VDollar Expert Review by Experts: Says has lower trading fee and good for beginners

Everyone seems to want cryptocurrency these days. But to get in on the action, you’ll need a crypto exchange where you can buy and sell digital currencies, like Bitcoin, Ethereum and Dogecoin.

To help you pick the right one, Our Experts Advisors combed through the leading exchange offerings, and reams of data, to determine the best crypto exchanges. All of these, however, come with one caveat: Cryptocurrencies are speculative investments and should only be made if you’re willing to accept wild price swings and a decent risk of losing everything.

Today we are going to review one of the most reliable and reputable exchange i.e. VDollar.io

VDollar: Company, Origin, and Unique Mining Mechanism 

VDollar is the US-based cryptocurrency contracts exchange. The company VDollar Exchange LTD is registered in Colorado, USA. More than that, the company has the MSB (Money Services Business) registration and is under the US Financial Crimes Enforcement Network. It means that the platform is legit and is subjected to regular audits.

The VDollar ecosystem has three components (each one has its own website): an exchange (vdollar.io), a crypto wallet, and a cryptocurrency — all of the same name. VDollar’s motto and main working principle read “trading is mining”. In practice, it means that all the transaction fees collected by VDollar are sent to the USDT Reserve Pool. These fees converted to Tether serve as an underlying asset for the network. VDollar coins are pegged to the Reserve Pool. Please note that trading mining doesn’t have much common with mining via processors or ASIC miners. You don’t have to mint coins or crack math puzzles via a mining rig of 6 GPUs. Coins are emitted via trading fees you pay. That’s it.

According to the project’s white paper, in the first issuance, 4.5 million VDollars will be released. In the second phase, there will be issued 2.25 million, and so on. In general, 10 million VDollars will be issued and every following phase will have as twice as smaller an issuance cap as the previous. This scheme allows you to earn money while trading as the trading fees you pay will gain value and you will be able to participate in the company’s IPO and earn some money. The more you trade the bigger your share. The info about the destination of the fees you pay can be verified as the addresses are publicly available. For the first issuance, 1 VDollar is mined when you pay fees equivalent to 1 USDT. The USDT equivalent of each VDollar will be increasing in each phase. In the second phase, each VDollar is going to cost 2 USDT, etc. The value will correspond with the smaller issuance of coins.

What Makes VDollar Unique?

VDollar is a crypto currency contracts exchange, Crypto contracts exchanges are digital platforms (websites and applications) where the contracts for differences on Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies can be traded. The exchanges are responsible for ‘know-your-customer/anti-money-laundering’ practices, due diligence policy and fair payouts to clients.

Crypto contracts exchanges offer their clients to trade contracts with leverage. It means that traders can add borrowed funds to their positions. Say, when leverage is set at 5x, a 10-percent price move (in both directions), results in a 50% gain or loss.

For buying/selling contracts, exchanges charge users with small fees proportionally to the size of the opened position.

Trading on VDollar: OTC, Swaps and Margin Trades

The exchange and trading platform in the VDollar ecosystem enables users to trade more than 20 most popular crypto assets including BTC, ETH, DOGE, XRP, LINK, BCH, ADA, DASH,LTC, EOS, SHIB and the project’s own namesake VD tokens. The trading platform sports multiple trading products designed to meet the needs of different types of traders. Users on the platform can either choose to simply exchange one crypto to another or indulge in OTC trades, Swaps or Margin trades.

On VDollar OTC trading product, users can purchase crypto using crypto or any of the 15 supported fiat currencies. Meanwhile, Swaps on VDollar are available in Netting and Hedge modes at up to 20x leverage and uses USDT as the settlement currency. The list of supported trading pairs on Swaps include BTCUSDT,BTCUSD, ETHUSDT, ETHUSD, FILUSDT, and DOGEUSDT.

Margin trading on the platform comes with up to 3x leverage on 10 different crypto/USDT trading pairs viz, BTC, ETH, FIL, DOGE, BCH, TRX, EOS, LTC, YFII and SHIB.

Users on the VDollar trading platform always have the market data at their fingertips, thanks to highly customizable, real-time charts. The charts are accompanied by analytical tools that can be readily used for market analysis before making and executing the trading decision on the same window.

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.

‘Super Representatives’ initiative

The VDollar service has gathered a large and passionate community around its product. To let its users monetize their social exposure, the VDollar team launched a number of promo campaigns focused on social marketing.

First, a user with a large social media influence on different platforms, can request a unique Traffic Monetizing Link (TML) to publish it on his/her resources or blogs. 

Once the link is generated, any user who clicks on it or on an associated QR code will be linked to a TML owner’s ID. Depending on the actual number of users clicked and their net transactional volume on VDollar, the rebate rate (from referral’s position aggregated value) can be either 0.15 percent or 0.2 percent. 

‘Invite Rebate’ initiative looks more simple and suitable for the majority of users. When a VDollar trader invites a new user to the exchange, the inviter will get a 0.05 VDollar (VD) rebate from the VDollar platform for every 1 USDT processed by his/her invitee. This promotion lasts forever and has no limits in terms of periods and payouts.

The most experienced influencer with a large audience across major social media platforms can apply for the ‘Super Representative’ status. 

All ‘Super Representatives’ are elected by the community. The number of their seats is always limited to 32. To be elected, a user needs to pass the entire set of KYC/AML-checks and to verify the ownership of a sufficient audience. Voting days are announced in advance while every referendum lasts for 24 hours only. 

For every VD mined by their subordinates (see below), their ‘Super Representatives’ receive a 0.25 VDollar bonus. Every referendum is designed to lay off eight out of 32 ‘Super Representatives’.

***To become “Super Representatives” click this link and fill up the form

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%.

Is VDollar Safe?

Safety is a crucial characteristic of any cryptocurrency-related platform. Many cybercriminals exploit the vulnerabilities of exchanges, wallets, and other platforms to steal users’ money and data. 

We have already mentioned that VDollar is a licensed platform as it’s registered as MSB and is accountable to the US Financial Crimes Enforcement Network. It means that the company behind VDollar cannot jeopardize the data and funds of its users. More than that, it means that VDollar is not a scam enterprise. It is hard for a cryptocurrency exchange to get registered in the US. The fact that VDollar managed to do that means that it’s a legit and trustworthy platform.

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