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Sunday, September 25, 2022

How to Stake VeChain

Earning a passive income with VeChain couldn’t be easier. Were going to show you how to stake VeChain so you can easily earn free crypto on your mobile phone, laptop, and desktop computer.

No special set up or sign up is required to start walking on a path toward a passive crypto income So how does VeChain staking work? VeChain uses a two token model. The VeChain VET token is used as a method of payment in the VeChain ecosystem. VET coin allows stakeholders to earn VeThor tokens. In other words, if you hold VeChain, you’re considered a stakeholder and eligible.

There are two primary ways to earn VeThor tokens. One is to set up your own VeChain node. This requires some technical knowledge. You’ll also need to start off with anywhere from 1 million – 25 million VET. This might be a lot for some people and not the most accessible option.

The easiest and quickest way to stake VeChain is with Exodus. You simply download Exodus on your mobile device or computer, deposit VeChain, and that’s it! When you hold VeChain VET tokens, VeThor tokens are created and automatically deposited into your Exodus VeThor wallet even when the app is closed.

This is the power of blockchain. That means once you deposit VET, you can carry on with your life. Next time you open the Exodus app, your VeChain and newly created VeThor tokens will be there. This comes at no cost to you. Exodus is free to use and your funds are always under your control.

Let’s see the action in the Exodus mobile app, followed by the desktop wallet. You can download an Exodus Vechain wallet by visiting Exodus.io or by typing Exodus wallet in the app store.

There’s also a link in the description. Once you’re in the wallet, tap the profile icon. Scroll down a bit and you’ll quickly notice Exodus supports a lot of assets. In the search field, you can type the name of whichever asset you want to enable.

I’m just typing V E so I can enable the VeChain and VeThor wallet in one go. Now both wallets are enabled. Tap the wallet icon, pop into the VeChain wallet, and tap the receive icon to view your address.

Tapping the address automatically copies it so you can paste it wherever you’ll be sending VeChain from. Deposit VeChain and you’re doing. You should see your first VeThor deposit in around 10 seconds. Let’s move over to the desktop app.

Download an Exodus wallet at Exodus.io if you don’t already have one. Click the wallet icon at the top to get into the wallet section, type Vechain in the search field and click it to enable the wallet. Click receive to find your address, deposit VeChain and you’re set.

You can close the app if you’d like. Exodus will take care of everything else. There’s an asset menu in the top right-hand corner where you can view the VeThor you’ve earned over time. Or you can pop open your VeThor wallet to see all transaction details.

Now, if you don’t already have VeChain, you can deposit another cryptocurrency such Bitcoin or Ethereum into Exodus and exchange it for VeChain directly in both the mobile and desktop app. In most cases, your requested asset will arrive after a few minutes.

Read More: VeChains Tech Deep Dive Series

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