VDollar Review (2021): Professional Cryptocurrency Trading Exchange

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VDollar is a relatively small cryptocurrency exchange. It does some things very well — such as basic crypto trading and initial exchange offerings (initial coin offerings that are safer for investors) — and some things not at all. Though U.S. investors can easily access the VDollar platform, make sure your state allows full access. Read our full VDollar review to see if this crypto exchange is right for you.

VDollar has a Wide Range of Coins, Trading, and Mining, Swap, OTC and Leverage Trading features.

VDollar Pros & Cons

ProsCons
Both high and low trading volumes supportedLimited options for customer support
Offers margin trading and swap trading servicesLimited cryptocurrencies for trading
100% transaction fee is used as the user’s underlying asset. Less Popular
Trading Mining doesn’t use electricityFew Language Support

VDollar’s native token, VDollar, provides a lot of value

To deliver an entirely new tokenomics model and ensure a fair sharing of profits with its community, VDollar exchange issued VDollar Coin (VD), a one-of-a-kind core native utility asset.

Overview

VDollar (VD) is a backbone of VDollar exchange tokenomics. It is correlated with the processes of transactional fee collection. 100% of VDollar’s transaction fees go to the URP (USDT Reserve Pool) which is transparent and can be verified on-chain.

VDollars minting process is pegged to URP value dynamics to ensure that each VDollar is anchoring a solid underlying asset. At the same time, the maximum supply of VD is limited and can’t exceed 10,000,000 VD. 

To guarantee the deflationary character of VD, its supply is periodically halved (one supply reduction for every ‘Super Representatives’ term).

Why choose VDollar? 

VDollar exchange is creating a new mining mechanism. It is the first decentralized cryptocurrency exchange that builds the currency value by backing it with transaction fees as its underlying asset. All its transaction fees are put into the USDT Reserve Pool (URP) as it is the underlying asset that gives VDollar its value. 

In order to maintain consistent value flow, each VDollar is pegged to the URP. Additionally, the IPO will be issued with 1:1 correspondence with the URP. It is implemented to ensure that each VDollar is anchoring a solid asset. 

VDollar wallet is available for download on Android as well as iOS devices. With the wallet, users can see real-time cryptocurrency prices and a chart with different indicators available. The application is user-friendly so that both beginners and experienced traders can enjoy using it. VDollar assistant is available 24/7 to solve all the user queries.

Assets supported

The list of supported assets should be treated as the ‘killing feature’ of the VDollar trading engine. Normally, services of such types support Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and XRP while U.S. Dollar Tether (USDT) is utilized as a settlement asset.

The derivatives trading suite of VDollar looks way more impressive. Besides the full list of cryptocurrency behemoths (Bitcoin, Ethereum, XRP) and their most notable forks (Litecoin, Bitcoin Cash, Bitcoin SV, Ethereum Classic, Dogecoin, and so on), it boasts top-notch DeFi assets such as Chainlink (LINK), Yearn.Finance (YFI), Uniswap (UNI), DFI.Money (YFI) and others.

Additionally, it offers plenty of Proof-of-Stake (PoS) and Delegated Proof-of-Stake (DPoS) tokens like Eos (EOS), Tron (TRX) and Cardano (ADA), exchange utility asset Huobi Token (HT),  cryptocurrency veterans OMG Network (previously OmiseGO, OMG), Dash (DASH), Filecoin (FIL), Aelf (ELF) and Status (SNT).

Following the increased demands for memetic coins, VDollar listed the contracts on Shiba Inu Coin (SHIB), one of the most significant and overhyped representatives of this segment. 

All of the assets are available for contracts trading while for BTC, ETH, FIL, DOGE, BCH, TRX, EOS, LTC, YFII, and SHIB, 3x leveraged margin positions are available in the ‘Margin’ section.

Security

Various VDollar reviews report that the platform uses an Advanced Encryption Standard (AES-256) algorithm to secure its wallets. More so, the databases holding account passwords are said to be encrypted with Salted SHA-256.

For the security of funds, the platform holds the exchange private keys – being a centralized exchange, and holds all users’ funds either in a hot or multi-sig cold wallet accessible by the team. Funds stored on exchanges puts users’ assets in the cross-hairs of malicious actors such as hackers, as cryptocurrency exchanges are oftentimes their targets. 

Users can further protect their accounts and prevent third-party access by setting up email and phone verifications, as well as a google app authenticator.

VDollar Exchange 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%.

Exchange/Margin Transaction fee rates:

  • Makers 0.2%
  • Takers 0.2%

Swaps transaction fee rates:

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

OTC Fee rates: Temporarily Free

Deposit fees: No charge

Withdrawal fees: By industry practice, mainly used for miners’ expenses, they are not        involved  in transaction mining.

A perfect exchange for all your trades

While there is no dearth of crypto exchanges and trading platforms, only a small percentage of them have created an entire ecosystem around it. VDollar stands apart from them by creating a unique token issuance and reward mechanism that offers real value to its user base. Unlike Binance and its native BNB tokens, the VDollar token is issued only to those who actively trade on the platform. Further, each VD token is backed by real assets in the URP and the token distribution is designed to encourage appreciation in value over time.

The VDollar ecosystem maintains transparency throughout the token generation and distribution process and the tokens thus earned can be used to pay 100% of the transaction fees on the platform. Meanwhile, VD maintains a maximum cap of 10 million tokens, which is a lot less than those of its counterparts, which combined with the diminishing output will create favorable market dynamics that could drive adoption and encourage more users to switch to VDollar.