Vechain - Frequently asked questions

In this page you will find a general overview of the most frequent questions about vechain/$Vet/NFTs. If you are new on vechain or willing to start the journey in this amazing blockchain, we hope this information helps you to start your way in.
Vechain is the blockchain platform founded in 2015 by Sunny Lu, the former chief information officer at Louis Vuitton China. Vechain caters toward enterprise-level clients which is advantageous for utilizing the NFT. Since enterprise is its focus, two of the hallmarks of the Vechain blockchain are low gas fees and fast transactions.  $VET is the token for the vechain blockchain.
There are multiple exchanges where you can purchase $VET.  These include Coinbase, Binance, Kucoin, and others.  You can also obtain $VET from exchanges that do not directly sell $VET buy purchasing a coin such as ETH or DAI and trading those in a wallet like Exodus wallet.

An NFT or non -fungible token is a digital asset that is unique and lives on the blockchain. An example of a non-fungible token is a cryptokitty or a bored ape. Non fungible tokens have gained recent notoriety for sales of art and the 10s of millions of dollars. But non fungible tokens can take the form of art, music, video, literature, data, or almost anything else you can think of.

What you need to purchase an NFT varies depending on the NFT project.  But generally, you will need at least 3 things:
  1. $VET
  2. $VTHO (for ‘gas’ to pay for transactions)
  3. A vechain wallet- VechainThor wallet for mobile (apple or android), the Sync 2 wallet for desktop or mobile (apple or android) or VeWorld wallet, for desktop available as Chrome Extension, or for mobile (android or apple).

You may have seen headlines with individuals making significant amounts of money with NFTs.  Or you heard incredible stories of people making lots of money from NFTs.  Anyone investing in NFTs should keep in mind that NFTs are risky.  Never invest more than you can afford to lose.

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