Veritaseum Coin Review: Should You Take the Risk? - Coindoo

Veritaseum Coin Review: Should You Take the Risk?

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May 12, 2018
3 min reading time
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About Veritaseum

Veritaseum is a software based on blockchain platform. It was launched in 2013 by Reggie Middleton. The company’s purpose was “to enable software to use P2P (Peer-to-Peer) capital markets without intermediates”. Anyone who has access to Internet can take part in these capital markets.

Veritaseum’s cryptocurrency tokens have the symbol VERI (do not confuse it with VRC- VeriCoin cryptocurrency).

How does Veritaseum work?

The platform uses a peer-to-peer protocol to provide a strong security and privacy of user’s transactions. It is a decentralized platform that allows developers to create Smart Contracts. There is no need for banks, traders or other intermediates. The network claims that is secured by the Bitcoin blockchain.

Veritaseum’s team had designed a software which works both as a centralized and as a distributed network. The centralized solutions are for institutions that can’t deal by themselves with the capital markets’ systems. The distributed solutions are dedicated for experienced individuals. These can design their own applications on Veritaseum’s platform. To maintain the system, the team has been implemented Veritas sub-tokens. Due to them, it is possible to manage the micro and the macro-financial strategies.

The platform gives to anyone interested the opportunity to trade almost any financial digital asset. It uses a zero-margin protocol to combine the utility with the benefits. This means lower fees for transactions and the freedom to build smart-contracts digital assets using the platform.

How can you buy VERI tokens?

Unfortunately, it is not possible to buy VERI tokens directly with fiat currencies. You need first to buy some Bitcoin on digital exchange platforms, such as Coinbase, Bitstamp or Localbitcoins. Check if your country is listed on the platform. Then just choose Poloniex or Bittrex platforms to exchange Bitcoins into VERI tokens.

Where can you keep your tokens safe?

You can keep VERI tokens in MyEtherWallet. It is available for Windows, Mac and Linux operating systems. It has proof already its functionality, so there is no place for worry. The wallet accepts VERI tokens, even it is basically for Ethereum digital currencies.

You can download the Etherum Wallet from here.

Also, you can use a Ledger Nano S Wallet. This is perhaps the safest one. It is a device that keeps your private keys secured as well as tokens. You can buy the Ledger right here.

The Advantages of Veritaseum platform

  • It is a decentralized platform;
  • The platform uses a peer-to-peer protocol to assure strong security and privacy;
  • There is opportunity for everyone to develop their own Smart Contracts using the Veritaseum platform.

The Disadvantages of Veritaseum platform

  • In July 2017, the platform was hacked and lost 8 million US Dollars. After this incident, the confidence in Veritaseum cryptocurrency has tragically decreased;
  • It is not possible to buy VERI tokens directly with fiat currencies.


There were many disputes about Veritaseum being a scam or not. After being hacked with 8 million US dollars, a lot of users were disappointed and refused to continue to use the platform. We can’t argue if the platform is worth or not your investments. We hope you will make the right decision.

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* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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