How to Buy
Vana

Find out how to buy Vana and other cryptocurrencies on Crypto.com.

Introduction

Vana is a decentralised Layer-1 blockchain designed to empower users with ownership and control over their personal data, particularly for applications in artificial intelligence (AI). It enables individuals to contribute their data to Data Liquidity Pools (DLPs), which aggregate and verify user-provided information for use in training AI models. The network operates on a non-custodial basis, ensuring that users maintain control over their data, which is stored securely and can be monetised through participation in DataDAOs — decentralised autonomous organisations (DAOs) focused on data governance. The native token, VANA, serves multiple functions within the ecosystem, including transaction fees, staking for network security, and governance participation. Validators stake VANA to secure the network, while users can stake tokens in DataDAOs to support valuable data contributions and earn rewards. Originating from an MIT research project, Vana aims to decentralise data infrastructure and promote user-owned AI development. The network’s architecture is EVM-compatible, facilitating the deployment of smart contracts and integration with existing decentralised applications (dapps). Through its innovative approach to data sovereignty, Vana seeks to redefine the dynamics between users, data, and AI.

Step-by-step

Create an account

Download the App and start the sign-up process. Users need a valid ID and may be asked for proof of address in order to transact, so be sure to have those ready. Verifying the ID may take longer than a few minutes, depending on where you live.

Add a payment method

Tap on the payment method box and connect a payment method. Users can use a bank account, debit card, or initiate a wire.

Start a trade

On Crypto.com, select Buy & Sell. In the Crypto.com App, tap the ( + ) Buy on the Home tab.

Select Vana from list of assets

On Crypto.com, click the Buy panel to search and select Vana. In the Crypto.com mobile App, search for Vana by typing ‘Vana’ into the search bar. When Vana appears in the results, tap it to open up the purchase screen.

Enter the amount you want to buy

Use the number pad to input the amount in local currency to spend. The App will automatically convert that into a Vana amount. Users can tap the arrow buttons to the right of the dollar amount to switch the number to the equivalent amount of Vana.

How to Store Crypto

Another decision to make when buying Vana is how it will be stored. Cold wallets (also known as hardware wallets) are physical, offline devices that hold the private keys used to access the cryptocurrency. They are not vulnerable to software attacks but may not be suitable for beginners. Learn more about the pros and cons of hardware wallets and how to choose the right one here.Hot wallets are connected to the internet, making the user’s cryptocurrency more accessible on a daily basis, whether for spending or trading. Security, regulatory compliance, and privacy should be top of mind when deciding on a hot wallet, like the Crypto.com App, the industry leader in security.Crypto.com is the first cryptocurrency company in the world to obtain several independently assessed certifications. The company has also released its Proof of Reserves (PoR), which is a way to ensure that a platform holds enough assets to cover all of its client balances. The PoR was conducted and certified by an independent auditor to ensure the integrity and anonymity of the entire process. Crypto.com’s users can view the PoR report and verify their funds.

How to Sell Vana

After buying Vana, Crypto.com App users always have the option to sell it for other cryptocurrencies or fiat currencies. Here’s how to sell Vana:1. Tap ‘Sell‘ on the Crypto.com App home screen.2. Under Crypto, select Vana to buy and tap ‘Sell’ again.3. Review the transaction details and tap ‘Continue’.4. Confirm the transaction with a passcode or biometric verification.

Due Diligence and Do Your Own Research

All examples listed in this article are for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, cybersecurity, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by Crypto.com to invest, buy, or sell any coins, tokens, or other crypto assets. Returns on the buying and selling of crypto assets may be subject to tax, including capital gains tax, in your jurisdiction. Any descriptions of Crypto.com products or features are merely for illustrative purposes and do not constitute an endorsement, invitation, or solicitation.Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. When assessing a crypto asset, it’s essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.