A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of VDollar consists of several parts: general information, fees, deposit methods and security.
Platform Name: VDollar
Company: VDollar Exchange LTD
Location: Colorado, USA
License: FinCEN Money Services Business (MSB)
Offerings: Crypto Exchange, Crypto CFDs, Wallet Service
Supported Cryptocurrencies: BTC, ETH, DOGE, XRP, LINK, BCH, ADA, DASH,LTC, EOS, SHIB, FIL, TRX, YFII etc.
VDollar Exchange LTD is registered in Colorado, USA, and has the registration of MSB. It is under the jurisdiction of the United States and has three business sectors, digital currency Exchange (vdollar.io), ultra-circular digital currency wallet (vdollarwallet .com) and new trading is mining coins (vdollar.org).
In a crowded crypto trading space with many platforms offering similar features, VDollar presents a breath of fresh air that makes it quite different from the rest
Trading With VDollar.io
VDollar.io has been designed for beginners and advanced cryptocurrency traders on the platform by offering a Standard and Professional user interface. The list of cryptocurrency trading pairs are hidden and can be expanded to view in full.
The standard version (shown below) is assumed to cater to new traders that includes a chart, order entry box, order profile list and trade history. The order entry box is large and easy to use, however the order book and trade history would be a distraction to new traders that do not read this data.
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view a VDollar
Features of VDollar.io Exchange
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
- A cryptocurrency wallet, VDollarwallet.com
- 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.
Mining is Trading
The Trading Mine is a feature that is unique to the VDollar ecosystem which allows users to earn for their activities on the platform. It also acts as a mechanism for issuance of the project’s native VDollar (VD) token. To enable Mining Trade, the project has set up a USDT Reserve Pool which receives 100% of trading fees collected by the platform. Based on the collections, the VDollar ecosystem will generate and distribute VD tokens to the URP contributors in multiple phases through its Perpetual Motion Machine.
In the first phase, the project will issue VD against USDT reserves in a 1:1 ratio. Meaning, each USDT in the URP will give rise to 1 VD. In the consequent phases, the distribution will undergo progressive halving with each VD distributed against 2 USDTs during the second phase followed by 1 VD against 4 USDT and so on. The total distribution of VD tokens is capped at a maximum of 10 million with each issued token pegged to the URP.
All VDollar operations are transparent and verifiable, including the USDT Reserve Pool which is an on-chain address that is made available to all users. It also has a Super Representative Generation Mechanism that elects 32 Super Representatives to play a role in the project’s governance. These Super Representatives are assigned voting powers and receive compensation for their services in the form of a portion of VD mined by their subordinate users.
How Does VDollar Work?
The VDollar ecosystem has three components: digital currency exchange, digital currency wallet, and its unique trade mining system. But there is one more significant aspect of VDollar and that is its derivative, crypto contracts trading.
- Crypto contracts trading: In this environment, crypto enthusiasts can find up to 18 USDT-settled contracts on several cryptocurrencies. When it comes to the interface and design of VDollar’s crypto contracts trading section, it is both classic yet intuitive to handle traders of varying proficiency.
- Vdollar Swap: Vdollar swap system works like any other swap which allows people to buy or sell contracts with Bitcoin and Ethereum serving as underlying assets. Tether is the settlement asset chosen for this system.
- Over-the-counter desk: Cryptocurrency traders who prefer exchanging without an orderbook require a reliable OTC desk and one of the three derivatives of VDollar projects is such an OTC desk. It can be accessed through the main page by BTC, ETH, and USDT owners.
All about VDollar Coin (VD)
Like most influential crypto projects, VDollar.io has its tokenomics model for the sake of fairness in terms of profit shares within the community. Its native digital asset is known as VDollar Coin (ticker symbol, VD) which is a unique core native currency that will serve as a backbone for the entire VDollar ecosystem.
According to the VDollar whitepaper, the maximum supply of VD Coin has been capped at 10,000,000. It would be minted and pegged as 1:1 corresponding to the URP dynamics. All VD Coin owners who have a public on-chain address will also be entitled to URP coins.
When it comes to security at this exchange, VDollar boasts on its website about its various security features:
- All private keys are encrypted with AES-256 and are stored offline;
- 5% of the user-funds are kept in cold storage with multi-signature technology;
- They have a DDoS-protection system built on a advanced distributed system architecture; and
- All passwords in VDollar’s database are encrypted with what the exchange refers to as “Salted SHA-256”.
VDollar project has surfaced as a unique concept within the traditional crypto exchange industry, challenging giants like Binance and KuCoin exchanges. It has a long way ahead once experienced traders start flocking towards this high-performance crypto project.