VeChain Price Prediction. Is Monero Worth Mining?
Last Updated on April 5, 2022 by Andrew
Have you ever considered making money with cryptocurrencies? Many people worldwide generate extra income with these digital assets. We are not talking about becoming a millionaire or so. The fantastic success stories of early Bitcoin investors make many people imagine that cryptocurrencies generate fortunes out of nothing. But that’s not the case here.
However, cryptocurrencies can yield money that can effectively complement your steady income. What’s more, you do not need a huge initial investment to ripe profits in a relatively short time. One of the easiest ways to make money with digital coins is by buying at a low price and selling at a profit later. Another way is through mining, which we will explain later in this article.
For the first approach, all you need is to find a cryptocurrency that will likely increase its value in the future. But how can you find such cryptocurrencies? You can do it by reading reliable crypto forecasts. Below, we present a VeChain (VET) digital coin forecast. We begin with a short-term prediction and conclude with a VeChain price prediction 2030. After that, we discuss whether mining Monero (XMR) is profitable.
VeChain (VET) Performance Forecast for the Next Few Years
VeChain is a blockchain platform that supports smart contracts. It was launched in 2015 and, since then, has been developing solutions for different industries by leveraging blockchain technology. VeChain utilizes the VET token as the currency of its network. Initially, it was an ERC-20 token running on the Ethereum blockchain. But in 2018, VeChain moved to its own VeChainThor public blockchain.
The maximum supply of this digital asset is over 86.7 billion VET tokens. It reached its all-time high price on April 17, 2021, when it traded at $0.2782. As of the last days of March, VET traded at approximately $0.072. What do experts expect from this cryptocurrency? Wallet Investor and Trading Beasts, two reputable forecast sources, do not expect big things for the remainder of this year. They think the VET price will fluctuate between $0.10 and $0.12.
However, this token’s value will increase steadily over the next few years. According to Wallet Investor, the VET token will sell at around $0.58 in 2025. It will climb to $0.67 in 2026. If these predictions materialize, one can expect the VET price to reach $3 by the end of 2030. So, this token can be a good long-term investment. However, the decision to invest in it is ultimately yours.
Is Monero Mining Profitable?
As promised earlier, we will now discuss Monero mining. Firstly, let us briefly explain what mining is in cryptocurrencies. Each transaction performed with a cryptocurrency is registered in its corresponding blockchain. For the crypto network to remain secure, all transactions must be validated before they are noted down in data blocks added to the blockchain. This validation process is known as mining.
Miners get rewards in cryptocurrency for their help to secure the network. In the case of Monero (XMR), a cryptocurrency focused on privacy and anonymity, mining requires finding solutions to complex cryptographic problems. The miner who first finds the solution to a problem gets the reward. Therefore, to make mining a profitable activity, one needs to have the computational capability to solve the said problems fast.
Currently, mining Monero with a regular computer can hardly be profitable. However, joining a mining pool increases the chances of making a profit. A mining pool is a group of miners that contribute computing power toward solving mining cryptographic problems. Then, the rewards are shared proportionally to the computer power of each member of the mining pool.
