Is VeChain a good investment in 2022?

What is VeChain?

With more and more investors starting to pay attention to VeChain, Bexplus Analysts take you to analyze whether VeChain is a good investment? VeChain is a digital currency that aims to improve supply chain management processes. However, the Platform hosts two tokens to make transaction fees stable-VTHO and VET. It suffices to remark that VET is the oldest coin on VeChain. Therefore, VET’s primary use is to transfer value across the network.

In addition, VeChain makes efficient information flow and business processes for supply chains. However, it uses distributed ledger technology to streamline the processes. Therefore, VeChain provides a complete view of a business by digging up data silos.

Besides, VeChain argues that its goal is to form a trusted business ecosystem. This is to help efficient collaboration, transparent data flow, and transaction speed. Moreover, VeChain currently categorizes Supply Chain data in silos among investors. Nonetheless, this affects the data flow distributed among the shareholders.

It is important to note that the risk/reward ratio of VeChain s almost 9:1. However, this makes VeChaina a better investment than Bitcoin and Etherium. The founder of VeChain intended to use blockchain for mass business adoption. Moreover, VET is the token that carries the value from the small contracts. That is, all transactions occurring on the decentralized applications use the VET.

Vechain’s Price History

2017

VeChain officially started trading in August with a price of $0.109926. However, in October, the price increased to $0.254210. In November, the price was reduced to $0.244841. Moreover, the VET price shot up rapidly in December where the coin was trading at $3.6800.

2018

2018 started at a high pace, with VET trading at $6.0600. However, the price increased to $8.05000. Moreover, the February VET price dropped to $5.0340. The trend continued until March, when the price started trading below $0.3.

In July, VET was trading at $0.023284. However, the price of most cryptocurrencies began dropping in 2018. Likewise, VeChain price started dropping in August. Therefore, the price was below $0.01942. It was a great point to make long investment on Vechain. Consequently, in September, the price was trading at $0.013809. Furthermore, in December, the price fell further, and VET was trading at $0.004737.

2019

In January 2019, the VET price was trading at a low price. However, the price improved in February, and VET hit $0.05918. Similarly, in the next month, the price was trading at $0.007647. The price fell in July where the coin traded at $0.005592.

However, the downfall continued as the coin sold below $0.004349. Moreover, in November, VET broke to a new high of $0.007364, marking a new high. Consequently, the price remained high until December.

Is Litecoin a good investment

2020

In January, the VET price was high than that of December 2019. As a result, the coin was trading at $0.008253. However, in March, the price fell to $0.004801. In addition, the price improved in two months; however, in June 2020, the VET price hit a high of $0.009726. However, this was different with July, where the price broke to a new high of $0.021836.

Moreover, in august 2020, the VET price was trading at $0.017434. This was a slight drop compared to the previous month. In November, the price shot up to $0.021071, recording a new high. Therefore, the price will remain high towards the end of 2020.

1st January – 2nd November 2021

The year 2021 started with a high note where the VeChain coin was trading at $0.055018. This was a new high compared to the previous years. However, in February, the price increased to $0.09417. Moreover, in April, the VeChain coin increased in value and was trading at $0.235511.

Furthermore, in June, the VET coin traded at $0.090928. However, the price drastically fell in October was VET traded at $0.130395. Consequently, the price increased to $0.140041 by 3rd November 2021.

YearMaximum PriceMinimum Price
2017$3.6800$0.244841
2018$8.05000$0.013809
2019$0.007647$0.004349
2020$0.021836$0.004801
January- September 2021$0.235511$0.055018

Comparison between VeChain and other cryptocurrencies

VeChain vs. Bitcoin

Investors expect VeChain to generate more investment than Bitcoin. However, Bitcoin is less volatile than VeChain. In addition, VeChain uses high-speed value transfers. However, Bitcoin takes a lot of time to process payments. Thus, Bitcoin uses a proof of work mechanism to prove the work done by the participants.


Unlike Bitcoin, VeChain is not mined. However, It uses proof of authority to confirm the transaction. Additionally, the supply of Bitcoin is 20 million. Also, the supply of VeChain (VET coins) is 86 billion. Therefore, the cryptocurrency has more than 64 billion circulations in the market already. It is important to note that VeChain ranks among the best cryptocurrencies in the world. Furthermore, VeChain is not decentralized, while Bitcoin is decentralized.

VeChainBitcoin
Availability supply is 86 billionAvailability supply is 20 million
Not decentralizedDecentralized
Breakneck speedDeficient speed

VeChain vs. Binance coin

VeChain uses codes to track products from factories to retailers. However, Binance uses ERC-20 token based on the Ethereum blockchain. In addition, VeChain is faster than compared to Binance coin. Also, the VET coin is cheaper to buy than the Binance coin. Thus, an investor will prefer to invest with VeChain because it is affordable.

Binance Coin can be mined, while VeChain is not. Besides, Binance coin is more decentralized than VeChain. It is important to note that the available supply of VeChain is 86 billion. However, Binance coin’s availability is 166 million BNB.

VeChainBinance coin
Availability supply is 86 billionAvailability supply is 166 million
Not decentralizedDecentralized
fast speedDeficient speed
cheapexpensive

VeChain vs. Dogecoin

It’s totally different if a trader make an investment on VeChain, compared to DOGE. The major one is that VeChain is a faster cryptocurrency than Dogecoin network. Besides, it is cheap to transact VeChain. In addition, it is impossible to VeChain. However, one has to mine Bitcoin or Dogecoin and covert them to Vechain. Moreover, unlike Dogecoin, VeChain is not decentralized

VeChainDogecoin
Not minedMined
DecentralizedDecentralized
fast speedDeficient speed
cheapexpensive

VeChain vs. Litecoin

There are several differences between Litecoin and VeChain. First, Litecoin uses Script algorithm while VeChain uses VeChainThor Authority. Also, the prototype includes PoW and proof of authority. However. People mine Litecoin, while VeChain is not mineable. Besides, Litecoin is decentralized while Vechain is not.

Based on the cost transactions, VeChain is more cheaply compared to Litecoin. In addition, the block time of VeChain is 3.9 faster than that of Litecoin. Furthermore, the total supply of Litecoin is 84 million LTC, while VET coin is 86 billion.

VeChainLitecoin
Availability supply is 86 billionAvailability supply is 84 million
Not decentralizedDecentralized
Fast speedDeficient speed
cheapexpensive
Not minedMined
VeChainThor Authority algorithmScript algorithm

VeChain vs. Ethereum

VeChain is less popular compared to Ethereum. However, it is gaining traction very fast. This is because of the affordable cost of transactions and faster transfers. Besides, Ethereum is more decentralized than VeChain. Therefore, it is possible to mine Ethereum. In addition, Ethereum supply is unlimited while VeChain supply is 86 million.

VeChainEthereum
Availability supply is 86 billionUnlimited in supply
Not decentralizedDecentralized
Breakneck speedDeficient speed
Not minedMined
cheapexpensive

VeChain vs. Cardano

It is important to note that Cardano lives in the shadow of Ethereum. However, VeChain lives in its dominating sector. As a result, Investors consider VeChain as a better investment than Cardano. This is because VeChain VER is deflationary while Cardano has inflation. In addition, VeChain process transaction faster compared to Cardano. Besides, it is also a cheaper payment network. Thus, Investors are unable to mine both VeChain and Cardano. Cardano uses proof of stake, while VeChain uses VET codes.

VeChainCardano
deflationaryHas inflation
Not decentralizeddecentralized
Breakneck speedDeficient speed
VET codesProof of stake

VeChain vs. Ripple

Comparing the effects on market volatiles, VeChain is 1.33 times volatile than Ripple (XRP). It suffices to remark that XRP (Ripple) is cheaper than VeChain. However, Ripple has no cost of transitions. Ripple is 6.81 faster than VeChain. Besides, VeChain is not decentralized. However, Ripple connects to banks and other financial institutions.

VeChainXRP (Ripple)
Slower than RippleFaster than VeChain
Not DecentralizedNot decentralized
cheapLess cheap

What do people think about VeChain?

Vechain is an exciting and legit project associated with real-world applications. However, VeChain has excellent growth potential. This is due to the established partnerships with many leading enterprises. Therefore, VeChain aims to solve the problem of supply chain management. For example, data errors and counterfeiting, by allowing manufacturers to track their products.

Also, another added advantage of the cryptocurrency is the high profitable VET coins. The crypto is a perfect fit for business owners as the records are permanent and can’t change. Moreover, Historical data is available for beginners and investors who trade VeChain. However, the Chinese government supports cryptocurrency. However, the VeChain is independent of government interference, hence maintaining trust.

FAQ

Where to buy VeChain

You can buy VeChain on a crypto exchange like Coinmama or Coinbase. However, you need to create an account (VeChain wallet) and get approved to buy VeChain. Once approved, accept the VET coins and then transfer them to your hardware wallet.

How to buy VeChain

You can buy VET with a debit card or credit card on a crypto exchange. However, Vechain tokens are not tradable in Bexplus or Gemini. You can trade VET on the Binance Platform. However, Open an account with Binance and create a VeChain wallet. For you to buy and sell, the account must be approved. However, once it’s approved, make your purchase.

How to mine VeChain

It is important to note that people are unable to mine VeChain. However, the system uses consensus called the proof of work to validate transitions. As a result, “masternodes” approve all transactions. However, the digital wallet generates VTHO every 10 seconds. However, the maximum you can mine is 0.000432VTHO per day.

Should I buy VeChain

Yes. We strongly recommend you to buy VeChain. VeChain is one of the fastest and affordable blockchain networks. However, it is more volatile than most cryptocurrencies. Therefore, the volatility proves an execution ecosystem for running technical functions against VeChain.

Moreover, VeChain is a good investment because the ratio/reward rate is 8.92:1. This rate is better than that of Etherium and Bitcoin. Thus, the future of VET is solid with improved technology, a good team, and many real-world use cases.

What is the future of VeChain

The future of VeChain is excellent as the crypto coin is expected it rises to $0.15. The current price is $0.11. However, VET will continue to grow, and it may increase by 0.024 in 2024. Therefore, most analysts predict that VeChain will be a good investment in the future. Moreover, VeChain has shown positive results from the time it was launched to the market.

VeChain is a multifunctional blockchain that has high demand in the market. However, those who will invest with VeChain for the long term are the ones who will succeed the most.

Summary

VeChain is one of the best cryptocurrencies to invest in. VeChain aims at rationalizing corporate processes and data flow to supply chains.  Unlike other cryptocurrencies, VeChain has a cheaper cost of transactions.

Nonetheless, the trades are confirmed in seconds, making it efficient for the users. Therefore, VeChain is a public blockchain that accommodates users of all sizes. Moreover, it intends to serve as a scalable business blockchain and sustainable ecosystem.

Purchasing VET tokens is just better than buying another crypto token. This is because the token has enormous profits. In addition, buying VET-USD is helpful because you get two coins instead of one. Therefore, the system is more effective reasonable and provides privacy protection solutions. Moreover, VeChain uses PoA blockchains secured by the validation codes. The system selects PoA as a trustworthy entity at random.

VeChain is about building trust and efficiency in the business world. However, the Platform offers a diverse ecosystem with several builders from institutions. Therefore, VeChain is a good investment.