Buy Velocity (VELO)
What is Velo?
Velo is a decentralised settlement network designed to enable secure and transparent value transfers. It allows licensed financial institutions to create and exchange digital assets pegged 1:1 to any local currency, which are backed by Velo tokens.
How does Velo work?
Velo operates on a combination of the Stellar blockchain and Evrynet, a fork of Ethereum, to take advantage of smart contract capabilities and efficient transaction processing. It uses a digital reserve system and digital credit issuance mechanism to maintain a 1:1 value ratio between issued digital credits and associated fiat currency, facilitated by staking tokens in collateral pools. The network also integrates with The Graph for data-driven Web3 innovation.
What are the potential use cases for Velo?
Velo has several potential use cases, including:
- Offsetting transaction fees on its Universe hybrid DEX.
- Enabling borderless transfers between institutions and retail users via Lightnet.
- Tokenising real-world assets to increase liquidity and accessibility.
- Providing peer-to-peer payments through the Orbit mobile application.
- Facilitating B2B payments and remittances.
Velo also has notable partnerships with organisations such as EvryNet and TransactCloud, enhancing its interoperability and service offerings.
What is the history of Velo?
Velo was founded by Velo Labs and is supported by the Stellar Network and CP Group, one of Asia's largest conglomerates. Its development aims to improve financial transactions by integrating traditional finance with blockchain technology. Key milestones include a $10 million investment by DWF Labs to accelerate its ecosystem and the development of the Velo Protocol, which enhances its capability to issue and transact digital credits securely and efficiently.
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Frequently Asked Questions (FAQs)
What is the current price of Velocity (VELO)?
The Velocity price is $0.0384777 AUD, representing a -5.61% from the day prior.
Where is the best place to buy Velocity (VELO) in Australia?
The best place to buy Velocity (VELO) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Velocity (VELO) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Velocity (VELO)?
The trading volume of Velocity (VELO) is $140.0M AUD in the last 24hrs, representing a -5.61% from the day prior.
How can I buy Velocity (VELO)?
Velocity (VELO) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Velocity (VELO)?
The current market cap of Velocity (VELO) is $282.6M AUD.
Can I convert Velocity (VELO) to cash?
Yes - With Coinstash you can convert your Velocity (VELO) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Velocity (VELO) are there?
The current circulating supply of Velocity (VELO) is 7.4B.
Is Coinstash a safe place to buy Velocity (VELO) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Velocity (VELO) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.