This exclusive guide about the best places to stake VeChain(VET) covers all details including fees, security, and ROI.
Passive income was and still is a very popular strategy to become rich and is being used by many investors globally for the last centuries. Additionally, there were many ways to generate a passive income that is still available today. However, there are new options that are growing and expanding in the cryptocurrency market.
One concept is called staking which in short allows cryptocurrency holders to earn additional cryptocurrency with low-risk.
In this guide, I’m going to discuss the best places to stake Vechain or VET tokens. Also, a detailed plan to start staking VET tokens on the different platforms.
What is Vechain staking?
Vechain(VET) is a cryptocurrency with a limited supply of coins. In particular, because of their underlying Proof-of-Stake architecture, the Vechain network allows its users to participate in the network by validating transactions. Moreover, participation is as simple as locking up VET tokens on several nodes or cryptocurrency wallets on the network for a specific time interval. In return for locking up VET tokens, users are rewarded with additional cryptocurrency.
In other words, no specific technical expertise or confusing tech stuff is needed. You just simply lock up your VET coins in a wallet and get rewarded while you sleep! 😁
Best Places to Stake Vechain(VET)
In short, below a consolidated list of places to stake Vechain(VET) and get rewarded with the brand new cryptocurrency.
- Trust wallet – Software wallet that stores the private key on your phone and allows you to hold and stake 14 coins
- Atomic wallet – Software wallet that also stores the private key on your device and stores 300 coins and tokens
- Exodus – Software wallet that stores 30 coins and holds your private key on the device
- Binance – Worlds most popular cryptocurrency exchange with almost zero fees
- Crypto.com – Worlds fastest growing exchange with the most coins available for staking
- Ledger Nano - The most secure cryptocurrency hardware wallet to store your crypto offline.
Why Should I stake Vechain(VET)?
As explained earlier staking VeChain allows you to earn a passive income in cryptocurrency while you sleep. Generally speaking, why should you stake Vechain? This is a good question and in my opinion Vechain is one of the most promising blockchain projects in the world, listed as 29th on Coinmarketcap.
In the first place, since the entire cryptocurrency market took off in 2017, VeChain witnessed massive growth even during the bear market in 2018. The single most reason for this is that VeChain operates as a global leader in logistics and product authentication.
Therefore big companies from all over the world are interested to integrate their supply chain in this new blockchain network. A good example is De Cecco which is an Italien pasta producer. Also, there is the collaboration with the University of Oxford to upgrade and optimize its BaaS network.
How does VeChain staking work?
Above I have given you a glimpse on places to stake VeChain, however, how does this staking process work?
Particularly, VeChain has build an entire on-chain economy which is based upon two tokens: VET and VTHO. The most important reasons for splitting this up are transactions fees. Every blockchain network out there has to deal with transactions being stored and consequently fees to pay for those transactions.
In order to keep transactions low and at a stable rate the VTHO token is being introduced. This way, the VET price can increase in value without transactions going up as well. Staking VET tokens from a wallet means, that you will get rewarded in VTHO tokens(1 VET generates 0.000432 VTHO for every single VET you are holding in your wallet).
VET vs VTHO: The differences
|VeChain Token(VET)||Thor power(VTHO)|
|Use case: Store of value and smart payment currency.||Use case: Needed to interact with the blockchain for certain operations, like executing smart contracts and transferring tokens. If you want to write data to the blockchain, you have to pay for this using VTHO.|
|How to get: On cryptocurrency exchanges like Binance or Kucoin||How to get: You will generate Thor when owning VET. Currently, 1 VET generates 0.000432 VTHO per day.|
Best platforms to stake Vechain(VET): Comparison
This comparison guide provides an overview of where to stake Vechain to earn rewards and a passive income. The research is based on assessing the platform’s features, estimated annual yield, fees for buying crypto and security.
|Platform||Estimated ROI||Minimum holdings||Fees||Rating|
|Binance||1.1% VTHO||1 VET||0.03%||4.7 / 5|
|Crypto.com||0.5% VTHO||18,000 VET||0.10%||4.1 / 5|
|Ledger Nano||1.1% VTHO||1 VET||1.7 – 4.5%||4.7 / 5|
|Atomic Wallet||1.41% VTHO||10,000 VET||2.00%||4.5 / 5|
|Trust Wallet||1.1% VTHO||1 VET||5.00%||4.7 / 5|
|Exodus Wallet||0.93% VTHO||1 VET||5.00%||4.5 / 5|
Staking Vechain at Cryptocurrency Exchanges
If you already have an account at Binance or Crypto.com, then the easiest way would be to start staking Vechain there. Below I’ll explain the exchanges for staking Vechain(VET) in more detail.
Based on daily(24h) trading volumes, Binance is the biggest cryptocurrency exchange in the world. Also, it has millions of cryptocurrency traders using its platform on a daily basis. Besides trading, Binance offers several other feature-rich products, including custodian wallets, crypto margin trading, lending service, and earning rewards with staking.
|If you want to know more about the difference between staking and crypto lending. Read the article we wrote about crypto lending vs staking. It explains very clear two very popular passive income strategies in the crypto industry.|
Trading a Binance can be done with almost zero fees(0.075%) if you use this link when signing up. It will give you an extra 10% discount on fees for life 🙂
In particular, Binance offers 25 staking products such as Vechain for its users to enjoy free staking rewards by simply depositing and holding coins on Binance. Moreover, there are no fees to stake VET tokens on Binance. Additionally, staking VET starts from 1 VET to a maximum of 2,000,000,000 VET per account. All profits earned are shared with Binance users to maximize staking rewards.
The benefit of staking Vechain on Binance is that cryptocurrency traders can opt to stake VET while waiting for a trade. Traders can benefit from the staking rewards in addition to potential trade profit.
Steps to start staking Vechain at Binance
To start with staking Vechain(VET) at Binance, follow these steps:
- Create a free account at https://www.binance.com
- Navigate at ‘Finance’ at the top menu and choose ‘Binance Earn’
- Find VET in the Flexible Staking list(you have to scroll down a bit)
- If you don’t have VET funds in your wallet ‘market buy’ some or deposit
- Click ‘Transfer’ button and store VET tokens here
|🔔 If you are interested in trading, buying or selling crypto(Vechain) but don't have experience with a trading interface. Read my helpful guide: Start crypto trading at Binance.|
Crypto.com is another cryptocurrency exchange, however, contrary to Binance this exchange is relatively new. Despite being young and late to this space, Crypto.com managed to grow massively in 2019 until today. For instance, CRO the token being used on its platform is listed 17th on Coinmarketcap worth around $1.6 billion at the time of writing.
For trading purposes, this Crypto.com works very fluently from mobile devices(Android, IOS) but you can also access the exchange by browser. Other products Crypto.com is offering are a crypto debit card, custodian wallets, and staking services.
Trading at Crypto.com will costs you 0.1% fees for every order created on the platform. Moreover, if you use this link to sign up(Referal code: bbgjvexeng) you will get $50 in crypto back after setting up your first trade.
Particularly, staking at Crypto.com can be done with 28 different cryptocurrencies(including Bitcoin ) and Vechain is also one of the coins available. Besides, staking VET on Crypto.com requires no additional fees and you only have to deposit your funds here.
Steps to start staking Vechain at Crypto.com
To start with staking Vechain(VET) at Crypto.com, follow these steps:
- Create an account at Crypto.com exchange(browser) here, or
- Create an account for the Crypto.com App here
- Deposit CRO(5000) and stake it from the wallet, it’s mandatory for staking services. Use the referral code bbgjvexeng (it will give you $50 worth of free crypto)
- In the upper menu click on ‘Balances’, find VET, and choose ‘Deposit’
- Now in the upper menu choose ‘Stake & Earn’ and then click ‘Soft staking’
- Scroll down a bit to find VET and activate by clicking on it
- Transfer a minimum of 18,000 VET to this balance
Staking VeChain(VET) from Wallets
Next, a list of three wallets that allow you to stake VeChain without leaving the coins at a third party platform like a centralized cryptocurrency exchange.
Ledger Nano hardware wallet
If you favor being in full control of your own cryptos then the Ledger Nano hardware wallet should be it. Particularly, the Ledger Nano wallet is a USB storage wallet with Bluetooth connectivity available.
Also, this way it’s possible to store your cryptocurrencies offline which is the most secure option. Furthermore, the wallet enables users to perform a wide variety of functions, including sending and receiving bitcoin from blockchains or running third-party apps on the device.
Besides staking from the wallet, users can also purchase new crypto because of Ledger wallet uses a built-in exchange feature. This feature uses a third party(Coinify) so buying comes at a cost: 4.5% credit card fees or 1.7% for bank transfers.
How to start Vechain staking on Ledger Nano
- First, install the firmware of the Ledger Nano device
- Start installing the VechainApp by opening the ‘Manager’ on Ledger
- Connect and unlock the Ledger device
- Find Vechain in the list catalog
- Download and install Vechain App
- Make sure you are fully synced
- Now deposit at least one VET
- Staking will start immediately
|⚠️ Warning: Always make sure to buy your Ledger Nano devices from the official online store. In fact, third-party sellers have been known to tamper with Ledgers.|
Atomic Wallet is a decentralized online cryptocurrency wallet available on desktop and mobile devices that supports more than 500 coins and tokens. The wallet is suited to crypto investors of all experience and provides a simple, safe, and convenient means to store digital assets.
Besides staking from the wallet, users can also purchase new crypto because of Atomic wallet uses a built-in exchange feature. This feature uses a third party(Changelly) so buying comes at a cost: 2% additional fees at a minimum of $10 each.
All in all, Atomic wallet supports staking for 15 different coins and Vechain(VET) is one of this list. The annual ROI for staking VeChain on Atomic is 1.41% which is the highest in the entire market.
How to start staking VeChain(VET) on Atomic Wallet
- Visit Atomic Wallet website, start downloading and install
- Start purchasing VET or deposit VET here
- Click on ‘Staking’, scroll down to find VeChain and click ‘Stake now’
- Transfer a minimum of 10,000 VET here
Another decentralized wallet to hold your cryptocurrency tokens is Trust Wallet. Furthermore, Trust Wallet is available for download on desktop and for mobile devices. Many cryptocurrency users favor this wallet because of it’s ease of use over several blockchains and the number of cryptocurrency tokens it can hold(1K+).
Trust Wallet is a multi-functional wallet and besides storing crypto or staking, it also has a built-in exchange for cryptocurrency purchases. For example, buying Bitcoin can be done instantly(with a credit card) at an additional cost of 5% for the entire transaction.
Staking crypto is also a feature of this multi-functional wallet where Trust Wallet supports 9 different cryptocurrency coins. Staking VeChain can be done here at an annual ROI of 1.1%.
How to start staking VeChain(VET) on Trust Wallet
The process of staking VeChain on Trust wallet is very simple:
- Visit the Trust Wallet website, start downloading and install the app
- Deposit VET or purchase it with the built-in exchange
- Once deposited, staking VTHO will start automatically
This wallet has been there for a while and has a proven track record in being very secure. Therefore, the Exodus Wallet allows you to store your crypto offline(with Trezor) and when needed, connect with their software wallet app.
Another interesting feature of Exodus is the number of cryptocurrencies(130) that can be stored in the app and offline.
Staking is also a feature of this wallet where currently 6 different cryptocurrencies are supported: ALGO, ATOM, ONT/ONG, NEO/GAS, XTZ, and VET/VTHO.
How to start staking VeChain(VET) on Exodus Wallet
The process of staking VeChain on Exodus wallet is very simple:
- Visit the Exodus Wallet website, start downloading and install the app
- Deposit VET or purchase it with the built-in exchange
- Once deposited, staking VTHO will start automatically
Is staking Vechain worth it?
Staking Vechain is currently a very popular method among crypto enthusiasts to generate passive VET income with zero risks. In this guide in which I covered where to stake Vechain in greater detail, I also compared the different platforms in terms of rewards and lock up periods.
Additionally, the idea of staking Vechain(VET) is simple where every single VET token will generate new ones. Moreover, Vechain or the VET token is a rising asset in terms of value where even holding a small amount can make a difference in the long run.
All in all, staking VET is a perfect solution for you to earn additional cryptocurrency while you sleep.
The following articles might also be a good read for you:
- Most Popular places to Buy Vechain Online
- Top 5 Do’s and Dont’s of Cryptocurrency Wallets
- What are the Best Coins to Stake in Cryptocurrency(in 2021)
- Confidential: Best places to keep my Crypto Safe
- What are the Benefits of Binance Trading Platform?
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