side. If you select ‘Market’, Binance will buy at the best price possible. But if you wanted to do a ‘Limit’ order, you can set the amount you want to buy at. For transactions that are still open, they are listed under the ‘Open Orders.
It’s as easy as that, transfer your bitcoin to Binance and buy into as many alt coins as you wish.
How to store VEN Cryptocurrency
The guidance and safe advice is to store your cryptocurrency outside of the exchange either in a hardware wallet or your own private wallet with your own keys. Users who leave their money in the exchanges do so at their own risk and as history has shown, exchanges are in danger of being hacked. Below are two ways in which you can store your VeChain tokens safely.
Hardware wallets made by Ledger and Trezor support the storage and sending of VeChain. Always buy from the official product website or Amazon, don’t buy these second hand as they may have been hacked.
MyEtherWallet can store any coin on the Ethereum blockchain, includind VeChain.
*Note this is liable to change under the rebrand happening in March/April 2018
The future of VeChain
Blockchain technology is disrupting and revolutionizing the global supply chain management process as you read this article. This breakthrough in innovation is the hottest topic in the industry. We’re seeing more and more multinational companies partner and adopt this technology with success.
VeChain has a lot going for it, a string management team backed by a solid foundation, business partnerships with industry leading companies and most importantly a strategy that will see them move from strength to strength. VeChain (VEN) is a cryptocurrency to keep an eye on in 2018.
VeChain Apotheosis: The Beginning (Including a rebrand announcement)