Categories
Money

Make Money As A Teenager

There are so many ways to make money as a teenager: Side hustles, temporary jobs, self-employment and much more. Teens can combine a job with developing skills such as money management, budgeting, credit and financial planning for amazing financial success.

The number of ways to make money as a teenager today is endless. In fact, there is high demand for young people in jobs all over the United States. However, teens commonly run into trouble when it comes to spending, managing a budget or using credit cards. For example, when a teen is given a credit card the first time, they may believe that there is no limit to how much they can spend. However, they quickly find out that credit cards have limits, and you are penalized by the credit card company when you overspend.

How To Earn Money As A TeenIn this article we will discuss ways to make money as a teenager and how they can keep the money through learning good habits. Every parent has the ability to influence their teens personal finance habits. However, whether the influence is positive or negative is determined by you. Here we will discuss ways to make money as a teenager and how you can help teach teens about saving, budgeting and investing.

Teens Learn by Working Hard

Great Ways to Earn Extra Money Include Seasonal Work, Temporary Jobs and Starting a Business

One of the great ways to make money as a teenager is giving them a job. For example, give teens work to do around the house or assign them chores to do. They can earn an allowance by completing tasks. Telling teens about money can be helpful, but experience is the greatest teacher.

If teens are ready for more responsibility, then encourage them to take on a real job outside the family home. There are many jobs available for entry level workers like teenagers. It’s not glamorous to deliver pizzas or wash cars, but these are great opportunities for teens to learn the value of money earned.

Seasonal Work

Seasonal Jobs Include Retail Workers, Tax and Vacation Season Workers

How To Earn Money For TeenagersAnother one of the methods for ways to make money as a teenager is to work seasonal jobs. During the holidays, seasonal workers are needed in many areas. The fall holiday season is the busiest shopping time of the year. Employers hire extra staff to help with the higher demand from customers. For example, seasonal jobs might include retail sales, delivery drivers and merchandise stockers.

In addition, other seasonal jobs include working in the tax industry during tax season and working festivals and resorts during the summer or winter vacation season.

Side Hustle: Ways to Make Money as a Teenager

Having a side hustle has become more common these days. Unfortunately, many people work a second job simply to make ends meet. But there’s no shame in working hard to get ahead. Common side hustles today include:

  • Uber/Lyft Driver
  • Food/Grocery Delivery
  • Dog Walking and Sitting
  • Babysitting
  • House Cleaning
  • Gig Economy Services (Fiverr)
  • Freelance Work Online
  • Tutoring
  • Wash and Detail Cars

Start a Business

There are Great Opportunities for Starting a Business, Including Service Industry Business, Home Based Business and Home Sales Businessfinancial planning for women

Teenagers don’t usually consider starting their own business. But, one of the possible ways to make money as a teenager is by starting a business. There are endless opportunities for someone willing to work hard. You can start a business locally in the service industry, such as delivery, home/car repair, pet sitting/walking, babysitting, etc. None of these businesses require an office or a startup cost.

Teens can also work from a computer at home. Sell things online on Amazon, eBay, Etsy, Facebook Marketplace or other e-service platforms. They can buy and sell new or used items, even create their own brand. There are many options for selling goods online and ways to make money as a teenager.

Develop Good Habits and Learn Investing

Good Habits Include Budget Control, Staying the Course, Investment Knowledge and Discipline

Developing good money habits is critical on the path to making and keeping money. Many people find that making money is easy; however, holding on to the money you earn can be difficult without understanding good money habits. Once teens establish goals and a budget plan, you must implement good habits. Good habits include:

  • Budget Control
  • Staying the Course
  • Investment Knowledge
  • Strong Habits and Discipline

Budget control means that you operate under a balanced budget. Spending is controlled so that remaining cash flow is routed toward smart investments. Learning to invest now can make life easier for young people as they move into middle age.

Staying the course requires that you consistently repeat what you are doing, so long as you are successful. If something doesn’t work, it can be changed. But the power of earning from compounding interest is continuously investing money.

Being a good investor requires that you continuously educate yourself. You want to learn as much as possible about your investments. You will accrue knowledge and wisdom on different investment strategies over time.

Learning what has worked for other successful investors is the easiest and most secure strategy for success with money. Successful investors get up early each morning and focus on their goals. Investing money is a priority to them and their focus is on earning and business. Many successful people make time for self-development activities, such as exercise and meditation. And they make these habits part of their daily ritual.How To Grow Wealth In Your 30s

Learn to Save Money Every Paycheck

Put Aside 10-15% of Your Regular Income for Investment

One of the habits that are important related to ways to make money as a teenager is learning to save some of each paycheck or from their allowance. Make it a habit to take 10-15% of money earned and save it. After a short time, you will realize that you don’t even miss the money.

Make saving 10-15% of each paycheck easy by setting up an automatic money transfer to their savings account. For example, each time their paycheck is deposited into the checking account, have an automatic transfer set up that moves money into the savings account. Some people find it helpful to have a savings account that is in a different bank. This reduces the temptation to spend savings.

Saving a small portion of your regular earnings is far from a new concept. Financially successful people have been doing it for hundreds or thousands of years. Saving can be a great tool when it comes to ways to make money as a teen. Read The Richest Man in Babylon to learn more.

Teens Should Learn to Live Below Their Means

Reduce Bad Habits like Eating Out, New cars and Designer Clothing

It is important to form good money habits when searching for ways to make money as a teenager. In many cases, frugal living is the cornerstone of financial success. This simply means spending less than you make. A simple monthly budget can assist you in determining whether you are meeting your goal. And these good habits can carry forward for a lifetime.

Unfortunately, living frugally is not popular in the 21st century. Popular culture dictates what “normal” consumer behavior looks like. And it’s considered normal to go out and spend money at restaurants, on vacations and the like. In addition, it’s “normal” to buy a big house and drive a new car.

Financially successful people don’t ascribe to normal behaviors. People with the millionaire mindset only purchase what is needed. They don’t buy new cars or fancy things. As a result, the extra money saved from this frugal behavior is put to work in investments.

Budgeting

Budgeting Can Help Teenagers by Creating Good Habits, Learning to Save and Becoming Organized

One of the critical ways to make money as a teenager is by learning how to budget. When you don’t use a budget, money that you earn simply disappears. Budgeting is one of the critical steps that can help teens take control of their life and get ahead. In the process of taking control, we also prepare ourselves for better quality of life by having more money. Having more money means that you have more power to dictate the kind of life you want.How To Make Money As A Teenager

How Budgeting Can Help Teenagers:

  • Improve your credit score
  • Learn to save money
  • Learn investing
  • Stop wasting money and curb bad habits
  • Obtain financial freedom

Create a Budget

Budgeting Creates Positive Habits, Helps with Tracking Money and Teaches How to Balance Budgets

One of the best ways to start saving money is for teens to learn to budget. That is, it’s important to keep track of your money. And a budget helps you achieve that objective. In addition, budgeting on a monthly basis creates positive habits for teens.

Having a balanced budget means spending less of your paycheck. Preferably, you will have a significant amount of money left over to pay off debt and save for investing. In short, everyone should budget, whether you are a large corporation or just one person.

There are many things to consider when starting a budget. Need help with budgeting? Read more about budgeting in “10 Things to Know before Starting a Budget.

Beware of Credit Cards and Debt

Credit Cards Can Create Painful Financial Lessons for Teens by Overspending and Interest

One dangerous lesson to learn related to ways to make money as a teenager is overspending on credit cards. In the modern era, gaining access to credit is far too easy, even for teens. Earning money can be easy. However, if you borrow money by using a credit card, it must be paid back. This can cause teens to feel defeated when they work hard but spend their money on credit card payments.

Having a credit card can be a double-edged sword for young people. First, using a credit card can be a learning tool about how debt works. In addition, teens can learn about paying bills each month. However, there’s a risk that comes with credit: overspending. When teens spend money than is allowed on the credit card, or spend more than can be paid back, it can be a painful lesson in finance.

If a teenager makes a mistake with a credit card, or overdrafts an account, it can become a learning tool. Use the situation as an opportunity to discuss personal finance and answer questions for teens. Teens can learn the lesson of debt and compounding interest when they must pay back what was borrowed.

Teach Teens About Banking

Once your teenager has demonstrated that they are serious about money, opening a bank account for them may be an option. Having a bank account will teach them responsibility with money. They will need to learn how to balance a checkbook and know not to overdraft the account.

Learn About Credit Scores

During a teen’s journey to become intelligent about money, it’s important that credit scores are tracked. In fact, teens do not have a credit score yet, so opening a financial account or borrowing a small amount of money will be a way for them to establish a credit history.

In addition, now is an important time to discuss the threats that exist regarding credit fraud and theft. Teens will learn that you must monitor your credit for errors and for fraud. Furthermore, establishing a good credit score can make larger purchases possible, such as cars and houses. There are a number of companies that can help with credit monitoring.

Establish Your Financial Goals

Before your teen starts budgeting, it’s important to know what your goals to establish. As a teen, knowing what you are working toward makes it clear in your mind. Budgeting can be a great personal sacrifice but when teens have their goal in sight, things are made easier. For example, if a teen is saving money for a car, they become clear about what they are working toward.

Final Thoughts on How to Make Money as a Teenager

Teaching teens about money is something that can pay dividends for them later in life. And clearly there are many methods for ways to make money as a teen. Unfortunately, personal finance lessons such as budgeting and saving are not taught at most schools. It’s up to parents and family to help young people become more financially responsible. Finally, as teens learn money management, budgeting and financial planning they are better prepared for a successful future.

Read More:

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Disclaimer: It is important to note that Piggy Bank Coins does not provide financial advice. We do not endorse or recommend any financial investments. Instead, we provide information for educational purposes to those seeking knowledge regarding personal finance. However, in the spirit of transparency, note that the author is an investor in cryptocurrencies, precious metals and some equities.

In addition, The Federal Trade Commission (FTC) requires that Piggy Bank Coins disclose to readers that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. Moreover, we try our best to keep things fair and balanced, to help you make the best choice for you.

Categories
Business

Best Products To Flip On eBay

Online sales of new and used merchandise is exploding right now. Recently, many small business owners have begun to buy and re-sell items on platforms such as Shopify, eBay and Amazon. Online selling platforms drive lots of traffic and business to a single website through powerful search engines. As a result, selling bulk items on these websites can be a lucrative way to make money. In this article we explain the best products to flip on eBay and how to run an ecommerce business.

According to the eBay website, there are many easy things that you can learn the best products to flip on eBay. They include things like electronics, toys and clothing.

Here are examples of items which are in demand globally:

  • Jewelry & Watches. Watches. Engagement Rings. Fine Earrings & Rings.
  • Computers/Tablets & Networking. Printer Ink, Toner & Paper. Graphics/Video Cards. PC Laptops, Netbooks & Laptop Replacement Parts.
  • Cell Phones & Accessories. Cell Phones, Smartphones & Parts. Cases, Covers & Skins. Headsets.
  • Video Games & Consoles. Popular Games, Consoles and Video Game Merchandise.
  • Clothing, Shoes & Accessories. Women’s Bags & Handbags. Clothing, Shoes & Accessories.
  • Cameras & Photo. Lenses. Digital & Film Cameras.
  • Health & Beauty. Fragrances. Anti-Aging Products. Vitamins & Minerals.
  • Music, DVDs & Movies. Music Records & CDs. DVDs & Blu-ray Discs.
  • Automotive. Car & Truck Parts. Car Audio & Electrical Components. –eBay Website

Obviously, this is a large swathe of what are considered to be the easiest things that you can learn the best products to flip on eBay. It is a good idea to start out with a longer list of items you can sell, and then begin narrowing it down to your focus products. As a result, this will help you choose the best product for your business.

Top 10 Products: The Best Products to Flip on eBay

  • Jewelry/Watches
  • Computers/Accessories
  • Cell Phones/Accessories
  • Video Games/Accessories
  • Clothing/Shoes
  • Cameras/Photo
  • Health/Beauty
  • Music/Movies/Entertainment
  • Automotive
  • Bonus: Vintage items, including electronics, vintage collectibles, such as toys, knives, war memorabilia, and more.

Hot Pandemic Items to Sell

Many people are stuck at home with nothing to do (but shop). As a result, they are looking for things that they can use during the quarantine. Moreover, people are doing more at home and less in public. Instead of driving to the gym, they are doing a home workout; instead of driving to get coffee, they are making a latte in their kitchen; instead of traveling to work, they are working from home. Furthermore, understanding this will help you tailor a products list that will have a better chance selling on eBay.

Pandemic Products Include:

  • Exercise equipment (ex. Dumbbells, weights, yoga)
  • Cleaning supplies (ex. Wipes, hand sanitizer)
  • Gaming accessories (ex. Headsets, gaming chairs)
  • Office supplies/accessories (ex. Printers, furniture)
  • Small appliances (ex. Coffee maker, margarita machine)

Although the list of best selling eBay products changes from day-to-day, here are some core products that have been hot sellers in the past. In addition, keep in mind that there are seasonal items that come and go. For example, holiday items sell best during holidays like Christmas, and summer fun items sell in the summer.

Start an Online Ecommerce Store

Websites like Shopify, Amazon and eBay make it relatively easy for you to open an e-commerce store for practically nothing. For example, there are tons of videos and posts online about how to go about this. Furthermore, if you go this route, do your research and determine which site is the best fit for you. Getting started can sometimes be a challenge.

Also, you can sell services online. Are you good at building websites, social media or marketing? Many businesses now have an online presence and they need marketers and SEO consultants to help them reach customers. Becoming an ecommerce or online marketing expert can be a lucrative career.

Sell Items Lying Around the House

Sell Things Like Electronics, Jewelry and Name Brand Items Online or in a Garage Sale

The quickest way to get started selling on eBay is to sell things you already own, but don’t need. Take an inventory of what you have at home that isn’t needed. Cell phones, gift cards and electronics are quick sellers. Other items that you may have not considered include:

  • Jewelry
  • Vintage toys
  • Fitness equipment
  • Collectibles
  • Name Brand Items (Apple, Bose, Tiffany, Etc.)

First, the common places to sell the items include eBay, Etsy, LetGo, Swappa, Gift Card Granny and Gazelle. Each of these sellers offers a phone app so you can easily manage purchases directly from your cell phone. The money from each sale goes directly to your bank account. Note: fees may apply.

Second, once you have decided on using eBay, simply gather your products you want to sell. You may want to clean them and prepare them for photos. Once products are clean, photograph them, and begin listing them on eBay. You will find that eBay has a great smart phone app that allows you to do everything without the use of a home computer.

Side Hustle or Full-Time Work   

Learning the best products to flip on eBay can be something you can do in your spare time. Furthermore, you can also be an online seller full-time. One example you might think of is eBay auction sites. You can make a lot of money by buying products from wholesale suppliers to sell online on websites like Amazon and eBay. Buying items wholesale at a low price and then selling them on a website like eBay or Amazon can be something you could do for a small fraction of the cost they buy in bulk at a wholesale price.

New or Used Items

There are many opportunities for buying either new or used items for bulk resale. For example, you may decide that you want to do drop shipping and buy bulk new items. For example, many sellers on Amazon buy bulk items from online sellers in China such as Alibaba. Furthermore, the sellers receive a discount for buying items in bulk. The items can then be sold at higher, retail prices on websites to US buyers for a profit. As a result, this is essentially the drop shipping model of sales.

best selling items on eBay right nowNext, you can also choose to buy used or damaged merchandise for resale. For example, participating in an online mass auctions are a great way to find the things that you need for the best products to flip on eBay. If you just want to get a bargain or plan to buy items en masse, this may be the best way you can get experience for the best products to flip on eBay. The quality is quite good and you can get discounts, but the rest of the item you buy will be sold at a much lower price. Examples of this include buying bulk auctions from retailers such as Target, Amazon and Wal-Mart.

Buying the low priced items can enable you to learn the best products to flip on eBay and ensures you a low investment cost, increasing the profit margins on your resales. In addition, learning the best products to flip on eBay ensures lower prices for each unit and increases your profit margins on resales as an effect.

Wholesale and Retail Profit   

When you choose wholesale and retail, remember that the profit you make also depends on how cheap the wholesale price is. If you need to buy your goods in large quantities, wholesale is usually more expensive than resale or drop shipping. It is more cost-intensive and more effective for a wholesaler to buy the products from a manufacturer and get a discount than for each item individually. Buy the easiest method for the best products to flip on eBay is to purchase at wholesale prices, maintain low business costs and still make a profit.

If you just want a good deal at wholesale prices or don’t want to deal with private labels, wholesale is another great alternative. If you buy from a liquidator or wholesaler or buy pallets directly from Walmart without checking the source, you can save money and increase your profit margin. Furthermore, big online retailers like eBay and Amazon allow easy access to their platforms for the best products to flip on eBay. However, wholesale can also be a bigger alternative for those who only need to buy in bulk.

Other Ways to Reduce Costs   

If you also want to buy large quantities of items from a manufacturer or distributor without paying tax, you can obtain a resale license known as a wholesale license because wholesalers use it to purchase large quantities of inventory. Buying and selling goods wholesale is not strictly necessary to sell goods, but many wholesalers will require or require VAT and ID.

Wholesale Selling Strategy for eBay  

Once you have all the information you need regarding the best products to flip on eBay, you can start your wholesale selling strategy. Let’s go through several ways to find the best wholesale companies for your small business, from drop shipping suppliers to wholesalers. Now that we have developed our wholesale pricing strategy, it is time to look for potential wholesale customers.

To buy wholesale goods in a store, visit a competitor store that sells a line of products similar to yours. If you know that the product is selling well, buy it and take it to the wholesale market.

reselling on AmazonMost wholesalers have a minimum purchase quantity for the things that you can learn the best products to flip on eBay, so you need to identify which products are best suited for bulk sales. Your product will probably be sold in large quantities to many different retailers and distributors. If you buy your product from a wholesaler, you can sell it at a higher price to make a profit, but if you sell it wholesale, it is probably not worth buying it from them and selling it at the high price at which you made a profit.

If you buy large quantities of the products that things that you can learn the best products to flip on eBay, you can sell it over a longer period of time and benefit from selling your products at a higher price.

Wrap Up: The Best Products to Flip on eBay

Whether you are opening a retail store or store or simply buying wholesale for the first time, it is vital that you understand the process of finding and selling the products on eBay. To successfully learn the best products to flip on eBay and Amazon, you need to identify the needs of your suppliers and customers and then learn how to get them. Whether you are buying bulk clothing or reselling, finding the best suppliers to use for bulk shopping is critical to your business success.

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Disclaimer:

It is important to note that Piggy Bank Coins does not provide financial advice. We do not endorse or recommend any financial investments. Instead, we provide information for educational purposes to those seeking knowledge regarding personal finance. However, in the spirit of transparency, note that the author is an investor in cryptocurrencies, precious metals and some equities.

In addition, The Federal Trade Commission (FTC) requires that Piggy Bank Coins disclose to readers that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. Moreover, we try our best to keep things fair and balanced, to help you make the best choice for you.

 

Categories
Cryptocurrency

Next Cryptocurrency To Explode In 2022

In this article we discuss the next cryptocurrency to explode in 2022. There are many options for potential winning cryptocurrencies and there is still time to become a crypto investor. Furthermore, many of the projects we discuss here are affordable for anyone who wants to invest in cryptocurrencies.

There are actually several cryptocurrencies that are important and growing. We believe that we have identified several that may be the next cryptocurrency to explode in 2022. Read on to learn more about the next cryptocurrency to explode in 2022.

The Next Cryptocurrency to Explode in 2022

best cryptocurrency under $1There are several solid projects that we believe are going to be winners in the future. They have solid technology, a winning team of developers and a strong community of supporters. In addition, these projects serve a purpose in the crypto currency space and may be considered the next cryptocurrency to explode in 2022.

Choices For the Next Cryptocurrency to Explode in 2022

  • Cardano
  • Decentraland
  • Polkadot
  • Chainlink
  • Zilliqa
  • VeChain

Cardano

Ada is a decentralized digital currency. Second, Ada doesn’t require third party involvement. In addition, Ada is exchangeable world-wide. Finally, the blockchain records each transaction permanently.

History of Cardano

Ada price predictionCardano started out in 2015 as a vision to address blockchain problems of scalability, interoperability and sustainability. Later, after much communication and coordination on GitHub, the Byron era began in 2017. The purpose of the Cardano project was to solve the problems encountered in the future for cryptocurrencies. It is a next generation crypto project.

The Cardano (ADA) Project Proof of Stake

The Ada token is part of the proof of stake methodology. For example, each Ada holder can hold a stake in the Cardano blockchain network. As a result, users who hold Ada will earn a reward for participating in the network. This proof of stake model really helps improve Ada coin price prediction  by increasing the overall value of the project.

Decentraland (MANA)

MANA (Decentraland) is a virtual reality platform. The Ethereum blockchain powers the platform. Using Decentraland, users can create, experience, and monetize content and applications. In this virtual world, users purchase plots of land that they can later navigate, build upon and monetize.

Launched in 2017

Decentraland was launched during an ICO in 2017. In addition, the project was opened up to everyone to use in 2020. Currently, users have created a wide range of experiences on their parcels of LAND, including interactive games, sprawling 3D scenes and a variety of other interactive experiences.

How Decentraland Works

Decentraland uses two tokens: MANA and LAND. The MANA token is an ERC-20 token that must be burned to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for a range of things, such as avatars, wearables, names, etc. The tokens are used on the Decentraland marketplace.

Decentraland is built for content creators, businesses and individuals that are looking for a new artistic medium, business opportunity, or source of entertainment.

The Metaverse Gaming World

In total, the Decentraland game world — termed the “Metaverse” — is divided into 90,601 individual parcels of LAND, each of which is represented by an ERC-721 non-fungible token. Each LAND is exactly 16m x 16m (100 square meters) and can be found at a particular coordinate in the Metaverse.

Though LAND holders are free to develop their plot into whatever they choose, much of the Metaverse is broadly divided into several districts, each of which has a different size and theme. These districts were generated through individual crowd sales for MANA tokens, and parcels of LAND in these districts cannot be traded.

Although Decentraland is not one of the hottest cryptos, it may be the next cryptocurrency to explode in 2022. Furthermore, it appears to be a strong project with a promising future.

MANA Income

Besides being a creative outlet, many Decentraland users currently monetize their LAND through leasing, advertising and paid experiences. Likewise, other users generate an income by creating and selling items on the Decentraland marketplace for MANA tokens.

Chainlink (LINK)

Developed in 2017, Chainlink is a decentralized network that connects smart contracts with real world data. Furthermore, the Chainlink decentralized oracle network is operated by node operators. In addition, operators that maintain nodes are paid LINK cryptocurrency. The nodes connect the system like links in a chain. Chainlink runs on the Ethereum network and plays a critical role in execution of smart contracts. It is one of the new rising stars of the cryptocurrency revolution and an important cryptocurrency to invest in.

Polkadot (DOT)

Another new rising star in the cryptocurrency space is Polkadot. The Web3 Foundation created Polkadot. Its primary function is to facilitate the operation of block chains together. The DOT coin functions in three ways: staking, bonding and networking. Finally, Polkadot contains special tools like specialization, scale and inoperability which act as catalysts between block chains.

Zilliqa (ZIL)

Zilliqa is a blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralized applications. In addition, it allows for staking and yield farming.

zilliqaThe project was founded in 2017 and launched its testnet in 2018. Later, in 2019, the Zilliqa platform launched its mainnet for everyone to participate. The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.

Founders

Zilliqa was first conceived by Prateek Saxena, an assistant professor at the National University of Singapore School of Computing. Saxena and several students in the School of Computing published a paper in 2016 that outlined how a sharding-focused blockchain could improve network efficiency and speed.

Zilliqa Scalability Solved?

The project states that they run entirely on a sharded network. As a result, this allows it to achieve a high rate of transactions per second, which may solve the scalability issue. Because each shard processes transactions individually, as the network grows and the number of shards increases, the number of transactions that can be processed per second also increases. As well, records are immediately added to the Zilliqa blockchain after being processed, meaning that no additional time for confirmation is required.

Zilliqa seeks to become the blockchain of choice for large-scale enterprise use, including among the advertising, gaming, entertainment and financial services and payments industries. In its 2018 position paper, its team states that the platform “aims to rival traditional centralized payment methods such as VISA and MasterCard.”

VeChain (VET)

VeChain (VET) is a blockchain-powered supply chain platform. It was founded in 2015 and launched in June 2016. It uses distributed governance and Internet of Things (IoT) technology to create an ecosystem which solves some of the major problems with supply chain management.

The VeChain platform uses two tokens, VET and VTHO, to manage and create value based on its VeChain Thor public blockchain. Using two in-house tokens boosts the efficiency, traceability and transparency of supply chains while reducing costs and placing more control in the hands of individual users. VeChain launched in 2016, making it one of the oldest dedicated blockchain supply chain platforms on the market.

Founders

VeChain is the product of creator and co-founder Sunny Lu, an IT executive who was formerly CIO of Louis Vuitton China. Fellow co-founder Jay Zhang, who directs VeChain’s global corporate structure, governance, and financial management, previously worked for both Deloitte and Price Waterhouse Coopers in the finance and risk management sphere.

Using transparent technology with no single point of weakness or control allows for greater security, efficiency and ease of tracking products in a given supply chain, while reducing cost through trustless automation. VeChain’s model thus appeals to businesses looking to reduce supply chain friction and give a more transparent impression to clients.

VeChain’s official literature notes that its unique proposition lies in its dual-token setup, among other features. In-house token fees combine with charges for various services to generate operating income for the company, while token holders can engage in activities such as staking, thus providing liquidity in return for rewards.

VTHO and VET Tokens

The VET token is used for transactions and other activities, while VTHO provides fee payments and thus functions as a “gas token,” similar to how gas functions for Ethereum (ETH) transactions. VET holders automatically generate a small amount of passive income in VTHO, while 70% of the VTHO used in a VET payment is destroyed. VTHO is generated based on VET holdings, while VET itself has a maximum fixed supply of 86,712,634,466 tokens.

Bonus: More Exploding Cryptocurrency For 2022

The altcoins discussed so far have demonstrated longevity, strong communities and real use cases for their growth and development. We believe they are legitimate projects and not $h*t coins. Here are a few more altcoins that are a little riskier, but offer more growth (and profit) potential (Remember: do your own research before investing).

  • Elrond (EGLD)
  • Aave (AAVE)
  • Uniswap (UNI)
  • Oasis Network (ROSE)
  • Ramp (RAMP)
  • Synthetix (SNX)

Note: Some of these altcoins may be more difficult to obtain, especially for US Citizens. Again, these are high risk, and you can easily lose money here. Buyer beware.

Bitcoin Exchanges and More Information

Hopefully this article has helped you make a better decision about the next cryptocurrency to explode in 2022. There are many exchanges that can be used to purchase cryptocurrency. Binance, Gemini, Kraken, Coinbase and so many more. Please do your research if you decide to invest. There are many scams in the crypto industry that are searching for an easy mark. If you want to learn more about Bitcoin and cryptocurrency, there are more articles by Piggy Bank Coins below.

Next Cryptocurrency to Explode in 2022 Wrap Up

As you can see, there are many choices for the next cryptocurrency to explode in 2022. Cryptocurrency is a growing industry with a bright future. Blockchain technology is here to stay and will be a part of the growing tech revolution. As a result, cryptocurrency should play an important part in everyone’s investment strategy.

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How to Become a Millionaire from Nothing

Disclaimer

It is important to note that Piggy Bank Coins does not provide financial advice. We don’t endorse or recommend any financial investments. Instead, we provide information for educational purposes to those seeking knowledge regarding personal finance. However, in the spirit of transparency, note that the author is an investor in cryptocurrencies, precious metals and some equities.

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