How to Buy Venus Reward Token (VRT) in 2022: A Simple Guide

Venus Reward Token (VRT)In this guide you’ll get information about where to buy Venus Reward Token, if you are planning to buy VRT token – You’re in the right place!

The world of DeFi is filled with many new platforms, enabling users to optimize their crypto holdings by taking part in their unlimited offerings to the crypto space. One of the fantastic protocol for lending and borrowing crypto assets is Venus. Although it’s inspired by Compound Finance and Maker DAO, it emerged as a totally new platform. This protocol allows DeFi users to lend their crypto assets in a seamless way. As a return, lenders can earn interest. From the market, users can also borrow assets, of course by paying interest. This relation creates a secure and fair environment for borrowing and lending assets.

The most intriguing part is that Venus is more than just lending and borrowing of assets. Built on the Binance Smart Chain, it also enables users to mint stable coins, earn cryptocurrencies, and many more, at cheaper transaction cost compared to other protocols deployed on Ethereum network.

Venus Reward Token (VRT) Features

  • Secured Network. Because the Venus network is deployed on BSC, it is designed to meet the characteristics of BEP-20 standard protocol. BSC secures the Venus and other protocols with Proof of Staked Authority (PoSA) model. In this model, two different protocols are used, allowing for automation. Through this automation, the liquidation on the network is secured since all collaterals that go down below 75% are liquidated by design to control the collateralization ratio.
  • User-Friendly Network. With its user-friendly design, users can access the lending protocol to borrow and lend crypto-based assets easily. The network helps users to calculate how much loan they are taking based on the deposited collateral. More importantly, they can deposit multiple cryptocurrencies to borrow crypto funds with low and transparent fees in the automated market without any intermediaries.
  • Automated Lending Services. Enabling automated decentralized lending services is the main role of the Venus platform. Hare, lenders can earn VRT based on their deposited funds. In addition, they can also mint over-collateralized stablecoins on the platform. All transactions are performed instantly and quickly, which makes taking a loan efficient and effective, without requiring centralized authorities or credit checks.

Where to Buy, Sell and Trade Venus Reward Token aka VRT

You can basically use debit card, credit card, or even PayPal to buy the Venus Reward Token (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Venus Reward Token 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 Venus Reward Token. 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:

  1. You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
  2. Find a crypto exchange that supports Venus Reward Token currency and exchange your Ethereum / Bitcoin / Tether with the Venus Reward Token
  3. Store your Venus Reward Token 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.

The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.

Get $10 Bonus when you sign up for Coinbase!

coinbaseClick here to register (opens in new tab)

  • 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 Venus Reward Token, 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 Venus Reward Token:

GATE.io
gate.ioGate.io is a crypto exchange service that is part of Gate Technology Inc. Gate.io is registered in Virginia, United States, and founded in 2017. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions.

  • Deposit Methods: Cryptocurrency Only
  • Fiat Currencies: N/A
  • Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 1040+ more
  • Trading Pairs: 1801+

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 VRT/BTC or VRT/ETH or VRT/USDT trading pair and then place the order to buy those pairing cryptocurrencies.

Most likely you’ll find this pair available to you VRT/USDTso you need to convert your BTC or ETH to USDT first in order to buy Venus Reward Token (VRT)

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 Venus Reward Token (VRT) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

ledger nano x

LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

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 Venus Reward Token (VRT) 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 Venus Reward Token. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy Venus Reward Token (VRT) 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 Venus Reward Token (VRT) with Skrill?

You can’t buy VRT directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Venus Reward Token. You can buy BTC/ETH with skrill by using these exchanges::

  • LocalBitcoins
  • Paxful
  • Virwox
  • SpectroCoin
  • Lykke
  • Exmo
  • Coingate

Can I Buy Venus Reward Token (VRT) with Bitcoin?

Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair VRT/BTC and begin the transactions.

Can I Buy Venus Reward Token (VRT) with Ethereum?

Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support VRT/ETH trading pair.

What Is the Best Payment Method to Buy Venus Reward Token (VRT)?

The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Venus Reward Token right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect Venus Reward Token (VRT)?

Once you have purchased the Venus Reward Token, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:

Ledger Wallet

Trezor Wallet

 

 

 

 

 

 

How to Sell Venus Reward Token (VRT)?

Find a crypto exchange which allow pairing VRT 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 Venus Reward Token (VRT) 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 Venus Reward Token is to buy it from a reliable exchange.

Conclusion

There have been many lending platform in the DeFi market, but Venus stands out because it some unique qualities that other similar networks don’t have. The network offers low transaction fees, fast loans, and over-collateralization so that users can lend and borrow crypto seamlessly. With the increasing demand for DeFi services, the project and the Venus Reward Token (VRT) have the potential to become one of the most popular lending systems and tokens in the market.

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