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How to Buy Velas (VLX)

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Are you interested in buying Velas (VLX) or exploring other cryptocurrencies? You've come to the right place! Explore all the ways you can buy Velas (VLX) with this guide. KuCoin supports over 700 cryptocurrencies and is constantly adding more crypto gems to our platform. Although KuCoin currently does not support Velas (VLX), we will show you how you can buy this digital asset in the step-by-step guide below.

Where Can You Buy Velas (VLX)?

There are several ways to get Velas (VLX). Here are some of the most popular options you can choose from:

Centralized Exchanges (CEXs)

Buying Velas (VLX) through an exchange or a broker is fast and easy for beginners. When choosing a centralized exchange, make sure that it supports Velas (VLX). Confirm that your selected exchange has solid security, liquidity, and a competitive fee structure.

Crypto Wallets

If security and complete control over your crypto assets are your top priorities, you may wish to buy and store Velas (VLX) using a non-custodial wallet, such as KuCoin Wallet or MetaMask. The leading Web3 crypto wallets allow you to buy or swap thousands of cryptocurrencies easily. Find a reputable crypto wallet browser extension or download the wallet on your smartphone. Create or import an existing crypto wallet address to store, send, and receive crypto and NFTs.

Decentralized Exchanges (DEXs)

In contrast to centralized exchanges like KuCoin, decentralized exchanges provide trustless crypto swapping based on self-executing smart contracts. Decentralized exchanges like Uniswap support buying and trading of thousands of crypto trading pairs. Most tokens are on EVM-compatible blockchains such as Ethereum and Polygon. To interact with a DEX, you will need to connect to the DEX using a compatible wallet such as MetaMask.

How to Buy Velas (VLX): A Step-by-Step Guide

  1. 1

    Buy Velas (VLX) on a Centralized Exchange

    A centralized exchange is the simplest and most common way to buy, hold, and trade crypto. Here's how you can buy Velas (VLX) via a centralized exchange:

    1. 1. Choose a CEX: Select a reliable and trustworthy crypto exchange that supports Velas (VLX) purchases. Consider the ease of use, fee structure, and supported payment methods when choosing a crypto exchange.
    2. 2. Create an account: Enter the required information and set a secure password. Enable 2FA using Google Authenticator and other security settings to add an extra layer of security to your account.
    3. 3. Verify your identity: A secure and reputed exchange will often ask you to complete KYC verification. Information required for KYC will vary based on your nationality and region. Users who pass KYC verification will have access to more features and services on the platform.
    4. 4. Add a payment method: Follow the instructions provided by the exchange to add a credit/debit card, bank account, or other supported payment method. The information you need to provide may vary depending on your bank's security requirements.
    5. 5. Buy Velas (VLX): You are now ready to buy Velas (VLX). You can easily buy Velas (VLX) using fiat currency if doing so is supported. You could also do a crypto-to-crypto exchange by first purchasing a popular cryptocurrency such as USDT, and then exchanging it for your desired Velas (VLX).
  2. 2

    Buy Velas (VLX) via a Crypto Wallet

    You may buy certain cryptocurrencies directly via a crypto wallet. If supported by your wallet, you can buy Velas (VLX) through the following steps:

    1. 1. Choose a wallet: Select a reliable and reputable crypto wallet that supports Velas(VLX).
    2. 2. Download the app: Download the wallet application to your device from the Google Play Store, App Store, or as a browser extension.
    3. 3. Create a wallet: Create a new wallet address or import an existing one if you already have one. Make sure you write down the seed phrase and keep it in a secure place. No one can help you access your wallet if you lose your seed phrase.
    4. 4. Buy Velas (VLX): Purchase the cryptocurrency using a supported payment method. Check the fees, since they may be higher than what exchanges charge.
    5. 5. Swap for Velas (VLX): Alternatively, if your wallet doesn’t support direct fiat-to-VLX purchases, you can first buy a more popular cryptocurrency like USDT, and then exchange it for Velas(VLX) through your crypto wallet or on a decentralized exchange.

    Most crypto wallets that support fiat-to-crypto purchases don't directly handle payments but instead use third-party payment processors. Check and make sure you are okay with their fees before making purchases.

  3. 3

    Buy Velas (VLX) on a Decentralized Exchange (DEX)

    When buying Velas (VLX) from a decentralized exchange, you are connected with sellers directly, without any intermediaries. DEXs are a good alternative for users who want more privacy as there are no sign-up or identity verification requirements. You will maintain full custody of your crypto assets via self-custodial wallets. Follow the step-by-step guide to learn how to buy Velas on a DEX.

    1. 1. Choose a DEX: Select a decentralized exchange that supports Velas (VLX). Open the DEX app and connect your wallet. Make sure your wallet is compatible with the network.
    2. 2. Buy base currency: To buy VLX, you will first need to have the base currency as DEXs currently only support crypto-to-crypto exchanges. You can buy the base currency from a secure centralized exchange such as KuCoin.
    3. 3. Send the base currency to your wallet: After purchasing the base currency, transfer it to your web3 wallet. Note that transfers may take a few minutes to complete.
    4. 4. Swap your base currency for Velas (VLX): You are now ready to swap your base currencies for Velas (VLX).

    Make sure you have enough blockchain native tokens, such as ETH on the Ethereum blockchain, to pay for transaction fees. Also, pay attention to slippage and adjust slippage tolerance according to your preferences.

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How to Store Velas (VLX)

The best way to store Velas (VLX) varies based on your needs and preferences. Review the pros and cons to find the best method of storing Velas (VLX).

Store Your Velas (VLX) on an Exchange

Holding your funds on an exchange provides the most convenient access to investment products and features, such as spot and futures trading, staking, lending, and much more. The exchange will securely hold your funds, so you don't have to go through the hassle of managing and securing your private keys. However, be sure to select an exchange that implements strict security measures so you can rest assured that your crypto assets are safe and in good hands.

HODL Your Velas (VLX) in Non-Custodial Wallets

"Not your keys, not your coins" is a widely recognized rule in the crypto community. If security is your top concern, you can withdraw your Velas (VLX) to a non-custodial wallet. Storing Velas (VLX) in a non-custodial or self-custodial wallet grants you complete control over your private keys. You can use any type of wallet, including hardware wallets, Web3 wallets, or paper wallets. Note that this option may be less convenient if you wish to trade your Velas (VLX) frequently or put your assets to work. Be sure to store your private keys in a secure location as losing them may result in the permanent loss of your Velas (VLX).

What Can You Do with Velas (VLX)?

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Hold

Store your Velas (VLX) assets on a CEX or in a self-custodial wallet.
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Trade

Trade Velas (VLX) on supported platforms.
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Earn

Use your Velas (VLX) to engage in staking, lending, or yield farming to earn passive income.

FAQ

  • Is Velas (VLX) a Good Investment?

    Velas could be an exciting crypto asset to include in your portfolio as the project has growth potential, especially as Web 3.0 goes mainstream. The rising adoption of the Velas ecosystem by dApp developers and users looking for a more scalable and low-cost alternative to Ethereum could power a strong uptrend in the VLX price statistics.

    As Ethereum continues to face issues with network congestion and high gas fees, potential Ethereum killers like Velas could rise to prominence in the future. Several supporting factors could keep the Velas price and market capitalization ticking higher as it is one of the fastest blockchains with EVM compatibility.

    The Velas price could also register an uptick amid a bullish mood in the crypto market. Higher buying activity across leading altcoins bolsters investor confidence and could potentially drive the VLX price back towards its highest price and possibly make a new all-time high.

  • What is the Velas (VLX) Price Prediction?

    Although it is impossible to offer an accurate Velas price prediction over any duration, here’s a list of critical factors that could influence a price change in the VLX token:

    Level of Adoption of Velas Network

    Higher interest among dApp developers and end users could increase the on-chain activity on the Velas blockchain. This, in turn, would drive up the value of VLX crypto in the market.

    Staking Activity

    An uptick in the number of validators and token holders staking $VLX could also help increase the value of Velas crypto. When more validators stake VLX and participate in securing the network, the blockchain becomes more resilient to attacks, and the value of its native token also climbs higher.

    Crypto Market Sentiment

    Positive sentiment towards digital assets supports investor confidence and encourages buying and holding activity across the board, supporting the price of Velas and other tokens. On the other hand, a bearish sentiment or risk-averse mood in global financial markets drives sell-offs which could lower the VLX price.

  • What is the VLX Token Used For?

    VLX is the native cryptocurrency of the Velas Network. The following are some of its use cases:

    Transaction Fees

    $VLX is used to pay transaction fees when using the Velas blockchain to transfer payments, execute smart contracts, or interact with dApps.

    Staking

    As a DPoS blockchain, Velas supports staking VLX crypto towards making its ecosystem more resilient to attacks. As a $VLX holder, you can stake their crypto on the blockchain and participate as validators, contributing to block production and transaction validation. In exchange for your efforts, you can receive rewards in VLX tokens and earn passive income to grow your crypto portfolio.

    Crypto Asset to Invest in and HODL

    You can trade Velas against other cryptocurrencies in the market or invest in it for the long term. Buy or sell VLX against other crypto assets or hold it if you believe in the future potential of the Velas project. Check the current price of Velas, VLX market cap, circulating supply, 24-hour trading volume, and the latest crypto news before you trade VLX.

  • How to Add Velas to MetaMask

    MetaMask is one of the most popular DeFi wallets in the crypto market and is a great option to let you store and manage your VLX holdings. Here’s how to add Velas Network to MetaMask:

    1. Download and install the MetaMask wallet app on your desktop or smartphone device.

    2. Create an account on MetaMask and set up your wallet if you are a new user.

    3. Click on the Account button and visit the Settings option.

    4. View the current networks available and click on the Add Network button.

    5. Enter the following details in the popup tab:

    Network Name: Velas Network

    New RPC URL: https://mainnet.velas.com/rpc

    Chain ID: 106

    Currency Symbol: VLX

    Block Explorer URL: https://evmexplorer.velas.com

    6. Click on Save after entering all details. Velas Network will now reflect in your MetaMask wallet, letting you store your VLX crypto securely in it.

  • How to Bridge VLX From BSC to Velas

    You can use the VelasPad bridge for cross-chain asset transfer between BSC, now BNB Chain, and Velas. Here’s how:

    1. Visit the VelasPad bridge and connect your wallet to the app. Ensure you have sufficient crypto funds to perform the transfer.

    2. Select VLX as the asset and enter BSC in the From option and Velas Network in the To option.

    3. Enter the number of VLX tokens you wish to bridge from BSC to Velas Network and click on Swap to process the transaction.

    4. Confirm the transaction through your wallet and approve it to submit your swap request.

    5. Once the swap process is complete, you will receive the newly swapped tokens on the Velas Network.

  • How to Stake Velas (VLX)

    Staking $VLX is a great way to help secure the Velas ecosystem and earn rewards. Read on to know more about how to stake VLX on Velas:

    1. Create an account with Velas Wallet, the official wallet of the Velas Network. Fund your wallet by buying $VLX on KuCoin or other supported platforms and withdrawing the tokens into your Velas Wallet.

    2. Visit the Staking Page and select the Delegator option.

    3. Review the available staking pools and select one.

    4. Enter the number of VLX tokens you wish to delegate and stake via the selected pool.

    5. Click on Apply and then Confirm the transaction.

    6. You can also stake as a validator if you have a minimum of 1 million $VLX for staking. For this option, you must select Node on the Staking Page and stake your VLX crypto.

    7. Sit back and earn rewards in $VLX crypto for your delegated staking activity.

Alternative Ways to Buy Velas (VLX)

In addition to the more popular methods discussed above, there are also alternative ways of buying Velas (VLX), including:

Peer-to-Peer (P2P) Crypto Exchanges

Peer-to-peer (P2P) exchanges connect buyers and sellers directly, allowing you to buy or sell crypto using various payment methods. With P2P trading, you have more freedom to select your preferred offers and trade directly with counterparties. But keep a watch out for potentially unfavorable rates and scammers.

Crypto ATMs

With crypto gaining mainstream adoption, more and more crypto ATMs are being installed worldwide. You can buy Velas (VLX) using a crypto ATM near you if it is supported.

Crypto Gift Cards

Buying crypto with gift cards is still a relatively underused method, but a good one. You can easily create an account via a gift card and exchange for Velas (VLX) when supported.

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Disclaimer

Given the nature of the crypto market, the price of Velas (VLX) is subject to high market risk and price volatility. We recommend you invest in digital assets only after you understand how they work and their associated risks. Other factors to consider when devising your crypto investment strategy include your experience level, financial situation, investment objectives, and risk tolerance. You could also consult an independent financial advisor before buying cryptocurrencies. The above information is not financial advice, and past performance is not a reliable indicator of how the market will fare in the future. The value of your investments and assets may rise or fall based on market conditions, and there is no guarantee that you will get back the amount you invest or profit from your investments. Your investment decisions are your sole responsibility, and KuCoin is not responsible for any losses you may incur when you buy crypto on its platform. We rely on third-party sources for price and other data related to the cryptocurrencies listed above, and we are not responsible for its reliability or accuracy. The information is provided to you solely for informational purposes and is not warranted by KuCoin.