Trading and putting your money in cryptocurrency can be intimidating at first. With several news on scams and people losing money, it is indeed a scary world for beginners. While all of it is true, it has never been so easy to invest and trade nowadays as many friendly-interface crypto exchanges exist.
Most of the time, the concerns when trading or investing in Bitcoin and other cryptocurrencies, is safety and security. With different types of exchanges, complicated platforms, and complex mobile applications, crypto enthusiasts are now interested in exchanges with user-friendly interfaces. Apart from this, once you have decided on an exchange, it is important to also practice safe storage.
In addition to all of this, and what VDollar Exchange aims to tackle foremost, is the fluctuations faced by the crypto market due to a market crash, or any sort of inconsistency in demand or supply. It has introduced a new mechanism that takes trading activity on the exchange platform and turns it around to power the native token. In effect, the transaction fees that the platform collects are gathered to act as assets, backing VDollar’s value.
VDollar Exchange presents a new and innovative solution to current market problems, placing more authority into the users’ hands. This way, VDollar emerges as a multi-faceted solution for targeting market problems.
Table of contents
VDollar Exchange Details
|Available on Mobile||Yes|
|Number of Supported Coins/Tokens||Over 100 (and counting)|
|Number of Supported Trading Pairs||280+ (and counting)|
VDollar Exchange Ltd. is clearly one of the world’s rising cryptocurrency exchanges in the market right now. In fact, the VDollar headquarters is located in Colorado, USA. Moreover, the exchange is a Money Service Business (MSB) registrant under the jurisdiction of the United States.
Currently, it has three business sectors which are digital currency Exchange (vdollar.io), ultra-circular digital currency wallet (vdollarwallet.com), and its platform for mining coins (vdollar.org). We will discuss this further in this review.
What Makes It Unique:
The VDollar Platform
VDollar is creating a new Trading is Mining mechanism. It is the first decentralized exchange that builds its currency’s value by backing it with transaction fees as underlying assets.
100% of its transaction fees will be put into a USDT Reserve Pool (URP) as the underlying asset giving VDollar its value. In order to stabilize this mechanism and maintain a consistent value flow, each VDollar is pegged to the URP. Also, the IPO will be issued with a 1:1 correspondence with the URP. This system is especially implemented to make sure that each VDollar is anchoring a solid asset.
Furthermore, VDollar established its one-of-a-kind Wallet which is now available on Playstore and iOS. The wallet application allows users to see real-time crypto prices, and chart with different indicators available. Beginners and experienced traders will definitely enjoy using the app as it has a user-friendly interface. VDollar assistant is also available any time of the day when users have questions.
VDollar exchange solves many problems of existing crypto exchanges by bringing for the first time ever a technology that feeds back into itself to retain a high level of control on its value, and act as a hedge against market-influenced price fluctuations. Some of its main features are:
New ‘Trading is Mining’ mechanism
Leveraging top-notch technology, VDollar internalizes the value of its currency by backing it with transaction fees collected from trading on the platform. 100% of these fees are put into a USDT Reserve Pool, which acts as assets giving VDollar its value.
USDT Reserve Pool
The URP holds the transaction fees backing VDollar. It is owned by all coin-holders with a public on-chain address. In fact, the address is public and can be checked. The underlying assets are supported, verifiable, and completely transparent.
Perpetual Motion Machine
VDollar’s issuance cap is 10 Million. For the first issuance, a VDollar will be mined for every 1 USDT of transaction fee conversion. Each following issuance is halved, which means that starting at, for example, 4.5 million tokens issued in the first phase, 2.25 million tokens in the second phase, 1.125 million in the third phase, and so on.
Super Representative Generation Mechanism
Super representatives are elected by voting, with 32 seats, never increasing. Users can also send in applications to become super representatives, by acknowledging that they have a sufficient user base.
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.
|Issuance Cap||10 million||200million|
|100% of the transaction fees support Platform token||Yes||No|
|Transparent & Verifiable||Yes||No|
Pursuing its goal of increasing transparency and user returns when trading, VDollar brings an innovative platform that places focused mechanisms to give traders the optimum value. Targeting weaknesses of other popular cryptocurrencies as well as platforms, it bases its coin on a new ‘Trading is Mining’ system which transforms trading activity into real return value. Safe to say in this case, that money really does make more money!
VDollar is a real asset-backed cryptocurrency as 100% of the transaction fee gathered on the platform is converted to assets and injected into the USDT Reserve Pool. This community-based autonomy means that market trends have a lower influence on VDollar’s value as compared to regular currencies. The underlying asset support is completely transparent and authentic as well and can be checked at any time. These factors will majorly impact VDollar’s value positively.
Transaction Fees get saved to a USDT reserve pool (URP). You can transact and mine simultaneously, and each VDollar is pegged to USDT. Moreso, with this trading mining, it doesn’t use electricity.
Cryptocurrency exchanges are platforms that facilitate the trading of cryptocurrencies for other assets, including digital and fiat currencies. In effect, cryptocurrency exchanges act as an intermediary between a buyer and a seller and make money through commissions and transaction fees.
A cryptocurrency wallet is an application that allows crypto users to store and retrieve their digital assets. As with conventional currency, you don’t need a wallet to spend your cash, but it certainly helps to keep it all in one place.
To learn about the latest news and updates about VDollar, follow CoinQuora’s Exchanges News section.
Disclaimer: This material must not be used as the basis for making any investment decisions. This serves only as helpful material about the crypto exchange. Trading digital assets involve risk and can result in the loss of investment capital. Hence, always make sure to do in-depth research before engaging or investing in any crypto assets