Involvement With Nft And Defi
VeChain has positioned itself as one of the superior blockchains on which smart contracts for DeFi apps can be executed, and enterprise NFTs hosted. The ongoing DeFi explosion can thus be said to have helped boost VeChains popularity, but it is the incoming NFT craze that is expected to make it a top 10 cryptocurrency.
Vechain Development & Roadmap
There is no doubt that the VeChain team has been active making partnerships and rolling out updates, but how much of these work is actually reflected in the code?
Given that VeChain is an open source project it may make sense to go into their public code repositories. This can give you a good idea of just how much work is being done on the protocol.
Hence, I decided to dive into the VeChain GitHub and take a look at the coding activity in their repos. Below is the commit activity on two of their most active repos over the past year.
Commits over past 12 months for Select Repos
As you can see there has been a fairly low level of activity. This is below average for some of the other projects that I have covered. There are a further 35 repositories out there although these also have low levels of activity.
Looking forward, there are quite a few things that one can look forward to. While there is no official roadmap that has been laid out, you can glean some information from this blog post.
For example, the developers are actively working on cross chain interoperability of VeChain. They are currently still working on technical preparations for this technology. This interoperability could no doubt increase the adoption of VeChain.
If you want to keep up to date with the project development then you should keep your eyes on their official blog as well as their .
Cryptocom Lists Vechains Vet Token
Buy VET at true cost with USD, EUR, GBP and 20+ fiat currencies
< HONG KONG, JUNE 3, 2019> – Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has listed VeChains VET Token to its Wallet & Card App.
VET joins a growing list of 26 cryptocurrencies and stablecoins on the Crypto.com platform, such as bitcoin , ether , Litecoin , XRP, TrueUSD , PAXOS , and its own MCO and CRO tokens.
VeChain is one of the few blockchain platforms with real-world business applications adopted by reputable enterprises across multiple sectors worldwide. It provides robust and secure blockchain infrastructure, enterprise solutions, turnkey packages and development tools in both software and hardware that caters to business partners and developers to adopt blockchain solutions for business.
With VET added to the Crypto.com Wallet & Card App, users can now buy VET at true cost with USD, EUR, GBP and 20+ fiat currencies at Crypto.com – credit card and bank transfer both supported. As Crypto.com also offers the MCO Visa Card, this adds additional utility to VET as users can easily convert cryptocurrencies into fiat currencies and spend at over 40m merchants globally.
Kris Marszalek, Co-Founder and CEO of Crypto.com said: Were happy to have VeChain on board our platform. With our shared vision to drive innovative solutions in real-world use, we look forward to working with VeChain to accelerate the worlds transition to cryptocurrency.
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What Are The Places That Can Be Used To Store Vechain
You can store either VET or VTHO, and several other types of crypto assets with the official VeChainThor wallet via an Android or iOS device. Official desktop wallet you can use is VeChain Sync. You can also use this service by using Ledger to store cold wallets . There are also several wallets from third parties for storing VTHO and VET. For example, Trust Wallet, Arkane Wallet, Cobo Wallet, MySafeWallet, Atomic Wallet, Exodus, Guarda Wallet, and Ellipal.
How To Buy Vechain With Paypal
Bitcoin and other cryptocurrencies can be purchased using PayPal. VeChain, on the other hand, cannot be purchased using PayPal. At the moment, the service only allows for the purchase of four cryptos: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin .
Because PayPal does not yet support VET, you have a few options if you want to buy VeChain in the United States. To find out where I can buy VeChain, go to a few crypto exchange platforms, such as eToro.
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Examples Of How Vechain Can Be Used
For example, the platform can be used to track quality, authenticity, storage temperature, transportation medium, and last-mile delivery of a medicine pack or an alcohol bottle right from the manufacturing facility through to the final delivery to the end customer. To accomplish this goal, VeChain uses smart chips or Radio Frequency Identification tags and sensors that broadcast key information onto the blockchain network that can be accessed in real-time by authorized stakeholders.
The application of sensors means that all parameters related to the product can be constantly monitored and problems, if any, can be communicated back to the relevant stakeholders. Manufacturers and customers are informed if a drug packet is stored outside a prescribed temperature range, allowing for service improvements and better quality control.
In another example, the VeChain platform can enable automobile owners to own their data and use it to negotiate better terms and policies with their insurance companies.
How To Swap Vet On Swapzone
It might be a good idea to exchange VeChain, especially when you can exchange the cryptocurrency at the best rate. On Swapzone, you can easily convert VET through a wide range of instant cryptocurrency exchange providers listed, review these supported exchangers, their offers and the exchange rates they pick. To learn more about this project, check our Swapzone review out. So, to get some VET you should follow these steps:
- Go to swapzone.io.
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What Are The Things That Might Make Vechain Even Worse As An Investment Platform
Cryptocurrency market that we already know is getting tougher and even unhealthy competition. VeChain is also facing very tough competition from a variety of projects, both current and future projects. VeChain has contracted with various modern technology projects, but some are still under development. The success of VeChain depends on project development projects such as Vechain Thor. In addition, as long as it is in the context of the cryptocurrency market, we must all be aware of any related regulations. VeChain itself is closely related to the policies of Chinese government.
Risks Associated With A Vechain Investment
As is the case with all crypt investments, VeChain isnt immune to risks and here are two that threaten to derail the altcoins future price action:
Stiff competition: There is a level of fear that traditional and more popular technology companies like Amazon, IBM, and Verizon will soon join the crypto industry with similar blockchain technologies. Such competition would eat into VeChains market share and slow down the growth rate of its VET token prices.
Failing crypto market: Seeing that much of VETs price action is pegged to the performance of the overall crypto market, unprecedented changes in the industry like government regulation will shake the crypto market and send VET tokens crashing.
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Vechain Will Stay Under Selling Pressure Until Year
VeChain is a blockchain platform focused on supply chain issues with corporations around the world. I have written about this in some articles recently. But in the last three months, VeChain had a rough time in terms of appreciation in the market. Source: Shutterstock For example, after peaking at 18.56 cents on Nov. 9, VET-USD has drifted significantly lower. As of Dec. 20, it was trading below eight cents . That represents a drop of 10.6 cents or 57% from its peak.
Managing Your Crypto Assets In A Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Vechain We recommend you to use hardware wallet which support many cryptocurrencies Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
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Where To Buy Sell And Trade Vechain Aka Vet
You can basically use debit card, credit card, or even PayPal to buy the Vechain . However, the transaction wont be direct. Its not like you pay with cash and you get the Vechain as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to Vechain. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
Vechain Price Forecast 2021
So far, VET is one of the active digital assets in the crypto world that has been performing well lately. However, do you ever wonder how much VET price will reach before the year ends? Therefore, let us check together with the price of VeChain in this VET price prediction 2021.
Vechain VET Price Forecast
Based on the graph above, VET was able to overcome the pressure made by the bears in the Fibonacci level .786. As a result, the crypto now positions itself above the Fibonacci golden level of .618. In other words, VET is now in an uptrend position and trades at a bullish price of $.12 per crypto. Whats more, this position of crypto has recorded a growth rate of almost +70% in the past 30 days.
If this bullish trend continues, VET might have a chance to break another resistance at the Fibonacci level .5. If it does, VET will break past the bullish price of $.17 and go beyond. Best of all, the crypto may still pump its price higher and touch the skyrocketing price of $.21, which is just 69.9% away from its current position. But, of course, all this will be possible if the bullish market and investors continue to trust VET.
In conclusion, the VET price prediction 2021 amounts to $.21 and above. However, this may still change due to many factors such as Bitcoins performance and investors buying and dumping power, to name some.
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Vet Token Price Prediction: Buy Sell Or Hold
In terms of a VET coin prediction, algorithm-based forecasting service Wallet Investor gives a positive VET/USD forecast. Based on historical data, Wallet Investor sees the price rising to $0.17 in a year’s time and hitting $0.522 in five years.
Digital Coin Price supports the bullish VET crypto forecast, expecting the token to grow to $0.101 in 2022, $0.16 in 2025 and hit $0.25 in 2028.
Note that algorithm-based predictions can be wrong. Forecasts shouldnt be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose.
Where To Store Vechain
Like all cryptocurrencies, it is important to store them safely as possible in their available wallet. The least secure level of storage would be to keep your Vechain on the cryptocurrency exchange wallet that you used to trade for the asset. If the cryptocurrency is available to trade then the platform will have a built-in wallet for it. These exchanges are subject to hacks and exploitation, and since they control the wallet private keys it is possible that your VET could be stolen. The safest way to store your Vechain would be to use a cold storage option.
One great thing about Vechain is they have an intuitive and easy to use mobile wallet application that gives you full control over your VET and Vechain based coins. You generate private keys and then can create a 6-digit numeric password to protect and lock the app. You can also store your VET using a hardware wallet, such as the Nano Ledger X, which uses cold storage methodologies to create the safest wallet experience.
Why does Vechain have 2 cryptocurrencies ?
Vechain utilizes this model to fairly distribute verification rewards. By buying VET, you now have proportional governance abilities in the network, and can stake your VET in order to earn VTHO, or the gas of the network that pays for transactions.
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Withdrawing Your Vechain Tokens
Hop on back over to your wallet and click on Withdraw.’ As indicated in the diagram below, type the abbreviation or the full name of VeChain.
Copy the public address from your private wallet and paste it into the recipient’s VeChain address. Please note that you will need to withdraw a minimum of 200 VET tokens. The withdrawal fee is 100 VET tokens.
After that, enter the withdrawal amount. The system will automatically calculate the handling fee and give the actual arrival amount: actual arrival amount = withdrawal amount-withdrawal fee. Then just press send.’
Trade Sell Or Convert Your Vechain Tokens
If you want to actively trade your VET or VTHO, youll need to hold it on your exchange wallet for quick access to liquidity. This presents a risk as exchange wallets are less secure than cold storage. Crypto prices are subject to extreme volatility, especially in the short term. Trading also exposes you to risks in price volatility.
If youre looking to sell your VeChain tokens and cash out, there are a few options available. Binance.us offers ACH withdrawals up to $1000/day. If you want to move more that at once, your best bet is to sell your tokens into a stablecoin like Dai or USDC. Once youve realized your gains in a stablecoin, you can transfer Dai or USDC to a coinbase account capable of $25,000 daily limits for fully verified accounts.
Because VeChain tokens are not Ethereum-based, your options for converting are not great. Ethereum-based tokens such as Uniswap or Wrapped Bitcoin can be interchanged easily through an automated market maker such as Uniswap or Sushiswap. This is not the case with VET or VTHO.
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Four: Make Your First Purchase Of Vechain
After your transfer of your crypto from Coinbase to your exchange’s wallet is confirmed, you’ll want to initiate a trade of that specific cryptocurrency for VeChain .
Since each exchange is different we can’t give you a step-by-step guide on how to make the trade, but we can give you a few pointers:
The first is buying at the market price. This is the current price VeChain is trading at. There is nothing wrong with purchasing at this price, but if you think the price will drop or wanted to get it at a lower price, then look at the limit price.
Limit price says you want to purchase a certain amount of VeChain at a specific price. If the price of VET gets to that price your order will be processed. Remember, with how volatile the market is, there is no guarantee the price will drop to your limit price.
NOTE: No matter which trade option you select, the price will be purchasing VeChain at will be based upon the currency you are trading with . Some exchanges don’t convert this over to your local currency, so you can always use Google and type something like “0.0025 BTC to USD” and Google will tell you the USD value.
Once you’ve completed your trade … CONGRATULATIONS! … you’ve purchased VeChain using USD with the help of another crypto exchange.
If you want to learn how to buy more cryptocurrencies, here is our library of guides on how to buy cryptocurrency with USD.
Why Consider A Hardware Wallet When Buying Crypto
A Vechain wallet helps you protect your private key, not storing your Vechain. If you are fairly new to cryptocurrencies you might still be struggling with the concept of private key and why its so important. Perhaps you just get into cryptocurrency by purchasing coins on an exchange platform but didnt even realize that they hold the private keys to your cryptocurrency.
When you own cryptocurrencies, what you really own is a private key, a critical piece of information used to authorize outgoing transactions on the blockchain network. Holding the private keys gives you access to your crypto, like holding a pin code to your debit card in short it gives you access to your funds.
« If you are keeping your crypto assets on an exchange, you are entrusting a third party with these private keys and mandating them to serve as a safeguard. »
Being a crypto investor requires taking security seriously and owning your private keys gives you much more power and control. The main principle behind hardware wallets is to provide full isolation between the private keys and your easy-to-hack computer or smartphone. The only people you can trust for storing your crypto assets is yourself.
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