VBTC Vietnam Co. Ltd. and Coinarch Pte. Ltd. announce launch of Vietnam’s first Bitcoin leverage trading platform
Interesting news in regards to the expansion of bitcoin across the world comes in the fashion of expansion through Vietnam. VBTC Vietnam and Coinarch Pte announce that they will bring upon Vietnam, the first live bitcoin trading platform. This platform will be named VBTC plus, and it will offer advanced trading tools to Vietnam.
The cooperation between VBTC Vietnam and Coinarch is one that makes much sense due to the high level of expertise offered by both of them. VBTC, having experience in the domestic market while Coinarch is led by a very good team with expertise in financial markets and high-end technology. Hopefully, the introduction of an advanced trading platform into Vietnam works as a way to expand knowledge regarding bitcoin across the country.
Users of VBTC plus will be able to open or close positions with up to 8x leverage which is quite high for a country being introduced to bitcoin. However, the companies involved have stated that they will release advanced trading products in the near future in order to increase bitcoin use in the Vietnamese market.
Bitcoin is used due to the dire need of decentralization in countries. However, security has been an issue as we have seen people lose bitcoins to fraudulent companies and individuals dedicated to hacking these. Therefore, VBTC plus will have some security features enabled to assure the security of their trading platform. Some of these include:
- Google 2-Factor-Authentication
- HTTPS & PFS encrypted communication
- Multi-level Cold Storage Bitcoin protection system
Jermey Glaros, CEO of Coinarch had this to say regarding the partnership:
“Today’s partnership announcement is a really exciting development for Coinarch and one we are thrilled to have brought to fruition. We have great respect for Phuong and the VBTC team and love what they are doing for bitcoin in Vietnam. The chance to work with the leading bitcoin company in one of the most exciting bitcoin markets in the world is one we grasped with both hands.“
It is definitely great to see Bitcoin’s expansion through the world, and this partnership will push towards the goal for global acceptance.To create a live trading platform in Vietnam should be one that interests many people who have not been offered this chance. Not only this, it should open opportunities to new investors who have not been able to invest due to their country’s limitations.
Image Source: VBTC team