What is VeChain?
VeChain is one of the top-rated and very exciting cryptocurrency projects that aims to eliminate fake products and improve product management. Since its launch in 2015, the product management platform has been relentlessly changing the world’s perspective on how to move products in the supply chain.
It’s a solution that offers manufacturers a secure and effortless way of managing and keeping track of their products. There is a vast list of reasons why any serious investors would want to consider VeChain as a potential successful investment for the future.
By using blockchain technology, smart contracts, and its in-house VID (VeChain Identify Technology) system, VeChain is currently up there with the best blockchain projects.
If you’re thinking of investing in the project by buying VET, the platform’s official token, then after finding a proper means of acquiring the said tokens, you will require a secure wallet where you can safely hold your tokens.
Up until recently, VeChain was still based on the Ethereum blockchain meaning that VET was an ERC-20 token which could be stored on most Ethereum and ERC-20-compatible wallets. VeChain has since then moved to its own mainnet. Hence, this is no longer the case.
In fact, all the existing VET token holders received Thor Power tokens (THOR), the platform’s second token which is used for smart contracts, as well as for running dApps on the blockchain. Hence, the VET tokens will be primarily used to make payments on the platform. The THOR token is based on the NEO platform and is NEP-5 compliant. Long story short, all holders had to perform a token swap from VEN to VET. This move means that VET token holders now have a limited array of compatible wallets to work with.
Be that as it may, there are still a few good options of wallets out there. Below, we have created a list of the best VeChain wallets:
VeChainThor Wallet for Android and iOS
Considering the fact that mobile technology is currently a very big part of our daily lives, it’s no wonder that VeChain decided to address the need for mobile wallets. The platform provides its users with two secure, lightweight, and streamlined wallets for two of the most popular mobile platforms, iOS, and Android.
The wallets act as an efficient and very user-friendly portal towards the VeChainThor blockchain. The wallets can be effortlessly downloaded from the platforms’ respective stores, namely the App Store, and the Google Play Store. The sign-in process is very easy, and you can also benefit from the typical two-factor authentication system.
Mobile wallets are undoubtedly useful, but for all the versatility and mobility they bring, they are arguably not the most secure option out there.
VeChainThor Sync
VeChainThor Sync is one of the few solutions that currently supports VET tokens since VeChain’s Mainnet launch. It’s a desktop wallet client that’s available for all the major desktop platform such as macOS, Linux, and Windows. It’s not the most stylish wallet out there, but it does offer cross-platform compatibility.
Users should note that this is still a very experimental wallet that’s currently undergoing a lot of development. Users should use it at their own risk. It’s advisable that you don’t use this app for storing large numbers of VET.
Ledger Nano S
The Ledger Nano S hardware wallet is a popular choice these days, not just for VET token holders, but for a lot of other crypto tokens as well. It puts a very high emphasis on security, and it comes in the shape of a tiny USB device. It’s protected via a PIN, and it has a built-in OLED display which can be used to confirm and check transactions.
Conclusion
Since VeChain has been officially rebranded as VeChainThor and since the VEN tokens eventually became VET tokens, not all major hardware wallets managed to fully embrace this change and offer support for the latest token. The situation is bound to change in the future since VeChain is still a big player on the cryptomarket. Until then, investors and token holders will have to do with this limited available options.
