As you all know, ViteX is a decentralized exchange created by Vite Labs on its Vite-chain. You can view ViteX info on either CMC and CoinGecko. There are a series of products developed by the team and various ways to make profits, but this article will focus on the DEX ViteX and its mining functions, that’s how I made money!
I started using ViteX since October of 2019. It is a young exchange that’s launched less than a year ago. Now I have over 38,000 VX (still growing) and received 1.09 BTC in dividends so far, that’s about 70% return on investment in less than 5 months and my annualized return is expected to be over 130%. It used to have only 18 BTC in its dividend pool, now this number has grown to 36 BTC.
I won’t say my exact investment but it’s probably lower than you think. To get to where I am today, I took several steps:
#1. Got a referral code (costed 1K VITE) and invited 7 address (mostly mine). Both the main account and the invited accounts will be rewarded with extra VX when the associated accounts trade or market-make. Good to have friends right?
#2 Trade mining eligible pairs.
It’s as simple. Make sure you use a referral code since besides rewarding extra VX it also lowers your trading fee. In addition to my mining proceeds, I also bought VX at times. But I stopped adding direct investment when I had about 20,000 VX and only continues to buy VX with my dividends. There will be surprises for you if you look up current VX price.
I have been playing around this function for some time now, but arrived at a better understanding only recently. I can mine about 2,000 VX each day if I really put in my time and effort, but I’m happy with my proceeds even with less attention.
ViteX has both a web-end exchange (x.vite.net) and a wallet + exchange 2-in-1 APP (app.vite.net). The APP is a little more complicated to use than the web exchange as it has also a wallet function, but I found both helpful and smooth to operate and they make a good complement for each other.
When you login to the exchange, you will see a notice saying that it doesn’t serve users in many countries. But ViteX requires no KYC so no personal information will be exposed, don’t get scared off by the regional notice. Do know that you will start receiving dividends only when you stake more than 10 VX though.
I can share more on my mining techniques later if you guys are interested. Message me too if you have other ideas you wish to discuss with me!