Verum Coin buying and selling tutorial

To buy Verum Coin (VRM), choose a reputable cryptocurrency exchange, create an account and verify your identity, deposit funds, find the VRM trading pair, and place a buy order.

Dec 22, 2024 at 10:32 pm

Verum Coin Buying and Selling Tutorial

Key Points:

• Understanding Verum Coin
• Choosing a Cryptocurrency Exchange
• Creating an Account and Verifying Identity
• Depositing Funds into the Exchange
• Finding and Trading VRM
• Monitoring Your Transactions
• Withdrawing VRM to a Wallet

Buying Verum Coin

1. Understanding Verum Coin

Verum Coin (VRM) is a decentralized and secure cryptocurrency based on the Ethereum blockchain. It is designed for everyday use, offering low transaction fees and fast confirmation times. VRM has various applications, including payments, remittances, and decentralized finance.

2. Choosing a Cryptocurrency Exchange

To buy VRM, you need to choose a reputable cryptocurrency exchange. Some popular exchanges that list VRM include:

• Binance
• KuCoin
• XT.COM
• CoinEx
• Bittrex

Select an exchange that offers low fees, reliable customer support, and a secure platform.

3. Creating an Account and Verifying Identity

Once you select an exchange, create an account by providing your personal information and setting up two-factor authentication (2FA) for security. Most exchanges require identity verification for compliance reasons, so be prepared to submit documents proving your identity.

4. Depositing Funds into the Exchange

To buy VRM, you need to deposit funds into your exchange account. You can use fiat currencies (e.g., USD, EUR) or other cryptocurrencies to fund your account. Choose a method that is convenient for you and suits your budget.

5. Finding and Trading VRM

After funding your account, go to the VRM trading pair (e.g., VRM/USDT) on the exchange. There are two main types of orders:

• Market Order: Buy VRM instantly at the best available market price.
• Limit Order: Set a specific price at which you want to buy VRM.

Choose an order type and enter the amount of VRM you want to buy. Review the details and confirm the trade.

6. Monitoring Your Transactions

Once the trade is executed, you can view it in your exchange's order history. Monitor your transactions to ensure they have been processed successfully and reflect in your account balance.

7. Withdrawing VRM to a Wallet

If you want to store your VRM securely, withdraw it from the exchange to a personal wallet. Select the "Withdraw" option, choose a wallet address, and specify the amount of VRM you want to withdraw. Follow the confirmation steps provided by the exchange to complete the withdrawal.

Selling Verum Coin

Follow the same steps as above, but in reverse order.

1. Transfer VRM from your wallet to the exchange.
2. Go to the VRM trading pair and select a sell order.
3. Enter the amount of VRM you want to sell and choose the order type.
4. Review the details and confirm the trade.
5. Monitor your order to ensure it has been executed.
6. Withdraw the funds from the exchange once the sale is complete.

FAQs

What are the fees associated with buying and selling VRM?
Fees vary depending on the cryptocurrency exchange used. Binance charges 0.1% on both maker and taker fees for spot trades. KuCoin charges a 0.1% maker fee and a 0.2% taker fee.

What are the minimum and maximum amounts of VRM I can buy or sell?
Minimum and maximum trade sizes vary by exchange. Binance has a minimum trade size of 0.001 BTC for VRM/BTC trading pair. KuCoin has a minimum trade size of 100 VRM for VRM/USDT trading pair.

How long does it take to buy or sell VRM?
Trades on centralized exchanges are typically executed almost instantly. However, the withdrawal process can take several hours or even days, depending on the exchange and network congestion.

What is the best wallet to store VRM?
Popular hardware wallets like Ledger Nano X and Trezor Model T provide secure storage for VRM. You can also use VerumPay, the official wallet for Verum Coin.

How do I stay up-to-date on the latest Verum Coin news and developments?
Follow official Verum Coin channels on social media (e.g., Twitter, Telegram) and visit the project website for announcements and updates.