This is the June 2023 edition of the monthly report. This was previously exclusive to newsletter subscribers. Going forward, we will post the reports here too with a slight delay. We promise to keep you up-to-date on everything related to BitcoinVN, your favorite Cryptocurrency Exchange in Vietnam.

Business news

With the BTC price ranging between $25k and $31k, our exchange volume remained steady, short by only 1.6% compared to May.

Assets such as VND and all stablecoins still make up the minority of the deposit volume (40%), as well as the majority of the settlements (57%), indicating that our users still like to play it safe at this time.

Settle volume by asset type
Settlement volume by asset type, red = stable (fiat/stablecoins)

Staking updates

In the wake of BCH’s sudden price increase by more than 200% within the span of a few days, the nominal returns were cut in half, making way for XMR and DOGE in terms of APR.

Moreover, we have closed our Zilliqa and Avalanche staking vaults in a move to improve the overall quality of our staking options. Any staked ZIL and AVAX have been unstaked free of charge.

TikTok

In our never ending quest to grace the internet with our presence, we have decided to open up a TikTok account and – to our delight – quickly accumulated around 1000 followers. We didn’t buy them, we swear!

Follow us to support BitcoinVN on TikTok. Don’t worry, we will not be dancing or lip syncing anytime soon.

We’re kind of a big deal (with the foreigners)

We did a little demographic research based on user-provided data.

To summarize:

  • We are far more popular with expats (22% of exchange volume) than with the locals (12% of exchange volume).
  • Two thirds (66%) of our exchange volume is completely KYC-free.
  • Only half of the exchange volume originates from within Vietnam, indicating how much BitcoinVN is used for remittance purposes.

Bitcoin Conference Thailand

We will join the upcoming inaugural Bitcoin Conference Thailand in Bangkok on the 15th and 16th of July.

Our co-founder Dominik will take the stage, and a few other members should be scurrying around the venue as well. We’ll be happy to talk to you about Bitcoin and life in Vietnam in general.

You can grab your tickets here and if you make it, stop by for a chat at our booth!

Product updates

  • We have overhauled our Tron wallet infrastructure, resulting in you receiving your TRX and USDT (TRC-20) settlements in seconds instead of minutes.
  • We were told sharp edges are scary, so we made them more round on our user interface.
  • Many other small UX improvements.

That’s enough for now. Thanks for sticking with BitcoinVN!

RELATED ARTICLESMORE FROM AUTHOR