New cryptocurrencies are regularly introduced into the digital market. Both new and well-established cryptocurrencies allow traders to diversify their investment portfolios. However, only some digital currencies can be used to exchange goods and services; most cryptocurrencies are subject to speculative investments to earn profits. With the growing popularity of cryptocurrency trading, there’s a growing need for comprehensive cryptocurrency exchanges that are acknowledged globally.
It is also important for such exchanges to offer a multitude of services apart from various types of trading. VDollar Exchange is one such cryptocurrency contracts exchange platform that you should try. And to grab all the details of its services and fees, read this VDollar exchange review thoroughly.
VDollar Exchange Summary
|BTC, ETH, VD, FIL, DOGE, XRP, BSV, ZRX, DASH, & more
|Supported Fiat Currencies
|EUR, USD, CNY, HKD, KRW
|Not Support Countries that Consider Cryptocurrency Trading Illegal
|Makers – 0.06%Takers – 0.04%
|Mainly Used for Miners
|Live Chat, Email, and Submit Complaint Support
vDOLLAR is the underlying token of the VDollar Exchange. It is a 4pool Metapool of DeFi. Typically, a metapool allows the deposit of a single asset into a pool but with multiple digital coins. Simply put, the vDOLLAR token is an amalgamation of four stablecoins, namely, DAI, USDC, USDT, and BUSD.
What is VDollar Exchange?
As stated earlier, VDollar exchange platform offers a multitude of services, including a cryptocurrency exchange, margin trading, OTC, coin-margined, and USDT-margined swap trading, among others. The VDollar ultra-circular digital currency wallet is a major highlight of the platform.
Compared to conventional digital currency wallets, the VDollar ultra-circular digital currency wallet supports seamless transactions, transfers, deposits, and withdrawals of cryptocurrencies. Apart from the wallet, VDollar Exchange is also well-known for its unique mining mechanism where a 100% transaction fee is put into the USDT Reserve Pool. And, it is very essential to choose the best crypto wallet, we have listed some, read more to know it.
Main Features of VDollar Exchange
VDollar cryptocurrency trading platform is designed to support a simple user interface. The site is ideal for both new traders and professionals. The easy-to-navigate website is divided into the following sections: exchange, OTC, Swaps, Margin, and Trading Mine.
Simple User Interface
Presently, the website supports English and Chinese languages. The setting icon and language options are visible on the right-hand side of the VDollar Exchange website.
The exchange section of the VDollar exchange platform supports the following cryptocurrency markets: BTC, ETH, VD, FIL, DOGE, XRP, BSV, ZRX, DASH, EOS, ZIL, LTC, among others. The chart displays both high and low trading volume along with a 24hr volume period. Users also can set limits for ‘take profit’ and ‘stop loss’ for effective risk management.
Unique Mining Mechanism
VDollar exchange created a new mining mechanism, which involves a 100% transaction fee put into the USDT reserve pool. Here, this fee is used as the underlying asset.
Simply put, the IPO is issued at 1:1 for VDollar to URP ratio. And, every time the VDollar is halved, the value of the issuance cap is pegged at 10 million. Also, the URP has a public on-chain address that all coin holders own.
Vdust Mining Reward
Whenever mining VDollar, it becomes difficult once the mining reaches the 10th level. Thus, to motivate the miners, Vdust is offered as a reward from the 11th phase. Another important aspect of Vdust is that rather than mining, the reward is determined by the transaction fees contributed by the miners.
Is VDollar Exchange Trustworthy?
Cryptocurrency experts often compare the native token of the VDollar exchange review with BNB, the native currency of Binance. That said, the VDollar exchange can be deemed as a reliable alternative to one of the oldest cryptocurrency exchanges, Binance.
Headquartered in the US, VDollar is a highly regulated cryptocurrency exchange. All the vDOLLAR token holders own the exchange’s mining pool via a public on-chain address.
VDollar is a decentralized exchange with provisions for buying/selling cryptocurrencies using fiat money. It is an effective P2P platform where buyers and sellers can interact for trading cryptocurrency with fiat currency. Buyers and sellers can choose from various payment options to complete the transaction.
Is VDollar Exchange Licensed?
VDollar exchange LTD falls under the jurisdiction of the US government. It also holds an MSB registration, which makes it one of the few regulated and licensed cryptocurrency exchanges. VDollar cryptocurrency trading platform can be accessed by users worldwide, except in Japan.
As per VDollar exchange’s terms and conditions, the website strictly prohibits users from Japan from accessing the site. The exchange also does not support users from those countries that consider cryptocurrency trading illegal.
VDollar Exchange Review: Pros and Cons
|Easy to use cryptocurrency trading platform.
|Limited cryptocurrencies for trading.
|Supports both high and low trading volumes.
|Limited options for customer support.
|Provides margin trading and swap trading services.
|100% transaction fee is treated as the user’s underlying asset.
Registration Process at VDollar Exchange
Similar to most of the reliable cryptocurrency exchanges, VDollar has a simple registration process. Users have the option to register either using their email address or telephone number.
After providing the necessary details, users can set a password and use the same along with the registered email or phone number to access their trading account.
VDollar Exchange Fees
VDollar does not charge any fee for deposits made. However, standard withdrawal fees and trading fees apply. Compared to other exchanges, the fee charged is quite low. Moreover, 100% of the transaction fees are put into the mining pool as the user’s underlying asset. In fact, the user can earn reward points and Vdust with their asset holdings. However, to know full details of VDollar exchange fees click here.
How Does Mining Work at VDollar?
VDollar employs a new trading mining mechanism for mining currency. As stated earlier, a 100% transaction fee is used as the underlying asset, which is converted into USDT and added into the reserve pool. This is further linked to VDollar via the ERC20 smart contract.
As per the mining protocol, the first issued coin is in the ratio 1:1 to ensure proper anchoring of the VDollar. All miners and currency holders own the URP or USDT reserve pool. The balance and currency available are announced daily and audited annually. In fact, the users can access the blockchain using a common address.
How to Trade on VDollar Exchange?
For trading with the VDollar exchange, it is imperative to complete the registration process. After this, users can fund their accounts by using either of the payment methods that range from bank transfers to credit/debit cards to payment gateways like AllPay, WeChat, etc. Readers are advised to note that VDollar employs USDT as its base currency.
VDollar Exchange App
VDollar is accessible via mobile web browser on both Android and iOS devices. One can also download the VDollar mobile app for a better trading experience.
VDollar wallet is a cloud wallet, which is easy to use and manage; It is quite suitable for beginners. The wallet is designed to focus on the global stock exchange to help traders make better investment decisions.
VDollar wallet supports cold storage of cryptocurrency owing to multiple encryptions for added safety. It also features a fingerprint/face unlocking mechanism for hassle-free access.
Supported Currencies & Cryptos
VDollar exchange supports the following cryptocurrencies and fiat currencies:
|BTC, ETH, VD, FIL, DOGE, XRP, BSV, ZRX, DASH, EOS, ZIL, LTC, LINK, BCH, ADA, ETC, YFI, UNI, ELF, TRX, ZRX, SNT, OMG, and HT
|EUR, USD, CNY, HKD, KRW, etc.
VDollar Exchange Customer Support
VDollar has a strong social media presence, enabling users to post their comments and concerns on some common platforms like Twitter, Facebook, etc. The exchange also offers support via email. There is also a contact form option where users can fill in their queries.
VDollar Exchange Review: Conclusion
VDollar exchange LTD is the best crypto exchange that offers a plethora of products and services. Some of its services include margin trading, OTC, swap trading, etc. It is also a P2P platform that connects cryptocurrency buyers and sellers. Our verdict is that VDollar and its underlying token are expected to surpass the BNB token in value due to its unique mining protocol that enables 100% of the transaction fee to be considered the miners’ underlying asset.
Is VDollar Legit and Safe to Use?
Yes, VDollar is a highly regulated cryptocurrency contracts exchange that the Treasury of the US governs. It holds MSB registration, which further ascertains its safety and legitimacy.
How Does VDollar Exchange Work?
VDollar exchange is a reliable alternative to Binance, while its token is considered to overshadow the BNB token. It is a decentralized platform, and the mining is based on proof-of-work protocol. However, what makes VDollar different and better than its contemporaries is that it supports no electricity mining.