How To Buy Vertcoin Online in 2022
There are many reasons why cryptocurrency enthusiasts have a genuine interest in Vertcoin. If you are interested in buying VTC coins, it's always a good idea to research the project before making any decisions.
To make this a bit easier for you, we will be going over everything you need to know about Vertcoin, from the payment message to the storage options and a lot more.
Best brokers to buy Vertcoin in 2022
If you are interested in buying VTC for the first time, you need to know that hundreds of options will allow you to do so. While this process can be tedious, we have created a list of some of the best brokers you can pick from today to make things easier for you.
What Is the Difference Between Buying and Trading Vertcoin?
There are several ways to profit from VTC. The main ones we will explore here are buying VTC coins and trading VTC coins.
Both of them might seem similar if you are not that experienced; however, they differ from each other in numerous ways, and we'll go over exactly how.
Buying Vertcoin: When you decide to buy VTC coins, you will essentially have complete ownership over the coins. This means that you can use them for just about anything, from buying services or products at supported vendors to purchasing other cryptocurrencies. This is because they get stored in your cryptocurrency wallet, giving you complete control over them.
Trading Vertcoin: When we look at trading Vertcoin, on the other hand, in this case, you are essentially buying the underlying assets with the primary goal of gaining profits based on the market movement of these VTC coins. This means that you do not actually own the VTC coins directly.
How To Buy Vertcoin Online?
Discussing how to buy Vertcoin (VTC), you can follow this set of steps we have prepared for you to complete the process efficiently:
Step 1: Find a cryptocurrency exchange that has the VTC coin in its listings.
Step 2: Complete a Know-your-Customer (KYC) documentation procedure. Simply submit a copy of your photographic ID, such as a government-issued ID, driver's license, or passport, as well as proof of your home address, such as a utility bill, for example.
Step 3: Once you verify your account, you can start funding it with FIAT currencies.
Step 4: Buy your VTC and put your coins in a secure wallet that you have complete control over.
How To Trade Vertcoin?
When trading Vertcoin, the process is different when compared to just buying VTC coins.
Step 1: Find a broker that lets you trade Vertcoin.
Step 2: Pass the Know-your-Customer (KYC) check to verify your account correctly. This will typically be a mandatory step and will unlock all of the platform's capabilities in question.
Step 3: Fund your account by using a payment method that works best for you, and go over all of them so you can make a solid decision.
Step 4: Choose how you want to trade VTC assets.
Step 5: Buy the VTC assets.
What Are the Different Ways To Pay for Vertcoin?
You can pay for VTC coins in a multitude of different ways. You will need to deposit using fiat currencies on many platforms, assuming you do not already have access to cryptocurrencies. If you have cryptocurrencies, you can use those instead.
When making fiat deposits, many platforms support different types of deposit options, which harry in terms of their availability.
Let's go over some of the main ways you can pay for VTC coins, alongside their pros and cons.
Debit or Credit Card
The most widely accepted deposit methods will be debit cards or credit cards for the majority of the platforms you will be using. They are convenient; however, they are methods that typically feature the highest fees. You can use VISA or MasterCard in most cases, and all you need to do is enter some details and confirm the transaction.
The bank transfer deposit method is an alternative method that you can use to debit or credit cards, one that offers a high level of security but can be slower.
Some platforms will give you access to e-wallets, which means you can deposit by simply using PayPal.
This is a limited deposit option in terms of availability, but if the platform you end up using supports it, it might be a solid option.
If you already have cryptocurrencies in your own private cryptocurrency wallet, you can essentially use those and exchange them for VTC coins instead of using FIAT deposit methods. This method typically has the lowest fees.
What To Consider When Buying Vertcoin?
There are a few things that need to be taken into consideration when buying any cryptocurrency.
We have listed some of the most critical aspects of buying Vertcoin (VTC) that you need to be aware of before diving into the process of doing so.
To help you, we have listed some of the most important aspects that you need to consider.
Deposit fees: You will need to deposit on just about any platform you visit once you create an account and confirm your identity. Each of them will have its own deposit fees, which are typically based on a percentage. These are also dependent on the deposit method you have chosen to conduct the payment. Always review these before selecting a platform.
Selling fees: You also need to be aware of the selling fees, which occur each time you sell VTC coins. This percentage is adaptable and will decrease the larger trading volume you accumulate or based on the size of your transaction.
Volatility: VTC is a volatile cryptocurrency, which means that its value can drastically shift in either direction by significant percentages.
Availability: You might not find Vertcoin on every single platform out there, so it is always a good idea to double-check the platform you are using to ensure that it supports the coin in question.
Long-term holding: This is a type of strategy where you buy and hold on to the VTC coins for more than 12 months, hoping that they will increase in value.
Short-term holding: This is a type of strategy where you buy and sell the VTC coins in a period shorter than 12 months, betting on the short-term increase in the coin's value.
Is it safe to buy Vertcoin online?
When you end up buying VTC coins from a reputable platform that's fully regulated and operates with a license, you will have a safe experience without much to worry about.
What you need to keep in mind, however, is that you need to pick a platform that gives you an additional layer of security.
We have created a list of the things that you'll need to consider to increase your level of security when using any platform as much as possible.
Enabling two-factor authentication: Many modern platforms, especially ones with a dedicated application, will allow you to enable two-factor authentication on your account. This means that you can receive an additional layer of protection in the form of a code. You will receive a second code, through SMS or call, that you need to enter to access your account. Additionally, you can also enable biometric verification, assuming both the platform and your device support this authentication method.
Researching common scams: It is no secret that there have been scams within just about any industry out there. To protect yourself, you will need to go over and analyze some of the scams that have historically occurred, as the knowledge here will assist you in not making a mistake.
Reading platform reviews: You always have the option to read up some reviews about the specific platform you are interested in using, and if there are none publicly available, you can search up on forums for honest opinions.
Storing your coins in a wallet: You can keep your Vertcoin (VTC) coins in a private cryptocurrency wallet, which is essentially this wallet that gives you access to your private keys. The goal here is to have full ownership and control over your coins and for the wallet not to be directly connected to a platform.
Be careful about where you ask for help: There might come a time when you require additional assistance regarding the topic of cryptocurrencies. When that day comes, ensure that you only use reputable sources and never click on unknown links.
How To Store Vertcoin?
To store Vertcoin (VTC), you can use your own private cryptocurrency wallet that is not connected to any platform, which will give you full access to your private keys and provide you with a higher level of security.
There are multiple types of wallets out there. Let's go over the differences between software wallets and cold wallets.
Software wallets: These are wallets that you will typically find on the platform you are using, although you can also create a software wallet that you have full control over as well. These are also referred to as hot wallets because they have a constant internet connection, which means cybercriminals could potentially target them. Short-term traders mainly use them due to their convenience, but we do not recommend them for long-term holding.
Cold wallets: These are wallets that typically come in the form of a hardware device or a paper wallet. They can disconnect from the internet and give you the highest level of privacy and security due to this feature. They are on the more expensive side if you want a quality hardware wallet but are especially worth it if you're holding cryptocurrencies for over 12 months.
How To Sell Vertcoin?
There will come the point in time where you will decide that you want to sell your VTC coins. There are many ways through which you can sell Vertcoin (VTC).
To make this process as easy for you as possible and to show you some of the available options you have regarding selling the coin, we will go over some of the most common ones here.
Centralised cryptocurrency exchanges
These are the types of exchanges that will allow you to sell VTC coins directly, and all that's required for you to do is find a platform that lists VTC coins, and once you do so, you can send the crypto from your wallet to your account and put a sell order. The good part about these changes is that you can always sell your VTC coins with ease.
Peer-to-Peer (P2P) marketplaces
These are marketplaces that directly connect you with VTC buyers for you to sell to. In this case, the only time an intermediary will get involved here is when a dispute needs resolving. Keep in mind that there will always need to be someone willing to buy VTC coins from you, as you are directly selling to a buyer here.
Is It Worth Buying Vertcoin Right Now?
Vertcoin (VTC) is a volatile cryptocurrency, which means that it has historically seen its ups and downs in value.
It is a project which has been online since 2014, so it has stood the test of time and is a reputable project. That said, you are fully responsible for bearing any of the risks involved with buying VTC coins.
Vertcoin (VTC) is one of the older altcoins out there, which took inspiration from the most prominent cryptocurrency in the world, Bitcoin, but tried to make it better by making the mining process fairer. If you conclude that you want to buy VTC coins, we would highly recommend that you use Peer-to-Peer (P2P) marketplaces and cryptocurrency deposits for the most optimal outcome.