The crypto Velo (VELO) is used in several ways within the Velo ecosystem:

1. Collateral for Digital Credits: VELO tokens are used as collateral to issue digital credits, which are used for value transfers within the network. This ensures that the credits are backed by a stable asset, facilitating trustless transactions.

2. Entrance Requirement: VELO tokens also serve as an entrance requirement to participate in the Velo ecosystem. This means that users must hold a certain amount of VELO to access the network's services and benefits.

3. Value Transfer: VELO tokens are designed to transfer value on the Velo network, ensuring stable settlement and facilitating frictionless transactions.

4. Smart Contracts: The Velo Protocol, which is powered by the Stellar Consensus Protocol, uses smart contracts to process and settle transactions. This enables secure and transparent value transfers between partners on the network.

Overall, the VELO token plays a central role in enabling the Velo ecosystem to provide a trustless, borderless, and limitless financial infrastructure.

To store Velo (VELO) tokens, you have several options:

1. Atomic Wallet: You can manage your Velo tokens along with other cryptocurrencies like Ethereum, XRP, Litecoin, and over 1,000 other coins and tokens using the Atomic Wallet. This wallet is trusted by 5 million users worldwide and offers features like private and secured storage, 24/7 online support, and no registration or KYC requirements.

2. Hardware Wallets: You can store VELO tokens offline in a hardware wallet like Ledger or Trezor. This method is known as cold storage. To do this, you need to connect your Ledger or Trezor to Stellar Term, accept the VELO asset, and finalize the transaction.

3. Universe Wallet: Velo Labs offers the Universe Wallet, a hybrid decentralized exchange where you can trade, send, and receive crypto. You can download the Universe Wallet on iOS or Android and use it to manage your VELO tokens. This wallet allows you to connect with other popular wallets like MetaMask without undergoing KYC.

4. Stellar Term: You can also use Stellar Term to manage your VELO tokens. This platform allows you to log in with your Ledger or Trezor and accept VELO assets.

These options provide secure and convenient ways to store your Velo tokens.

To buy Velo (VELO) tokens, follow these steps:

1. Find a Reliable Exchange:

   • Centralized Exchanges (CEX): Look for exchanges like Binance, KuCoin, or MEXC that support Velo trading. You can refer to Coinmarketcap.com's Markets section for a list of exchanges where Velo is listed.
   • Decentralized Exchanges (DEX): You can also use a DEX like Pancake Swap, which supports the blockchain where Velo is listed.

2. Create an Account:

   • CEX: Register an account on the chosen exchange's website or app. Verify your identity and secure your account with two-factor authentication.
   • DEX: Download a crypto wallet like Trust Wallet and set it up. Make sure to keep your seed phrase safe and note your wallet address.

3. Buy Base Currency:

• CEX: Use fiat to buy a base currency like USDT, ETH, or BNB. You can use services that support OTC trading or financial platforms like PayPal or Robinhood.
• DEX: Buy BNB Chain and transfer it to your crypto wallet.

4. Transfer Base Currency:

   • CEX: Transfer your base currency to the exchange that supports Velo trading.
   • DEX: Send your BNB Chain from Binance to your crypto wallet.

5. Buy Velo:

   • CEX: Use your base currency to buy Velo in the spot market.
   • DEX: Connect your wallet to the DEX, select your base currency as the payment, and choose Velo as the coin you want to buy. If Velo doesn't appear, find its smart contract address and paste it into the DEX.

6. Store Velo:

• CEX: Store your Velo in your exchange wallet or transfer it to a personal wallet for added security.
• DEX: Store your Velo in your crypto wallet.

Remember to always follow the specific instructions for each exchange or DEX, and be cautious of scams and market risks.