![]() These are received in a number of ways, including simply holding VET tokens and owning an X node. VTHO rewards: The Thor wallet can be used to claim VTHO rewards.This process allows X Node owners to earn VTHO by staking VET tokens. X Node Binding Service: X Node participants are able to transfer their X Node status from the Ethereum wallet (e.g., MEW) to the VeChainThor wallet by using the X Node Binding Service.With the function of observing wallet, users can effectively perform VET token swap, X Node binding, and observe the balance of their crypto assets in their VeChainThor hardware /desktop wallets (hardware VeChain wallet is expected to be released soon, it will be cold storage wallet, not the hot wallet). Cross-platform Crypto Asset Management: VeChainThor wallet provides a secure and effective environment for cryptocurrency transactions.Other safety features include POST data encryption, access control, jailbreak / Root check, HSTS certificate check, repeat prevention, local data encryption, packing protection, reverse protection, and more. It also offers 2FA protection and fingerprint protection to the wallet’s owner. Robust Security Protection: VeChainThor Wallet has undergone a series of security testing by trusted third-party security firms, including functional tests, source code reviews, smart contract audits, session management audits, input security audits, etc.VeChainThor mobile wallet has been lauded by the community as a streamlined and reliable way of storing one VET/VTHO token. The wallet can be downloaded in both iOS and Android versions. The initial release of the VeChainThor wallet came in the form of a light mobile wallet app, which aimed to provide a “powerful, secure, simple and fully functional portal to the VeChainThor blockchain”. VeChain Thormainnet was released this summer and was immediately followed up with a native wallet application. We generally advise anyone who has a worthwhile amount of crypto to store it on one of the hardware wallets (here is a table of the best ones): Best Vechain wallet – where to store Vechain And now to the actual VeChain wallets that you can use to store your VET tokens. Making sure that the wallet is supported by the VeChain project and is being continually developed is the final thing you should pay attention to. Desirable features of one average wallet include increased safety measures like password encryption, 2FA, and PIN codes that lock access to the wallet. Desktop wallets, mobile wallets, paper wallets, and hardware wallets are touted as the safest options out there. The wallet you want to use is typically one which lets you retain control over your private keys. If someone hacks, say, an employee of an exchange, that someone can then potentially gain access to the exchange’s private key database once in there, it won’t be that hard to steal crypto from a lot of people, including you. Storing your crypto on the exchange means that you leave your wallet’s private keys in the hands of said exchange.Įxchanges are centralized entities (something that should be replaced with the birth of DEX’s), and centralized entities are vulnerable to outside attacks. You can choose to store your VET (native token) on the wallet of the exchange you bought the token, however, this can be risky. Storing your VeChain will require you to get a cryptocurrency wallet. Naturally, to buy/own a cryptocurrency, you need a wallet that can store it further down, we’ve compiled a list of the best wallets on the market for storing VeChain. This piece will assume that you’ve done your due diligence, gathered enough information about the project, and decided you want to buy your VeChain tokens. Their X-Nodes program saw a fair share of criticism as well.īut we won’t be delving deeper into any of said positives/negatives about VeChain in this article. VeChain is often criticized for being a rip-off of Ethereum some also point out that their “partnerships” with BMW, Oxford, and other major companies and government entities weren’t exactly real. Others aren’t so supportive of the project and its cryptocurrency, calling it a straight-up scam. The technology of VeChain tracks items through their production/shipping cycle, ensuring that the final customer receives an authentic, full-quality product. Some call this project the one Blockchain-as-a-Service company to revolutionize modern supply chain management.įocusing on industries like luxury goods, agriculture, medicine production, clothes, food, etc., VeChain promises to deliver a “trust-free and distributed business ecosystem to enable transparent information flow, efficient collaboration, and high-speed value transferring.” VeChain has seen a fair share of praise and controversy over time.
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