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Vitae is a PivX fork that uses blockchain technology. It was launched in 2018 by a Swiss-based team alongside a social media platform that seeks to reward its users for time spent posting on the platform. This token uses a network of master nodes, super nodes and proof of stake to ensure a decentralized system of secure transactions.
The Vitae Utility token is supported by Vitae AG which does not sell nor buy tokens. These tokens are left in the hands of independent and changes.
This token uses blockchain, meaning that all transactions are decentralized and that no bank or government entity is involved. This ensures that no one entity can control the network or alter the data o a block. Since blockchain is open source, this allows community development and ensures that the code is available to the public. This allows for transparency and the element of trust to prevail. This cryptocurrency can be explicitly exchanged for goods and services that its parent company (Vitae AG) provides.
The network uses a peer-to-peer (P2P) network which means the more significant the network, the stronger it becomes. These peers are computers in a network which are also referred to as nodes. This network ensures immunity against failure and that no one single person can change the blockchain since each bock is cryptographically sealed with a public and a private key.
At the moment of writing the token has a market capitalization of $153,441,032 and a 24hr volume of $1,653,169. The current market value of one token is $7.88, and the company has 19 million tokens in supply. On the official website, Vitae AG claims that the maximum available supply is 100 million tokens.
Vitae AG emphasizes on a self-regulated community where only the best content gains attention where the used currency is Vitae tokens.
The community encourages the spirit of sharing, networking and entrepreneurship. They strive to promote the most welcoming social network on the internet. They stress on five main reasons for building a strong community which are:
Vitae has most if not all the characteristics of a Bitcoin and Monero. The only difference comes in where vitae is used to pay for services offered in the Vitae AG community. This token has not been incorporated into commercial payment systems. So you wouldn't walk into a store and expect that the cashier will receive Vitae tokens as a payment.
Vitae is not very popular and has yet to receive public scrutiny because it is relatively new to the market. Unlike Bitcoin, which costs around $19,000, Vitae tokens are relatively cheaper since they cost around $7. This means that this token offers a minimal barrier to investors.
Some of Vitae token features that make it stand out from the rest to include the following;
Firstly, one is supposed to register with maximum adherence to the KYC process. After this, there will be a prompt for payment to be done. Here, one will have the freedom to select between using a debit or credit card. Other options include; bank transfer. However, charges are a bit higher when cards are utilized but the transactions get instantaneously processed.
On the other hand, this is not the end of the process. It is important to note that the Vitae token is an altcoin. Therefore, we need to transfer the coins to an exchange platform that is Vitae supportive. This coin can be traded in exchange for Bitcoin, Ethereum, or USDT. Here, one makes a deposit then exchanges these cryptocurrencies for Vitae token. In other words, the Vitae blockchain is secondary.
Moreover, the above come in handy as they boast of multiple crypto exchange platforms that have reasonable trading volumes and very broad user base networks. Consequently, one can put up the coins for sale whereas only having to incur relatively lower costs. Some of these exchanges include; Binance Coin, Falcon Beta, Bittrex, and Poloniex.
After Mining or buying these, one is prompted to store them in a secure location. Consequently, there was the introduction of wallets that are carefully designed for this.
The first set includes a hardware wallet. An example of this included the Ledger Nano S, Trezor One, and many more. The above come in handy because they are easily installed most importantly, support several cryptocurrencies. Also, they come at affordable prices and are multilingual enabled.
However, the best way to store these coins away from malicious attempts is by the use of cold wallets. Cold wallets come in handy as they only gain access to the blockchain only when the user sends out transactions.
In terms of the pricing cost, a Ledger or Trezor wallet goes for about $50 to $100. The price heavily relies on their features on the wallet. If the wallet has more advanced features, the user is bound to pay more.
Operating on a decentralized system, this coin proves to be fully featured with essential features. The token appears to be an awesome long term form of investment with predictions getting updates every 3 minutes. This is attained via the utilization of smart technical mechanisms of analysis.
Also being a secondary coin, one may use Vitae tokens as a backup on major cryptocurrencies such as Bitcoin. Experts advise for drastic purchase of altcoins in case of unexpected bullish or bearish trends, to help curb huge losses.
Every coin possesses two sides, the head, and tail. For us, we will take a look at some of the effects of investing in this altcoin. From the in-depth analysis of this cryptocurrency we can infer that the following advantages are true;
On the other hand, the disadvantages include;
From the look of things, we can certify that the Vitae token is among the reliable cryptocurrencies in the market. It has showcased some of the prerequisites principle standards and rankings, overall.
Therefore, it is an endeavor in the crypto investment you just opt to back up your major Bitcoin and Ethereum investments. This token may help to serve as a form of immunity in times of market volatility. However, as this pursuit of cryptocurrency gains momentum, investors ought to be on the look for Ponzi Schemes.
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