VeChain was founded in 2015 by Sunny Lu. It started as a subsidiary of Bitse, one of the biggest blockchain systems in China. Headquartered in Shanghai, VeChain extends its service to luxury, retail, and auto industries, to name a few. The cryptocurrency is represented by the symbol VET and is an ERC20 token on the Ethereum blockchain.

VeChain is a popular cryptocurrency, so it is a great investment asset. Moreover, you can easily convert your tokens to traditional money in times of economic crisis using any of the methods discussed below.

Use VeChain Cryptocurrency Exchanges
1

Use VeChain Cryptocurrency Exchanges

One of the most commonly used methods to exchange VeChain coins for fiat currency is by using a cryptocurrency exchange. There are numerous cryptocurrency exchanges, so compare their advantages and disadvantages before selecting one. Follow these steps to complete the process of exchanging your tokens for traditional money:

  • Once you have selected a cryptocurrency exchange that caters to your needs, create an account on the platform.
  • Link your bank account to this account.
  • Transfer your VET tokens from your crypto wallet to the account on the cryptocurrency exchange.
  • Select the currency you wish to exchange your tokens for.
  • As soon as the transaction gets through, the due amount will be credited to your account.
Sell VeChain to Another Person
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Sell VeChain to Another Person

Another method you can use to exchange VeChain tokens for traditional money is trading with another person. Two types of platforms can be used for selling tokens to another person.

P2P platforms allow people to conduct their transactions independently, with no third party involved. After the deal is confirmed, just transfer the tokens to the buyer’s crypto wallet. The due amount will be credited to you.

Brokerage platforms have a third-party institution that monitors transactions. The platform employs a broker to look into the transaction details and make all related decisions. So you don’t have to worry about any aspect. Just pay a brokerage fee for using its service.

Use VeChain ATMs
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Use VeChain ATMs

Cryptocurrency ATMs are like regular ATMs. The only difference is that you can use them to buy and sell cryptocurrency tokens, thus exchanging them for traditional money.

Unfortunately, at the time of writing this article, there are no VeChain ATMs. However, that will probably change soon, given the rising popularity of the token.

Can I exchange my VeChain coins for traditional money?

Yes, you can exchange your VeChain tokens for traditional money using cryptocurrency exchanges or selling your tokens to another person.  

How do I sell my VeChain tokens to another person?

You can sell your tokens to another person through P2P or brokerage platforms. 

Are VeChain tokens limited in number?

Yes, VeChain tokens have a limited supply. The maximum supply is capped at 86.712 billion VET tokens. Out of that, 64.3156 billion VET tokens are circulating in the market. 

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