VELO
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VELO

Velo
Website https://velo.org/
Browser
OTH RELPs
Github
White Paper
Avg Price
-4.79%
1D

$ 0.018771 USD

$ 0.018771 USD

Market Cap

$ 141.132 million USD

$ 141.132m USD

24h trading volume

$ 23.656 million USD

$ 23.656m USD

7d Vol

$ 210.42 million USD

$ 210.42m USD

Circulating supply

7.3904 billion VELO

Related information

Issue Time

2000-01-01

Platform pertained to

--

Current price

$0.018771USD

Market Cap

$141.132mUSD

Volume of Transaction

24h

$23.656mUSD

Circulating supply

7.3904bVELO

Volume of Transaction

7d

$210.42mUSD

Change

24h

-4.79%

Number of Markets

59

Github Messages

More

Warehouse

Marvin Froeder

Github's IP Address

[Copy]

Codebase Size

169

Last Updated Time

2020-12-03 20:06:15

Language Involved

--

Agreement

--

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Historical Price

Introduction

Markets

3H

-5.16%

1D

-4.79%

1W

-8.18%

1M

-4.19%

1Y

+643.62%

All

-22.04%

Aspect Information
Short Name VELO
Full Name VELO Token
Founded Year 2019
Main Founders Chatchaval Jiaravanon and Tridbodi Arunanondchai
Support Exchanges Binance, KuCoin, OKEx, and Huobi
Storage Wallet Metamask, Trust Wallet, Ledger

Overview of VELO

VELO is a type of cryptocurrency token. Established in 2019 by founders Chatchaval Jiaravanon and Tridbodi Arunanondchai, the VELO token operates within the wider digital asset market. VELO tokens are openly traded on widely used cryptocurrency exchanges like Binance, KuCoin, OKEx, and Huobi. For storage purposes and ensuring the security of these tokens, individuals can utilize various digital wallets, such as Metamask, Trust Wallet, and Ledger.

Overview
Main Founders

Pros and Cons

Pros Cons
Supported by well-known exchanges Price volatility inherent to cryptocurrencies
Accessible storage via popular digital wallets Subject to regulatory changes
Established founders High competition in the cryptocurrency market

Pros:

1. Supported by Well-known Exchanges: VELO is traded on some widely recognized and well-reputed exchanges such as Binance, KuCoin, OKEx, and Huobi. This not only provides credibility to the token but also ensures easy accessibility and liquidity for potential buyers.

2. Accessible Storage via Popular Digital Wallets: Storing VELO tokens is quite straightforward due to its compatibility with popular digital wallets like Metamask, Trust Wallet, and Ledger. These wallets are user-friendly and justly known for their security features, thus making the storage of the VELO tokens secure and straightforward for holders.

3. Established Founders: VELO was established by recognized individuals within the business community, namely Chatchaval Jiaravanon and Tridbodi Arunanondchai. Their track record and credibility can be seen as an advantage for the potential growth and stability of VELO.

Cons:

1. Price Volatility: Like all cryptocurrencies, VELO is subject to the inherent risk of price volatility. The value of the token can change rapidly in a very short time, making it possible for investors to experience significant losses.

2. Regulatory Changes: The regulatory environment for cryptocurrencies is continually evolving around the globe. Changes in regulations can directly impact the value, legality, and feasibility of owning or trading VELO tokens.

3. High Competition: The cryptocurrency market is quite saturated, with many different tokens available for trade. This high level of competition can affect VELO's visibility and demand among potential investors, which could in turn influence its market performance.

What Makes VELO Unique?

VELO's innovation lies in its unique financial protocol designed to facilitate borderless asset transfers and digital credit issuance. Specifically, the VELO Protocol acts as a bridge between digital credits and real-world assets, enabling businesses to issue digital credits that can be securely, affordably, and quickly transferred across borders.

One of the distinguishing features of VELO compared to other cryptocurrencies is its two-token system, which includes VELO tokens and digital credits. VELO tokens are used for staking in the VELO network and serve as a kind of insurance to guarantee the value of the issued digital credits. This is particularly novel as it creates inherent stability within the system.

Moreover, VELO is backed by the Stellar Network, a known blockchain platform for facilitating low-cost, cross-border transactions. This affiliation enhances the speed and reduces the cost of transactions, differentiating VELO from some other cryptocurrencies not linked to such platforms.

However, it should be acknowledged that despite these innovations, VELO still shares common characteristics with other cryptocurrencies, such as volatility in its token value and being subject to the regulatory landscape of cryptocurrencies, which can be unpredictable and differ greatly between jurisdictions.

How Does VELO Work?

VELO operates on a protocol that leverages a two-token system comprising VELO Tokens and Digital Credits. VELO Tokens are the protocol's native digital asset, which Trusted Partners can use for staking on the VELO network. The process of staking involves VELO Tokens being used as collateral to mint Digital Credits.

A unique aspect of VELO's approach is that its Digital Credits are tethered to any real-world asset, such as fiat currencies or commodities. For instance, a Digital Credit could be pegged to the US Dollar or to gold, providing real-world value and stability within the digital ecosystem of VELO.

When a Trusted Partner stakes VELO Tokens, they can issue an equivalent value of Digital Credits, which can be used for frictionless cross-border remittances. The transfer of value using Digital Credits is efficient, secure, and cost-effective, facilitated by the underlying blockchain technology.

Further, the operation of VELO also depends on the Stellar Network. Known for its scalability, speed, and low transaction costs, the Stellar Network enhances the efficiency of VELO's operation.

However, it's important to understand that the effectiveness of this working model can still be influenced by factors like market conditions, regulatory changes, and technological advancements in blockchain.

Circulation of VELO

As of 2023, the circulating supply of Velo is 74 billion tokens. The total supply is capped at 240 billion tokens.Velo was issued through a fair launch in August 2021. It is distributed to users of the Velo Protocol for providing liquidity and participating in governance.

The price of Velo has fluctuated significantly since its launch. The high price of $0.12 USD was reached in November 2021. The low price of $0.007 USD was reached in July 2023. The price of Velo is currently $0.0026USD.

Circulation

Exchanges to Buy VELO

Although the list of exchanges supporting VELO tokens may change over time, at current, some popular cryptocurrency exchanges support trading of VELO tokens. Here are 10 of those along with some possible currency and token pairs that they might support:

1. Binance: A popular global cryptocurrency exchange known for its large variety of supported coins. Binance may offer VELO in pairs such as VELO/USDT, VELO/BTC and others based on market conditions.

2. KuCoin: A known international cryptocurrency exchange. KuCoin might offer VELO in pairings with USDT, BTC, and possibly ETH.

3. Huobi: A Singapore-based global cryptocurrency exchange, which supports multiple cryptocurrencies. Huobi might list VELO with pairs like VELO/USDT or VELO/BTC.

4. OKEx: An established Malta-based cryptocurrency exchange. OKEx may offer trading pairs like VELO/USDT and VELO/BTC.

5. MXC: Known for its user-friendly interface, MXC could support VELO trading pairs such as VELO/USDT.

6. Gate.io: It provides an intuitive platform for trading and may list VELO against USDT.

7. CoinTiger: As a relatively newer platform, CoinTiger could offer VELO token pairs such as VELO/USDT.

8. Bilaxy: It is known for hosting a multitude of lesser-known currencies and may offer pairs such as VELO/USDT.

9. Digifinex: This Singapore-based exchange has a sizable offering of cryptocurrencies and might support VELO with multiple pairs including VELO/USDT.

10. Hotbit: As a leading crypto exchange, Hotbit may offer multiple trading pairs for VELO such as VELO/USDT, VELO/BTC, and perhaps others.

Please note that the above information can change at any time due to market conditions, and the specific VELO token pairs offered by each of the aforementioned exchanges may vary. Always verify on the exchange's official website or contact their customer support for the most accurate and current information.

Exchanges

How to Store VELO?

VELO tokens can be stored in various types of digital wallets that support cryptocurrencies, particularly those that support the Stellar blockchain, given VELO's affiliation with the Stellar Network. Below are the different types of wallets that can be used to store VELO tokens:

1. Software Wallets: These wallets can be installed on a computer or smartphone. They are beneficial in that they give users full control over their private keys and thus their cryptocurrency assets. Examples of software wallets compatible with VELO might include StellarTerm and Interstellar.

2. Web Wallets: These are accessible through a web browser and provide convenience and user-friendly interfaces. However, they commonly hold custody of users' private keys, which could be a security concern for some. Metamask and MyEtherWallet are examples of this kind of wallet but it's prudent to verify their compatibility with VELO.

3. Hardware Wallets: These are physical devices that securely store the user's private keys offline, providing a high level of protection from online threats. Ledger Nano S, Ledger Nano X, or Trezor might be used to store VELO tokens, although it's always best to confirm compatibility.

4. Mobile Wallets: These are apps installed on a smartphone, which offer the convenience of accessing cryptocurrency assets anywhere. Trust Wallet, for example, is a mobile wallet which should support VELO tokens.

5. Paper Wallets: These involve printing your private and public keys on a piece of paper. Being offline, they're safe from online threats, though they can be easy to lose or damage. It's necessary to check if generating a paper wallet for VELO is possible and recommended.

Remember, ensuring the safety of your private keys is vital when using any digital wallet. Any loss or theft could lead to a complete loss of the cryptocurrencies stored. Always use official and reputed wallets, keep your software up to date, and be mindful of phishing attempts.

Should You Buy VELO?

The decision to buy VELO token, or any cryptocurrency, should always be based on personal due diligence and in line with individual financial goals. Here's a general analysis of who might consider buying VELO:

1. Experienced Crypto Traders/Investors: People who are already familiar with cryptocurrency trading and investing may consider including VELO in their portfolios. They generally understand the volatility, risks, and potential rewards associated with cryptocurrencies.

2. Risk-Tolerant Investors: As with all cryptocurrencies, investing in VELO carries significant risk, including the potential loss of the entire investment. Therefore, VELO might suit investors who are willing to undertake such risks for the potential of higher returns.

3. Blockchain Technology Enthusiasts: Those with an interest in the blockchain technology and its applications might find VELO intriguing due to its unique protocol features for borderless asset transfers and digital credit issuance.

4. Diversifying Investors: Investors looking to diversify their portfolios with varied asset classes may consider cryptocurrencies like VELO.

Professional advice for those considering buying VELO:

1. Do Your Research: Understand VELO's underlying technology, use case, market potential, and the team behind it. Research the project's white paper and stay up-to-date with their regular developments and updates.

2. Understand the Market: Cryptocurrency markets are highly volatile. Understand market trends, and consider seeking advice from financial advisors familiar with the crypto space.

3. Invest only What You Can Afford to Lose: Due to their volatility, only invest funds that you can afford to lose in cryptocurrencies.

4. Secure Storage: If you decide to acquire VELO, ensure you have a secure digital wallet to store your tokens.

5. Regulatory Considerations: Before investing, understand the regulatory framework of cryptocurrencies in your region. Some countries have strict rules or even prohibitions relating to the use and trade of cryptocurrencies.

This advice is general in nature, and specific personal circumstances should be considered. Professional advice should be sought where necessary. Investing in cryptocurrencies like VELO should be approached thoughtfully and responsibly.

Conclusion

VELO is a unique cryptocurrency built on a protocol designed to facilitate digital credit issuance and borderless transactions. Its innovative two-token system, backed by the Stellar Network, establishes a bridge between digital assets and real-world commodities or fiat currencies, thereby creating an environment of built-in stability. The VELO token was launched in 2019 by recognized industry professionals and is traded on major exchanges worldwide.

As for the development prospects, the VELO project's focus on creating seamless cross-border transactions has considerable potential due to the increasing globalization and digitalization of financial markets. The digital credit issuance feature offers an innovative use case within the vast digital asset space. However, as the cryptocurrency market is highly dynamic and competitive, the success of VELO can be influenced by various factors including technological innovations, adoption rates, competition, regulatory changes, and overall market conditions.

Regarding the potential for profit or appreciation, it's vital to note that cryptocurrency investments, including VELO, carry substantial risk due to their inherent price volatility. While there may be potential for financial gain if the value of the token increases over time, it is equally possible to experience significant losses if the price drops. Therefore, potential investors are advised to conduct thorough research, seek professional advice and only invest what they can afford to lose.

FAQs

Q: What potential risks should be considered when investing in VELO?

A: Potential investors should bear in mind the risks of price volatility, regulatory changes, and high competition within the cryptocurrency market.

Q: How are VELO tokens stored, and which wallets are compatible?

A: VELO tokens can be stored in various digital wallets, such as Metamask, Trust Wallet, and Ledger that support the Stellar blockchain.

Q: What is the unique financial protocol of VELO tokens, and how does it work?

A: The VELO Protocol is designed to enable the issuance of digital credits, securely and efficiently transferable across borders, via a two-token system comprising VELO Tokens and Digital Credits.

Q: Who are the founders of VELO?

A: VELO was founded by Chatchaval Jiaravanon and Tridbodi Arunanondchai in 2019.

Q: What is the real-time circulating supply of VELO tokens?

A: Real-time data on the circulating supply of VELO tokens can be obtained from reliable financial or cryptocurrency exchange websites.

Q: What is the potential for profit or financial gain from investing in VELO tokens?

A: While there is potential for financial gain if the value of VELO tokens increases over time, it is also possible to experience significant losses due to price volatility and market risks inherent in all cryptocurrency investments.

Q: What are the operational principles of VELO?

A: VELO operates on a unique protocol that utilizes a two-token system with VELO Tokens used for staking to mint Digital Credits, which can then be tied to any real-world assets for transferring value efficiently and securely.

Q: What professional advice would be useful for potential VELO token buyers?

A: It is advised to carry out due diligence, understand the volatility of cryptocurrency markets, meet the preparedness to experience potential losses, ensure secure storage for tokens, and become acquainted with the regulatory framework pertaining to cryptocurrencies in your region, before investing in VELO tokens.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

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