{"id":6245,"date":"2021-08-16T14:09:36","date_gmt":"2021-08-16T07:09:36","guid":{"rendered":"https:\/\/news.bitcoinvn.io\/?p=6245&lang=en"},"modified":"2024-05-13T07:42:14","modified_gmt":"2024-05-13T00:42:14","slug":"cash2vn-quarter-2-2021-review","status":"publish","type":"post","link":"https:\/\/bitcoinvn.io\/insights\/cash2vn-quarter-2-2021-review\/","title":{"rendered":"Cash2VN – Quarter 2 2021 Review"},"content":{"rendered":"

Vietnamese crypto remittance platform <\/span>Cash2VN<\/span><\/a> released its updated quarter 2 <\/span>usage statistics report<\/span><\/a>.<\/span><\/p>\n

<\/p>\n

While the majority of remittance volume is still conducted via the world\u2019s largest <\/span>USD-backed stablecoin Tether<\/span><\/a>, one of the more notable developments remains that <\/span>transfers via Litecoin<\/span><\/a> are almost matching the transfer volume via Bitcoin.<\/span><\/p>\n

One of the possible reasons behind this development might be, that especially for remittances\/payments of smaller amounts, the tendentially lower fees on the Litecoin Blockchain provide a competitive advantage over Bitcoin, which is more suited for highly secured, high value transactions.<\/span><\/p>\n

\"Transfer
Transfer volume by coin – Source<\/a>.<\/figcaption><\/figure>\n

\"Cash2VN<\/p>\n

Another interesting observation is the increasing shift in USDT volume from the ERC20 format to the cheaper SLP (<\/span>simpleledger<\/span><\/a>) format, which allows for essentially free transfers of USDT.<\/span><\/p>\n

When it comes to the actual number of remittances conducted, a maybe surprising discovery is that the majority of remittances into Vietnam is now <\/span>conducted via Bitcoin Cash<\/span><\/a>; even dethroning<\/span> Bitcoin<\/span><\/a> itself on that front.<\/span><\/p>\n

Given that BCH does not make up a very large portion of the overall volume (only slightly 10%), a possible assumption is that it is similarly like Litecoin used mostly for smaller value transactions.<\/span><\/p>\n

Tether, which makes up the relative majority of the actual remittance volume, comes in behind BCH, BTC, LTC in terms of numbers of transactions.<\/span><\/p>\n

\"The
The \u201cold school\u201d PoW coins Bitcoin, Bitcoin Cash and Litecoin make up close to three quarters of the remittances conducted.<\/figcaption><\/figure>\n

On a more cute sidenote:\u00a0<\/span><\/p>\n

Dogecoin<\/span><\/a> more than doubled the amount of remittances conducted via the Worlds\u2019 Memecoin number one – from 0.34% <\/span>in our last report<\/span><\/a> up to now 0.82% of all remittances.<\/span><\/p>\n

\"He\u2019s
He\u2019s coming for ya! Dogecoin remittances<\/a> on Cash2VN more than doubled in the past quarter.<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Vietnamese crypto remittance platform Cash2VN released its updated quarter 2 usage statistics report.<\/p>\n","protected":false},"author":11,"featured_media":6246,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,10549],"tags":[],"class_list":["post-6245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoinvn-business","category-featured-sub-panel"],"yoast_head":"\nCash2VN - Quarter 2 2021 Review - BitcoinVN Insights<\/title>\n<meta name=\"description\" content=\"Vietnamese crypto remittance platform Cash2VN released its updated quarter 2 usage statistics report.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bitcoinvn.io\/insights\/cash2vn-quarter-2-2021-review\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cash2VN - Quarter 2 2021 Review - BitcoinVN Insights\" \/>\n<meta property=\"og:description\" content=\"Vietnamese crypto remittance platform Cash2VN released its updated quarter 2 usage statistics report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bitcoinvn.io\/insights\/cash2vn-quarter-2-2021-review\/\" \/>\n<meta property=\"og:site_name\" content=\"BitcoinVN Insights\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/www.bitcoinvn.io\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-16T07:09:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-13T00:42:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/bitcoinvn.io\/insights\/wp-content\/uploads\/2021\/08\/cash2vn-quarter-2-2021-review-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"712\" \/>\n\t<meta property=\"og:image:height\" content=\"387\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"L\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@bitcoin_vietnam\" \/>\n<meta name=\"twitter:site\" content=\"@bitcoin_vietnam\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"L\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/bitcoinvn.io\/insights\/cash2vn-quarter-2-2021-review\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/bitcoinvn.io\/insights\/cash2vn-quarter-2-2021-review\/\"},\"author\":{\"name\":\"L\",\"@id\":\"https:\/\/bitcoinvn.io\/insights\/#\/schema\/person\/67269650987baa2568fb304df71bb1b2\"},\"headline\":\"Cash2VN – Quarter 2 2021 Review\",\"datePublished\":\"2021-08-16T07:09:36+00:00\",\"dateModified\":\"2024-05-13T00:42:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/bitcoinvn.io\/insights\/cash2vn-quarter-2-2021-review\/\"},\"wordCount\":312,\"publisher\":{\"@id\":\"https:\/\/bitcoinvn.io\/insights\/#organization\"},\"image\":{\"@id\":\"https:\/\/bitcoinvn.io\/insights\/cash2vn-quarter-2-2021-review\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/bitcoinvn.io\/insights\/wp-content\/uploads\/2021\/08\/cash2vn-quarter-2-2021-review-1.jpg\",\"articleSection\":[\"BitcoinVN\",\"Featured - 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