Despite the fact that 2018 is not the best time for cryptocurrencies in terms of capital performance, many projects are developing according to a long-term vision. One of them is VeChain, where many technological changes and progress have been made over the last year. VEN, because this is what the ticker of this cryptocurrency is now established, implemented a new ecosystem based on VTHOR tokens. How will the change affect VeChain’s prospects in 2019? We check.
Why and whom VeThor was introduced for?
VeThor is a token, straightforwardly, thanks to which business ventures and corporations will be able to access VeChain blockchain resources. VeThor tokens are created by everyone who has VET. The minimum rate of VTHO generation has been set at 0.000432 VTHO / day, for every 1 VET. It is worth noting that the idea for such a distribution of producing tokens has already been implemented in the world of cryptocurrencies, for example in the Neo cryptocurrency.
How does the VeChain business ecosystem work? At the beginning of the project, VEN tokens were introduced. Along with the development of the business vision, they have evolved into a VET and VTHOR pool. These two types of cryptocurrencies, although closely related, serve different purposes:
VET is smart money, used for financial billing and business activity support. They are used to generate VTHOR and are de facto shares in the VeChain ecosystem.
VTHOR is a working currency used to handle transactions and power smart contracts and applications. VTHOR can be generated by holding VET or purchased on cryptocurrency exchanges.
Is it worth investing in VeChain in 2019?
All cryptocurrency projects that introduce additional investment incentives are worth noting. In the case of VeChain, it is a regularly distributed amount of VETHOR tokens. Investors can count on the increase of their portfolio’s value. What further speaks for VeChain? Holders of a large number of VET can directly influence the future of the project. In addition, the community has been electrified the news of deepening cooperation with the BMW automotive mogul. On the other hand, the price of VET and VTHOR does not look optimistic: the market pricing this project very low, throwing VeChain out of the top twenty by coinmarketcap.
Return on investment is not difficult to calculate. The value calculator generated by the possession of VET cryptocurrencies indicates that an ROI of 1.3% should be expected, which is a bit down from 2018’s 1.7%. This is not a stunning result, especially in the light of much better, potential returns eg from the cryptocurrency market dividend, additionally offering an affiliate program, allowing a return of over 10%! By the way, this exchange also offers VeChain trade. And to be completely clear, both VET and KCS suffered huge loses during 2018 downturn and are reasonably priced in 2019.
Where to buy VeChain and how to store VET?
The largest place where you can buy VET is the Binance cryptocurrency market. What is very important, the monthly generated VeThor allocation is automatically received on this exchange. How to buy VeChain step by step?
- Create a free account on Binance,
- Deposit cryptocurrencies, e.g. Bitcoin, Ethereum, Litecoin,
- Find a VET / BTC pair and buy the VeChain cryptocurrency (you will pay the lowest 0.075% commission in the BNB promotion)
At the end of 2018, the price of VET was moving around a month’s low while transactions did not generate high daily volumes. In the first weeks of 2019, however, there has been significant rebound on the cryptocurrency market. It is still an opportunity to get a long-term position cheaply, especially if you have the technical capability to establish a node in the VET ecosystem or keep tokens throughout 2019.
How to store VeChain? VET wallet
VeChain is, despite the risk, often stored on the cryptocurrency market. This strategy, supported by the fact that Binance is automatically distributing VTHOR, worked well throughout 2018. The alternative is to use the VeChain Thor’s native wallet or, and it seems the most sensible, to keep VeChain in 2019 on a secure wallet Ledger Nano S.
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