VBTC Vietnam Co. Ltd. officially announced this week the launch of “VBTC plus”, which will offer advanced trading tools to the Vietnamese market.
During the first stage “VBTC plus” customers will be able to open either “long” or “short” positions on Bitcoin price movements with up to 8x leverage. Further advanced trading products will be launched over the coming months in order to provide an ongoing cutting-edge Bitcoin trading & hedging solution to the Vietnamese market.
The platform itself is designed according to current best-practice-models of the Bitcoin industry while integrating with established security standards of the traditional payments industry.
Some of the security features are:
- Google 2-Factor-Authentication for enhanced user account security
- HTTPS & PFS encrypted communication
- PCI DSS (Payment Card Industry Data Security Standard) is applied across the whole infrastructure of the system
- Multi-level Cold Storage Bitcoin protection system
“VBTC plus” will allow traders to register for the new platform at
https://plus.vbtc.vn/ from now on.
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Disclaimer:
The platform is not directly connected to our own exchange VBTC yet, since the order book there is too thin to provide a reasonable solution to run a leverage trading platform on top of it. The platform therefore takes its current exchange rate from Bitfinex (as currently largest USD/BTC exchange), the trades get settled on the larger exchanges as well. This provides our customers the advantage, that there is even theoretically no way for us to manipulate the price on our own exchange in order to trigger margin calls for our own benefit.
Furthermore: In order to avoid such experiences as customers had them at other Bitcoin leverage trading platforms during the last week, the platform triggers the Stop Loss already, when the collateral has - due to price movements opposite to the direction of the trade - been reduced to around 35% of its initial level / 5% of the overall position size (NB this figure depends on the leverage level on the position but is never lower than these amounts). This means there is a buffer against adverse price movements when unwinding the hedge backing the position to ensure that platform losses are minimised during volatile times, like we had them last week. This, combined with the fact that we create the leverage products ourselves rather than just introducing buyers and sellers, allows us to withstand losses and therefore NEVER reduce the profits of the successful traders due to the 'socialization of losses', while still limiting losses for losing positions to the initial investment amount the user puts in.
