Finding the best place to stake VET VeChain in 2022 is a must. I mean who doesn’t want to earn some passive income holding this crypto. First lets discuss why VeChain is such a good crypto project to get involved with.
Why Invest In Vechain?
VeChain is a decentralized blockchain platform that was designed to facilitate smoother and faster supply chain management. The blockchain also offers support to various business processes. Due to its design, this network provides a clear view of an entire organization by acting as an intermediary for information from data silos. This platform aims to streamline these processes and provide faster working operations for larger supply chains. VeChain can give numerous benefits because it runs on distributed ledger technology (DLT).
The VeChain platform has two native tokens: VeChain Token (VET) and VeChain Thor Energy (VTHO). While VET serves as a token that transfers value across the platform, VTHO is a token that facilitates intelligent contracts. Developers of VeChain intend to make the platform the industry leader for initial coin offerings (ICOs) and for supporting transactions on Internet of Things (IoT) networks.
Launched in 2015, VeChain has been around for a relatively short time. Due to its capacity to improve the supply chain of businesses, this decentralized platform has quickly been adopted by Deloitte, Louis Vuitton China, BMW, and other industry leaders. Initially, VeChain was run on the Ethereum blockchain before developers moved it to a self-run ecosystem. This platform also has a reputation for being the first crypto project to attend to business needs.
How Does VeChain Staking Work?
The VeChain platform is run on a Proof-of-stake algorithm. The blockchain platform adopts a two-token model that prevents unnecessary speculations. It enhances simple network management. Crypto enthusiasts and users of this network can stake VET tokens to earn rewards and for a chance to participate in decision-making on the platform. Staking rewards are paid to users in the form of VTHO tokens.
Staking involves locking away digital assets for some time to earn rewards in the form of another token. Users can stake their VET tokens in either of two ways; by running a masternode and staking in a cryptocurrency wallet. Running a master node is a more complex staking procedure than locking it in a wallet. While it also demands more technical knowledge and consumes more resources, owning a master node will earn more rewards.
If you decide to run a master node, there are four holding tiers to choose. They include:
- Strength (at least 1 million VET tokens)
- Thunder (at least 5 million VET tokens)
- Mjolnir (at least 15 million VET tokens)
- Authority Node (at least 15 million VET tokens)
Regardless of the price of one VET token at any period, it’s clear that staking in your token’s masternode in a master node will be a sizeable financial investment.
For those who don’t have the technical knowledge or financial resources to run a masternode, you may decide to stake your coins in a cryptocurrency wallet. It costs a lesser amount of cash, and you’ll still earn rewards on the tokens you lock away. Numerous cryptocurrency wallets can be downloaded in an instant. But not all of them offer staking features, especially VeChain staking. You need to pick a wallet that is convenient to use and supports this feature too.
VeChain Staking On Binance US
If your looking for the best place to stake VET VeChain in 2022 we highly recommend Binance US. This crypto exchange platform is an extension of Binance.com designed for United States residents. Binance US has released a feature that allows users to stake VeChain tokens on the forum. The crypto platform describes the act of locking away your VeChain crypto assets as a high-yield activity. When you stake your VET on Binance US, you will earn 8.97% APY. Rewards are paid in the form of VTHO tokens.
Binance US designed their staking feature with a locked-staking format. Tokens will be locked for a period that the platform will specify in the staking contract. This crypto exchange lets users keep track of their staked digital assets and rewards through their wallets. When staking VET tokens on Binance, keep in mind that your APY is adjusted daily and may be subject to various factors. It will also take 24 hours to unlock your staking products.
Users are allowed to withdraw their tokens before the staking period is over. Early redemption of tokens means that the user will only receive their principal without getting any VTHO rewards.
Interest Rates for VeChain Staking on Binance US
The following table contains vital information on the interest paid for staking your VET tokens on Binance US:
|Digital Asset||Duration||Maximum Staking Limit Per User||Standard Annualised Interest Rate||Minimum Staking Limit Per User|
|VET||15 days||1,000,000 VET||3.47%||1 VET|
|VET||30 days||500,000 VET||4.7%||1 VET|
|VET||60 days||500,000 VET||5.79%||1 VET|
Benefits Of Using Binance US
Staking is different from regular trading. It’s an investment-like feature that is incorporated into crypto wallets, including Binance US.
When you stake your coins, their value does not increase if you keep them in your wallet. Instead, you’ll earn rewards in the form of another token. Binance US is a secure crypto exchange platform to stake your VET tokens. While you will not gain administrative power in the VeChain ecosystem, you will be paid dividends at the end of the staking period.
Staking your tokens on Binance US will protect your digital assets against volatility. The price of your token will remain the same even during huge dips that reduce the value of altcoins on the market. This platform also offers you a reliable crypto-based investment that pays dividends after a specified period.
Other Coins Available for Staking on Binance US
Asides from VET tokens, users can stake the following coins on Binance US;
There are no fees charges on staking coins on the platform. They have designed the staking feature to offer traders a means to earn as much as possible. Rewards will also be distributed to eligible individuals without deducting any additional charges. While it’s difficult to guarantee or accurately determine the rewards for the tokens you have staked, Binance US optimizes market activities to make sure to get the highest possible returns.
If you were looking for the best place to stake VET VeChain in 2022 we hope this helps you out. Without any doubt, VeChain is a crypto project with promising potential. If you are interested in keeping your tokens for extended periods and earning rewards on your holdings, staking is a recommended strategy to try out. Binance US makes it possible for users to stake their available tokens and earn rewards. By staking on Binance, you’re also contributing to the future of VeChain.