Velo is a project that deserves review due to the token making it to top gainers chart on coinmarketcap. Nowadays, the cryptocurrency world is being driven by memes, shitcoins and non-functional tokens, created on several different networks and blockchains, which serve no purpose at all other than tricking users into trading those assets to create market fluctuations that are backed by no specific reason at all and are all artificially made. This mess must come to an end, and cryptoandreviews.com is here to do that.
The benefits of Velo are closely linked to the utility of the tokens which will be reviewed on this article.
Cronos, PancakeSwap and The Sandbox all had a quick run up when they were introduced into the market. Many people invested in the initial idea while others didn’t. You know the rest of the story as of today.
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A lot of investors have hurriedly delved into investing on a project they have little knowledge about Due to Fear Of Missing Out. So on this article, we will review Velo token by explaining what the coin is about, tokenomics, roadmap, ICO, staking insights of the project, listing the pros and cons, the supply and how legit/safe the token is for investment.
What is Velo?
Blockchain has been recognized as one of the most revolutionary technologies of this century, a lot of potential has not Velo Labs is building a unique federated credit exchange network. This network is powered by the Velo Protocol, which is a blockchain financial protocol enabling digital credit issuance and borderless asset transfers for businesses using a smart contract system.
The project’s core mission is to enable partners to safely and securely transfer value between each other in a timely and transparent way.
To do this, the Velo Protocol enables its partners to issue digital credits via a smart contract layer, using the Stellar Consensus Protocol to process and settle transactions. Within its ecosystem, the Velo Protocol enables multiple business use cases that are all based on its core function: issuing collateral-backed digital credits, which correspond to any fiat currency that can be used for frictionless value transfer.been conveyed properly about this technology, on that basis they (owners) invite users to explore this technology more deeply with Velo.
Velo staking is a program developed to share revenue with our investors, rewards BUSD with additional returns of APY 80%. It is a decentralized exchange built on Binance Smart Chain, a fast and inexpensive alternative to Pancakeswap.
Velo Wallet is multi-coin wallet app that allows you to Send/Receive/Store/Swap various cryptocurrencies safely. The program provides you with a secure access key that keeps your assets safe against unauthorized access.
There are 1.23B VELO in supply worldwide.
Pros and Cons of Velo
Pros of Velo
- There is a surge in the market price currently
- Project whitepaper available
- There is a community
- Contract on Binance Smart Chain
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
- Good navigational website – Velo
Cons of Velo
- The coin is still under research and development
- Multiple issues with its synchronizations between ledgers
- Not listed on some exchanges
- No Github profile
- They have no reddit account
- No Bitcointalk thread created
- No traceable features on tradingview
Is Velo Legit or Scam?
A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.
According to research and reviews, Velo have developed a problem solver but with a weak back up for the token they produce. Going through their community and roadmap about their project, their visions and aims have so far been achieved.
Is Velo Safe?
Being willing to invest in any token is a question entirely up to you to answer. Velo token has a formidable team and vision to backup their digital assets and project. The project will succeed but depends if the team keeps the vision active and alive.
Make personal research on the coin, visit coin’s official website.
Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about Velo on the comment section below. Don’t forget to rate and leave Velo a review.