In this guide you’ll get information about where to buy Velo, if you are planning to buy VELO token – You’re in the right place!
Velo Lab is the advanced decentralized financial protocol (with blockchain basis) that enables borderless asset transfer and digital credit issuance by using smart contract technology. Although the focus of the platform is for business, it doesn’t mean that individuals can’t use it. The platform is designed for everyone, encouraging digital adoption for future financial services and usages.
Velo Protocol is the one responsible for powering the platform. The protocol wants to build a unique (federated) credit exchange network that will allow digital operation and management for credit issuance and asset transfer. Its main mission is to help partners manage secure and safe transfer value between one another in a transparent and timely manner.
The platform allows partners to create and issue digital credits through smart contract. It’s possible that they gain access to Stellar Consensus Protocol that can settle and process transactions. Through its ecosystem, Velo makes it possible for multiple businesses to issue digital credits with collateral-backed system.
Velo (VELO) Features
- Digital credits. The protocol is able to issue digital credits, meeting the need of businesses without creating extra burden. Users won’t have to deal with digital credit’s management or creation on their own.
- Lending. With Velo, lending mechanism can be streamlined, digitized, and transformed in more efficient and cheaper manner. The platform can bypass the traditional banking system and its infrastructure, enabling digital and modern way to take place.
- Cross border remittance. Agents of the trusted partners are able to directly connect to each other (through digital manner too) rather than having to go through multiple and complex settlement layers of the regular and traditional financial way. In the end, it can save up costs, speed up the processing, and improve transparency.
- Loyalty points. Velo is able to improve gift points and loyalty’s fungibility, which is issued by the trusted partners. They can do it through secondary market enabling for digital credits and points issued by Velo Protocol.
- Convenient payments. Velo is able to connect different markets, acting as a widespread (payment) gateway for physical and also digital payment points.
Where to Buy, Sell and Trade Velo
You can basically use debit card, credit card, or even PayPal to buy the Velo (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Velo as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy Tether first. After you get the ETH or BTC or USDT, you can convert it to Velo. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports Velo currency and exchange your Ethereum / Bitcoin / Tether with the Velo
- Store your Velo to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT)
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
Get $10 Bonus when you sign up for Coinbase!
- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying Velo, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with Velo:
IMPORTANT! Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the VELO/BTC or VELO/ETH or VELO/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you VELO/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Velo (VELO)
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Velo (VELO) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy Velo (VELO) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Velo. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Velo (VELO) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy Velo (VELO) with Skrill?
You can’t buy VELO directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Velo. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Velo (VELO) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair VELO/BTC and begin the transactions.
Can I Buy Velo (VELO) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support VELO/ETH trading pair.
What Is the Best Payment Method to Buy Velo (VELO)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Velo right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Velo (VELO)?
Once you have purchased the Velo, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Velo (VELO)?
Find a crypto exchange which allow pairing VELO with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Velo (VELO) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Velo is to buy it from a reliable exchange.
In the old days, companies that issue its own digital credit were rare. It would be impossible, especially without the tech and the resources. However, Velo and its technologies have elevated lending system to a more modern and digital manner, eliminating fuss and complication. The platform is open for everyone who wants to join, but they must buy Velo (VELO).