Our complete guide to VET staking.
It now collaborates with Deloitte and Louis Vuitton China as well as other top companies.
VeChain was initially built on Ethereum blockchain, but it now runs on its own VeChain platform.
It aims to improve product life and supply chain management using distributed ledger technology.
What is VeChain Staking?
The network’s operations are powered by VTHO tokens.
Users can stake VT coins to receive rewards (rewards in VTHO tokens are paid) and take part in decision-making about the network.
How to Take VET
You can also stake VET in cryptocurrency wallets to receive dividends.
Masternode Management
The rewards are greater than if you just keep your coins in a wallet.
VeChain provides its users with four holdings tiers
- Strength (a minimum 1,000,000 VET is required).
- Thunder (minimum 5,000,000 VET)
- Mjolnir (minimum 15 million VET)
- Authority node Minimum 25 Million VET
It is best to invest in such cryptocurrencies as soon as they are available and their prices have not increased.
You can stake VET in your cryptocurrency wallet
crypto wallet to get rewards.
Before you choose a wallet, ensure it supports the staking option.
VeChain provides two official wallets that you can use to store your coins and earn staking rewards.
Sync – for desktop users
VeChain Thor cryptocurrency wallet– For iOS and Android users
You can also choose from these wallets:
The wallet supports holding and stake of 14 coins, which includes VeChain.
It supports approximately 300 coins, including VeChain.
Staking is possible.
Staking is possible for most supported coins, including VeChain.
Follow these steps to get started with one of these wallets:
- You can open your wallet.
- Copy your VET address.
- You can purchase VET coins from a trusted cryptocurrency exchange (LetsExchange.io) where you can easily get them.
- Keep the coins in your wallet to reap the benefits of staking.
You can get approximately 0.000432 VTHO per Day from just one staked VET token if you have a VeChain wallet such as the VeChain Thrift wallet.
What is the purpose of taking VeChain?
Why not keep the coins and earn additional income?
What Can I Earn With VeChain Staking
Also, consider that the greater your stakes, the higher the rewards.
Staking coins can bring you around 1.34% per year in income, but running a masternode can increase this value to 2.27% annually.
Is Staking VeChain safe?
The smart contract locks your coins securely, which increases the security level.
These risks can affect all money types, even fiat.
Staking VeChain: The Benefits and the Drawbacks
There is no need to do anything. Just keep your coins in a wallet and you will get your rewards.
They cannot be used immediately, but they can be used after some time.
You lose your rewards for the month if you take your coins out of stake.
Bottom line
We don’t see why you shouldn’t do it if it is possible to make some money from it.
