{"id":10261,"date":"2023-12-07T00:30:27","date_gmt":"2023-12-06T17:30:27","guid":{"rendered":"https:\/\/bitcoinvn.io\/news\/?p=10261"},"modified":"2026-05-30T20:13:02","modified_gmt":"2026-05-30T13:13:02","slug":"monthly-report-11-2023","status":"publish","type":"post","link":"https:\/\/bitcoinvn.io\/insights\/monthly-report-11-2023\/","title":{"rendered":"Monthly Report 11-2023"},"content":{"rendered":"<p>Welcome to the November 2023 edition of our Monthly Report, where we keep you updated on BitcoinVN, your premier Bitcoin &amp; Cryptocurrency Exchange in Vietnam.<\/p>\n<h2>\ud83d\udcc8 Business news<\/h2>\n<p>November marked another month of bullish sentiment, with the BTC price climbing from $34k to nearly $39k.<\/p>\n<p>Our exchange volume experienced a slight decrease of 12% compared to the previous month, yet we still surpassed September&#8217;s performance.<\/p>\n<h3>\ud83c\udfe7 More infrastructure for the unbanked &#8211; Cash Office Hu\u1ebf &amp; Bitcoin ATM network<\/h3>\n<p>At BitcoinVN, we take building infrastructure for the unbanked seriously.<\/p>\n<p>Dealing with traditional banks can be a hassle, a fact our team members know all too well; some have even opted to go completely unbanked.<\/p>\n<p>It is a personal mission for us.<\/p>\n<p>As such, we are happy that November brought about the official opening of our Cash Office in Hu\u1ebf, the former capital of Vietnam.<\/p>\n<p>Furthermore, our Bitcoin ATM operations have expanded to <a href=\"https:\/\/bitcoinvn.io\/insights\/new-bitcoin-atm-location-in-district-7\/\">District 7<\/a> in Ho Chi Minh City.<\/p>\n<p>Although our popular El Gaucho location in District 2 is temporarily closed for renovation, we plan to reopen after the Vietnamese Lunar New Year celebrations in early 2024!<\/p>\n<h3>\ud83d\udcb8 USDT dethrones VND<\/h3>\n<p>Due to various partner <a href=\"https:\/\/bitcoinvn.io\/integrations?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=Monthly+Report+11-2023\">integrations with our API<\/a>, <strong>USDT is now the most deposited asset<\/strong> on BitcoinVN, relegating the local currency, VND, to second place.<\/p>\n<p>However, 93% of these USDT deposits are converted into VND.<\/p>\n<h4>Top 10 deposit assets<\/h4>\n<p><img decoding=\"async\" src=\"https:\/\/i.imgur.com\/FILzZe6.jpg\" alt=\"Top 10 deposit assets chart for BitcoinVN in November 2023\" \/><\/p>\n<h3>\ud83d\udfe0 Crypto-to-crypto swaps gaining traction<\/h3>\n<p>Since introducing crypto-to-crypto swaps in 2021, they have gradually increased their share of our exchange volume, now accounting for about 10%.<\/p>\n<p>A significant portion of this volume involves swaps with XMR, boosting staking returns to nearly 50%.<\/p>\n<h4>Monero APR<\/h4>\n<p><img decoding=\"async\" src=\"https:\/\/i.imgur.com\/UxCO8ws.jpg\" alt=\"Monero APR chart showing staking returns near 50%\" \/><\/p>\n<p>Given their focus on privacy and security, Monero users generally prefer not to give up custody of their coins, even with such attractive returns.<\/p>\n<p>For this reason, there is little downward pressure on the APR, making it more profitable for those willing to take the risk.<\/p>\n<h2>\ud83c\udd95 Product updates<\/h2>\n<ul>\n<li>We&#8217;ve removed the requirement to submit a phone number for cash pickup settlements. Simply talk to us via the chat widget on the order page.<\/li>\n<li>Added login options via Google and Telegram.<\/li>\n<\/ul>\n<p>That&#8217;s all for now. See you in our next update!<\/p>\n<p>Your BitcoinVN Team<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BitcoinVN&#8217;s November 2023 monthly report covers new cash and BTM infrastructure, USDT deposit growth, crypto swaps, product updates, and market momentum.<\/p>\n","protected":false},"author":11,"featured_media":10262,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10549,10441],"tags":[],"class_list":["post-10261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured-sub-panel","category-monthly-report"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Monthly Report 11-2023 - BV Insights<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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