VeChain (VEN) Price

What is VeChain?

VeChain is a blockchain platform that focuses on financial services and tracing supply chains. The Singapore-based cryptocurrency makes it easier to collect and share crucial product information with retailers, manufacturers as well as consumers. The platform has been implemented successfully by industries like agriculture, luxury goods, and liquor. With the help of an in-house built chip, VeChain tracks items like food, bags, wine throughout their lifecycle. The smart chip can be implemented in an array of items such as wine, luxury bags, food, among others via a technology known as RFID (Radio Frequency Identification). The chip helps in collecting, storing and reviewing details of the products. This technology plays a vital role in ensuring the quality of the product across industries.

Started as a project in 2007, VeChain coin was officially launched in 2015 and it started trading in 2017. It was founded by Sunny Lu who is also the co-founder of China’s largest blockchain technology company, BitSE. VeChain Foundation recently rebranded and renamed the crypto as VeChain Thor. VeChain coins use to trade on the exchanges under VEN. However, post the rebranding in February 2018, the VeChain platform uses two different tokens VeChain Tokens (VET) and Thor Power (THOR).

Features of VeChain

Most of the cryptocurrencies go with either Proof of Work or Proof of Stake to mine or hold the coins. Meanwhile, VeChain takes a different approach and run on Proof of Authority which comprises of a number of masternodes in addition to several categories of lower-rank nodes.

Where to buy VeChain?

The VET tokens are available on exchanges like Binance, Lbank, Huobi and others. As of May 16, 2018, the market capitalisation of VeChain tokens was $2,392,308,783 while the price of one VEN token was $4.55.

VeChain Mining

VeChain tokens cannot be mined.

VeChain Wallets

VeChain tokens can be stored in any wallet that supports ERC20 like MyEtherWallet.

Price Trends

DateOpenHighLowCloseVolumeMarket Cap
5/30/20183.493.573.253.38183791000064795600
5/29/20183.133.523.043.49164520000058926800
5/28/20183.483.553.093.1182997000059873300
5/27/20183.553.553.433.48186526000059583000
5/26/20183.593.693.493.54188638000059082100
5/25/20183.793.813.513.6199341000065838800
5/24/20183.513.793.43.77184766000066549500
ViewMoreLess

Risks involved with investing in VeChain

Investing in cryptocurrencies can be risky as it is subject to government regulations. They are also volatile in nature and hence it is not easy to predict the rise and fall in the price. Instead, investing in mutual funds could be a better option as it is more reliable.

Disclaimer:

"The Reserve Bank of India (RBI) and Ministry of Finance has frequently cautioned the users, holders and traders of virtual currencies regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with virtual currencies. RBI also further clarified that it has not given any licence/authorisation to any entity/company to operate schemes or deals related to Bitcoin or any virtual currency. RBI has also barred its regulated entities from dealing or providing services to any individual or business entities dealing with cryptocurrency. The Ministry of Finance has also officially stated that virtual currencies are not legal tender or coin.

A&A Dukaan Financial Service Private Limited (“BankBazaar”) does not endorse investing or dealing in virtual currencies in any manner. The information provided on our website is solely for illustrative purposes and should not constitute investment advice or assistance in investing or dealing with crypto currencies. If you decide to invest or deal in cryptocurrencies, you should be aware that you will be dealing with the respective individuals or business entities dealing in cryptocurrency and BankBazaar has no role in any manner in such transactions or dealings. We strongly advise our visitors to invest in legally recognised financial instruments rather than risking their capital on virtual currencies which are unregulated instruments."

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.