What is VBTC?
VBTC exchange is a Vietnam-based Cryptocurrency trading platform that allows trading only in Bitcoin. It was launched back in 2014 being the first ever bitcoin trading platform for Vietnam with a vision to bring the world of bitcoin to Vietnam. Since 2014 its users-base has increased from 35 million to 700 million, which shows the trust of users in the platform. It primarily operates in FinTech Blockchain Technology markets.
However, since it’s launch Exchange has not raised any funding till now to support and improve its ecosystem. Over the past few years, the platform’s user experience was not up to today’s standard, even users were finding it hard to navigate through the site. Many Vietnamese crypto experts while sharing their thoughts on the platform’s operations said “The platform needs to be updated to meet the present technological demands.”
Respecting the views of it’s users and experts recently the platform has revived itself with a huge investment into the technology and has established its own team to fully control the code base and any further development of the platform. Very recently on 11 January 2023, Exchange relaunched itself with updated functionalities and features.
Where is VBTC Located?
VBTC is originally located in Ho Chi Minh City, Vietnam, in the southeast region of Vietnam. The city was previously known as “Saigon”.
Who Created VBTC?
VBTC was founded by a team of the following persons:
- Aleksander Winter (Co-Founder),
- Dominik Weil (Co-Founder),
- Nguyen Tran Bao Phuong (Co-Founder),
- Phuc Trinh (Co-Founder).
Who Owns VBTC?
BlinkTrade Inc. is listed as the owner of the VBTC according to official site documentation. For those who don’t know about BlinkTrade Inc, it’s a decentralized blockchain based company providing open-source software platform for decentralized crypto trading.
Is VBTC Exchange Available in USA
Unfortunately VBTC currently doesn’t operate in USA which means that users from United States can’t trade on this Platform
VBTC Customer Service:
With the upgraded website live from January 2023, customer support is also available for VBTC exchange. It’s very simple to sign up for free and mail your query to the support team; even if you have any issue regarding the website working or there is any bug. So, simply approach customer service by email, and they will fix it for you. Further, you can get in touch with a team of VBTC on social media such as Facebook, Twitter and more mentioned on the official website. Officially Social Handles are operated by Platform customer support agents and based on our experience they generally respond quickly.
Is VBTC Legit?
Despite the popularity of cryptocurrency in the world and its increasing usage in many countries, it is not recognized as a currency or an asset in Vietnam. The State Bank of Vietnam mentioned in 2017 that virtual currencies are not a legal means of payment according to Vietnamese law.
But things are changing with the changing world as in May 2020, Vietnam established the “Vietnam Blockchain Association”. The discussion in the national assembly about crypto assets has also made its place. According to many finance journalists out there in Vietnam, it is expected that amendments in law would be made to channel cryptocurrency and other crypto assets.
Pros and Cons of VBTC
Like any other crypto exchange platform, VBTC has some advantages and disadvantages as well.
Pros👍
- On the VBTC exchange, you can trade Bitcoin with a 0% trading fee.
- Being a member of the BlinkTrade network, you can access the VBTC platform in any language of your choice.
- Has easy-to-navigate UI and responsive experience. Even a newbie can buy bitcoin within one minute without any hassle.
- The source code is fully open source which means anyone using it can check the trades any time directly on the blockchain.
Cons👎
- Using VBTC, you can only trade Bitcoin and no other cryptocurrency.
- VBTC has yet to raise any investment since its foundation in 2014.
- It is a Vietnam-based cryptocurrency exchange, while trading crypto assets have yet to be legal in Vietnam.
How to to’s of VBTC:
If you are a newbie then follow step-buy-step guide where we are going to explain how you can trade on this platform, signup process and more.
How to Buy Crypto on VBTC?
If you are a newbie in the crypto market and have no idea about crypto trading and how to purchase or sell Bitcoin, then this platform is the best place for you as it has the most simple UI and fast network ensuring that Bitcoin transfers into your wallet within one minute. Follow the simple steps given below to buy Bitcoin using VBTC.
1. Sign Up
Users can sign up using their email address. There is a single-step sign-up form. No extra verifications is required. Provide the email and confirm the email by providing a verification code. With just this single step, traders can access their VBTC dashboard.
2. Quantity of Bitcoin:
After signing up, you will see the dashboard, and there you can add the amount of BTC or the amount of VND and click on Buy. It will deduct the required amount from your wallet, and in return, you’ll have BTC in wallet within a minute.
How to Purchase Bitcoin on VBTC:
In order to purchase Bitcoin on this Exchange, investors will have to deposit VND in their account and put the amount of Bitcoins on dashboard that they want to purchase (Select bitcoin according to the available VND balance in your wallet). The service charges are also mentioned underneath for each transaction. So, keeping everything in mind, now click on Buy.
You are done. Once purchase is successfully completed the BTC balance will reflect in your wallet instantly.
How to Buy Solana on VBTC
Currently, Solana trading is not available on VBTC. Vietnamese traders can only trade in BTC and VND. However, the platform does plan to add altcoin in the near future.
How to Deposit on VBTC
In order to deposit cash in VBTC you can follow these steps. Go to deposits from dashboard and select whether you want to deposit BTC or VND. Further, have a look at the image below for better understanding
You can choose any of its cash offices and can deposit using a bank wire.
How to Sell on VBTC
Not only this trading platform provide a purchasing service for Bitcoin, but also allow users to sell their Bitcoins on VBTC. First of all, Log in to your account, then go to the dashboard, enter the amount of BTC you want to sell, and click on sell.
What Coins does VBTC Support?
If you have questions in mind like What coin does VBTC support? Or what coins are on VBTC then let me clear it.
As of now, VBTC only supports Bitcoin trading. No other cryptocurrency including Ethereum, Sol, Matic are available to trade.
What Can You Buy on VBTC?
On VBTC, investors can buy Bitcoin if they have VND, or can sell Bitcoin and buy VND if have Bitcoin in their wallet. From 2014 till now, VBTC has only been providing trading of bitcoin.
