Vai (VAI) is a stablecoin pegged to the value of the US dollar, ensuring a stable value of $1. It is backed by a basket of cryptocurrencies and issued by Venus Protocol, which is built on the Binance Smart Chain. This decentralized cryptocurrency offers attractive interest rates and diversifies risk through its backing by multiple cryptocurrencies.
The VAI token is used within the VAIOT ecosystem to facilitate various activities and services. It is primarily utilized to power the blockchain-based AI Assistants and on-chain Intelligent Contracts, enabling automated services and transactions for businesses and consumers.
To store VAI tokens, you have several options:
Exchanges' Wallets: You can store VAI on your exchanges' wallets, such as Binance Wallet or Bitget's BG Wallet. These wallets are convenient but are considered "hot wallets" and are always online, which makes them more vulnerable to hacking risks.
Crypto Wallets: You can store VAI on crypto wallets like Trust Wallet, which are generally more secure than exchange wallets.
Cold Wallets: For long-term storage and maximum security, consider using cold wallets. There are two types of cold wallets:
- Paper Wallets: These are offline wallets where you generate and print public and private keys. They are secure but less convenient.
- Hardware Cold Wallets: These are physical devices that store your cryptocurrency offline. They are highly secure and preferred by many users.
VAIOT Wallet: You can also store VAI tokens in the VAIOT Wallet, which is created upon request. Additionally, you can use the Payback Bonus Wallet, which is automatically generated when you create an account with the VAIOT platform.
Ethereum-based Wallets: As VAI is an ERC-777 token, you can store it in various Ethereum-based wallets, including MetaMask and Ledger.
Remember to always prioritize security when choosing a storage method for your VAI tokens.
To buy Vai (VAI) tokens, follow these steps:
Choose a Reliable Exchange: Select a reliable centralized exchange that supports Vai (VAI) trading, such as Binance, KuCoin, CoinEx, gate.io, or MEXC. Ensure the exchange accepts customers from your country and offers the necessary trading features you need.
Create an Account: Register a free account on the chosen exchange. Provide required personal information, including your name and email address. You may need to complete Know-Your-Customer (KYC) verification to increase withdrawal limits and unlock additional features.
Deposit Funds: Deposit fiat currency into your exchange account using methods such as credit/debit cards, bank transfers, or third-party payment channels. Alternatively, you can buy a stablecoin like USDT first and then use it to buy Vai.
Transfer Funds to the Exchange: If you bought a stablecoin elsewhere, transfer it to the exchange that supports Vai trading.
Place a Buy Order: Go to the trading page, select the Vai trading pair (e.g., VAI/USDT), and decide whether to use a Market or Limit order. Enter the amount you want to buy and confirm the order.
Store Your Vai: Once you have bought Vai, store it securely in your personal crypto wallet or hold it in your exchange account. You can also trade it for other cryptocurrencies or use it for staking on platforms like Binance.
Remember to research the exchange fees, security features, and supported currencies before making a purchase. Additionally, consider your investment approach, crypto storage, and other aspects of buying and trading Vai.
