What if we told you that there is currently a cryptocurrency that could make you rich in a very short time and that it is currently trading at less than 400% of its ATH? That it is in the top 50 cryptocurrencies by market cap and has more transactions than Bitcoin Cash, Dash, Ethereum Classic, Monero, Zcash, and many other altcoins? This is Vechain. It is very undervalued and is a great investment for new or old investors looking to diversify their portfolios. In this video, we're going to introduce you to the crypto VECHAIN and how it can make you extremely rich just by hitting its ATH again. So, watch this video till the end to get all the details of the Vechain project.
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Running on the VeChainThor blockchain, VeChain Crypto (VET) aims to merge the use of distributed governance and Internet of Things (IoT) technologies to create an ecosystem that solves key data barriers for multiple global industries, from medical to energy, food and beverage to sustainability and the SDGs. It helps with several global logistics systems issues to deliver the systems that businesses face.
In short, VeChain is a protocol that aims to address real-time, untrusted data sharing between multiple participants. Co-founded by Sunny Lu, VeChain aims to provide businesses with the technology to launch new types of DApps. Operating on proof-of-authority (PoA) consensus, the crypto VET can verify transactions in VeChain's public ledger, VeChain Thor.
Through PoA consensus, users can verify and add transactions to master authority nodes. Although the PoA mechanism can handle large volumes of transactions, it also relies on a central authority to ensure transparent transaction processing.
It was still down more than 10% at the time of registration, trading at $0.06, and the market capitalization is over $5 billion, ranked 34th. Its ATH was $0.27. But VeChain announced VeUSD, and that will add value to the project. Web 3 and DeFi are perfect for VeChain and add more utility to this project.
Projects with great utility, a great team, great technology, a great use case and a strong community are always going to do very well. "We're expecting this award to do a reversal. You know, we're just waiting for the right market conditions for the price to go back to its ATH by almost 400%. So, guys, this is a good time to get in and multiply your capital by 4 this year without doing anything.
In addition to its native VET token, the VeChain also uses VTHO, which is used for transactions on its blockchain. This ensures the volatility of VET coin prices. Thanks to its transparent system, it not only reduces slack but also reduces costs through trustless automation via smart contracts.
Experts predict that the VET token has the potential to grow in the coming years. Due to its unique protocol, it has the potential to grow by +500% over the next five years and they predict that VET could reach 500% by 2026. Only time will tell if it will reach such a level, but the recent news of VeChainThor's selection of the Mongolian government could also help it grow even stronger in 2022.
VeChain focuses on the blockchain platform and associated crypto-currency on enterprise supply chains and logistics. Its main objective, according to its white paper, is to improve the management of supply chains and related business processes. For example, many large companies are now using VeChain for inventory tracking purposes.
The addressable market for VeChain's area of interest could prove to be quite large. A 2020 study concluded that $300 billion worth of food could be tracked and traced on the blockchain by 2027.
Walmart has partnered with IBM and created the Food Trust Blockchain with nine other food companies to track supplies.
A Norwegian classification company called DNV has partnered with VeChain. It provides tracking services for 13,175 ships and mobile offshore units.
Now, where to buy VeChain?
VeChain still does not feature as prominently on the US stock exchanges. This should be seen as both a risk and an opportunity. On most of the exchanges where it is present, you can see most of the VET trading pairs and if you scroll down, you will see that there are only two gateways to trade fiat USD for VET.
The major US exchanges: Gemini, Coinbase, Kraken, still do not offer this for trading. Again, risk and opportunity - but please do your research before investing.
At present, this means EFP should be exchanged, ideally with BTC, USDT or ETH (if fees come down). Our recommendation would be to use a larger exchange like Binance US or Crypto.com because of their high volume and confirmed to operate legally under US rules.
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