What is VeChain (VET)?

Vechain (VET) cryptocurrency is developed to provide logistics and track related business solutions with the help of Distributed Ledger Technology (DLT). VET was founded in 2015 by Sunny Lu, the co-founder of BitSE. It was launched as a token VEN on the Ethereum blockchain and offered $ 20 million as a crowd sale. Later, this digital asset introduced its own VeChainThor blockchain and converted its VEN tokens to VET in the ratio of 1:1000. Along with VET there also exists VeChainThor Energy (VTHO) as the native tokens of its blockchain, which is used to transfer value across VeChain's network. It works to provide a complete view of all the information and business processes related to a product to create a more comprehensive view of market transparency. VeChain's client list includes some of the prominent players like BMW, Deloitte, Walmart and H and M. The total supply limit of VET tokens is 86.712 billion at the time of writing.

How Does VeChain (VET) work?

VeChain has two currencies that help the network to follow smooth economics: VET and VTHO. VET acts as "smart money" and helps settle the smart contracts across the network, and VTHO is used to pay for the transactions on the blockchain.

Interested businesses use Vechain's blockchain product "ToolChain" to streamline and monitor their supply chain and logistics. VeChain provides smart chips that broadcast all information about products onto the blockchain network and makes it accessible to the respective shareholders. The unique VeChain IDs are assigned to products to document and verify their movement easily. To track its supply chain and to add more information to the blockchain, a company has to pay a VTHO to VeChain. Any enterprise's priority and access to use Vechain blockchain resources directly depend on the number of VET tokens they hold. Also, VET holders can easily earn VTHO by staking their VET tokens on any supportable wallet for the required time.

How to Buy VeChain (VET) in India?

There are many platforms where you can invest and trade VET in India.

One such platform is Flitpay. To buy VET in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy VET and execute the VET purchase.

You can instantly convert your INR to VET and VET to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After I Buy VeChain (VET)?

VeChain (VET) can be used to buy other cryptocurrencies after converting them to INR through crypto exchanges like Flitpay.  You can also hold VET till it reaches a high price and then sell it through the Flitpay Quick Buy/Sell order facility. Users can earn significant profit from buying it at a lower price and selling it at a higher price.

VET can also be staked in some supported wallets to generate the VTHO. You can use these generated VTHO to make transactions on VechainThor without paying any extra cost.

FAQs

What is VeChain (VET)?

VeChain (VET) is one of the native cryptocurrencies of VeChain, a smart contract blockchain. It focuses on supply chain needs and transfers value across the network through distributed ledger technology (DLT). It also plays a significant role in running the blockchain, VeChainThor.

What is the VeChain (VET) price in India?

Check out the current INR price of VET crypto in India on Flitpay.

Which is the best platform to buy VeChain (VET) in India?

The best crypto exchange to buy VET or your favorite cryptocurrencies in India is Flitpay. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the Benefits of VeChain (VET)?

Vechain (VET) helps businesses in streamlining their logistics, supply chain, and tracking processes. It claims to provide a completely transparent view of all the information and business processes related to a product.

Is it safe to invest in VeChain (VET) in India?

Yes, investing and trading VeChain is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges to buy VET. It offers the most real-time prices and advanced investing features.