Posts

This is why you should be Staking VX on Vite blockchain

avatar of @belemo
25
Belemo
@belemo
·
·
0 views
·
2 min read

I first got wind of Vite blockchain from my friend @samirich, who shilled it hard on his Whatsapp status. He said it was the next big thing since the sliced bread, and I believed him. I did some digging and found out it actually earns takes a pretty good return.

About Vite

[source](https://vitex.net/) ; - On-chain order matching and asset management. Smart contract-driven dividend distribution. Locally private key storage. - High transaction throughput with <1 second confirmation time. Zero gas fees - Mine VX by trading, staking, market-making and referring. Hold VX to receive daily dividends. - Token forging, gateway creation, coin listings, and order book information are completely transparent and open to the public.

How staking works

[source](https://forum.vite.net/topic/3087/ann-vx-staking-and-updated-staking-as-mining-rules)

• A minimum of 10 VX must be staked to receive dividends; • Participant is entitled to receive dividends starting with the next distribution, after submission of staking request; • If a user revokes the staked VX, those staked amount will be released after a 7-day waiting period. No dividend will be received during this waiting period.

Users can enable automatic staking. Mined VX will be automatically staked once enabled, purchased VX is not subject to this function.

Staking Guide:

My VX Staking Dividend

I've been staking since the 2nd of April, so it is roughly 30 days and in that space of time I've earned slightly over $63 total. The dividend is paid in USDT, ETH and BTC. I need to add that I haven't been consistent with my VX staked, plus the value of my wallet varies with the market value of Bitcoin and Ethereum, but considering the total VX I have staked is around $300, I think that's not so bad.

The Vite wallet also has a DEX where you buy and sell Vite against a bunch of crypto, including Bitcoin and Eth pegs.

You can withdraw these pegs to external wallets, but I doubt anybody ever does that because of the fee. Whenever I feel the need to sell some of my divided I;

  • I sell the dividend for Vite within the Dex
  • Withdraw Vite and send to Binance or Bittrex wallet
  • Sell Vite for USDT or BTC.

I've been around the area for some time now, and I think this is one of the most lucrative staking options out there. I'm always looking out for more opportunities to earn and I think this is a really sweet one where dividend could earn your initial capital in like 5-6months. If you'd like more info, check out their pages;

This is not financial advice, always remember to do your own research.

Posted Using LeoFinance