Due to a steadily increasing usage of Bitcoin Cash on BitcoinVN the team of BitcoinVN decided to enlarge the BCH vault size.
Vaults on BitcoinVN allow users to provide liquidity to the swap service, and earn a share of the exchange volume of the staked asset.
BitcoinVN is Vietnam’s oldest Bitcoin Exchange service which launched in early 2014. Currently, it allows for deposits and withdrawals in Vietnamese Dong as well as withdrawals into Russian Ruble.
BCH has been holding pretty steadily its second rank in terms of volume among all cryptocurrencies available on the platform, and even outperforming Ethereum in terms of usage.
As such the users who staked BCH have been enjoying an APR of beyond 50% for the past couple of months.
While the APR might decline as more investors stream into sBCH (capped at 200 BCH), the current comparatively low digital asset prices and high APR might make for an interesting portfolio addition with limited downside risk.
Additional upside in the APR might be provided if BitcoinVN can continue its growth path while additional BCH usage on the platform occurs.
For who sBCH on BitcoinVN might be an interesting diversification:
- Traders who believe the market is close to the bottom and believe $BCH will outperform in the next upswing
- People who “long Bitcoin Cash” in any circumstance and want to fetch additional yield on their position
- People who understand counterparty risk and manage their portfolio accordingly
