Should You Invest in VeChain?

What is VeChain, and should you buy it? The most straightforward answer is YES! But Why should you invest in VeChain? This article will help explain the answer to that question and many more.


  • VET
    VeChain
  • Price
    $ 0.023389
  • Change
    0.55%
  • Marketcap
    $ 1.70 B
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In today's modern and hectic world, many business owners tend to find that they have a massive amount of goods and data that require real-time tracking and accuracy to help grow and expand their business.

Finding a reliable way to collect this information can be overwhelming and frustrating to some companies.  Many businesses, however, have come to rely on VeChain to address this problem and provide accurate, accessible, and reliable data.

Investing in VeChain (VET) allows you to be part of this ever-expanding and relied upon the process.  Keep reading and learn everything you need to know about this investment opportunity.

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What is VeChain (VET)? 

VeChain is so much more than just a cryptocurrency. VeChain is both a cryptocurrency and software that is part of the VeChainThor blockchain.

VeChain is an open-source blockchain network that improves the supply chain management and logistics problems that tend to arise in any business in today's modern global world.

One specific focus for VeChain in the business world is particularly on industries that rely heavily on retail, shipping, and manufacturing. VeChain "derives its value from activities created by members within the ecosystem solving real-world economic problems."

Businesses can use VeChain to track massive amounts of data and the goods they rely upon, whether that happens to be across town or across the globe, to make their business successful.

For example, a candle-making company could track the transportation of their waxes and their fragrances from all corners of the map to their warehouse in middle America by utilizing the RFID tags that VeChain uses.

Another example could be a restaurant that guarantees that all the food they serve is pasture-raised and certified transitional. VeChain aids in the transparency that makes that claim possible, with accurate tracking and data management. 

Who Are The Founders of VeChain?

In 2013, Sunny Lu, while working as the Chief Information Officer (CIO) for Louis Vuitton China, attended a technology conference. 

During that conference, Mr. Lu learned about blockchain technology.  Mr. Lu is one of the forerunners in creating the blockchain universe. He wanted to develop a "blockchain adoption [that] is driven by business needs."

When bitcoin crashed in 2013, Mr. Lu was looking for inspiration.  With the aid of co-founder Jay Zhang, he began working on the concept of what would eventually become VeChain in 2015. 

By the year 2017, Mr. Lu had founded VeChain. Since VeChain started as an accessory to one of China's already established blockchains, it had a solid customer base with established companies from the start.

VeChain now has investors from around the globe.

How Many VeChain (VET) Coins Are in Circulation?

VeChain coins currently have a circulating supply of 67 Billion VET coins and 86 Billion coins in total. VeChain offers a dual-token system: VeChain (VET) and VeThor (VTHO).

The VeChain (VET) token is the official VeChain token.  One exciting aspect of VET coins is that a person cannot mine them. Since VeChain (VET) coins operate on proof-of-authority, there are fewer computers that can make that validation. 

Some might find this to be a bit of a disappointment, but the removal of mining and the use of validators only leads to strengthening the VeChain coins.

You can, however, buy VET coins from specific exchanges, such as Uphold, KuCoin, or Binance. You will need a safe crypto wallet, such as VeChainThor Wallet, to keep this currency protected and ready for use.

How is VeChain Secured?

VeChain takes security very seriously, partnering with third-party companies to run diagnostic security tests and monitoring the network. 

Since VeChain is its own blockchain, you can trust that it is safe and secure. VeChain's use of the proof of authority (PoA) guarantees pre-approved, verifiable, openly-public accounts validate all transactions. 

Since many blockchains are permissionless, the PoA adds an extra layer of security to the VeChain network, guaranteeing transparency.

VeChain also offers products such as VeChain ToolChain™ to offer "protection and operation and maintenance capacities… can provide encryption services for the entire process of data storage and transmission."

You can also secure your VeChain assets with hardware and mobile wallets.

What Makes VeChain Unique? 

One of the qualities of VeChain that makes it such a unique investment is its focus on addressing supply chain issues. VeChain is unique in that businesses use it for specific tracking of goods and precise data for their business.

Companies can track physical, real-world items they need to buy or sell to make their business successful.  VeChain utilizes Radio Frequency Identification (RFID) tags to facilitate and expedite this tracking system. 

VeChain assigns a unique identity to every product, then employs sensors (RFID) to monitor every stage of the supply chain.

For any business that needs to know precisely where and how every material they use came from and how it got to them, VeChain makes that possible.

VeChain Alternatives

bitcoinBitcoin
$ 20,654.000.95%
ethereumEthereum
$ 1,095.191.22%
tetherTether
$ 1.000.15%
usd-coinUSD Coin
$ 0.9996440.47%
bnbBNB
$ 216.360.16%
binance-usdBinance USD
$ 1.000.44%
cardanoCardano
$ 0.4913680.04%
xrpXRP
$ 0.3213250.01%
solanaSolana
$ 31.580.55%
polkadotPolkadot
$ 7.360.14%

Should I Invest in VeChain?

Should you buy VeChain (VET)? Again, the answer is YES, and the reasonings should make that answer even more transparent. 

As today's global markets continue to expand and businesses continue to need faster, more reliable, and more efficient ways to track all their essential goods and data while also allowing for transparency to consumers, VeChain (VET) will continue to fulfill that need.

Investing in VeChain (VET) allows you to become part of the growing business market and to support the VeChain's vision of "lowering the barrier and enabling established businesses with blockchain technology to create value and solve real-world economic problems."

Investing in VeChain is a solid investment in the future.  Since VeChain (VET) is constantly ranked as a top 25 cryptocurrencies and continuously strives to fix supply chain issues, it will continue growing and expanding. 

By partnering with innovative and cutting-edge companies, buying VeChain (VET) is an investment you cannot afford not to make.

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