Having worked and co-organized a number of programs on digital assets & Blockchain with the Ministry of Justice of Vietnam, VCC Exchange is a new exchange in Vietnam that is receiving much attention from the community.
So what is VCC Exchange? What advantages does VCC Exchange have over other exchanges that have been launched in the market? How to use VCC Exchange? Let's find out with Coin98 through this article.
What is VCC Exchange?
VCC Exchange is a Blockchain-focused digital asset exchange based in Singapore. They position themselves not only as an exchange platform, but also as a fundraiser for the Blockchain startup community through IEOs and Incubators (incubators) programs for projects.
Review of VCC Exchange - VCC Review
Advantages
- Great liquidity: VCC exchange directly connects to Bittrex liquidity pools . This means that traders can enjoy the same trading volumes as Bittrex right on the VCC Exchange. This is also one of the big plus points of this floor.
- Easy to use interface: The first time I accessed and opened the trading interface of this exchange, I was quite impressed with the bright interface because it looked intuitive and simple. Easy to operate and does not cause confusion.
- Support services: VCC Exchange has a team to support both English and Vietnamese 24/7. Therefore, Vietnamese brothers can rest assured to use and be supported to deal with problems related to the floor.
- There is a preliminary on-chain analysis of the asset - A feature almost no exchange does at the moment.
- There are mobile apps for both iOS and Android.
Defect
- The KYC process can only be done on the phone .
- Previously, VCC Exchange supported VND deposit and withdrawal, but from April 3, 2021, VCC Exchange no longer has the ability to deposit and withdraw VND through banks , so new users will feel a bit inconvenient if they are not familiar with Stablecoins . like USDT.
- To support, you have to log in through Facebook , which is inconvenient because you must have a Facebook account, you can't log in anonymously.
Fees on VCC Exchange
Transaction fee
Basic Trading: Trading fees for BTC, ETH and USDT market pairs will be calculated at 0.20% of the trading volume. This fee can be reduced to as low as 0.088% based on the user's trading volume within 30 days. For details, please refer to the following table:
OTC Trading : For OTC exchanges, depending on whether you are a seller or a buyer, different fees apply.
- Seller: Free.
- Buyer: 0.1% of the transaction amount.
Deposit fee
Deposit fee: There is no fee for you to load into VCC Exchange.
Withdrawal fee: Each type of digital asset has its own withdrawal fee, you can see the fee for each coin in the withdrawal section (login required) here .
Instructions to register for an account on VCC Exchange
Preparation before registering for VCC Exchange
For the quick registration & KYC process, you should have the following documents ready:
- ID card or Passport.
- Commonly used email.
- Phone number.
- Google Authenticators App.
Step 1: Register an account on VCC Exchange
First, you access VCC Exchange at: https://vcc.exchange/
Then select Sign Up.
Here, you fill in all the information including:
- Personal Email Address.
- Personal phone number (optional).
- Password & Reconfirm Password.
- Enter referral code: xSU33r .
After filling in the information, click on the box " I agree…. " and select Register .
VCC floor will send a notice with a link to confirm the account via Email. Please check your email and click on that link to verify your registered email!
After VCC Exchange confirms the Email, click on Login , enter your Email and password.
Select Send code and check your email, enter the 6-digit code in the email in the New device verification code box , then click Send .
So you have completed the registration for an account on VCC Exchange!
Step 2: Identity Verification - KYC
KYC (Know Your Customer) is the process of collecting identifying information related to the customer of a certain service. The basic information that is usually collected is a portrait, ID number, passport, address, etc. The purpose of the KYC process is to remove unqualified people from using a certain service. . With different units, these standards may be different.
You can still make withdrawals/deposits and trades on VCC Exchange even without KYC, but your powers will be very limited. The maximum withdrawal is only 2 BTC/day if the account is not KYC. Therefore, you should KYC your account to receive the best support from the exchange.
To conduct KYC on VCC Exchange, point to the Account icon and select Verify identity .
However, VCC Exchange currently does not support KYC on the web version, you need to download the VCC Exchange app by scanning the QR code corresponding to your phone's operating system.
After downloading the application, click Sign in .
You enter your email and password , the system will send a confirmation code to your email. Then enter the confirmation code in the box to be able to log in.
You click on the personal information logo → Verify → You can choose Basic Verification, Advanced Verification or do both.
After you have filled in the information and uploaded the necessary documents, click the Submit button to send it to the VCC team for confirmation.
Step 3: Enable 2-step security 2FA
At this step, you can activate it on your phone or website.
- On the website: Click on the personal information logo → Account and security.
- On the phone: Click on the personal information logo → Security.
Here, I will guide you by website.
You can download and install the Google Authenticator app, or the Authy app .
Then you scan the QR code, or manually enter the code next to it in the " Enter the key provided ".
You backup the recovery code in case OTP is lost.
Finally, you enter your account's password, as well as the Google authentication code, and you're done.
Instructions for depositing, withdrawing, trading at VCC Exchange
Recharge
From the homepage of VCC Exchange, you choose Assets → Deposit Crypto as shown below.
Next, you choose the assets to load into the floor. Here I choose BTC as an example.
Finally, you choose the network to get the address, then copy the address to load Crypto into it.
Withdraw money
This withdrawal step is almost the same as depositing. But instead of Depositing Crypto , you choose Withdraw Crypto .
Then select the asset, paste the address, select the network and enter the quantity and you're done.
Buy and sell coins
To buy and sell Crypto, click Exchange → Basic Trading.
Then, you choose the asset you want to trade by typing in the search box, or choose directly below.
Types of orders to know when trading VCC Exchange
Limit Order - Limit Order: Limit Order allows users to manually set the buy/sell price they want. The limit order will only be executed when the market price reaches the previously set limit price.
Market Order: Allows you to quickly buy an asset at the time of placing an order. Usually trades on market orders will be executed immediately and always become the top priority in all pending orders.
Stop Limit - Stop Limit: This order will have 2 prices: Stop Price (Stop) and Limit Price (Limit). When the price has reached the stop price, the limit order will be immediately pushed to the order book and waiting for order execution.
Stop Market - Market Stop Order: This order will also have 2 prices: Stop Price (Stop) and Market Price (Market). When the price reaches the stop price, the market order will be triggered and executed immediately.
Trailing Stop: Allows you to cut your loss flexibly, this order is like a dynamic Stoploss that moves in the same direction as the order trend, for example: When your order is profitable, you can set a Trailing Stop. and the price will always move higher by a certain number of pips when your BUY order is profitable, otherwise it will go lower if the Sell order is profitable.
Other trading instructions on VCC Exchange
OTC Trading
You can create ads about orders you want to buy or sell here. However, to use this feature, you need to authenticate the 2-factor security method, which is the Phone Number.
To open OTC orders , you choose Crypto Trading → P2P Trading .
Then, you choose the assets to buy and sell, below will be the orders that are being opened by others so you can connect with them.
After choosing a suitable seller or buyer, click on it, specific information will appear next to it.
After checking the information, you choose the Payment method, enter the amount to buy or sell, then confirm.
Leverage trading
Currently, this feature is not implemented yet.
Direct trading
This feature will help you create buy and sell orders directly with any person.
Click on Exchange → Live Trading .
You select the asset to trade, enter the necessary information, then click buy / sell to complete.
Instructions for using additional features on VCC Exchange
Check Assets On-chain Data
On-chain data is data located on Blockchain, you can understand Blockchain as blockchains that are linked together and hold data. This is an interesting feature, because this data can only be obtained from websites that specialize in data analysis, but no brokers do it yet.
To check the On-chain situation, click News & guides → Status and technical analysis .
You select the property you want to see on the left by typing in the search box, or choose directly below.
The specific information of this property will then appear on the right.
Get the VCC Exchange ref link to introduce
To get the referral code or ref link, click on the personal information logo → Commission program .
You can choose QR code , referral code , or referral link for friends.
On the right is information about the number of people referred, current benefits, etc.
Frequently asked questions about VCC Exchange
Is VCC Exchange reputable?
VCC Exchange is headquartered in Singapore and is run by a Vietnamese team.
From the beginning of 2019 until now, you can see how their marketing goes directly to major programs and events related to a number of ministries such as the Ministry of Justice of Vietnam. This shows that the floor also has a certain trust with the departments.
In addition, VCC Exchange is also receiving the investment of a number of large funds such as Signum Capital, Axiom Associates. Besides, VCC also has a number of other partners such as Kyber Network, Tomochain, SotaTek, Aelf...
So it can be said that VCC Exchange is also worth putting in the list of Vietnamese exchanges worth trading
The exchange has never been hacked or questioned since its launch, so VCC Exchange also has a fairly high reputation.
Which country's VCC Exchange? Does VN support?
VCC Exchange is a Vietnamese cryptocurrency exchange, founded and operated by a Vietnamese team. The exchange is based in Singapore.
What is VCC Exchange coin?
Currently, VCC Exchange does not have any exchange coins. Maybe in the near future, the exchange will release their own exchange coin. When there is an official announcement, I will update the article for you.
Do I need KYC to withdraw money from the exchange?
You can withdraw coins without KYC. But the withdrawal is limited. In order to withdraw more, KYC will be more convenient to trade.
What is the withdrawal limit on VCC Exchange?
With a non-KYC account, users can withdraw 2 BTC per day. But if already KYC, can withdraw up to 80 BTC per day.
Does VCC Exchange have an app on Android and iOS?
Have. You can go to the following official links to download the application to your device:
summary
More and more exchanges, which means that you have more options to participate in the Crypto market. Recently, there have been consecutive hacks, scams, or scams from exchanges. That shows that the floors are always the target of the bad guys.
Therefore, whenever it comes to the floor, I always advise you to choose the floor according to the criteria of prestige, good security, clear information, ... then the features or preferential programs.
Read more: 05 criteria for choosing a reputable cryptocurrency exchange
VCC Exchange is an exchange worth considering to join. Trading, withdrawing and depositing VND right on the exchange, good floor fees, as well as a transparent operation team and company are factors for you to trust. Hopefully, the last article has helped you understand the basic information you need about VCC Exchange.
If you have any questions, feel free to comment at the end of the article. I and the cryptobnb team will answer you as soon as possible.
