VeChain is a blockchain project designed to promote supply chain management process. VeChain seeks to build an ecosystem that powers transparent information flow, enhanced collaborations, and high-speed value transfer. Upon joining the market, VeChain specialized in the distributed ledger and Internet of Things technologies. VeChain allows manufacturers to assign products with RFID (radio-frequency identification) identifiers, which record information across the supply chain. Since its inception, VeChain has offered real-world solutions for businesses in different sectors across the world. The platform has partnered with popular platforms like Directed Imported Goods, DNV GL Healthcare Co Ltd, Hyperledger, Jiangsu Printed Electronics Co Ltd, Kuehne & Nagel, MadeForGoods, Microsoft, PwC and Renault.
The platform provides retailers and consumers with the ability to determine the quality and authenticity of products that are bought. Every information about the supply chain movement of a product can be recorded and verified to bring about a supply chain management ecosystem that is secure for all involved parties. VeChain’s network has two systems that are VeThor (VTHO) and VeChain (VET). VTHO is for the underlying cost of utilizing VeChain and is used once certain blockchain operations are conducted. On the other hand, VET serves as a value-transfer medium that enables quick value circulation within the ecosystem based on VeChain. VTHO tokens are generated automatically via holding VET tokens. The VTHO tokens can be transferred and traded.
By press time VeChain was trading at $0.004897 ranked in the 35th position with a market capitalization of $ 271,575,057. Here are the best VeChain wallets to consider.
The Ledger Nano S
The Ledger Nano S is a multi-cryptocurrency wallet that supports VeChain among other popular assets like Bitcoin, Ethereum, Bitcoin Cash among others. This hardware wallet is popular based on its unique security features. To manage your VET using the Nano S, you will need a computer USB port and a Google Chrome extension. The setup process is straightforward, while the interface is easy to navigate. This wallet comes with the 2-factor authentication feature, a secure PIN code, and recovery seed accessibility. The Ledger also has a built-in OLED screen, that allows you to check the transaction details with a double-tap button.
Being an HD wallet, the Leger will enable you to control many accounts for all supported cryptocurrencies. This means that all cryptos stored here will be secure with the same backup key. We also have the Ledger Nano X, a Bluetooth enabled secure device that stores your private keys. You can access your VeChain via a live ledger mobile app.
VeChain Thor Wallet
The VeChain Thor Wallet is the official wallet for the VeChain network. The wallet is compatible with mobile devices under Android and iOS. This wallet is lightweight, secure, and it connects you to the VeChain blockchain. From a security perspective, this wallet supports the two-factor authentication feature. With this mobile wallet, you can send and receive VET and VTHO tokens by interacting with the friendly and intuitive user interface.
The VeChain Thor Wallet has a built-in feature that allows users to swap tokens. At the moment, the wallets enable exchanging of VEN tokens for VET tokens. As a staking coin, the Vechain Thor Wallet allows users to claim their VTHO rewards. Additionally, this wallet will enable users to observe addresses. This capability allows you to view transactions held outside your mobile wallet. This can be useful when holding funds in a separate wallet such as a Ledger Nano S.
The Trezor Wallet
Trezor is another popular hardware wallet with outstanding security features. Apart from offering support for VeChain, the Trezor wallet is compatible with assets like Bitcoin, Bitcoin Cash, Ethereum, and XRP. To access the wallet’s interface, you will need to connect to a computer via the USB port. The setup process is very straightforward and easy. Storing your VeChain with Trezor allows you to interact with the best security features like the advanced cryptography, buttons, and a built-in screen so you can manually verify all transactions and secure PIN protection.
This wallet also has a small OLED screen used to indicate a randomly generated nine-digit pin code and a 24-word recovery seed to keep your funds safe while you are offline. In the event you lose access to your wallet, Trezor allows you to set up the backup in a process that takes about five minutes. Based on these features, Trezor ranks among the best Vechain wallets.
The Atomic Wallet
This VeChain wallet is compatible with Windows, macOS, Ubuntu, Debian, and Fedora. On mobile, it is compatible with Android and IOS devices. Apart from VeChain support, Atomic wallet also supports other popular cryptocurrencies like Bitcoin and Ethereum. One benefit of using the Atomic wallet to store VeChain is that users stay anonymous and secure by advocating decentralization in the process. You can also swap your VET and VETH tokens within the wallet thanks to an inbuilt exchange powered by Changelly and ShapeShift. Note that most Atomic Wallet features are free, but you can incur certain charges at different levels.
While selecting a wallet to store your VeChain, security should be an essential feature to consider, and the Atomic Wallet got you covered. It comes with high-level encryption and custody-free solution. Since its an open-source wallet, you can monitor all the code changes. Note that personal data on passwords and private keys never leave your device since it is locally stored.
MetaMask is a popular ERC-20 tokens wallet with a good market reputation. This wallet also supports VeChain among other assets like BAT. This self-hosted wallet enables users to manage VET and VTHO tokens with ease. It has an HD wallet that provides a mnemonic phrase that you can keep as a backup. MetaMask has a secure identity vault, an intuitive user interface to manage your identities on different sites. The wallet is accessible through Chrome extension Firefox, Opera, and the new Brave browser. However, this wallet might be challenging for individuals not conversant with the cryptocurrency world.
MyEtherWallet is compatible with both the Ledger Nano S and Trezor wallet, giving it an extra layer of security. This web wallet supports VeChain and other popular ERC-20 tokens. Additionally, security features that come with MyEtherWallet are like local storage of data, being open source, and the ability to generate new wallets to store ERC-20 tokens. It means that when you create a new wallet, you are responsible for safely backing it up. Within this wallet, you can Swap your VeChain tokens thanks to a partnership with Bity, Kyber Network, Changelly, and Simplex.
This wallet supports multiple cryptocurrencies, including VeChain, and it has a reputation for an easy interface. It is compatible with both mobile and desktop devices. On mobile Eidoo Wallet works perfectly with both Android and iOS devices. On PC we have support for Windows, Mac and Linux Operating Systems. At the moment, the wallet supports most of the ERC-20 tokens. This HD wallet can be backed up using a passphrase while at the same time allowing users to store their private keys on their devices. The app is available on Android and iOS devices and is a suitable choice for beginners and anyone who likes convenient access to their funds.
The market has numerous VeChain wallets and settling on the one that suits your needs can be challenging. Therefore, ensure you conduct sufficient research to avoid losing your funds. Always look at the security features of the wallet before using it.
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