This guide will show you how to buy and stake Verasity (VRA) token. We will also show you where to store your tokens after purchasing them. This guide assumes that you have a basic understanding of blockchain technology, cryptocurrency wallets and exchanges. If this is not the case, we recommend that you read our other guides:
What is Verasity?
Verasity is a next-generation video sharing platform that is disrupting the current video sharing platforms. Verasity is not just another video sharing platform, it is a blockchain based video sharing platform.
The company aims to improve the online experience of both viewers and content creators by providing an innovative new monetization model for all actors in online media. The token sale for their VERA token will begin on May 15th 2018 with a hard cap of $30 million USD raised through private sales and public crowdsale rounds until last July 31st 2018.
How to Buy Verasity?
Verasity is a blockchain-based content sharing platform that aims to disrupt the online video industry. The Verasity team believes that there are many problems with the current model, including low engagement and high ad costs.
Download Crypto Wallet
Crypto wallets are software that allow you to store and access your cryptocurrencies. There are many different types of wallets available, but the most popular ones are hardware and software wallets.
An easy way to think about crypto wallets is like a bank account. You can deposit money into your crypto wallet by transferring it from another cryptocurrency exchange or buying with fiat currency (USD). Once you have funds in your wallet, they’re safe until you decide to send them somewhere else as payment for goods or services.
Set Up Your Wallet
If you don’t already have a wallet, follow these steps:
Go to https://verasitytech.io/get-started/#wallet and download the Verasity Wallet app for your mobile device (iOS or Android).
Once installed on your phone, open up the app and tap “Create Account.” Follow all instructions until asked for a password; make sure it’s strong enough so nobody else can guess it easily.
You’ll also be prompted to add some funds so that whenever people send payments through this account they’ll go into yours instead — just enter how much money (in USD) that would equate to in crypto currency like Ether or Bitcoin before tapping Next Step.
Buy Ethereum as Your Base Currency
The first step to buying VRA is to purchase Ethereum (ETH), the base currency for Verasity. You can do this on an exchange, or in person using one of a number of different methods.
- Buy ETH with fiat currency (USD/GBP/Euros). This means that you would go to an exchange such as KuCoin, Coinbase or Binance and purchase Ethereum using USD from your bank account.
- Buy ETH with credit cards or bank transfers: If you don’t want any hassle with setting up accounts or verifying identities then this option might suit you best.
Choose a Decentralized Exchange (DEX)
Decentralized exchanges (DEXs) are the most secure way to trade cryptocurrencies. They allow you to keep control of your funds, so you never have to worry about them being lost or stolen.
In a centralized exchange like KuCoin, Binance or Coinbase Pro, your money will be held by the company itself which means that they can decide whether or not they want to let you withdraw it.
Send Ethereum From Your Chosen Exchange to Your Crypto Wallet
Go to your chosen exchange and select the “deposit” tab.
Find the cryptocurrency you want to send, in this case Ethereum (ETH), and copy its address. You can also check that this is a valid address by searching for it on Google and seeing if it matches with what’s shown on your chosen exchange’s website. If it doesn’t match, don’t send any funds.
Connect Your Wallet
The next step is to connect your wallet to the network. You will need to import your wallet address, which can be found in the ‘Receive’ tab of your chosen cryptocurrency wallet.
If you have copied down all of these numbers and letters, it’s time to connect them! In order for Verasity (VRA) Token transactions between parties to go through smoothly and securely, they need access points called nodes–these act as middlemen between two people who want their money moved around on a blockchain network but don’t necessarily trust each other enough yet for direct peer-to-peer transactions.
Trade Your Ethereum Or Bitcoin With Verasity VRA
- Trade Your Ethereum With Verasity VRA
If you already have ETH, then you can trade it for VRA on a decentralized exchange. You can also purchase VRA directly from the Verasity website. This is one of the easiest ways to get started with buying cryptocurrency because there are no KYC or ID requirements involved in this process and they do not charge any fees either!
- Trade Your Bitcoin Or Bitcoin Cash For Verasity Token (VRA)
If you already have BTC or BCH then consider using those as payment methods instead of ETH since those will save money on transaction fees when making purchases online at sites like KuCoin, Coinbase or Gemini who accept these alternative coins as well as fiat currencies like USD/EURO.
Where to Store my Verasity (VRA)?
Storing your crypto in a safe place is an important step. There are several options, but here are a few that we recommend:
- Hardware Wallets – Hardware wallets are small devices that store your private keys offline and away from hackers. They connect to the internet via USB port, so they don’t need to be connected directly to the internet in order for you to access them. Some examples of hardware wallets include Trezor and Ledger Nano S
- Online Wallets – Online wallets are software applications that run on your computer or phone and allow you to interact with cryptocurrencies through their respective networks (e.g., Bitcoin network). Examples include MyEtherWallet, Coinbase Wallet
How to Stake your VRA?
Staking is the process of holding VRA tokens in your wallet and allowing them to produce rewards for you. The incentive for doing this is that the more staked VRA you have, the higher your chances are of receiving a block reward from our blockchain.
The first thing you will need to do is download our Verasity Wallet App on either Android or iOS devices. Once downloaded and installed, create an account with us by entering an email address and password into our secure system (we don’t store any personal details).
Next add some funds by sending some Bitcoin or Ethereum over from an exchange such as Coinbase where these currencies can be purchased cheaply if needed; once added into your wallet balance it’s time for staking.
Is Verasity VRA Worth Investing?
If you’re wondering whether Verasity is a good investment, the answer depends on what your goals are.
If you want to invest in something that’s new and innovative, Verasity could be an excellent choice. It’s worth considering if you want to put money into something that will be around for years to come–but don’t expect quick returns on your investment!
If your goal is simply making money quickly, then it’s probably best not to invest in this particular cryptocurrency token at this time (or ever).