VeChain – one of the largest cryptocurrencies on the market
Are you considering investing in VeChain? Then it might be a good idea to familiarize yourself with it a bit, to assess to what extent it is a good investment or not.
VeChain is a cryptocurrency that was launched in 2016 and now this cryptocurrency is considered one of the biggest cryptocurrencies in the market.
However, VeChain is more than just a cryptocurrency. The platform is also used to keep an eye on supply chains .
In this article, we will get to know VeChain better, both as a cryptocurrency and how it is used in the work of managing supply chains.
What is VeChain?
As mentioned, VeChain is a cryptocurrency. This cryptocurrency was launched in 2016. At the time of writing (6 years after launch), VeChain is considered one of the largest cryptocurrencies on the market.
But as mentioned at the beginning; VeChain is more than just a cryptocurrency. The VeChain platform also plays an important role in connection with supply chains. A supply chain is a network of businesses that work together to move a product from the manufacturer to the customer.
VeChain is yet another example of how cryptocurrency is revolutionizing future solutions, from logistics to banking services. See how in this video:
The cryptocurrency VeChain
VeChain was launched in 2016, which means this is a 6-year-old cryptocurrency. In these years, the cryptocurrency has developed to become one of the largest cryptocurrencies on the market.
VeChain is a highly volatile cryptocurrency. This means that the course fluctuates up and down – sometimes so quickly that you have no idea what has happened until it has already happened.
The cryptocurrency VeChain has a market capitalization of around 5.4 billion dollars. It is part of the reason why VeChain is often referred to as one of the largest cryptocurrencies on the market.
The VeChain platform
The VeChain platform is also being used to keep track of supply chains from the moment they leave the manufacturer to the moment they arrive at the customer. This helps prevent fraud and counterfeiting, which has proven to work well and has led to VeChain being used by many large companies.
The business idea behind the VeChain platform is that the transport of supply chains should be efficient without affecting traceability and transparency along the way. In addition, this work will help to reduce costs and ensure that each individual consumer has more control.
Like most other cryptocurrencies, VeChain is highly volatile. This means that the VeChain course is characterized by large (and sometimes quite extreme) fluctuations. In practice, this means that the exchange rate can both rise and fall within a relatively short time.
By doing a price analysis, it is possible to take a closer look at the VeChain course and find out which factors affect the course. This is important if you want to get an overview of the historical price development in connection with the VeChain course.
- Supply and demand – this is a classic factor in the course of a cryptocurrency. High demand leads to the price being pushed up, as there is great interest in the cryptocurrency. In some cases, however, demand may be low, which means that the competition is not as high and thus the price will be lower.
- Number of coins in circulation – How many coins are in circulation of the cryptocurrency in question also has a lot to say. Today there are approximately 64 billion VeChain coins in circulation, which is much larger than, for example, Bitcoin with its 21 million coins. In other words, it is easier to get hold of VeChain than it is to get hold of Bitcoin, and that will push the price of VeChain down.
- The rest of the crypto market – Remember that the crypto market is constantly changing; not just the cryptocurrency you are interested in buying. The development of the crypto market as a whole will also have a lot to say about how the price of the cryptocurrency you want develops. The crypto market tends to follow each other closely, and following another cryptocurrency can give you a clue as to what might happen to the cryptocurrency you want to invest in in the near future.
As for what it will cost to buy VeChain in the future, it is not easy to predict. You have to be psychic to be able to predict that, but we can make a forecast based on the information we have right now:
- In one year (between January 2020 and January 2021), VeChain rose in price by 300 percent.
- Today, the price per VeChain is around 0.024 dollars ( check the rate right now ).
If the VeChain course continues at this pace, it is not inconceivable that the price per coin will be around NOK 6 (or more) by 2023. Watching how this develops is going to be very exciting!
Therefore, you should consider investing in VeChain
There are several reasons why you should consider investing in VeChain! Here is a small overview of some of the reasons why it would be a good idea:
- VeChain has a market capitalization of around $5.4 billion. The cryptocurrency’s rate has risen extremely in recent years, and is at the time of writing at $0.024!
- In just 6 years, VeChain has built up a good position in the crypto market. Due to its high market capitalization, it is not uncommon to refer to VeChain as one of the largest cryptocurrencies on the market.
- Investing in VeChain is very easy. You just have to get access to a trading platform where you can buy this cryptocurrency. We’ll get back to how you do that in a bit!
Here you can buy VeChain
Are you considering investing in VeChain? In a few years it may turn out that it was a very good idea! Only time will tell.
But investing in VeChain is a very easy process. As mentioned, you only need access to a trading platform where you can buy this cryptocurrency. You can get that easily by creating a user account/profile on the trading platform you want to trade on .
In addition to registering on the trading platform, the user account must be verified. You must also make sure to deposit money into the account, which will later go into your investment. But after that is done, then everything is ready to invest in VeChain.