Venus Price, News and Analysis (XVS)

Venus Protocol (“Venus”) is an algorithmic-based money market system designed to bring a complete decentralized finance-based lending and credit system onto Binance Smart Chain. Venus enables users to utilize their cryptocurrencies by supplying collateral to the network that may be borrowed by pledging over-collateralized cryptocurrencies. This creates a secure lending environment where the lender receives a compounded interest rate annually (APY) paid per block, while the borrower pays interest on the cryptocurrency borrowed. These interest rates are set by the protocol in a curve yield, where the rates are automated based on the demand of the specific market, such as Bitcoin. (Description provided by CryptoCompare)

It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Venus.

Venus produces its own wallet software that is available for download on its website, which allows you to store Venus on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

One Venus (XVS) is currently worth $117.15 on major cryptocurrency exchanges. You can also exchange one Venus for 0.00232899 bitcoin(s) on major exchanges. The value (or market capitalization) of all available Venus in U.S. dollars is $1.16 billion.

Venus is a proof of work (PoW) and proof of stake (PoS) coin that uses the Scrypt algorithm.

Venus and other Scrypt coins can typically only be mined profitably with a piece of specialized mining hardware called an ASIC, which stands for application-specific integrated circuit. Major manufacturers of ASICs include BitMain (AntMiner), Microbt (Whatsminer), and Canaan (AvalonMiner). ASIC hardware can be purchased directly from the manufacturer or from resellers on Amazon and eBay.

The following coins use Venus's Scrypt algorithm and proof of work (PoW) and proof of stake (PoS) proof-type: Wrapped Bitcoin, Cosmos, Creditcoin, Function X, Darwinia Network, Phantasma, mStable USD, Redd, StableXSwap, DAOstack, Nestree, Offshift, Trollcoin, ChatCoin and OKCash.