Guide to Earn Passive Income with VeChain (VET)
The cryptocurrency market is in recession and investing through ICOs and trading has been unprofitable for a long time. However, this market still allows you to make money and now is a good time to consider passive income generating opportunities. One of the best passive income projects discussed in this review is VeChains.
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We introduce VeChain
- Aim: Dapps, smart contract, supply chain management
- location: https://www.vechain.com/
- Geography: offices in different countries of the world; 111 keys in English, German, Japanese, Chinese and Korean
- Company: operated by the non-profit VeChain Foundation. The founder and CEO of this project is Sunny Lou
- Current state of development: Mainnet v1.0.2 (released on September 3)
project characteristics
The VeChain idea was first presented in 2015. It was developed as a blockchain platform for digitizing real-world information to create a system for registering goods in a supply chain and a management mechanism. The system is based on two main elements: marking products with smart chips and developing a blockchain base with information about each product.
This system will allow companies to simplify their supply chain and consumers get original, high-quality products. The aim of the project is to create a self-governing and scalable business ecosystem that ensures transparency of the flow of information and improves the efficiency of cooperation of all participants. The development platform has great potential worldwide and can be used in areas such as agriculture, automotive, retail, etc.
Service
VeChain benefits from many partnerships, with large companies and thanks to the support of the Chinese government. This year, the project team decided to expand the scope of its activities and started building a platform for decentralized applications and smart contracts that can be applied to many industries such as blockchain management. Procurement, Finance, Automotive, Tobacco, Internet of Things and more. At this point, investors have the opportunity to earn passive income by storing tokens.
VET tokens
After migrating to their blockchain, the project issued two tokens – VET and THOR (VTHO). VET is the local currency and platform base, which is required to process contracts. With tokens exceeding 1 million VET, holders can vote on network construction and node selection (1 VET = $0.01 THOR). Tokens are required to perform network transactions, launch applications, and smart contracts (similar to GAS on the NEO network). 1VTHO = $0.001
How to generate passive income with VeChain
Now let’s see how we can make money on this project and what needs to be done to make it happen. The main condition for winning is the availability of trading VET tokens on various crypto exchanges, such as: B. Binance, can be purchased. Depending on how much you want to invest in these tokens, there are two ways to generate income.
Option 1: Buy VET tokens and store them in your wallet. The advantage of this method is that there is no limit to the number and duration of tokens to be stored. All VET token holders who hold it in their wallets will receive THOR tokens in stock. So just buy any amount and put it in your wallet.
Calculation example:
- Investment Amount: $1,000
- Number of VET tokens: ~166,666 (at a ratio of 21/11/18)
- Earnings per day: 70 THOR (~$0.03)
- Earnings per year: 25,549 THOR (~$15)
- Yield: 1.5%
Calculator – https://thorcalculator.com/
Option 2: Be a button on the network
The network is supported by nodes divided into four tiers, and the minimum token purchase amount to become a VeChain network node is around $10,000 at the current rate. Payments for nodes are taken from the pool of tokens generated by VET.
The number of cards on the mainnet’s scheduled release date (31 December 2018) is VND 15 billion; Going forward, that number will decrease by 2.5 billion every six months.
- Strength: 1,000,000 VET (~$6,000), 10 days.
- Thunder: 5,000,000 VET (~$30,000), 20 days.
- Mjolnir: 15,000,000 VET (~$90,000), 30 days.
- Thrudheim: 25,000,000 VET (~$150,000), Lifetime Node Master.
Calculation example:
- Investment Amount: $6,000
- VET token value: 1,000,000 (strength)
- Profit per day: 570 THOR
- Annual income: 208,050 THOR (~$208)
- Yield: 3.4%
Key Stats: https://vechainstats.com/vtho-calculator/
Conclusion
As you may have noticed, these numbers are not very impressive. So it’s time to answer the main question: what makes this project an attractive investment in today’s environment? Consider the following factors:
- This project has great potential as proven by many factors including some major collaborations, current development status, Chinese government support etc.
- The THOR token has growth potential, with a significantly increased return on investment. For example, when the price of THOR reached its initial level (in late July and early August this year, it was $0.04), an investment of $1,000 returned 61% annually.
- The crypto market is in the red and it is still unclear when it will crash, but now is probably the best time for this type of investment.
ALARM: Investing in financial products involves a lot of risk and may not be suitable for all investors. Therefore, please think carefully and check yourself before you decide to link to this website. CryptoViet.com.