How to make a passive income with a Vechain ?
The cryptocurrency market is in a recession, investment in ICO and trading have not brought profit for a long time. Nevertheless, this market still allows you to earn money, and now is the right time to look at it in terms of the possibility of obtaining passive income. I will consider the most promising projects in terms of passive income. One of these projects, which will be discussed in this review, is VeChain.
VeChain Purpose: DApps, smart contracts, supply chain management
Geography: Offices in different countries of the world. 111 nodes in the UK, Germany, Japan, China, and South Korea
Company: Managed by the non-profit organization VeChain Foundation.The founder and CEO of the project is Sunny Lou
Current development stage: Mainnet v1.0.2 (released on September 3)
The idea of VeChain was first introduced in 2015 and was originally in the development of a blockchain platform for digitizing information from the real world to create a registry system for goods in supply chains and a mechanism for managing them. The system is based on two key elements – product labeling with smart chips and the formation of a blockchain base with information on each product. The system will allow companies to simplify the supply chain, and consumers will provide high-quality original products. The goal of the project is to create a self-managing and scalable ecosystem for business, which will ensure the transparency of information flows and increase the efficiency of cooperation of all parties involved. The developed platform has great potential in the real world and can be used in many areas, such as agriculture, automotive, retail, etc.
Many partnerships, including with large companies A wide scope of application Chinese government support This year, the project team decided to expand the scope of activities and begin to develop its platform for decentralized applications and smart contracts, which can be applied in a huge number of different industries, such as supply chain management, finance, automotive, tobacco, Internet of Things and more .P. At this stage, there is an opportunity to receive passive income for storing tokens.
After switching to their blockchain, two types of tokens were released as part of the project – VET and THOR (VTHO). VET is the internal currency and the basis of the platform, necessary for the settlement of contracts. The presence of tokens in the amount of more than 1 million VET, gives the holder the right to participate in voting on the development of the network and the choice of nodes. 1 VET = $ 0.01 THOR – tokens needed to complete transactions in the network, launch applications and smart contracts (similar to GAS in the NEO network). 1 VTHO = $ 0.001
How to get passive income
So now we will look at how we can make money on this project and what needs to be done to do this. The main condition for obtaining income is the availability of VET tokens, which can be purchased at various cryptocurrency exchanges, the largest trading volume – at Binance. Depending on the amount you are willing to invest in these tokens, there are two options for generating income:
Option 1: Purchase VET tokens and store them in your wallet. The advantage of this method is that there are no restrictions on the amount or period of storage of tokens. All holders of VET tokens that store them in their wallet receive THOR tokens upon storage. Therefore, it is enough to purchase them in any quantity and put them on the wallet.
Investment amount: $ 1000
Number of VET tokens: ~ 166,666 (at the rate as of 21/11/18)
Profit per day: 70 THOR (~ $ 0.03)
Profit per year: 25,549 THOR (~ $ 15)
Calculator – https://thorcalculator.com/
Option 2: Become a node on the network.
The network is supported by nodes, divided into four levels, and the minimum amount to buy tokens to become a node in the VeChain network at the current rate is about $ 10,000. Payments to the nodes are taken from the pool of tokens created by the VET.
The number of tokens on the planned launch date of the main network (December 31, 2018) is 15 billion, in the future this number is reduced by 2.5 billion every six months.
Strength Nodes: 1 000 000 VET (~ $ 6 thousand), 10 days.
Thunder Nodes: 5 000 000 VET (~ $ 30 thousand), 20 days.
Mjolnir Masternodes: 15,000,000 VET (~ $ 90 thousand), 30 days.
Thrudheim Masternodes: 25 000 000 VET (~ $ 150 thousand), permanent master node.
Investment amount: $ 6,000
Number of VET tokens: 1,000,000 (Strength Nodes)
Profit per day: 570 THOR
Profit per year: 208,050 THOR (~ $ 208)
Node statistics : https://vechainstats.com/vtho-calculator/
As you see, the figures are not very impressive. Therefore, it is time to answer the main question – what makes this project attractive for investment in the current environment?
1. The project has high potential, as evidenced by many factors, including a large number of large partnerships, the current stage of development, etc.
2. THOR tokens have growth potential, in which case ROI can grow significantly. For example, when the THOR price reaches the initial level (at the end of July and the beginning of August of the current year, the price reached $ 0.04), an investment of $ 1000 will bring 61% per annum. 3. The cryptocurrency market is in the red zone, and it is not yet clear at what point it will reach the bottom, however, it’s probably the best time for this kind of investment right now.
One should invest when there is a maximum fear, but this not an investment advice.