# How to Buy VeChain (VET) in Australia > Learn how to buy VeChain (VET) in Australia with PayID or bank transfer, plus what VeChain is, how the VET and VTHO dual-token model works and how to store This guide walks you through how to buy VeChain (VET) safely in Australia, from opening and verifying an account to moving your coins into secure storage. It then explains what VeChain is, how its Proof of Authority network and dual-token model work, who created it and what it does. This is general information only and not a recommendation; always do your own research before buying any cryptocurrency. 2017 Established 4.80 / 5 Rated AU Australian-Based Customer Support Get started ## How to Buy VeChain Safely in Australia: 3 Easy Steps To buy VeChain in Australia on Digital Surge: create a free account, verify your ID, deposit AUD by PayID or bank transfer, then place your VET order at the live price. The whole process usually takes about five minutes. 1. ### Create and verify your account Sign up with your email, then verify your identity with an Australian ID document such as a driver's licence or passport. Turn on two-factor authentication while you're there. 2. ### Deposit AUD Fund your account with PayID for a near-instant transfer, or use a standard bank transfer from your Australian bank account. There are no deposit fees either way. 3. ### Buy VeChain Search for VeChain (VET), enter the amount of AUD you want to spend, review the order details and fee, then confirm. Your VET appears in your balance straight away. On this page 1. How to Buy VeChain Safely in Australia: 3 Easy Steps 2. What is VeChain? 3. VeChain at a glance 4. How to Store VeChain Securely 5. FAQs Chapter 02 ## What is VeChain? VeChain (VET) is the native coin of the VeChainThor blockchain, a public Layer-1 network built mainly for business and supply-chain use. Its focus is practical: helping companies record where products come from, prove they are genuine, and track things like temperature in transit or a product's carbon footprint on a shared, tamper-resistant ledger. VET is the coin that moves value on that network. VeChain runs a dual-token model, which is one of its defining features. VET is the value-transfer coin you buy and hold, while a second token, VTHO, is used to pay transaction and smart-contract costs on the network. Holding VET in a wallet you control generates VTHO over time, which helps keep the cost of using the network steady even when the price of VET moves. On Digital Surge, VeChain is categorised as a Smart Contract asset. - **Chain:** the native VeChainThor Layer-1 (VET is the network's own coin). - **Consensus:** Proof of Authority, using a set of vetted Authority Masternodes. - **Dual token:** VET carries value; VTHO pays network fees and is generated by holding VET. - **Founded:** 2015 by Sunny Lu; the VeChainThor mainnet went live on 30 June 2018. - **Used for:** supply-chain tracking, product authentication and sustainability data. ### Who created VeChain? VeChain was founded in 2015 by Sunny Lu, who had previously been a chief information officer within the LVMH luxury group, an experience often linked to VeChain's early focus on proving product authenticity. The project first ran as a token on Ethereum, known as VEN, before launching its own VeChainThor mainnet on 30 June 2018, when the old VEN tokens were swapped for the native VET coin. The network is supported by the VeChain Foundation. ### How does the VeChainThor network work? VeChainThor secures itself with a Proof of Authority (PoA) consensus, which is different from both Proof of Work mining and open Proof of Stake. Instead of anyone being able to produce blocks, a fixed set of vetted, publicly known validators called Authority Masternodes take turns confirming transactions, producing a new block roughly every ten seconds. A 2022 upgrade to PoA 2.0 added verifiable randomness and a fast-finality feature, so that once a block is confirmed it cannot later be reversed. This design is energy-light and predictable, which suits the businesses VeChain is built for. ### What is VeChain used for? VeChain is aimed at real-world business problems rather than speculation. Companies use it to trace goods from source to shelf, to check that items such as luxury products, food or medicines are genuine, and to record sustainability data such as carbon emissions. Over the years it has been associated with large organisations exploring supply-chain tracking, and its mix of a public ledger with predictable running costs is meant to make it practical for day-to-day corporate use. This is general information only, not a recommendation. ### Can you stake VeChain? Not in the usual sense, and staking is not offered for VET on Digital Surge. VeChainThor uses Proof of Authority rather than open Proof of Stake, so the network is secured by its Authority Masternodes rather than by everyday holders locking up coins. The closest thing for ordinary holders is the VTHO that VET generates when it is held in a wallet you control on-chain. On Digital Surge, VET is tradeable and swappable. ### Risks of buying VeChain VeChain is volatile: its value in AUD can rise or fall sharply over short periods, and there is no guarantee it will hold its value. Enterprise adoption can take years and may not translate into demand for the coin. Cryptocurrency is a high-risk category, so only commit an amount you are comfortable holding through large price swings, secure your account and keys, and stay alert to scams. This is general information only and not a recommendation, and it does not take your personal circumstances into account. Consider your own situation or speak to a qualified professional before buying. ### Why Buy VeChain? Many Australians hold VeChain because it is a Layer-1 network built for real-world business use, its Proof of Authority design settles blocks quickly with low energy use, and its dual-token model uses VTHO to keep network costs steady for VET holders. Digital Surge lets you buy VET with AUD via PayID or bank transfer and offers Australian-based support. This is general information only and not a recommendation; consider your own circumstances before buying any cryptocurrency. ### Buying VeChain in Australia: the quick recap To buy VeChain in Australia on Digital Surge: create a free account, verify your ID, deposit AUD via PayID or bank transfer, then buy VeChain. The whole process takes about five minutes, and your VeChain is held safely in your Digital Surge wallet. ### Learn more about VeChain On Digital Surge you can [see the live VeChain price and VET to AUD converter](/buy/vet/), see other coins in the [Smart Contract](/categories/smart-contract/) category, or read [what cryptocurrency is](/education/what-is-cryptocurrency/) before you buy VeChain in Australia. Chapter 03 ## VeChain at a glance Market rank Market cap Volume (24h) Circulating supply 1 VET = AUD [See the live chart and buy VET →](/buy/vet/#price) All figures in AUD · refreshed live on this page · last built 14 Aug 2026 Chapter 04 ## How to Store VeChain Securely Once you buy VeChain in Australia on Digital Surge, you can store it securely in your Digital Surge wallet for easy access and trading. For additional security, you can transfer your VET to: ### Exchange custody: convenient for buying and smaller balances On Digital Surge you can keep your VET in exchange custody, where the exchange holds the keys for you. This is convenient for buying, swapping and smaller balances, and you protect your account with a strong, unique password and two-factor authentication instead of managing a recovery phrase yourself. ### Self-custody wallets: control your own keys For full control you can withdraw your VeChain to a wallet that supports the VeChainThor network, such as an official VeChain wallet or a hardware wallet that keeps your keys offline. Use a VeChain-compatible wallet so your coins arrive on the correct chain, and note that holding VET on-chain in your own wallet is what generates VTHO over time. ### Protect your recovery phrase and check the address If you self-custody, write your recovery phrase down, keep it offline and never share it with anyone. Always double-check the VET address before you send, because on-chain transfers cannot be reversed and coins sent to the wrong address usually cannot be recovered. Chapter 05 ## Frequently Asked Questions Is VeChain legal in Australia? Yes. Buying, holding and selling VeChain is legal in Australia, and cryptocurrency exchanges operating here must meet Australian know-your-customer and anti-money-laundering obligations. Digital Surge is an Australian exchange. What is the difference between VET and VTHO? VeChain uses two tokens with different jobs. VET is the coin that carries value, the one you buy and hold. VTHO is a separate token used to pay for transactions and smart contracts on the VeChainThor network, and it is generated over time when VET is held in a wallet you control. Splitting the two is meant to keep the cost of using the network steady even when VET's price changes. Can you stake VeChain on Digital Surge? No. Staking is not offered for VET on Digital Surge. VeChainThor is secured by Proof of Authority, where vetted Authority Masternodes confirm transactions, rather than by open staking, so there is no everyday staking mechanism to earn network rewards. You can still buy, hold and withdraw VET through your account. What is the difference between VeChain and VeChainThor? People use the names loosely, but strictly they refer to different things. VeChain is the overall project and platform, VeChainThor is the Layer-1 blockchain it runs on, and VET is the native coin of that blockchain. So when you buy VET, you are buying the coin that moves value on the VeChainThor network. How do I deposit AUD to buy VeChain? You can deposit AUD using PayID or bank transfer, both with zero deposit fees. PayID deposits typically clear quickly, so your funds are ready to use in minutes. Do I need to verify my ID? Yes, in compliance with Australian regulations, all users complete a quick identity verification. Most verifications are approved within minutes, so you can get started fast. [See the live VET chart first →](/buy/vet/#price) About the author The Digital Surge Editorial Team Our editorial team writes and reviews Digital Surge's crypto and finance guides, pairing plain-English explanations with the practical experience of running an [Australian cryptocurrency exchange](/about-us/). We keep every guide accurate, current and easy to act on. [Read our editorial guidelines ›](/editorial-guidelines/) 400+ Cryptocurrencies & Counting ## What Other Tokens Can I Buy? Digital Surge lists more than 400 cryptocurrencies alongside VeChain. A few related coins to explore: [Guide Stellar (XLM) A fast, low-cost network for cross-border payments. Read the guide →](/how-to-buy-stellar/)[Guide Polkadot (DOT) A protocol connecting multiple blockchains into one network. Read the guide →](/how-to-buy-polkadot/)[Guide Ethereum Classic (ETC) The original Ethereum blockchain with proof-of-work consensus. Read the guide →](/buy/etc/)[Guide Stacks (STX) A platform bringing smart contracts and DApps to Bitcoin. Read the guide →](/buy/stx/)[Guide MIOTA (IOTA) A feeless distributed ledger for the Internet of Things. Read the guide →](/buy/iota/) ## Ready to buy VeChain? --- *Source: [How to Buy VeChain (VET) in Australia](/how-to-buy-vechain/) · Last updated: 2026-07-09*