How to buy Vai (VAI) in Australia

A beginner's guide to buying and selling VAI in Australia.

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

How to buy Vai

Look for an exchange that supports both fiat and cryptocurrency to simplify buying Vai.

  1. Open an account on an exchange that supports VAI.
    Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
  2. Deposit funds into your account.
    Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Vai.
  3. Buy Vai.
    Complete your Vai purchase and then find the best wallet to store VAI.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is Vai?

The Venus Protocol, or Venus, is a decentralised marketplace for matching lenders with borrowers. Built on the Binance Smart Chain (BSC) blockchain, it allows users to earn interest from cryptocurrency deposits. Other users can then borrow those funds through overcollateralised loans without the need for a credit check. The lender receives an annual percentage yield (APY) for deposited funds, while the borrower pays interest on what is borrowed. In comparison to similar money market platforms, Venus provides users with collateral tokens which can then be used to mint synthetic stablecoins. These synthetic stablecoins can then be used within other decentralised finance (DeFi) applications and means collateral can remain liquid. VAI is the first USD synthetic stablecoin of the Venus Protocol. It is minted directly through the platform and tracks the price of US Dollars at a ratio of 1:1. Unlike other stablecoins such as USD Coin (USDC), which is backed by real US dollars, VAI is backed by a basket of cryptocurrencies. According to the whitepaper, the stablecoin is completely decentralised, rather than controlled by a single entity.

Vai (VAI) is the 314th largest cryptocurrency in the world by market cap, valued at $156,865,682. The current price of Vai is $0.927712, which is 1.931% higher than yesterday. Prices have ranged between $0.937138 and $0.906677 over the past 24 hours. All prices are listed in US dollars and accurate as of September 24, 2021 06:09 UTC.

Where to buy Vai

Find an exchange to buy, sell and trade VAI by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Name Product Deposit methods Fiat Currencies Cryptocurrencies
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

806
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
loading

Compare up to 4 providers

Vai at a glance

Information last updated September 24, 2021 06:09 UTC.
Coin symbolVAI
Coin MarketcapUS$156,865,682
Total VAI supply169,156,725
Circulating VAI169,156,725
Current priceUS$0.927712
All time highUS$1.20
All time high dateFebruary 08, 2021

Vai price performance over time

Historical prices compared with the price of US$0.927712.

1 hour 0.42%
24 hours 1.93%
7 days 6.58%
14 days 17.11%
30 days 13.92%
60 days 5.11%
200 days 1.84%
1 yearN/A

How to sell Vai

You can cash out your VAI with the same exchange you bought it through:

  1. Sign in to the exchange you have VAI on.
    If you store your Vai in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of VAI you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of Vai.

What to consider when buying Vai

When buying a stablecoin such as VAI, it’s important to consider all aspects of the associated platform and how the stablecoin intends to keep prices stable. Here are some of the key considerations:
  • Price. VAI is a form of stablecoin, which means its value should remain at USD$1. As a result, the coin is not for investors who are looking to buy cryptocurrencies for potential capital gains. Rather, it was designed so that holders of collateral within the Venus protocol could keep that collateral liquid.
  • Synthetic stablecoin. VAI is a synthetic stablecoin, meaning there are no underlying fiat reserves that guarantee the value of each token. The underlying value of each VAI token is generated by vTokens, which are distributed to liquidity providers. Users are allowed to deposit 50% of their collateral to mint VAI.
  • VAI vs XVS. While VAI is the stablecoin of the Venus Protocol, XVS, or Venus Token, is used for governance. XVS token holders can change the parameters of VAI, such as the maximum supply, interest fees, the liquidation price as determined by the collateral ratio, and the penalty percentage if a loan cannot be repaid.

Disclaimer: Cryptocurrencies, including Vai, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of VAI is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Vai or any other cryptocurrency discussed.

More guides on Finder

Get into cryptocurrency

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site