Maximizing Your Rewards on Binance
Are you a VET holder on Binance and curious about earning VeThor (VTHO) rewards? Here’s a clear guide on Binance’s options, the best wallets for generating VTHO, and how to calculate your potential rewards. 🚀
🌐 VeChainThor: The Enterprise-Grade Blockchain
VeChainThor is a Layer 1 blockchain designed to support enterprise applications, offering fast transactions, low energy consumption, and high reliability. Since its launch in June 2018, VeChainThor has operated with 100% uptime and produces blocks every 10 seconds, making it both fast and reliable for business applications.
🔹 The VET and VTHO Dual-Token System
VeChain’s dual-token model includes:
VET: The primary token, used as a store of value and to generate VTHO.
VTHO: A secondary token that serves as "gas" to power transactions on VeChainThor.
VTHO Generation Rate: For every 1 VET held, you earn 0.000432 VTHO per day. This structure enables stable transaction fees, making VeChain attractive for enterprises while providing rewards for VET holders. If you’d like to explore how much VTHO you can earn, use the VTHO Generation Calculator provided by VeChain. Check it out here.
📱 Binance Wallet Options: Exchange vs. Web3 Wallet
1. Binance Exchange Wallet
Automatic VTHO Distribution: If you hold VET in your Binance exchange wallet, Binance will automatically calculate and distribute VTHO based on daily snapshots of your VET balance. There’s no need to lock your VET—simply holding it in your spot wallet qualifies you to receive VTHO.
Monthly Payout: VTHO rewards are distributed monthly, typically by the 5th of each month. Ensure the "Hide Small Assets" option is off in your wallet to view smaller VTHO balances.
No Lock-Up Required: Unlike some staking programs, VET on Binance does not require locking. This flexibility allows you to trade or move VET as needed while still earning VTHOBinanceBinance.US.
2. Binance Web3 Wallet
Self-Custodial Control: Binance’s Web3 Wallet allows you to connect to decentralized applications and manage VET and VTHO in a self-custodial manner. This is a separate feature from the exchange, giving you full control over your private keys.
VTHO Generation: Holding VET in the Binance Web3 Wallet also generates VTHO. However, as it is a self-custodial wallet, rewards and transactions might display differently than in the exchange wallet.
Ideal for Decentralized Finance (DeFi): If you’re interested in DeFi activities or want more control over your crypto assets, the Binance Web3 Wallet is a good option for holding and generating VTHO.
🔐 Additional Compatible Wallets for Earning VTHO
In addition to Binance options, here are some other wallets where you can hold VET to automatically earn VTHO:
VeWorld Wallet: The official VeChain wallet for web, iOS, and Android. By holding VET here, VTHO is generated automatically in a self-custodial environment where you control your private keys.
Trust Wallet: Linked to Binance, Trust Wallet supports VET and generates VTHO without needing extra actions. It’s ideal if you want a flexible, self-custodial wallet within the Binance ecosystem.
Exodus Wallet: A popular multi-asset wallet, Exodus generates VTHO automatically when you hold VET.
Atomic Wallet: Another multi-asset wallet that supports VET and automatically distributes VTHO, suitable for users managing multiple cryptocurrencies.
🔄 Converting VTHO to VET on Binance
Currently, VTHO cannot be directly converted to VET within the VeChain blockchain. However, Binance offers trading pairs for VTHO, allowing you to convert VTHO into VET or other assets if desired. Simply head to Binance’s trading section to access VTHO trading pairs.
Key Takeaways:
Holding VET Generates VTHO Automatically: Binance and compatible wallets make it easy to passively earn VTHO.
Binance Exchange Wallet: No lock-up is needed; VTHO is distributed monthly based on daily snapshots.
Binance Web3 Wallet: Provides self-custodial control with VTHO generation, suitable for DeFi users.
Trade VTHO on Binance: Use Binance’s exchange to convert VTHO into other assets as needed.
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