Vietnam opens the door to crypto space with help of VBTC

First Vietnamese exchange VBTC and the reasons for its popularity

Each country has its unique financial scene, to which Bitcoin market has been introduced lately. In some countries the process is growing fast, in others- slowly, but steadily. Vietnam is one of the countries with quickly growing sphere of virtual currencies. After economic reforms, introduced in Vietnam in 1986, the prerequisites for growth have been established. The growth of Gross Domestic Product in the country with more than 80 million Vietnamese exceeded 6% thus adding the country to the top-list of rapidly growing economies just like China and India. According to predictions, GDP will be higher in Vietnam by 2050 than in such countries as Portugal or Singapore. All financial experts highly evaluate the potential of the country. Effective adaptation to new circumstances made the development of cryptospace and arrival of such cryptocurrency exchanges as VBTC possible.

The first trading platform was launched by the company Bitcoin Vietnam Co. Ltd. It affected the crypto environment and, actually, formed it.

Later it concluded partnership agreement with Coinarch Pte. Ltd. and created a new service together named VBTC Plus. Margin trading service was introduced on it. The company followed the pattern of Okcoin and Bitfinex, which already demonstrated positive experience in this segment of industry.

The platform is known for immediate depositing and withdrawal of funds. It uses special security protocols like other trading platforms: Coincorner, Cryptonit, Bitonic. Such exchanges as Coinmate and Bit2C also care about security a lot. At the same time the exchange practices absolute transparency just like Bitcoin. Despite use of advanced security measures, VBTC hot wallet is not recommended for storage of assets. You should utilize cold storage instead to be more secure.
With time VBTC Bitcoin exchange attracted traders from all over the region and now customers from Singapore, USA and Israel actively participate in the deals, converting BTC to USD or vice versa.

Leveraged product is offered at the VBTC exchange to make it more attractive for clients. The leverage reaches 8x. This along with high volatility of BTC makes the platform very luring. It is often selected when there is necessity to exchange BTC to USD or conclude other trading deals. One can start trading after depositing at least $10 at VBTC. The software of VBTC is praised for flexibility of performance and convenient trading environment.

Bitcoins are actively used in Vietnam as a means of remittance. With over 4 million citizens living and working abroad this issue is very acute. There is often the necessity of cheaper transfer and conversion of virtual assets. Therefore the offer of BTC to USD exchange is very acute at VBTC. The problems of national currency refer is one more cause of Bitcoin popularity. The Vietnamese dong suffered much from hyperinflation in the 90-s of the last century. It is relatively stable at present but fluctuations can reach 20%. Trying to protect their assets, people invest to Bitcoin and convert BTC to USD when they need cash. Also, Bitcoin seems to be a good investment commodity therefore VBTC is a popular spot for casual customers and regular traders.

VBTC has every reason to be successful. With 70% of population under 30 years old, the population of the country is predominantly young and young people want to use the most advanced technologies and methods of payments. Therefore VBTC services are in high demand among people of Vietnam.