Pros & Cons Of Vietnam’s Bitcoin Exchanges

After enduring the best part of one year of bear market conditions, crypto traders are breathing a sign of relief as their fortune seems to be changing. Popular opinion in the cryptospace suggests bitcoin reached rock bottom some months ago just below the $6,000 and the next few months will be an accumulation phase.

In my opinion, the stabilization we are currently experiencing persuades the seasoned trader to start investing, gradually increasing the price. That in turn will attract new money opening the gate and letting the bulls out! Who’s with me?!

Whether you agree or disagree cryptocurrency is here to stay and trading in Vietnam is on the rise with a large, mostly untapped population developing swiftly. So, no matter if you’re experienced or a newbie, it’s important to know which exchange suits you best.

Read through the pros and cons of bitcoin exchanges in Vietnam below to make the right decision based on your trading habits!

Remitano

Remitano was the first Bitcoin and Ethereum trading market in Vietnamat a time when cryptocurrency was a mysterious unknown entity. The nature of this website is an intermediary link between buyers and sellers to ensure safe transactions and to help investors choose the best price.

Positives

  • Accept VND
  • Vietnamese language available
  • Relatively high liquidity
  • Simple, focused interface
  • Create account easily

Negatives

  • Transaction fees are quite high
  • Transaction process can be slow
  • Currently only supports transactions in some major countries.
  • Lack of transparency

Kenniex

Unlike Remitano, Kenniez is a real-time, automatic trading platform where customers can use VND, BTC, or ETH to trade. Kenniex has three charts representing market prices on Bittrex, Binance, and Poloniex with all the tools one may need

Positives

  • Reasonable trading fee of 0.4%
  • Provide coin wallet and VND support
  • Two-factor authentication
  • No fees depositing coins or money
  • Good support with hotline

Negatives

  • Low liquidity
  • Slow process to deposit money
  • Not many coins listed

FinanceX

The new player in the Vietnamese cryptotrading world, but is already showing why it’s predicted to be the biggest exchange in the country. FinanceX is a world-class digital asset trading platform that offers the ability to trade fiat currencies. FinanceX want to provide this option on a global scale with the next exchange launching in Indonesia this month. FNX token will also be available soon following the upcoming ICO adding an extra element to the exchange.

Positives

  • Low trading fee of 0.3%
  • Growing liquidity
  • Two-factor authentication.
  • Rapid transaction processing
  • Supports most banks in Vietnam with no charge on exchange
  • Easy-to-use interface
  • 24/7 support
  • Team of tech and trading experts

Negatives

  • New platform so unproven
  • Not many coins yet

ExchangeNo1

ExchangeNo1 is similar to the gold shops on Ha Chung Street (Hanoi), only with cryptocurrency rather than gold. Customers trade directly with the platform rather than finding a buyer or a seller.

Positives

  • Supports payments from more than 20 banks in Vietnam
  • E-wallet options such as Perfectmoney, Webmoney, OKPAY ...
  • Automatic transactions
  • 24/7 support
  • Have good reputation for safety and security

Negatives

  • Difference between buy and sell prices is quite high
  • Amount of coins is limited
  • Transaction process is slow

Santienao

Santienao works the same as ExchangeNo1, but they don’t support as many payment methods. Established in 2015, this platform is aiming to become the largest crypto exchange platform in Vietnam. Santienao has now operated additional KenChange platforms to serve international clients.

Positives

  • Fast transactions
  • High security and good reputation
  • Can trade without creating an account
  • Good support staff

Negatives

  • Difference between buy and sell prices is quite high
  • The interface is relatively complex to the user
  • Relatively few banks (almost exclusively through Vietcombank)

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Don’t forget to grab FNX tokens before the Presale ends!

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