VeChain (VEN) is now currently called VeChainThor (VET) because of its partnership with BMW. With this rebranding, VEN coins are now called VET. Founded in 2015 and based in Singapore, it is one of the older players in the blockchain space.
Its platform, VeChainThor, is where familiar use-cases of the blockchain are being tested and applied: Cold-chain logistics, automobile, medical and healthcare, and luxury/fashion.
If you want to have your own VET coin, here’s how.
*Cold-chain Logistics – they can track metrics, data management, and process sharing that makes cold-chain logistics secure and reliable.
* Automobile – their platform can record all the history of the car from repairs, insurance, registration, and even the driver’s behavior. The data will go to the owner/s. This is perfect for PUV operators in the country.
* Medical and Healthcare – It can track a medical device from its production towards its usage. With the authorization from the patient, it can also send their biometric data to their doctors.
* Luxury and Fashion – Brands can monitor their sales and avoid illegal overstocking by embedding a smart chip. This chip can also let customers know that what their buying is legitimate.
How to Buy VeChainThor in the Philippines
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Unlike Bitcoin, VET is not easily accessible in the country. You can only get VET by trading in cryptocurrency exchanges such as Binance.
Buy VET in Cryptocurrency Exchanges
Since you can’t get VET using Philippine fiat money, the three most common cryptos used for trading are bitcoin, ether, and litecoin. We will recommend using Binance in exchange for Bittrex in this article but you can also use crypto exchange sites of your choice.
You may notice that we used a Bittrex article on how to transfer BTC, but the process is almost the same.
Step by Step Guide to Buy VET from the Philippines using Binance
Binance is one of the largest cryptocurrency exchanges in the world in terms of volume. Here’s how you can purchase VeChain Thor from Binance.
- Send Bitcoin from your Coins.ph or Abra accounts to your BTC wallet in Binance.
- You can also use Buybitcoin.ph and use the Binance BTC wallet as your destination address.
- Go to Binance’s VET page.*
- Buy VET using instructions from this article.
- Depending on how much worth of VET do you want, proceed to transfer your VET coins to a VET wallet.
*Some cryptocurrency exchanges may still carry the VEN name.
- Ledger Wallet
- Ethereum Mist DApp
You can check the thread HERE for details about the rebranding.
Other Ways to Buy VET
You can click HERE to check other cryptocurrency exchange sites.
Can I keep my VET at Coins.ph and Bitbit?
No, Coins.ph currently supports BTC, ETH, and BCH while Bitbit only supports BTC as of this writing.
VEN or VET is here to stay. With its new partnership with BMW, more or less this token will get a boost.