Earn Daily BTC, ETH & USDT on ViteX by Staking VX Tokens

  • Posted by Soi
  • 2 minute read

VX tokens are an important component of ViteX. Here we explain how to use VX tokens as means of earning daily dividends.

In a previous article we learnt of 5 different ways to earn VX on ViteX. These ranged from staking Vite, trading and market-making on ViteX, from referrals and even from listing trading pairs.

VX tokens play a big role on ViteX, and one of the benefits of owning VX is earning daily dividends paid out in BTC, ETH and USDT.

In this article, we’re going to show you how to use those VX tokens, and even go where the dividends comes from.

How VX Dividends are Generated

Let’s start from the top, where do VX dividends comes from? ViteX charges fees when trades are completed on the exchange. Almost all exchanges charge fees. For instance, my local exchange charges a 1.5% spread on all trades. They keep this money for themselves. ViteX does it a little bit differently.

When fees are collected on ViteX, they are collected into a shared dividend pool that we all get to earn from. For example, when a trade is done in the BTC market, a fee is collected in BTC-000. And when a trade is completed in the ETH and USDT market, those fees are collected in their subsequent token. These BTC, ETH, USDT fees go into the shared dividend pool and then get paid out at a rate of 1% over 100 days, this continues daily ensuring a constant stream of dividends for everyone who stakes their VX.

Earning Dividends

That sounds great, right? So how to we participate in these earnings? First off, you need some VX, they can either be purchased on ViteX, or earned.

It’s important to know that just holding VX in a wallet won’t earn dividends. They need to be staked in your exchange wallet.

Also, in order to stake, a minimum of 10 VX must be staked at a time. This means even if you already have 1000 VX staked, if you’d like to stake more, the minimum that can be staked at a time is still 10 VX.

Earning dividends on ViteX is really simple and once setup can earn daily without needing any attention.

  1. Open Vite Wallet
  2. If needed, move the VX from your Main wallet to the Exchange wallet.
  3. Select the Trade tab
  4. Select Reward tab
  5. Tap on Stake

Pro Tip: Enable automatic staking. This allows VX to automatically be staked when earned, and it bypasses the 10 VX minimum deposit amount. This way when you earn VX, they start earning dividends sooner.

Just note however, automatic staking only works for VX earned, not VX that’s bought.

Unstaking

When VX is unstaked, it becomes locked for 7 days as it goes though the unstacking process. During this time the tokens are unusable.

If choosing to unstake, you can view when the tokens will become available by selecting “Unstaking Status” right above the Unstake button.

  1. Open Vite Wallet
  2. Select the Trade tab
  3. Select Reward tab
  4. Tap on Unstake

During the 7 days that the VX tokens are going through the unstaking process, they won’t earn any dividends.

Once the unstaking process has started it can’t be cancelled.