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There are two major editions of VMProtect: hardware and software-based. Hardware-based edition is based on USB dongles, while the software one deals with plain text serial numbers. So, first of all you need to decide how are you going to protect your software.
Software-based protection
There are three editions of VMProtect that provide software-based protection. Pick the appropriate one using the products comparison chart. You can get more information about VMProtect here.
Hardware-based protection
VMProtect SE (SenseLock Edition) uses hardware USB dongles to protect software. Please visit this page for details.