VDollar Exchange Review 2021: Details, Trading Fee, Features and all you need to know about

Today, the crypto currency exchange market is filled with a wide range of choices, which makes it difficult to choose the right exchange or trading platform for both novice and veteran cryptocurrency users.

VDollar is a one-stop ecosystem for cryptocurrencies contracts trading. Besides offering contracts on various digital assets, it boasts an over-the-counter platform for sophisticated traders, swap modules, community-driven initiatives and a one-of-a-kind ‘Trading Mine’ instrument.

About VDollar Exchange

VDollar cryptocurrencies exchange (Vdollar.io) is registered in the United States(U.S.). The platform is operated by VDollar Exchange Limited. This firm is properly registered and incorporated in Colorado. Its activity is carried out under the Money Services Business (MSB) license issued by the U.S. Financial Crimes Enforcement Network.

Is VDollar Exchange Licensed?

VDollar has a license of The Accounting and Corporate Regulatory Authority which is a statutory board under the Ministry of Finance of the Singapore Government.

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.

From a big picture perspective, VDollar’s ecosystem comprises three business segments: a digital currency exchange (vdollar.io), and ultra-circular digital currency wallet (vdollarwallet.com), and a unique ‘Trade Mining’ module (vdollar.org).

Features of VDollar Exchange

VDollar cryptocurrency exchange is designed to support the new trader as well as retain investors with a simple user interface. As the crypto exchange has all features like Spot trading, Exchange, OTC, Swaps, Margins and Trading Mining feature (which is unique), the VDollar exchange is best fit for beginner as well as professional traders.

Features 1: Derivatives

The most important and popular module of VDollar infrastructure is its derivatives (crypto contracts) trading environment. It boasts 18 USDT-settled contracts on various cryptocurrencies.

The user interface of the derivatives section of Vdollar Exchange is very classic and looks very familiar and easy to use like any other top crypto trading exchange such as Binance. It includes a cryptocurrency chart, orderbook, order menu with ‘Limit’ and ‘Market’ sections as well as a ‘Recent Trades’ list. 

Cryptocurrency chart module is powered by the world-leading resource TradingView, so that all crucial indicators as well as the candles/lines format of chart displaying can be customized in a couple of clicks.

Features 2: OTC 

‘Over-the-counter’ (OTC) desk is a way of exchanging crypto assets without an orderbook. Price for this or that crypto is determined by the seller and isn’t subject to automatically changing due to price swings. 

Typically, it is utilized by high-end traders to reduce the exposure to market volatility and mitigate the effects of ‘price slippage’, an unintended sharp price move triggered by high-volume trades.

OTC module of VDollar exchange is located in the upper left corner of its main page. In VDollar’s OTC section, various types of trades are available for Bitcoin (BTC), Ethereum (ETH), and U.S. Dollar Tether (USDT) owners.

Features 2: Swaps

In the ‘Swaps’ module, users can buy and sell perpetual contracts with Bitcoin (BTC) and Ethereum (ETH) as underlying assets. The U.S. Dollar Tether (USDT) stablecoin works as a settlement asset.

The value of one contract is 0.0001 Bitcoin (BTC) which is equal to $3.4 at printing time. This allows even newbie traders with small deposits to experiment with the opportunities provided by derivatives trading tools. 

‘Tick’ (step of price customization on VDollar) is set at 0.1 USDT while minimum price move required is 0.4 percent. Settlement cycle (minimum period of contract’s lifespan) is 60 seconds.

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.

VDollar Exchange Fees

Unlike many other crypto exchanges, VDollar does not have any fee for deposits made on VDollar exchange. However, a small or standard fees is applicable on withdrawl and trading. As compared with many other tier 1 exchanges such as Binance, KuCoin, Okex etc, the fee is quite low. Also, 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. To know full details of VDollar exchange fees click here.

Exchange/Margin Transaction fee rates:

  • Makers 0.2%
  • Takers 0.2%

Swaps transaction fee rates:

  • ​​​​​​​Makers 0.06%
  • Takers 0.04%

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.

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.

Verdict

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

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.