{"id":10483,"date":"2023-12-22T12:20:14","date_gmt":"2023-12-22T05:20:14","guid":{"rendered":"https:\/\/bitcoinvn.io\/news\/?p=10483"},"modified":"2024-12-22T18:27:38","modified_gmt":"2024-12-22T11:27:38","slug":"bitcoinvn-internal-balance-transfer-how-does-it-work","status":"publish","type":"post","link":"https:\/\/bitcoinvn.io\/news\/bitcoinvn-internal-balance-transfer-how-does-it-work\/","title":{"rendered":"BitcoinVN Internal Balance transfer – how does it work?"},"content":{"rendered":"

Okay, so you are interested in using the internal balance transfer feature of <\/span>BitcoinVN<\/span><\/a>.<\/span><\/p>\n

Be it convenience or cost-savings – <\/span>the reasons to make use of this feature are plentiful<\/span><\/a>.<\/span><\/p>\n

How to make an internal balance transfer?<\/b><\/h2>\n

\"\"<\/p>\n

    \n
  1. Pick on the right side the asset you would like to credit the recipient <\/span>(in the example shown: USD)<\/span><\/i><\/li>\n
  2. You can now either do a fresh deposit or use your existing BitcoinVN balance to settle the transfer <\/span>(pick your asset on the left)<\/span><\/i><\/li>\n
  3. Enter the email address of the recipient<\/span><\/li>\n
  4. Click \u201cSwap\u201d<\/span><\/li>\n
  5. \u2026and that\u2019s it.<\/span><\/li>\n<\/ol>\n

    In our example the recipient will receive 1,118.78 USD credited to their BitcoinVN account.<\/span><\/p>\n

    They can now use this amount to either transfer it out of the platform (we support all domestic banks)<\/a> or convert it to a <\/span>different asset supported by our platform<\/span><\/a>; available for instant withdrawal.<\/span><\/p>\n

    Can I use it without a BitcoinVN account?<\/b><\/h2>\n

    Yes, currently it is a requirement to have your own BitcoinVN account in order to conduct an internal balance settlement.<\/span><\/p>\n

    How fast is it?<\/b><\/h2>\n

    Instant!<\/span><\/p>\n

    The recipient will have the funds ready for use in their account with no further delay.<\/span><\/p>\n

    What are the fees?<\/b><\/h2>\n

    Initially the fees per transfer are set at 0.15% for a majority of assets on the platform, among them BTC, ETH and USDC.<\/span><\/p>\n

    Depending on the uptake we will be looking to offer a tiered solution up to free transfers <\/span>based on your user level with BitcoinVN<\/span><\/a>.<\/span><\/p>\n

    Let us know your feedback via Telegram, <\/span>Twitter<\/span><\/a> or our <\/span>support channels<\/span><\/a>.<\/span><\/p>\n

    Which coins\/tokens are supported?<\/b><\/h2>\n

    Any asset which can be stored on BitcoinVN is eligible for internal balance transfer.<\/span><\/p>\n

    Yes, the popular one\u2019s like Bitcoin, Ethereum and USDT (Tether) are part of it.\u00a0<\/span><\/p>\n

    *Note<\/strong>: Currently, BitcoinVN no longer supports VND balances on the exchange<\/a>, meaning you cannot transfer VND to an internal account.<\/em><\/p>\n

    Can you transfer to non-BitcoinVN users?<\/b><\/h2>\n

    Currently only active users on BitcoinVN are eligible to receive funds via the internal balance transfer feature.<\/span><\/p>\n

    Given demand, our team will be looking to expand the feature to send funds to any of your friends and contacts without the need of prior account creation on BitcoinVN.<\/span><\/p>\n

    In order to send somebody my BitcoinVN funds via internal transfer, they have to sign up first?<\/b><\/h2>\n

    Yes.<\/span><\/p>\n

    If appropriate, you can also utilize our <\/span>affiliate scheme<\/span><\/a> for their sign-up.<\/span><\/p>\n

    Please don\u2019t spam your affiliate link though!\u00a0<\/span><\/p>\n

    Only advertise our service where you think the recipient might benefit from becoming a member of our service.<\/span><\/p>\n

    Is the internal balance transfer feature just a scheme to keep more funds on the platform?<\/b><\/h2>\n

    It might indeed lead to more funds held on the platform, however, we will always encourage our user base to take self-custody of any significant amount of funds.<\/span><\/p>\n

    We have got the <\/span>tools ready to ship to our Vietnam-based client base<\/span><\/a> – and if you need more hands-on guidance, our <\/span>experienced team is ready to assist you with that as well<\/span><\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    Okay, so you are interested in using the internal balance transfer feature of BitcoinVN. Be it convenience or cost-savings – the reasons to make use of this feature are plentiful. How to make an internal balance transfer? Pick on the right side the asset you would like to credit the recipient (in the example shown: […]<\/p>\n","protected":false},"author":13,"featured_media":10485,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,10549],"tags":[],"class_list":["post-10483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoinvn-business","category-featured-sub-panel"],"yoast_head":"\nBitcoinVN Internal Balance transfer - how does it work? - BitcoinVN News<\/title>\n<meta name=\"description\" content=\"You are interested in using the internal balance transfer feature of BitcoinVN. 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