The main product provided by VELIC is the digital asset exchange. However, the VELIC ecosystem goes beyond that — the infrastructure incorporates multiple services under the same umbrella. This allows traders, investors, token issuers, and crypto enthusiasts to benefit from a unified solution that revolves around all the essential aspects of the blockchain space.

If you take a look at the VELIC brand-name, you’ll note that each of its letters relates to the network’s components and main aspects — vault, exchange, loan, investment (users can access the asset management service), and crypto asset, also because VELIC is fueled by three different blockchain-based tokens. This full range of solutions is what sets VELIC apart from competitors. Let’s see how VELIC compares to some of the best-known services of the crypto world.

VELIC vs. Coinbase and Binance

Coinbase is the largest cryptocurrency exchange in the US and one of the largest in the world. It has evolved through many stages and has gained a decent reputation, also thanks to its partnerships and relations with some big names in the blockchain space. Nevertheless, it doesn’t mean that VELIC will be inferior when its exchange service gets fully launched — the team has taken into account the most recent innovations and trends in terms of security and usability.

Like VELIC, Coinbase also offers a custody service to store Bitcoin. Last year, Coinbase Custody received a license to operate as a Limited Purpose Trust Company monitored by the New York Department of Financial Services (NYDFS). It means a lot to its reputation, but VELIC’s Vault service is very solid as well. The fintech firm filed for a patent application to elaborate a unique vault solution that will focus on cold storage.

Another similarity with Coinbase is the payments service — VELIC intends to launch a crypto payment system by the end of this year.

While VELIC is still at its nascent stage, it has big plans for the future. The network users will enjoy more services and financial instruments compared to Coinbase and China-based Binance. Besides, VELIC will allow users to access all its services through a single account, which is not true about Coinbase, as its exchange and custody represent two separate units. Also, VELIC is a global network, while Coinbase is currently available in 42 countries only.

Like Binance, VELIC offers its proprietary token to be used to cut fees. However, the latter has as much as three tokens instead of just one — it’s about VELT, VELD, and VELA. This is a unique approach to meet the demand for various types of cryptocurrencies.

VELIC vs. Salt Lending and Nexo

The concept of VELIC Loan service is similar to what SALT Lending and Nexo offer today. However, VELIC users will be able to apply for loans with more favorable conditions and enjoy lower interest when paying with the VELT token. In order to ensure that the cryptocurrency-based collateral keeps relevant, the platform will adopt the margin call option to notify users when their collateral value drops below a certain threshold.

Maybe BitGo is one of the best custody services, SALT is the best crypto credit providers, and Binance is making the list of the best exchanges in the world. However, what sets VELIC apart is that it integrates all these services into a single platform without shredding anything from the high level of quality.