European investors get a new, simpler way to buy VeChain (VET). The WhiteBIT cryptocurrency exchange now offers direct trading between VET and the Euro (EUR). This eliminates the need for those investors to first convert their Euros into USDT or BTC, streamlining the process and potentially reducing fees.
Besides no need for intermediate conversions anymore, users will also have reduced transaction costs.
Established in 2018, WhiteBIT is a centralized cryptocurrency exchange headquartered in Europe, serving over 8 million users across the EU, South America, and Asia. The platform offers a wide range of services, including spot trading, margin trading, and futures trading, with support for over 350 trading pairs. The exchange is generally known for its user-friendly interface, deep liquidity, and strong security measures.
WhiteBIT operates under European Exchange and Custody licenses, following Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. This gives users a secure and compliant trading environment. The exchange handles a trading volume of over $2 trillion per year.
VET Price: Down, But Not Out
As for VET itself, it hasn’t had the best week, like most cryptocurrencies, losing around 15% in the last seven days. Its current price is $0.02417.
The availability of fiat pairs directly on exchanges like WhiteBIT is a win for crypto adoption. For many users, trading directly in their local currency takes away a layer of hassle, which can lead to increased trading volumes and higher liquidity.
And it’s not just about convenience. Having trading pairs like the VET/EUR helps build more regulated and user-friendly markets. In return, this can help build trust among investors who may have been wary of volatile conversion processes.
VeChain Eyes European Market
For VeChain, the latest development could provide a competitive edge in a way. By expanding its market accessibility through direct fiat pairs, VeChain is extending its investor base, as well as strengthening its credibility as a digital asset with real-world utility.
All in all, this is good news for European investors, but considering the current state of VET, we’re yet to see how much of an impact – if at all – the pairing will bring in the near future.
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