As 2024 looms, the team of BitcoinVN – Vietnam’s prime Bitcoin & Cryptocurrency Exchange (launched in 2014) – keeps upgrading its infrastructure.
One part of our more recent upgrades concerns the Avalanche ecosystem:
Users of AVAX (Avalanche) are now able to move directly from AVAX and AVAX (c-chain) into Vietnamese Dong and vice versa.
All Vietnamese bank accounts are supported, as well as a variety of cash pick-up options.
Converting AVAX into Vietnamese Dong or any other asset on the platform is especially convenient:
No sign-up is required and no order size limits apply.
Avalanche in its fifth year
While being denounced as “professor coin” due to its association with former Cornell associate professor Emin Gun Sirer, a long-time Blockchain advocate, and being stained as one of the favored investments by Three Arrows Capital Directors Su Zhu and Kyle Davies, one has to acknowledge that this coin has found its fan- and user base, resulting in a solid establishment in the Top 10 cryptocurrencies globally.
Speculators knew to rejoice in the fall of 2023 when AVAX almost reached its yearly high measured in Bitcoin and was for a few short weeks the strongest performing “large cap altcoin” in the global crypto markets.
However, AVAX still has a long way to go to recover from the utter destruction in May/June 2022 when Three Arrows Capital was forced to liquidate their large positions into the market in the ultimately unsuccessful quest to save their fund.
Certainly to note is that Avalanche serves currently as the 5th largest transfer network for the world’s favourite stablecoin Tether with a high likelihood to climb onto rank four within this year.
BitcoinVN accordingly decided to include support for USDT (Tether) transfers via the Avalanche Network – which can be bridged instantly and without the need to sign-up to the platform.
Alongside the changes in regard to the Avalanche infrastructure on BitcoinVN, AVAX has also been granted its own staking vault in the BitcoinVN staking program.
Avalanche investors will be able to park their AVAX with BitcoinVN in order to provide liquidity to AVAX-related swap activity.
AVAX stakers will be rewarded with a cut of the swap fees generated by the platform.