Vietnamese discussion on our local threads. Talk in English, self-moderated. - page 2.

Woz2000

jr. member

Activity: 85

Merit: 2

Thanks. Yes I am looking for daily liquidity of at least 1 BTC and preferably more between VND and ETH (or USDC).

Quote from: Crypto Carabao Group on August 24, 2020, 07:39:00 PM

Quote from: Woz2000 on August 23, 2020, 10:07:24 PM

Hi all. I am American living in US and I have a question regarding VND. I know the quoted post is talking about decentralized exchanges, etc. My question is, are there any exchanges in Vietnam that a local business in Vietnam with a bank account can set up an account and trade ETH or USDC? There has to be liquidity and volume so that the trading prices are not absurd. Thanks.

It's just a guess, because we don't trade there or any centralized exchange, but only Binance seems likely to get the liquidity you are implying:
https://www.binance.com/en/blog/421499824684900366/Binance-Adds-PeertoPeer-P2P-Trading-for-Vietnamese-Dong-VND-

Crypto Carabao Group

member

Activity: 93

Merit: 28

"Don't steal! Your governments hate competition!"

Quote from: Woz2000 on August 23, 2020, 10:07:24 PM

Hi all. I am American living in US and I have a question regarding VND. I know the quoted post is talking about decentralized exchanges, etc. My question is, are there any exchanges in Vietnam that a local business in Vietnam with a bank account can set up an account and trade ETH or USDC? There has to be liquidity and volume so that the trading prices are not absurd. Thanks.

It's just a guess, because we don't trade there or any centralized exchange, but only Binance seems likely to get the liquidity you are implying:
https://www.binance.com/en/blog/421499824684900366/Binance-Adds-PeertoPeer-P2P-Trading-for-Vietnamese-Dong-VND-

Woz2000

jr. member

Activity: 85

Merit: 2

Thanks. I already looked at Remitano and Paxful. They don't look viable at all in terms of volume Are there just not enough Vietnamese interest in crypto or are they getting coins through other means?

Quote from: tranthidung on August 24, 2020, 12:14:36 AM

In Vietnam, there are a few exchanges for you but the most popular one is Remitano. It is the page for ETH trading to Vietnamese dong. ETH on Remitano. You have to go through their KYC and set up your bank account details for your Remitano account. You are only allowed to set up bank account details that match with your personal name that you use to register and verify your Remitano account. I mean you can set up 1 or multiple bank accounts as long as your names in bank account and in Remitano account matches each other.

Remitano has its disadvantage: Fees and huge gaps in sell and buy order price. Locals don't like that.

Paxful is a cool one but it does not allow to set up bank account in Paxful account.

There are a few other exchanges for you:

tranthidung

legendary

Activity: 2310

Merit: 4085

Farewell o_e_l_e_o

Quote from: Waldschrat2 on August 01, 2020, 12:35:27 AM

Thanks for your dedicated and hard work on this!

You're small hero for these efforts on behalf of the Vietnamese Bitcoin Community!

Nice surprise when I came watching out for the thread, since... look what've got here:

https://bitcoinsaigon.org/sats-bitcoin-merchants-directory-saigon

Thank you for your words and the information. It is a challenge to build up something from scratch and there are not many reputable members from local areas on the forum. Let's see how it goes gradually.

Quote from: Woz2000 on August 23, 2020, 10:07:24 PM

Hi all. I am American living in US and I have a question regarding VND. I know the quoted post is talking about decentralized exchanges, etc. My question is, are there any exchanges in Vietnam that a local business in Vietnam with a bank account can set up an account and trade ETH or USDC? There has to be liquidity and volume so that the trading prices are not absurd. Thanks.

In Vietnam, there are a few exchanges for you but the most popular one is Remitano. It is the page for ETH trading to Vietnamese dong. ETH on Remitano. You have to go through their KYC and set up your bank account details for your Remitano account. You are only allowed to set up bank account details that match with your personal name that you use to register and verify your Remitano account. I mean you can set up 1 or multiple bank accounts as long as your names in bank account and in Remitano account matches each other.

Remitano has its disadvantage: Fees and huge gaps in sell and buy order price. Locals don't like that.

Paxful is a cool one but it does not allow to set up bank account in Paxful account.

There are a few other exchanges for you:

Woz2000

jr. member

Activity: 85

Merit: 2

Hi all. I am American living in US and I have a question regarding VND. I know the quoted post is talking about decentralized exchanges, etc. My question is, are there any exchanges in Vietnam that a local business in Vietnam with a bank account can set up an account and trade ETH or USDC? There has to be liquidity and volume so that the trading prices are not absurd. Thanks.

Quote from: tranthidung on July 15, 2020, 11:16:57 AM

Quote from: Crypto Carabao Group on July 12, 2020, 09:21:06 PM

Which decentralized, non-custodial exchanges are used by Vietnamese to trade BTC<>VND online?

There is no decentralized and non-custodial exchanges to directly trade BTC to VND, as far as I know of. It is already difficult to find truly decentralized exchanges so that having one at least to trade BTC to local fiat is zero.

Fortunately, there are some exchanges (or also called as P2P - peer-to-peer marketplaces) that you can check and use after your investigations.

*: See

All in all, they are not decentralized and not non-custodial so that you can not have full control of your Bitcoin wallets and your funds. Your funds are on the hands of exchange/ marketplace owners and this is a big risks. They can scam you or whatever to steal your funds.

BTW, it is wisely to avoid storing your funds in BTC or whatever crypto on exchanges or marketplaces. What you should do to be your own bank and to be safe is:

Storing your funds in non-custodial wallets, back it up in multiple places, under multiple formats. Testing your backups to make sure you back it up completely correct, without typos.
Only send your funds to exchanges/ markeplaces to cash out and withdraw as instantly as possible.

Maestro75

sr. member

Activity: 1960

Merit: 329

Quote from: Waldschrat2 on April 11, 2020, 09:12:42 AM

Therefore... - would be happy if this thread helps to find a few more local folks who are interested in Bitcoin beyond seeing it just as a way to "quick riches" and screwing over your fellow people in the process as manyfold & fast as possible.

I appreciate the effort of the OP in putting this thread up to help gather bitcoin users from Vietnam here. Beyond this too, am thinking it is a good idea to have every poster on the forum to belong to a local group since charity begins at home, and then spring out to general groups and threads. This will help us all discuss ways to help spread bitcoin awareness to our various countries and it can bring about th mass adoption will seek.

Waldschrat2

full member

Activity: 264

Merit: 135

Quote from: tranthidung on July 27, 2020, 09:45:48 AM

Quote from: hilariousandco on July 27, 2020, 08:42:40 AM

I re-opened the original thread. Please report any spam or abuse that's going on in there if it happens again.

Wow. Much thanks and honestly said, I don't expect such thing that happens sooner than what I expected.

I am going to do my works to keep that thread as clean as possible and of course I expect Vietnamese have already learned their past (years ago) stupid activities and change, improve then show how better they are now.

A good day for Vietnamese community. Thanks! Cheesy

Thanks for your dedicated and hard work on this!

You're small hero for these efforts on behalf of the Vietnamese Bitcoin Community!

Nice surprise when I came watching out for the thread, since... look what've got here:

https://bitcoinsaigon.org/sats-bitcoin-merchants-directory-saigon

tranthidung

legendary

Activity: 2310

Merit: 4085

Farewell o_e_l_e_o

Quote from: hilariousandco on July 27, 2020, 08:42:40 AM

I re-opened the original thread. Please report any spam or abuse that's going on in there if it happens again.

Wow. Much thanks and honestly said, I don't expect such thing that happens sooner than what I expected.

I am going to do my works to keep that thread as clean as possible and of course I expect Vietnamese have already learned their past (years ago) stupid activities and change, improve then show how better they are now.

A good day for Vietnamese community. Thanks! Cheesy

Quote from: GeorgeJohn on July 26, 2020, 01:08:34 AM

...

From your post history, I think you are from African nation so why do you join here? Did you mistakenly post it here? Cheesy

hilariousandco

global moderator

Activity: 4018

Merit: 2728

Join the world-leading crypto sportsbook NOW!

I re-opened the original thread. Please report any spam or abuse that's going on in there if it happens again.

GeorgeJohn

hero member

Activity: 1652

Merit: 723

Enjoy 500% bonus + 70 FS

Hello greets to everyone
I'm George john
Am new here,I just want to learn basic things in btc,
Please I really need someone direction

Crypto Carabao Group

member

Activity: 93

Merit: 28

"Don't steal! Your governments hate competition!"

Quote from: tranthidung on July 17, 2020, 09:26:44 PM

People need to have somewhat obligatory law enforcements to move to decentralized exchanges. They need to have reasons to spend their decent time to learn and practice using decentralized exchanges.
...
These are common lack of knowledge.

Quote

Why and how did you conclude that it was worth a decent amount of your time to learn about these issues on the forum?

I learned a lot here, technically and it is why.

Do you mean that they need to be prosecuted or otherwise harmed, before they have a reason to move from the exchanges you listed?
Is being scammed or knowing they can be scammed as others have been, not enough reasons to look for a safer way?

Why did you learn all you know about it here, if you also had no reason to learn it, and could have just ignored it as they do?

tranthidung

legendary

Activity: 2310

Merit: 4085

Farewell o_e_l_e_o

Quote from: Crypto Carabao Group on July 17, 2020, 07:21:42 PM

Thanks, for the comprehensive answer; it's consistent with our experience in other markets; the general ignorance worldwide regarding such matters is very high, and will come back to haunt the ignorant once local governments collect enough data to use against them ex post facto.
10,000 early users of Coinbase can testify to that.

People need to have somewhat obligatory law enforcements to move to decentralized exchanges. They need to have reasons to spend their decent time to learn and practice using decentralized exchanges.

I know many locals even don't know what is txhash of their bitcoin transactions and they don't know how to check temporary status of bitcoin network, estimated fees. Consequently, they easily go to panic whenever bitcoin network is crowded with more transactions and fees are high, thousands of waiting, unconfirmed transactions.

These are common lack of knowledge.

Quote

Why and how did you conclude that it was worth a decent amount of your time to learn about these issues on the forum?

I learned a lot here, technically and it is why.

Crypto Carabao Group

member

Activity: 93

Merit: 28

"Don't steal! Your governments hate competition!"

Quote from: tranthidung on July 17, 2020, 09:48:51 AM

There are some root causes I can see from the side of locals:
...

Don't care to learn and use non-custodial wallets (I used to be like them because there is no sites in local have articles on such important things for bitcoin storage and usages. I would have not know about it too if I don't spent decent time to learn on the forum)

To sum up, the local target customer population don't care too much about technical things, privacy, etc. and they tend to choose to use biggest exchanges. With such customer population, you are facing a big problem to ask them install applications as very begining steps.

Thanks, for the comprehensive answer; it's consistent with our experience in other markets; the general ignorance worldwide regarding such matters is very high, and will come back to haunt the ignorant once local governments collect enough data to use against them ex post facto.
10,000 early users of Coinbase can testify to that.

Why and how did you conclude that it was worth a decent amount of your time to learn about these issues on the forum?

tranthidung

legendary

Activity: 2310

Merit: 4085

Farewell o_e_l_e_o

Quote from: layer1gfx on July 15, 2020, 11:09:32 PM

you should try Bisq first before you are coming to a final conclusion and see for yourself if you actually like it or not.

it is a true DEX, has TOR inbuilt, and is better than trading in a browser. no malicious little plugins, no phoning home, sneaky ref links or other hidden shit.
it is basically an all-in-one trading software (unlike just any other mobile crypto app).

Quote from: Crypto Carabao Group on July 17, 2020, 05:58:59 AM

Trading through a web browser means using a web server, which would centralize Bisq in that server.
So, that would defeat the purposes why Bisq was created.

However, what you mean already exists at:
https://hodlhodl.com/

Why do you think the VND market makers avoid creating liquidity there also?

There are some root causes I can see from the side of locals:

Do neither care about centralization or decentralization: What they need is a good exchange with good volume, good chances to get profits from investment or tradings. Centralized or decentralized exchanges are not matter with them.
Don't care about their privacy: with KYC requirements and such.
Privacy is not a big matter with them.
Local laws do not strickly restrict bitcoin and cryptocurrency
Don't care to learn and use non-custodial wallets (I used to be like them because there is no sites in local have articles on such important things for bitcoin storage and usages. I would have not know about it too if I don't spent decent time to learn on the forum)

To sum up, the local target customer population don't care too much about technical things, privacy, etc. and they tend to choose to use biggest exchanges. With such customer population, you are facing a big problem to ask them install applications as very begining steps.

Crypto Carabao Group

member

Activity: 93

Merit: 28

"Don't steal! Your governments hate competition!"

Quote from: tranthidung on July 15, 2020, 10:50:18 PM

Quote from: Crypto Carabao Group on July 15, 2020, 09:15:39 PM

Given your answer, why then don't the VND market makers at those exchanges create liquidity at Bisq exchange?
It is decentralized and non-custodial, and has been available for years.

I don't trade on Bisq (actually I heard of it) and after reading your post, I visit the website and found that Bisq is for app trading only (please correct me if I am wrong at this point). Bisq will be great if people can trade it directly on web brower, and if Tor is allowed it will be more convenient for guys who take care of privacy.

Personally, I don't like to trade on an exchange that does not provide trading on web browser. In the past, I used to trade on Crypto Bridge exchange which is a cool one but eventually their team did an awful scam exit.

Trading through a web browser means using a web server, which would centralize Bisq in that server.
So, that would defeat the purposes why Bisq was created.

However, what you mean already exists at:
https://hodlhodl.com/

Why do you think the VND market makers avoid creating liquidity there also?

layer1gfx

legendary

Activity: 2128

Merit: 1109

Graphic Design & Translation - BTC accepted here!

you should try Bisq first before you are coming to a final conclusion and see for yourself if you actually like it or not.

it is a true DEX, has TOR inbuilt, and is better than trading in a browser. no malicious little plugins, no phoning home, sneaky ref links or other hidden shit.
it is basically an all-in-one trading software (unlike just any other mobile crypto app).

there were some ideas to start local market-making activities for the VND/BTC market and test the face 2 face feature (localbitcoins style).
but then global health problems put things back in the box of cool ideas... Roll Eyes

it could be a cool thing to test more in the community i would say.

Bisq Q2 2020 Update Video: https://www.youtube.com/watch?v=k_QjrhU3hrc

tranthidung

legendary

Activity: 2310

Merit: 4085

Farewell o_e_l_e_o

Quote from: Crypto Carabao Group on July 15, 2020, 09:15:39 PM

Given your answer, why then don't the VND market makers at those exchanges create liquidity at Bisq exchange?
It is decentralized and non-custodial, and has been available for years.

I don't trade on Bisq (actually I heard of it) and after reading your post, I visit the website and found that Bisq is for app trading only (please correct me if I am wrong at this point). Bisq will be great if people can trade it directly on web brower, and if Tor is allowed it will be more convenient for guys who take care of privacy.

Personally, I don't like to trade on an exchange that does not provide trading on web browser. In the past, I used to trade on Crypto Bridge exchange which is a cool one but eventually their team did an awful scam exit.

About Bisq
There are good points:

No Identity Verification: (I am not sure how long will it last). Many exchanges claim to be non-KYC but gradually they force users to do KYC.
Decentralized: It is a good feature for tech gurus only.

Likely not good points:

Decentralized: It is inconvenient for non-tech guys who don't know how to setup and operate Bisq on their devices.
Mandatory installation of Bisq's app: I don't like it and I would prefer to use platforms that are available for web browsers as well as try to trade on applications and mobile devices.

Crypto Carabao Group

member

Activity: 93

Merit: 28

"Don't steal! Your governments hate competition!"

Quote from: tranthidung on July 15, 2020, 11:16:57 AM

Quote from: Crypto Carabao Group on July 12, 2020, 09:21:06 PM

Which decentralized, non-custodial exchanges are used by Vietnamese to trade BTC<>VND online?

There is no decentralized and non-custodial exchanges to directly trade BTC to VND, as far as I know of. It is already difficult to find truly decentralized exchanges so that having one at least to trade BTC to local fiat is zero.
...
All in all, they are not decentralized and not non-custodial so that you can not have full control of your Bitcoin wallets and your funds. Your funds are on the hands of exchange/ marketplace owners and this is a big risks. They can scam you or whatever to steal your funds.

Thanks.
Given your answer, why then don't the VND market makers at those exchanges create liquidity at Bisq exchange?
It is decentralized and non-custodial, and has been available for years.

tranthidung

legendary

Activity: 2310

Merit: 4085

Farewell o_e_l_e_o

Quote from: Crypto Carabao Group on July 12, 2020, 09:21:06 PM

Which decentralized, non-custodial exchanges are used by Vietnamese to trade BTC<>VND online?

There is no decentralized and non-custodial exchanges to directly trade BTC to VND, as far as I know of. It is already difficult to find truly decentralized exchanges so that having one at least to trade BTC to local fiat is zero.

Fortunately, there are some exchanges (or also called as P2P - peer-to-peer marketplaces) that you can check and use after your investigations.

*: See

All in all, they are not decentralized and not non-custodial so that you can not have full control of your Bitcoin wallets and your funds. Your funds are on the hands of exchange/ marketplace owners and this is a big risks. They can scam you or whatever to steal your funds.

BTW, it is wisely to avoid storing your funds in BTC or whatever crypto on exchanges or marketplaces. What you should do to be your own bank and to be safe is:

Storing your funds in non-custodial wallets, back it up in multiple places, under multiple formats. Testing your backups to make sure you back it up completely correct, without typos.
Only send your funds to exchanges/ markeplaces to cash out and withdraw as instantly as possible.

Crypto Carabao Group

member

Activity: 93

Merit: 28

"Don't steal! Your governments hate competition!"

Which decentralized, non-custodial exchanges are used by Vietnamese to trade BTC<>VND online?

Topic: Vietnamese discussion on our local threads. Talk in English, self-moderated. - page 2. (Read 2152 times)