Explore the Wallet and ViteX Exchange. Built together into one app

Part 2 of this guide gives a brief overview of the Vite app, Quota and the ViteX exchange.

At first look of the Vite app, it may seem more complex than a standard crypto wallet. Without going through everything in this article, we’re going to touch on the most important aspects to get you up and running as fast as possible.

Let’s start with an important distinction. The Vite app is a non-custodial wallet and exchange built into one app. Placing orders and VX staking are handled on the exchange section. Sending to friends, staking pools, even minting NFTs originate from the non-custodial wallet. This means that moving coins between the main wallet and exchange is required depending on what you’re doing.

Wallet Tab

This is the non-custodial wallet, where coins and balances are shown. Additional coins/tokens can be added to this list by tapping on the blue + button. Tapping on the Vite coin allows for staking Vite for Quota, and voting for SBPs to earn daily income. Tapping on coins that have their own blockchain like Bitcoin, give options to cross-chain deposit and withdraw.

Additionally at the top right, there is a button to scan QR codes with the camera. This allows for logging into applications like Viva.

Get Quota

Quota is a critical component of how Vite achieves being fee-less and fights spam attacks. Instead of transaction fees or gas, Quota is consumed.

Q. Are transactions still fee-less if I don’t have Quota?
A. Yes, however PoW will be used instead of Quota (also fee-less).

Q. What happens if I use all my Quota?
A. Quota regenerates, it’s not permanently lost.

Q. What if I want to unlock my Vite?
A. Withdraw anytime after 3 days. Quota doesn’t consume Vite, so 100% goes back into your wallet.

SBP Voting

Voting for a SBP earns passive income. The amount of income earned depends on the amount of Vite in the Wallet and SBP selection.

Q. Can I still use my Vite if voting for SBP?
A. Yes, voting for a SBP doesn’t restrict Vite usage.

Q. When are SBP rewards deposited?
A. Daily, into your wallet.

Q. Does Vite locked for Quota earn SBP rewards?
A. No, only unlocked Vite held in a wallet earns SBP rewards.

Pro Tip: By default, your password must be entered in each time a transaction is made. Make things faster and easier by enabling biometrics authentication to use Face ID or Fingerprint instead. Go to Settings -> Security

Markets Tab

The markets tab shows all the trading pairs supported on the ViteX market. Coins can be traded against BTC, ETH, VITE and USDT.

Some trading pairs have rewards paid out in VX coin for simply completing a trade or for being a market maker. VX is the native token of ViteX and has a lot of functionality within the platform.

These VX coins can in turn be sold or staked for dividends that get paid out daily as BTC, ETH and USDT. The more VX coin staked, the higher percentage of dividends earned.

Earn VX

Trade Tab

Spot Trading

Under the Spot section, buy and sell orders can be placed. Select a trading pair, enter a desired price and quantity, then place your order. It’s as simple as that.

In the Spot section, tap on Open Orders to view all of your orders that are still live in the Order Book. A complete history of fulfilled orders is also viewable here.

Mining

There are a few different ways to earn through mining. VX coin can be earned when an eligible trade completes, by staking Vite for VX, from referrals, listing a new trading pair, and by being a market maker on eligible trading pairs.

Staking Vite for VX is available from the Staking tab in this section. VX earned from Staking is paid out daily.

Dividend

Dividends are earned by staking VX coin, and paid out daily in BTC, ETH and USDT.

At the top of this section, the total shared Dividend Pool is shown. This is paid out at a rate of 1% over 100 days to all VX holders.

In the My Dividend section a running balance of the total Dividends you have earned is shown.

Pro Tip: Under the Dividend section, enable Automatic Staking. This allows for earned VX coins to automatically stake and earn dividends even faster.

Asset Tab

The Asset tab allows for moving funds back and forth from the wallet and exchange. It also shows the total combined value between wallet and exchange.

In the Main tab, this shows are all the coins/tokens listed in your non-custodial wallet. These can be sorted by price or alphabetically.

In the trading tab, tapping on one of the coins shows how much is available, or if it’s currently in a buy or sell order.

If tapping on Vite or VX from this tab, it also shows how much is currently Staked and if applicable, how much is currently in an unlocking state.

Remember that in order to use coins on ViteX, funds first need to be transferred to the Exchange from the Wallet.

Vite doesn’t have transaction or gas fees, instead Quota is consumed. Lock Vite in increments of 134 to earn Quota, and unlock Vite to get back 100% of what was locked.

Quota is not permanently lost when used, it regenerates quite fast. If you run out of Quota, Vite is still fee-less but you need to run PoW.

There is a lot going on in the Vite app and ViteX exchange, and we’ve barely scratched the surface of all the features offered. That may seem overwhelming, but don’t worry, one of the purposes of Vite Spot is to explain these features in simple and easy to understand terms.

Next Part

Well done on getting this far into the 3 part guide, you should now have a wallet, some tokens, and have a basic understanding of Vite and ViteX.

Now it gets really exciting. In Part 3 we start exploring the community projects. There is so much happening here, and it’s just getting started. New wallets, fun communities, different Vite exchanges, talented developers, more ways to earn, Vite bots for your social accounts, and so much more!