2nd Post! How I made 1 BTC in 4 mth on ViteX



  • Lily here 🙂

    I’ve been chatting with several community members since my last post and decided to share a bit more on my investment strategy as been requested. Before I get started, I want to mention several things:

    1. I didnt purchase all my VX in one day, I managed to invest in both Vite and VX over a long period of time. You can though, ofc, and its not a bad deal as I see it. The return I calculated in my last post did take into account VX price variations. As of today my returns has further gone up by quite a bit since BTC ETH price went up, which is why I like ViteX, a DEX that gives you dividends. Im literally making money when I sleep, who doesn’t like that?
    2. Purchasing VX directly from the market is definitely the easier way to start earning dividends (which is what I've been doing lately with my daily dividends since im comfortable with the amount of VX I own). If you’re tight in funds or really motivated, however, try mining by yourself since at most times, the cost of mining a VX through trading is lower than purchasing from the market.
    3. Market-making as mining, as they call it, doesn’t cost you anything but requires your attention so your mm orders don’t end up actually being executed.
    4. I would suggest you to have at least several different assets in ViteX for either mining methods, which will make the process more efficient.
    5. Make sure to DYOR and read the basic rules before start mining. They have pairs that may either eligible for trading mining, mm mining or both. You will be able to tell the differences by looking at the mining icon.
    6. There have been questions on referral codes, I’ve covered most about it in my last post. You should try to find answers to questions such as how to make and use a referral code on your own..... But since I’m writing this, might as well share these link with you all:
      Referral code: https://forum.vite.net/topic/3884/how-to-acquire-or-use-a-referral-code
      Mining guide: https://forum.vite.net/topic/3708/beginner-s-guide-to-vitex-mining
      General Info: https://forum.vite.net/category/95/user-guides-tutorials
    7. I’m sharing these because I believe a project is able to live and succeed only when everyone from the community can benefit from it and support it. ViteX has won me, and I hope it can do the same for you all too.

    Going into my strategies, there are two parts to it.

    With trading mining, the key is to compare VX mining cost to its current market price as time getting close to 12pm (when VX are released everyday). On ViteX website, the mining dashboard tells you the real-time expected mining cost . If cost of mining a VX is lower, start trading. This is why its better to hold different assets. If market price is lower, you are probably better off just buying it from the market.
    rsz_screenshot_2020-06-03_at_42018_pm.png

    With market making mining, the key is to place large orders as close as possible to the best sell/buy order in the order book and spread out your orders as much as they are within the mining range. According to official rules, “The VX mining reward for market-making has a linear relationship with the order amount and order duration (i.e. amount of time the pending order stays on the order book). However, the mining reward has an exponential relationship with the order distance (i.e. the deviation from the best bid offer)”.

    rsz_2screenshot_2020-06-03_at_45619_pm.png

    This graph is just a simple demonstration of how I mine through MM. So, if the order book is empty, fill it up; if there is no sell or buy order close to your orders, make one. Ofc in reality I place larger orders and seize more market shares. Bottom line, mark your presence. Make sure you follow closely on changes in the market so your orders don’t get eaten up.

    And a last tip, always check for special mm mining events. ViteX has, from time to time, weekly extra rewards for market making specific trading pairs, usually of newly listed assets.

    That’s about it for now. As always, I’m open to messages and discussions. Chat me up if you got questions or insights to share with me.



  • BTW I didnt expect so many views with my last post, thanks to those who spent the time reading it 🙂



  • @CryptoLily спасибо тебе, мало кто захочет делится своими успехами.



  • @1s1do1
    Like I said, I believe Vite has a valuable system in which everyone can truly benefit from it. Sharing my story would only make us benefit more, if more people discover that ofc 🙂



  • @CryptoLily making money is never easy. mm could be executed anytime,due to the market fluctuations, so trader (mm-er) has to keep a close eyes. But I agree mm is the easiest and cost-0-fee for placing an order. Thanks for sharing your story. do you use other media platforms? don’t let this story stay only in this forum. 🙂



  • @felicity said in 2nd Post! How I made 1 BTC in 4 mth on ViteX:

    @CryptoLily making money is never easy. mm could be executed anytime,due to the market fluctuations, so trader (mm-er) has to keep a close eyes. But I agree mm is the easiest and cost-0-fee for placing an order. Thanks for sharing your story. do you use other media platforms? don’t let this story stay only in this forum. 🙂

    nah, my first two posts ever.



  • @CryptoLily Hi, just want to ask about the part on trading.

    On ViteX website, the mining dashboard tells you the real-time expected mining cost . If cost of mining a VX is lower, start trading. This is why its better to hold different assets. If market price is lower, you are probably better off just buying it from the market.

    I can't fully understand this part, this is the only part that I can't understand.
    1.) What is the mining cost?
    2.) And when you said 'If cost of mining a VX is lower, start trading. This is why its better to hold different assets. If market price is lower, you are probably better off just buying it from the market.' Isn't trading and buying it from the market the same?



  • @Schneider

    one of the VX mining methods is to trade. whenever a trade is executed, there yields a transaction fee (the rate differs by trading pairs). your accumulated trading fees will mine you VX, which means you don't necessarily need to buy VX. transaction mining isn't too new of a concept.



  • @Schneider so trading mining cost is technically the transaction fees you need to pay for trading between yourself



  • @CryptoLily If I generate a referral code will i get the benefits of being an inviter and invitee in on that same account?


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