earn-vx-coin

Earn VX by Staking, Trading, Market-Making, Listing & Referrals

  • Posted by Soi
  • Last updated: May 13, 2023
  • 3 minute read

5 easy ways to mine VX on ViteX. Earn VX and then earn dividends from your VX.

ViteX Coin, or VX as we’ll call it, allows us to earn daily dividends paid out in BTC, ETH and USDT. In this article we’re going over 5 different ways to earn VX. There’s no complicated server setup or expensive mining computer required.

There was no presale with VX coin, every coin distributed has been mined. There will only ever be 29,328,807.8 VX. It’s mined exclusively by the ViteX community, and used to give rewards for using ViteX.

Distribution

VX coin can be earned from staking, trading, market-making, referrals and by becoming an operator. Distribution is also spread against methods differently, with some methods netting more VX than others. Vite provides an excellent tool for tracking VX distribution and rewards with the VX Dashboard.

The release of VX is allocated daily in the following breakdowns:

Trading, Referring, Listing

50%

Staking

10%

Market-Making

15%

Vite Team

25%

Staking as Mining

Vite requires Quota to operate. By staking Vite, we’re helping ViteX obtain operational Quota. In exchange we’re given VX coin daily.

Go to the Trade tab > Mining > Staking then press the Add button then enter the desired amount to stake.

The minimum amount to stake is 134 Vite, there is no maximum amount. Any Vite that’s staked will be locked for 3 days. After 3 days it can be unlocked, however it’ll take an additional 7 days to be returned to your wallet.

The proportion you earn is based on your amount staked vs the total amount staked on ViteX by everyone else.

Trading & Market Making

Mining Icons

When placing buy and sell orders on ViteX, check for the listed bonuses on trading pairs. Different pairs offer different bonuses, and knowing how to utilize them can help grow your portfolio faster.

These bonuses are also earned in different ways. Market-Making is when an order is sitting in the order book and stays there without being executed. Trading is when your order executes.

On certain pairs, there’s even an additional bonus. Vite/BTC, Vite/ETH, Vite/USDT all provide 5X the normal rewards. When buying Vite, it’s a good choice to buy on the ViteX exchange instead of another exchange as you’ll earn 5X the normal VX rewards.

Market-Making

Pairs that have this icon will provides market-making rewards. To earn VX rewards, a buy or sell limit order must be placed and be within the highlighted buy and sell section. The closer to the best bid/offer, the more rewards are given.

The amount of VX earned depends on three factors: the amount of the order, the amount of time an order is listed, and how close or far the order is from the best bid/offer.

To make your open orders easier to identify, each of your orders will have a small blue icon identifying them.

Market-Making & Trading

Trading Pairs that have this icon will provide both VX coin on execution of trades and market-making. The amount of VX earned on a trade is calculated by your total trading fees, against total trading fees collected in the associate market on any given day.

In order to actually earn VX on trades it’s important to know there is a minimum fee threshold in each market. If an order is too small, it’s likely not going to generate VX rewards. The fee thresholds to earn VX in each market is:

Vite

2

BTC

0.00001

ETH

0.0002

USDT

0.02

Become an Operator

Become an operator by listing tokens and maintaining trading pairs on ViteX. This can be in any of the 4 supported pairs, such as BTC, VITE, ETH and USDT.

Listing a token pair on ViteX costs 10,000 Vite, however it also provides VX at the time of listing. The operator is payed out a VX reward as if they had executed an order large enough to be worth a 1000 Vite fee.

Another way operators earn VX is by the fees they set on their trading pairs. Operators can set varying trading fees on their listings that range from 0% – 0.2%.

Referral as Mining

Referral Rewards

Another great way to earn VX is by referring people. They get a discount on ViteX trading fees, a bonus in rewards, and you earn VX coin when they trade on ViteX. To refer friends, first you need to create an invite code, this costs 100 Vite. Go to ViteX, click on Use Referral Code, then Invite Friends.

The people you refer will enjoy 10% off trading fees, an additional 2.5% trading rewards, and an additional 1.25% marking making rewards paid in VX.

Need an Invite?

Already have a Vite wallet? Just click to auto import, or enter the below code.

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