What is VeChain crypto?
VeChain is a cryptocurrency that utilizes blockchain technology to enhance supply chain management processes. It aims to improve the efficiency and transparency of supply chain operations by providing a tamper-proof and decentralized platform for recording and tracking the movement of goods and products. VeChain is also designed to enable smart contracts and other digital asset management and data analytics features. Cryptocurrency is used as a means of payment for transactions and services on the VeChain blockchain network.
Who created the VeChain?
VeChain was created by a team led by Sunny Lu, the CEO of VeChain Foundation. The team behind VeChain has a background in supply chain management and blockchain technology and has been developing and implementing the VeChain platform since its inception. The VeChain foundation was established in Singapore in 2017 and has been working on developing blockchain solutions for various industries since then. The team includes other vital members, Jay Zhang, Kevin Feng, responsible for technical development, business development, and community management.
VeChain vs. Walton
VeChain and Walton are both blockchain-based projects that focus on supply chain management. However, there are some critical differences between the two.
VeChain is a blockchain platform that utilizes smart contracts and other features, such as digital asset management and data analytics, to improve the efficiency and transparency of supply chain operations. The platform is designed to record and track the movement of goods and products in a tamper-proof and decentralized manner. The VeChain cryptocurrency is used as a means of payment for transactions and services on the VeChain blockchain network.
Waltonchain, on the other hand, is a blockchain-based project that aims to create a decentralized ecosystem for the Internet of Things (IoT). The project is focused on integrating blockchain technology with Radio-Frequency Identification(RFID) technology to enable the real-time tracking and management of physical goods and products. The Walton cryptocurrency is used as a means of payment for transactions and services on the Walton blockchain network.
VeChain vs. Vethor
VeChain (VET) and Vethor Token (VTHO) are related but serve different purposes within the VeChain ecosystem. VeChain (VET) is the native cryptocurrency of the VeChain blockchain network. It is used as a means of payment for transactions and services on the VeChain blockchain. Additionally, it has value as a digital asset that can be bought and sold on cryptocurrency exchanges.
VeChain is focused on supply chain management, aiming to improve the efficiency and transparency of supply chain operations by providing a tamper-proof and decentralized platform for recording and tracking the movement of goods and products. VeChain uses smart contracts, and other digital asset management and data analytics feature to improve the supply chain process.
Vethor Token (VTHO), on the other hand, is a token that is used to pay for transactions on the VeChain network, similar to the way Gas is used on the Ethereum network. Vethor is a utility token needed to pay the transaction fee on the VeChain blockchain network. It is generated as a by-product of holding VeChain (VET) tokens. Each VET token generates a small amount of VTHO over time, which is then used to pay for the computational resources required to execute smart contracts and perform other operations on the VeChain blockchain.
VeChain is more about the overall supply chain management, and Vethor is more about the cost of transactions on the VeChain blockchain The critical difference between VeChain and Vethor Token is that VeChain is a cryptocurrency that has value as a digital asset and is also used as a means of payment for transactions on the VeChain blockchain. At the same time, Vethor is a token that is used to pay for the cost of transactions on the VeChain blockchain.
Where to buy VeChain?
VeChain (VET) can be purchased on different cryptocurrency exchanges. Some of the most popular and reputable exchanges for buying VeChain include Binance, Huobi Global, Bithumb Global, and OKEx. These exchanges allow users to buy VeChain with other cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), or with fiat currencies, such as USD and EUR.
Once you have chosen the exchange you wish to use, you must create an account and complete the necessary verification steps. After that, you can deposit your preferred currency (fiat or crypto) and purchase VeChain. It’s important to note that the process and requirements of buying VeChain may vary depending on the exchange and country you are in.
How to buy VeChain?
To buy VeChain, you will need to follow these simple instructions.
1. Choose a reputable exchange
The first step in buying VeChain is to choose a reputable cryptocurrency exchange that supports VET. Check the exchange’s reputation, security measures, and user reviews before proceeding. Some of the most popular and respected exchanges for buying VeChain include Binance, Huobi Global, Bithumb Global, and OKEx.
2. Create an account
After choosing a reputable exchange, create an account on the exchange and complete the necessary verification steps. This may include providing personal information, ID verification, and linking a payment method.
3. Deposit funds
Once your account is set up, you must deposit funds to the exchange. This can typically be done by linking a bank account, credit or debit card, or sending cryptocurrency from a personal wallet.
4. Buy VeChain
Once your account is funded, you can buy VeChain. Go to the exchange’s VET trading page and place an order to buy VET at the current market price or set a limit order at a specific price. Check the available trading pairs; for example, if you want to buy VeChain with Bitcoin, you should check if the exchange has a trading pair VET/BTC.
5. Withdraw and store in a wallet
After buying VeChain, it is recommended to withdraw the tokens to a personal hardware wallet for added security. This will give you control over your private keys and provide an extra layer of protection against hacking or theft.
How to stake VeChain?
To stake VeChain, you need to hold VET tokens and then use a VeChain wallet or a staking platform to lock up your tokens for a particular time. By doing so, you will earn a share of the network’s transaction fees through VTHO tokens. The longer you stake your tokens, the higher your rewards will be.
How to buy VeChain on Trust Wallet?
To buy VeChain on Trust Wallet, you will need to download and install the Trust Wallet app on your mobile device. Once the app is set up, you can add VeChain to your list of wallets by searching for it in the app’s coin marketplace. Once VeChain is added, you can purchase it using various supported cryptocurrencies, such as Bitcoin or Ethereum.
Is VeChain a Good Investment?
VeChain is a blockchain platform focused on supply chain management and logistics, and it has been gaining traction in the enterprise space. The platform has partnerships with major companies such as BMW and PwC. This is a positive sign of VeChain’s potential, which is why some investors see it as an excellent long-term investment.
However, as with any investment, it is crucial to conduct your research, consider your risk tolerance, and understand the crypto market is highly volatile. The value of VeChain can fluctuate significantly in short periods. It’s worth noting that crypto investments are considered high-risk; before making investment decisions, it is advisable to perform research and consult with a financial counselor.
The cryptocurrency sector may soon enter a new era. Since there is still anticipation that the currency will garner significantly more interest, the long-term price forecast for VET will rise.
Here is the price prediction of VeChain shortly.
|Year||VeChain Price Prediction|
|2025||$0.063 to $0.075|
|2026||$0.089 to $0.11|
|2027||$0.13 to $0.15|
|2028||$0.18 to $0.22|
|2029||$0.27 to $0.31|
|2030||$0.40 to $0.47|
Why is VeChain going up?
VeChain’s price may rise due to various factors, such as positive developments with the project, partnerships with major companies, and increased interest from investors. VeChain’s focus on supply chain management and logistics has made it an attractive option for enterprise use cases, which may drive more demand for the coin. The overall crypto market has been experiencing a bullish trend, which may be contributing to the rise in VeChain’s price.
How high can VeChain go?
The highest it can get is $1 based on reliable VeChain price predictions. One of these predictions expects the crypto to trade between $0.57 in January and $0.77 in December 2032-2034.
Will VeChain reach $1?
VeChain can reach $1 within the next few years or even more if this trend persists. Anything might happen in the cryptocurrency market, so this is by no means a guarantee. However, VeChain is positioned for long-term growth, and $1 seems like a reachable goal in the foreseeable future.
Is VeChain safe?
It’s difficult to say whether VeChain is “safe” or not, as it depends on how you define safety. VeChain, like any other blockchain platform, uses cryptography to secure its network and ensure that transactions cannot be tampered with. VeChain uses a dual-token system, which includes the VeChain Token (VET) and VeChainThor Energy (VTHO), designed to incentivize users to hold and use VET, which helps to secure the network.
The primary characteristics of VeChain are as follows.
|Cryptocurrency Features||VeChain (VET)|
|Publisher or Developers||VeChain Foundation|
|Jurisdiction of Incorporation (Registration Number)||China|
|Published Date (CMC Registration)||2017-08-22|
|Max Supply||86,712,634,466 VET|
Investment Suitability of VeChain in 2023
The results of the VeChain investment suitability evaluation conducted by Coin-Labs are as follows.
|Investment Suitability Rating Items||Scores and Current Status|
|Company Activation Rate||/ 10.0 CAR|
|Communication Rate||/ 10.0 CR|
|Technology Transparency Rate||/ 10.0 TTR|
|Development Participation Rate||/ 10.0 DPR|
|Listing Status on the Top 4 Exchanges in Korea||Listed on Exchanges|
|Listing Status on the World's Top 10 Exchanges||Listed on Exchanges|
|Number of Available Pairs Worldwide||212 Pairs|
|Market Cap of the Cryptocurrency||2,141,791,290,693 KRW (Rank #37)|
The price and recent trading volume of VeChain are as follows. (Data of 2023-01-27 17:30:25)
|Price Items||Price and Trading Volume of VeChain|
|VeChain Price||29.537 KRW|
|Price Change 24h||3.45%|
|Price Change 7d||18.47%|
|Trading Volume 24h||86,650,692,748 KRW|
|Trading Volume Change 24h||31.30%|
You can check the development status and social media information of VeChain through the links in the table below.
|🌎 Official Website||https://www.vechain.org/|
|📖 White Paper||https://www.vechain.org/whitepaper/#bit_65sv8|
|🛰️ Source Code (GitHub)||https://github.com/vechain|
|🎺 Message Board||https://vechainofficial.medium.com/|
Korean Crypto Exchanges where VeChain is Listed
Korean crypto exchanges where VeChain is listed in 2023 are as follows.
|Top4 Exchanges||Listed Status||Page URL|
World Crypto Exchanges where VeChain is Listed
World crypto exchanges where VeChain is listed in 2023 are as follows.
|Top10 Exchanges||Listed Status||Page URL|
Frequently Asked Questions
What is the current price of VeChain?
VeChain price today is 29.537 KRW. Furthermore, the price of VeChain has fluctuated by 3.45% from 24 hours ago, and by 18.47% from a week ago.
Where is VeChain listed?
Currently, it is listed on a total of among the 4 largest exchanges in Korea, and is listed on a total of among the world top 10 exchanges.
What is the market cap of VeChain now?
Currently, VeChain has a market cap of 2,141,791,290,693 KRW, which is ranking 37 among cryptocurrencies worldwide.
How much is the trade volume of VeChain?
Currently, 72,511,146,418 VET coins are circulating through 212 market pairs. As a result, in the last 24 hours, 86,650,692,748 KRW of VET coins were traded in the market.