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VDollar Exchange Review: 5 Things you must know before signing up

VDollar.io Crypto Exchange or VDollar Exchange Ltd is a USA-based exchange, which is known for its low fee and unique “trading is mining” mechanism. There is both a global and Chinese version of the platform. In this review, we’ll go over the global VDollar platform’s services, fees, structure and availability.

VDollar Review Summary

VDollar has made its debut as a unique cryptocurrency contracts exchange under the name VDollar.io which is operated by VDollar Exchange Ltd. VDollar’s headquarter is in Colorado, USA. The company has successfully achieved legal status by registering as an MSB (Money Services Business) as per current rules and regulations laid down by the US Financial Crimes Enforcement Network (FinCEN). The company is prepared to maintain its presence in three sectors of business as follows;

  • A digital currency exchange dubbed VDollar.io: Vdollar.io is an inclusive and international exchange platform where one can find margin, OTC, coin-margined swaps, and USDT-margined swaps.
  • A cryptocurrency wallet, VDollarwallet.com: This one is an upgraded ultra-security crypto wallet which is nothing like the traditional alternatives out there. It offers seamless deposits, transfers, and withdrawals for users.
  • New trading mining functionality, VDollar.org: This unique mechanism is a unique feat of vdollar.org where users can take advantage of VDollar’s URP i.e., USDT Reserve Pool.

Features of VDollar

VDollar exchange supports a simple user interface, suits both newbies and experts, has an easy-to-navigate website that is divided into various sections like an exchange, OTC, Swaps, Margin, and Trading Mine. Let’s understand the features of VDollar in detail: 

Simple UI

As described earlier, VDollar has easy to use UI. The website support English and Chinese languages. Users can find the language setting option on the top right side of the website. Currently, the exchange platform supports BTC, ETH, VD, FIL, DOGE, XRP, BSV, ZRX, DASH, EOS, ZIL, LTC, among others. The trading chart displays both high and low trading volume along with 24hr volume period. Features like ‘take profit’ and ‘stop loss’ help traders in effective risk management. 

Mining Mechanism

The unique mechanism of VDollar is explained earlier wherein a 100% transaction fee is put into the USDT reserve pool. The transaction fee acts like the underlying asset. The value of its currency is backed by the transaction fees collected from trading on the platform. 

USDT Reserve Pool (URP)

The URP holds the transaction fees backing VDollar. All coin-holders can own it with a public on-chain address. The address is public and can be verified. The underlying assets of the VDollar exchange are supported, verifiable, and completely transparent. 

Mining Rewards

Mining VDollar seems to be difficult after reaching the 10th level. To motivate miners, VDust is offered as a reward from the 11th level. One of the important aspects of VDust is that the reward is obtained by the transaction fees. 

Fees

As for trading fees, VDollar charges users 0.2%. Unlike many exchanges, VDollar doesn’t offer discounted fees for makers. By some accounts, withdrawal fees slightly exceed 0.0002 BTC.

Swap transactions will cost you less money. That’s where makers are favored over takers. Market makers (or those who place a limit order and make liquidity) are charged with a 0.04% fee while takers pay 0.06%.

What Cryptocurrencies and Fiats are supported at VDollar Exchange?

Cryptocurrencies Supported: 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

Fiat Supported: EUR, USD, CNY, HKD, KRW, etc.

What Makes it Different from BNB

VDollar challenges other market-leading platforms, especially Binance, with a self-serving mechanism wherein trading on the platform will support its native token’s value. This not only means that a healthy trading ecosystem will translate into higher returns for users but also will protect the crypto from market downtrends.

Platform tokenVDollarBNB
Issuance Cap10 Million200 Million
100% of the transaction fee support platform tokenYesNo
Diminishing outputYesNo
Transparent % VerifiableYesNo

Security features

Various VDollar reviews report that the platform uses an Advanced Encryption Standard (AES-256) algorithm to secure its wallets. More so, the databases holding account passwords are said to be encrypted with Salted SHA-256.

For the security of funds, the platform holds the exchange private keys – being a centralized exchange, and holds all users’ funds either in a hot or multi-sig cold wallet accessible by the team. Funds stored on exchanges puts users’ assets in the cross-hairs of malicious actors such as hackers, as cryptocurrency exchanges are oftentimes their targets. 

Users can further protect their accounts and prevent third-party access by setting up email and phone verifications, as well as a google app authenticator.

Customer Support and Reviews 

VDollar has a useful FAQ section on its website, which appears to answer most common queries users may have about the exchange.

Summary

VDollar, a novel cryptocurrency contracts trading ecosystem, is offering a cutting-edge derivatives trading experience for traders with various levels of expertise.

Its mechanism includes universal, leveraged and OTC modules; the latter supports crypto-to-fiat deals. VDollar supports a large suite of assets including staking coins, DeFi coins, crypto majors and even one semi-memetic ‘dog-coin’.

VDollar’s native token VD is a backbone of the project’s tokenomics. It serves as a method of motivation for social media promotions, referral campaigns, and reflects the value of the unique USDT Reserve Pool – the sum of all transactional fees collected by the exchange.

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