Where to buy and hodl $VLX?

Conduct thorough research on the exchange you're considering. Look into user feedback, the exchange's reputation, and its response to past security issues. Dig deep to uncover any potential negative stories related to the exchange.

Choose the exchange with the best rates or comfort → create an account on the chosen exchange → generate a wallet for the desired currency → deposit tokens into this wallet → navigate to the trading tab, sell the tokens → finally, withdraw the exchanged tokens after the sale.

When exploring digital currency exchanges and considering cryptocurrency investments, be aware of scams and frauds. Look for the exchange's physical address, and avoid using it if there's no address available.

The Velas team and company aren't responsible for third-party exchanges and wallets. Reach out to the support center and team of the specific exchange or wallet where issues arise.

There are Centralized Exchanges or CEXs (organizations facilitating large-scale cryptocurrency trading, akin to traditional asset exchanges) and Decentralized Exchanges DEXs (peer-to-peer marketplaces where crypto transactions occur directly between traders, eliminating intermediaries. Popular DEXs, like Uniswap and Sushiwap, run on the Ethereum blockchain.)

Implement various security measures to safeguard your crypto:

• Back-Up Your Seed Words Properly
• Use Two-Factor Authentication
• Employ a Strong Password
• Use a Different Password for Your Wallet
• Avoid Entering Seed Words on Websites

A crypto wallet is a place where you can securely keep your crypto. There are many different types of crypto wallets, but the most popular ones are hosted wallets, non-custodial wallets, and hardware wallets.

Which one is right for you depends on what you want to do with your crypto and what kind of safety net you want to have.

We can distinguish between hosted and non-hosted web wallets. With hosted web wallets, your keys are stored online by a trusted third party. These parties are mostly exchanges such as Coinbase, Binance, or Bittrex. When you create an account with these entities, they will create an entry in their internal database linking your account to a set of key pairs for the different coins they have listed.

Besides hosted web wallets, there is also a range of non-hosted web wallets. One of the most popular non-hosted web wallet is likely MyEtherWallet, which can store Ether (ETH) and all ERC-20 tokens, tokens that are “living” on the Ethereum blockchain. These wallets provide an interface to check your funds or create transactions in your web browser, but you have to provide the keys with each login.

If you start off with the question “where are your keys?”, the desktop and mobile wallet will give you the same answer: on the device. Phones and tablets are more powerful than ever, the difference between a desktop and a mobile wallet is marginal. It is also arguable whether one is safer than the other.

Referencing our golden thread again and asking “where are the keys” gives you a simple answer with a paper wallet: in your hands! A paper wallet is your public and private key pair printed on paper. Almost every cryptocurrency offers a paper wallet generator. To create a key pair, you generally first have to create some entropy, a term for disorder. In other words: you want your keys to be as random as possible. This is mostly done automatically, but sometimes you will find features where you have to randomly move your mouse or hit keys on your keyboard to create randomness.

Moving on to everybody’s darling: hardware wallets. With a hardware wallet, your keys are stored on the device in something called the secure element. The secure element is a place to store data, in this case your keys, that cannot be directly accessed by your computer or any other device even when it is connected.

Although it does look like a simple USB drive, it can actually do more than just providing storage for your keys. To use a hardware wallet, you usually have a few options of which interface to use. Like MyEtherWallet, a few other wallets offer hardware wallet support. Additionally, you have the native wallet apps provided by the producer. In the case of Ledger, for example, the native app is called Ledger Live.