Despite the rather less noisy period among wide public, 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 time. 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?
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, Atom or Algorand.
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.
What makes VeChain special?
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 to 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.
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 achieved via Locked or Flexible Staking. 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)
The price of VET was moving around a month’s low while transactions did not generate high daily volumes. Afterwards, 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 for the long term.
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 distributing VTHOR, worked well. The alternative is to use the VeChain Thor’s native wallet or, and it seems the most sensible, to keep VeChain on a secure wallet Ledger Nano S.