The Venus Protocol is a DeFi lending platform functioning as an algorithmic money market. The Protocol brings together well-known financial lending services to decentralized protocols on the blockchain. While not being the only one to do so, it differs from others by enabling supplying collateral for minting synthetic stablecoins (VAI) as well. Users can then earn yield from the minted tokens without locking the assets up in a smart contract. These stablecoins are not backed by traditional fiat or traditional financial assets but by other cryptocurrencies.
The Venus coin is XVS, which is a BEP-20 token hosted on the Binance Smart Chain. It is used in Venus crypto network governance, and its holders can vote on propositions regarding adding new collateral, proposing changes to the network, upgrades to the network or other important elements and improvements to the protocol.
The fastest, most convenient way to purchase Venus is to purchase it on ICONOMI. We check Venus live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Venus by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Venus is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Venus, we recommend you read the next section, as copying might be a better approach.
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Venus in their structure.