Staked BCH vault filled - again (Vietnam)
About two months after **the pool size for the staked BCH vault got expanded**, Vietnamese Instant Cryptocurrency Exchange BitcoinVN can report that the available pool size is by now fully allocated. https://news.bitcoinvn.io/bitcoinvn-doubles-available-pool-size-for-staked-bch/
Currently no immediate plans exist to increase the vault size further, unless a strong uptick in daily BCH volume might make it necessary to increase liquidity provisions.
As of late December 2022, sBCH (“staked BCH”) holders can earn about 25% APR on their **staked BCH holdings on BitcoinVN**. https://bitcoinvn.io/staking
As can be seen in the chart below, the staking yield on BCH has been higher for the most part of the year compared to some of the closest Proof-of-Work competitors out there.
If one is taking a look at the non-stablecoin volume on BitcoinVN some further surprises show up in the data:
One of the more curious results for the year of 2022 was that the **BCH → VND swap volume** (14.3%) even thwarted **BTC → VND swap volume** (11.8%). https://bitcoinvn.io/?deposit=bch&settle=vnd https://bitcoinvn.io/?deposit=btc&settle=vnd
The most popular swap remained **VND → BTC** (45.2%). https://bitcoinvn.io/?deposit=vnd&settle=btc
**BitcoinVN** allows the swapping of (as of time of writing) 80 different digital assets - among them the option **to cash out into Russian Ruble** and **Vietnamese Dong** (no limits and no KYC). http://bitcoinvn.io https://bitcoinvn.io/?deposit=bch&settle=rubbankcard https://bitcoinvn.io/?deposit=bch&settle=vnd
sBCH is (necessarily) a custodial asset; depositors are regularly made aware of the risks of giving up self-custody in exchange for the returns provided by provisioning liquidity to the exchange platform.
Further details of the staking mechanics on BitcoinVN **are described here**. https://news.bitcoinvn.io/how-does-staking-on-bitcoinvn-work/
*This article has been produced by the* *BitcoinVN News desk* *and is published exclusively on read.cash.*
*Further public statistics of Vietnam's oldest Bitcoin Exchange service provider BitcoinVN can be found here:* *https://bitcoinvn.io/stats*
*For individuals and projects looking to hook up their services to the BitcoinVN API, the documentation can be found here:* *https://bitcoinvn.io/api/doc*
Vietnamese Bitcoin Exchange BitcoinVN doubles available pool size for staked BCH
Due to a steadily increasing usage of Bitcoin Cash on BitcoinVN the team of BitcoinVN decided to enlarge the BCH vault size. https://bitcoinvn.io/?deposit=bch&settle=vnd https://bitcoinvn.io/?deposit=bch&settle=sbch
Vaults on BitcoinVN allow users to provide liquidity to the swap service, and earn a share of the exchange volume of the staked asset. https://news.bitcoinvn.io/how-does-staking-on-bitcoinvn-work/
BitcoinVN is Vietnam’s oldest Bitcoin Exchange service which launched in early 2014. Currently, it allows for deposits and withdrawals in Vietnamese Dong as well as withdrawals into Russian Ruble. https://www.coindesk.com/markets/2014/03/23/international-effort-brings-boost-for-bitcoin-in-vietnam/ https://bitcoinvn.io/?deposit=vnd&settle=bch https://bitcoinvn.io/?deposit=bch&settle=rubbankcard
BCH has been holding pretty steadily its second rank in terms of volume among all cryptocurrencies available on the platform, and even outperforming Ethereum in terms of usage.
As such the users who staked BCH have been enjoying an APR of beyond 50% for the past couple of months.
While the APR might decline as more investors stream into sBCH (capped at 200 BCH), the current comparatively low digital asset prices and high APR might make for an interesting portfolio addition with limited downside risk. https://bitcoinvn.io/?deposit=bch&settle=sbch
Additional upside in the APR might be provided if BitcoinVN can continue its growth path while additional BCH usage on the platform occurs.
**For who** **sBCH on BitcoinVN** **might be an interesting diversification:** https://bitcoinvn.io/?deposit=bch&settle=sbch
Traders who believe the market is close to the bottom and believe $BCH will outperform in the next upswing
People who “long Bitcoin Cash” in any circumstance and want to fetch additional yield on their position
People who understand counterparty risk and manage their portfolio accordingly
How does staking on BitcoinVN work?
**Looking at the comparatively** **high APR** **offered by the** **BitcoinVN staking program****, the (rightful) initial question of the visitor is of course: “WHERE IS THE YIELD COMING FROM?”** https://bitcoinvietnam.zendesk.com/hc/en-us/articles/7086070981273-How-is-the-APR-calculated- https://bitcoinvn.io/staking
After the blow-up of various ponzi schemes in the first half of 2022 users have learned to ask the right questions.
**“But now tell us… where DOES the yield come from?”**
BitcoinVN is a Cryptocurrency Exchange (in fact: The first in Vietnam with almost a decade of operating experience behind it) which takes a small percentage in fees on every swap. https://bitcoinvn.io/ https://www.coindesk.com/markets/2014/03/23/international-effort-brings-boost-for-bitcoin-in-vietnam/
In exchange for providing liquidity, depositors can earn a share of the exchange volume of the staked asset (the formula can be found here). https://bitcoinvietnam.zendesk.com/hc/en-us/articles/7086070981273-How-is-the-APR-calculated-
There are no promised fixed returns!
If the asset you staked tends to get used a lot, the APR goes up.
The more the asset you staked is utilized in swaps on BitcoinVN, the more you earn (and vice versa).
**How is that different from a ponzi scheme?**
A ponzi scheme has no actual business model to generate the promised returns to depositors.
The only way to pay out the promised yields is via gaining ever more depositors at an ever faster pace, until the whole scheme ultimately and inevitably collapses.
The “business model” of a Ponzi scheme is solely to gain enough depositors to pay out the old depositors (plus their “yield”).
**BitcoinVN staking pool limit sizes**
BitcoinVN is capping the pool size at relatively small amounts of usually just (in USD terms) mid-5 to low-6-digit amounts per pool.
**Why?**
Because there is simply (currently) no need to access more liquidity to facilitate the exchange operations.
We neither need nor want millions of dollars worth in deposited assets. The downsides clearly outweigh the upsides for us.
That might sound like a very conservative approach to business, and that’s probably because it is.
**That said:**
If somebody without any type of track record is soliciting its user base for millions of dollars in funding/deposits… you might want to take your money and walk the other way (fast). Unless you like to gamble. Caveat emptor.
**What are the risks?**
It is a custodial service.
So the usual risk advice applies:
Never deposit more than you can afford to lose
Not your keys, not your coins
And while we believe that our track record of running the service for almost a decade gives us sufficient experience in terms of risk management and cybersecurity, we still prefer to not be responsible for your life savings. 🙂
So use the service at your own discretion, be aware of the risks.
And for your life savings:
Please make yourself familiar with managing your own keys and consider obtaining a hardware wallet. https://shop.bitcoinvn.io/product-category/hardware-wallets/
Upping the Pizza game in Saigon – Mattia di Paolo
If you are a Foodie-Connoisseur in Southern Vietnam’s buzzing *(outside lockdowns that is)* economic Capital of Ho Chi Minh City and possess just somewhat of an affection for Pizza *(and who is the lost soul which doesn’t?!)*, your salivary glands most likely just went into overdrive by simply the mention of the name.
If you hear “Mattia” – you think of Pizza, a man proud and passionate about his work and with high quality standards when serving *the* dish which is worldwide possibly most associated with Italian cuisine.
As such he has built up a fair fanbase in Saigon’s Foodie scene over the years who willingly join in whenever Mattia is calling to try out his new creations.
Mattia is running the kitchen & involved in a variety of well-known gastronomic outlets across the City. While in the past year rockin’ the pizza oven at Brick & Barrel, a rooftop restaurant with a crossover of comfort food from Italy, the UK and the United States right in the heart of Saigon atop the renowned Maison Marou in Calmette 171; he’s now refocusing his craft on more artisanal creations for the classic Italian cuisine delivered by Red’n Round in District 7. https://www.facebook.com/bricknbarrelvn https://www.facebook.com/RednRound
Born and raised in Italy’s Abruzzo region, famed as one of the best-known regions in Italy to eat in due to its varied geographic landscape between mountains and sea, Mattia started to make a name for himself in Saigon’s Foodie landscape straight from the beginning of his activity as Pizzamaker & chef in 2017.
Together with a selected few other restaurateurs, he has been upping in a friendly, but fierce competition the pizza game in town considerably over the past few years – to the rejoice of Saigon’s Foodie scene.
Gone are the days that Pizza in Saigon meant an incredibly disappointing piece of poorly baked bread dough topped off with commercial Mayonnaise and Ketchup of the cheapest sort.
Mattia took the time to talk with us about his journey to Vietnam, the experiences made along the way, his outlook for Vietnam and his dreams for the future – and of course what makes in his eyes “the perfect Pizza”.
**BitcoinVN News: Mattia, one of the first obvious questions: Why Vietnam, what led you here in the first place and which lucky coincidences led to the point that made you choose Saigon/Vietnam as your new home?**
**Mattia di Paolo:** I visited Vietnam for the first time in October 2016, for my brother’s wedding to his Vietnamese girlfriend. The plan to leave Italy was already in my mind and that trip led me to consider Saigon as my next destination. I heard from my brother about the city, about the economy, that Saigon at that time was lacking of Italian chefs and that I could find my way here. Obviously, I also liked the city a lot, it really impressed me. Chieti, my hometown in central Italy, has only 50.000 residents and is very quiet, so I was curious to experiment a new lifestyle in such a “never sleeping” city. The plan to make Vietnam my new home became reality only 5 months later.
**BVNews: During your stay in Vietnam, you were already involved in a variety of Italian-style food outlets and restaurants. Among them Pizzamore in Thao Dien as well as** **Italiani’s by Ariel & Kevin** **which has been operating in the City since 2016.** https://news.bitcoinvn.io/interview-with-ariel-nguyen-of-italianis/?lang=en
**What were some of the lessons you learned during your culinary journey in the city and what changed in the quality and variety of food offerings in town since your first arrival on the scene?**
**Mattia:** Vietnam has been the first country outside of Europe i have worked in, so what caught my eye at the beginning was the huge amount of F&B related businesses. I don’t remember entering a street and not seeing at least a coffee shop or a banh mi stall. This made me believe that I found the right place to learn, research and develop more my idea of food and my projects. What also surprised me was the big variety of different styles and food cultures in the city. Everyday you can eat something different and discover something new. It’s very very stimulating for F&B operators to live in a city like Saigon.
**BVNews: By now you are involved in a whole variety of Italian-style restaurants & food offerings across town. What are they and how do you manage all of this in just 24h per day?**
**Mattia:** I started my journey in Saigon at Pendolasco at the beginning of 2017. After that experience I opened up my first restaurant PizzAmore. I was new in the city and the place was very small, but that didn’t stop us from being successful and getting better day by day. I truly believe that if today I have a reputation, it is because of PizzAmore. It made me move my first steps in the F&B community in Saigon and gave me chance to met many colleagues and i’m proud to say that today a big part of them are my 2nd family here in Saigon.
I also worked at Italiani’s in all their 3 locations: that has been a very important experience for me. It really helped me a lot to understand more about Asian customers’ taste and more specifically Vietnamese as well. The owners are Vietnamese so everyday was interesting to discover the different points of view about taste and more generally about organization of the restaurant. I co-operated in Indika Saigon as well and more recently in the last 13 months I have been involved in Brick&Barrel and Red&Round. I have to say that 24hours a day are not enough for me! https://www.facebook.com/IndikaSaigon/ https://www.facebook.com/bricknbarrelvn
**BVNews: What’s the target audience for** **Red & Round** **and which special dish would you recommend visitors?** https://rednround.com/
**Mattia:** Red&Round is located in District 7 and the location was one of the reasons that made me accept their offer. I’ve never worked in that area before and I was curious about how to deal with the big variety of customers living in there. There is a big community of Korean, Japanese and Chinese customers and I was thrilled to discover that they truly love pizza and Italian food in general. Red&Round is where I had my biggest achievements in terms of customer satisfaction and skills improvements. We have customers of all ages. Many couples love to dine at Red&Round but also families and companies.
We have a big selection of dishes and we are mostly known for pizza, but if you want to try something special I would go for roasted gnocchi with parmesan fondue, caramelized apple, mint leaves and cocoa.
**BVNews: One of the locations, Red & Round, is also** **sporting a Bitcoin ATM****, allowing people to buy and sell Bitcoin for Cash. What’s the background story to that and what’s your personal opinion on Bitcoin?** https://news.bitcoinvn.io/new-bitcoin-atm-launched-district-7-saigon/?lang=en
**Mattia:** The story started when I was working at Italiani’s where I saw Bitcoin ATMs for the first time. I saw they were quite popular so I decided to propose it to Red&Round owners and they were as curious as I was, they accepted and now we are one of the few in the area. About Bitcoin, I simply say that it is the future of modern economy and finance. It may take time, but it will be real.
**BVNews: As somebody grown in Europe and now with several years of experience under your belt in Saigon/Vietnam – what makes Vietnam such a good place for entrepreneurship? And what are the biggest business challenges newcomers face when coming to Vietnam?**
**Mattia:** It depends a lot from the typology of business but I’m quite sure that the biggest difficulties are about bureaucratic processes, location leases and a big difference in task organization and job planning. By the way, business is never easy but I think that Vietnam’s economy will keep growing in the next few years and it’s still a great option for many different fields.
**BVNews: For the past half year Vietnam has been suffering under the potentially most harsh lockdowns measures globally with the expected dramatic fallout for the** **domestic economy** **and the mental, physical and financial well-being of its people. How did it impact you personally – and how did it potentially change your views on Vietnam and the things which matter in life?** https://twitter.com/Trinhnomics/status/1436136922447953923
**Mattia:** I believe that the epidemic did not change only Vietnam but the whole world. There’s no country that did not struggle in the last 2 years. It affects your finances, affects your independence but most of all it affects your mental health and your social life. Many expats decided to leave and come back to their hometown, but in my opinion Vietnam is still one of the best places where you can be at the moment. The country is doing its best to fight this situation and I have been very happy that the government decided to include expats in the vaccinal campaign, in fact I already received both doses. Of course without tourism and with the severe lockdowns we are going through the country is struggling but I believe that the worst has passed and we are almost there. Saigon will come back to be the amazing and vibrant city we all know.
**BVNews: What are your personal plans for the coming year – and for the next five years?**
**Mattia:** For 2022 my plan is to focus on Red&Round development. We want to create something new and we want to keep improving the quality of the dishes and the pizza. While doing that, we would like to launch a new project.
For the next 5 years, I see myself still here in Saigon trying to open up the restaurant of my dreams, you will know about it when it will be the time.
**BVNews: What makes a perfect Pizza to you? And – what’s the worst crime you have ever seen committed to a Pizza?**
**Mattia:** in my opinion the perfect pizza doesn’t exist. It became a global phenomenon. There is not a specific code, rules or recipe to follow, there are many kinds but I personally prefer the Neapolitan style and that is the best for me. My concept of pizza is a light, airy and crispy dough, which has been resting and fermenting for 36hours at least, topped with quality ingredients and cooked at high temperature for not more than 2-3 minutes.
About the crime, in Cambodia I have been served raw uncooked dough, with wrong topping and medium size for 18 usd. That means killing not only the pizza but also years of studying and research we invested in to reach our best (that it is yet to come).
**BVNews: Thank you for your time Mattia, your contributions to the local community and we wish you further success in all you do!**
*[Original article also published on* *BitcoinVN News**]* https://news.bitcoinvn.io/upping-pizza-game-saigon-mattia-di-paolo/?lang=en
https://cdn.vuukle.com/widgets/emotes.html?version=3.7.9
Vietnam in Lockdown – Emily Dallara on relief efforts amidst the economic devastation
**Vietnam in Lockdown – Emily Dallara on relief efforts amidst the economic devastation.**
While Vietnam and its residents had a comparatively smooth ride in 2020, since late spring of 2021 the country and its population has been ravaged by expanding lockdown measures.
While most foreigners and expats who are in a position to leave the country have been doing so over the past two months and/or are working towards it, the vast majority of local residents do not have that choice and have to bear the full brunt of destruction unleashed by the lockdown measures.
As elsewhere in the world, the lockdown has led to an increase in business bankruptcies, unemployment, destroyed livelihoods, disrupted supply chains and soaring food prices.
While the Vietnamese people have developed over the war-torn history of the 20th century a strong resilience and the ability to endure prolonged suffering through hard times, it is undeniable that the current circumstances are undoing a lot of the rapid economic progress that the country experienced in recent years.
The lockdowns are forcing a huge toll in terms of mental and physical health on the population – and especially the many families who depend on their daily/weekly incomes from their jobs and business who are currently unable to earn a living are put in a severely hard spot.
For the first time in many years poverty, hunger and all the negative effects stemming from the halt of the majority of social and economic life are on the rise in this beautiful South-East-Asian country.
To endure the situation, Vietnam’s civil society has stepped up to provide relief to the most vulnerable in times of need.
One of these organizations doing great work on a daily basis is HomeVN, which is a Vietnamese non-governmental, non-profit organization. HOMEVN engages in four areas: Environmental protection, Education, Free food delivery, Free ambulance. With the goal to connect many hearts to share, spread love and promote sustainable development, reduce poverty and increase community participation. https://www.facebook.com/HOMEnpo2021/
https://www.facebook.com/HOMEnpo2021/?__tn__=-UC*F
Long-time Saigon resident Emily Dallara, who has just recently left Vietnam after many years to proceed her life in Northern France, has teamed up with the French-Vietnamese NGO in order to raise awareness and additional funds for the efforts conducted by the organization. https://twitter.com/emrosedallara https://cointr.ee/vncovid19relief
**BV News: Hi Emily! You have recently teamed up with the French-Vietnamese NGO HomeVN which is one of many players in Vietnams’ civil society to provide relief efforts for the most vulnerable in a very challenging time. How did you find out about the work done by HomeVN?**
**Emily:** Actually my friend Jess is one of the Co-founders of HomeVN and she has been working to build the NGO for a few years now. She does so much work to help children and families affected by covid and poverty in Vietnam in general, that she was the first port of call when I wanted to support Vietnam during these tough times.
**BV News: How can our readers contribute to the efforts?**
**Emily:** Your readers can simply send crypto to https://cointr.ee/vncovid19relief. This is a product built by Naomi Brockwell, who wanted a decentralized Patreon type platform to receive donations / payments. Cointree makes it possible for users to anonymously donate crypto via the addresses linked on the platform. The funds are then transferred via Cash2VN to HomeVN’s bank account. Cointree doesn’t hold any funds. https://naomibrockwell.com/
**BV News: While Vietnam has seen tremendous economic progress over the past decade, the – compared to the Western World – widespread absence of state-provided social security systems means that charity and social causes are often tackled via private efforts of Vietnam’s civil society. This model puts more responsibility and agency in the hands of each single citizen to come together and join efforts in hard times. What are some of the more positive anecdotes you might have experienced in working with Vietnam’s private charity organizations?**
**Emily Dallara :** Expats and Vietnamese who are in more comfortable financial positions have been able to put a lot of their own time and money into providing support for private charities. This involves cooking and delivering rice, meals and toiletries to those without homes or money as well as those who are barricaded or in quarantine.
**BV News: The situation in Vietnam these days is pretty dire. After we all enjoyed a year of being pretty unaffected by the situation “in the outside world” – since April the circumstances have changed dramatically. This all aside – what are some of the brighter spots you have perceived during the time of the lockdowns and give you some hope for Vietnam and humanity in general?**
**Emily:** You know, the first lockdown, as scary as it was ( in terms of not knowing what would happen next) was pretty chilled. We were living in an amazing apartment, had sun all day and had the best food delivery people ever. Pure Bowls and Bep Vo in Thao Dien basically kept us going. We also adopted our first dog, which was of course a massive distraction too. We had to isolate for 2 weeks after a trip to Da Nang and the management where we lived were super helpful at providing us with food, helping with dog walks etc. https://www.facebook.com/purebowlsvn https://www.facebook.com/bepvokitchen
**BV News: You just recently left Vietnam at the start of the new outbreak of lockdowns in the country. What drove your decision to leave Vietnam behind for your next stage in life in Europe?**
**Emily Dallara :** We left due to multiple reasons, one because we wanted to be vaccinated, two the lack of safety for our dogs- we were terrified that if we went to quarantine they would be left behind, and three the visa situation- we no longer could get residency based on the new Visa changes after 7 years.
**BV News: What are some of the brighter spots and experiences from your time in Vietnam? And while in the current situation one probably would not recommend anybody to come to Vietnam: For which type of people do you think Vietnam might generally prove to be a good spot to be after all of this mess is over? And what are some of your best memories from your time in Vietnam?**
**Emily:** I loved living in Saigon so much, it was the best 7 years ever. Pre-covid, Saigon was like living in a colorful dream every day. As much as weird stuff happened everyday, so did awesome stuff. Like going to see my Nuoc Mia ladies down the street, being able to try food from any restaurant in the city 24/7, brunching on Sundays by the Saigon river and just living in amazing, super well staffed condos. Our doggie getting cuddles on morning walks from the building maintenance workers who loved my babies so much, was always the best start to every day. Of course having a driver and maid and being able to really provide regular work for locals was a massive benefit too. Plus, the ability to travel around the country so cheaply and easily and access 5 star luxury for less than in Europe. And best of all, the coffee culture is just incredible- so many passionate young roasters in HCMC, Da Nang and Hanoi. Living in France, where this is barely existing is sad to say the least ha! I miss Saigon circa 2019 so so much and hope to visit once things have settled down. It’s perfect for remote workers ( so many co-working spaces!) and a really affordable, warm, friendly place to live. Give it a few years, I hope it gets back to it’s normal self.
**—**
**If you are looking to contribute via cryptocurrency, you can do so via** **Cash2VN****.** http://www.cash2vn.com
**Simply enter the the VND amount you are looking to donate, choose your cryptocurrency of choice and enter the following recipient data:**
**19034896633026**
**Giang Thị Kim Yến**
**Techcombank HCM**
**Cash2VN will void the usual bank wire processing charges on all transfers made to HomeVN via the platform.**
[Original article can be found here: https://news.bitcoinvn.io/vietnam-lockdown-emily-dallara-efforts-amidst-economic-devastation/?lang=en ]
Cash2VN - Vietnamese Crypto Remittance Platform adding Affiliate payouts in BCH & USDT_SLP
Cash2VN - the Vietnamese-born Crypto Remittance platform which has been operating in the South East Asian country since 2015 recently launched its Affiliate scheme.
Cash2VN allows its users to send money to any Vietnamese Bank account or to a variety of cash offices across the nation (currently serving Saigon, Hanoi and tourist hub Hoi An) - with no need for the recipient to know/understand anything about Crypto. https://news.bitcoinvn.io/cash2vn-relaunch-new-cash-office/?lang=en
Cash2VN belongs to the pioneers in the "Rebittance" industry which saw various startups trying to tackle the issues of high costs of international remittances via the utilization of Cryptocurrencies for border- & bankless value transfer.
However, due to changing economics of transactions on the Bitcoin Blockchain various of these firms had to pivot their business model and adapt their technology in order to remain competitive in the international money transfer industry.
***"The circumstantial statistical evidence provided by the Cash2VN team seems to indicate that transactions on bitcoin and ethereum blockchain (the “base layer”) are not viable for much longer as payment mechanisms for retail users." (*** ***Cash2VN - Quarter 1 / 2021 report*** ***)*** https://news.bitcoinvn.io/cash2vn-quarter-1-2021-review/?lang=en
As one of the deliberate design choices made, the Affiliate scheme is operating in a **non-custodial** way.
Rewards are paid immediately upon a referral conducting a transaction via the platform.
Alex Winter, founding member of Vietnamese Crypto Exchange Platform BitcoinVN and the creator of Cash2VN commenting on the design choice:
*"It only makes sense to reward our users for shilling our product, and we do it the bitcoin way: through peer to peer payments directly into their wallets. Our users can pick between BCH, DASH and USDT on SLP for receiving their rewards, which are the only viable options we currently support when it comes to cheap and reliable online payments."*
The platform has seen especially an uptick amidst Digital Nomads based which are often part of the unbanked population due to the increasingly strict banking regulations in Vietnam as well as among people who employ freelancers and service providers based out of the South East Asian nation.
The team of Cash2VN is constantly looking for possible service improvements - and can be reached among other channels via their official Twitter account.
*If you are looking to test out the platform and support Alex' work - you can do so via this* *affiliate link**.* https://www.cash2vn.com/?ref=dfa640d40b339e57
*Or create your own* *here.* https://www.cash2vn.com/affiliate
Cash2VN – Quarter 1 2021 Review
Vietnamese crypto remittance platform Cash2VN released its updated quarter 1 usage statistics report. http://cash2vn.com http://www.cash2vn.com/stats
As possibly the most notable change to previous periods remains the unrelenting success of USD-backed stablecoins – and in specific Tether – to clean up the market for remittances and international money transfers. https://tether.to/
Tether succeeded in unseating Bitcoin as the major transfer mechanism for remittances sent to Vietnam.
A further observation is that low-fee blockchains such as Dash or Litecoin saw explosive usage growth, certainly last but not least driven by the increasing transaction costs on the blockchains with the most on chain usage such as Ethereum or Bitcoin.
The circumstantial statistical evidence provided by the Cash2VN team seems to indicate that transactions on bitcoin and ethereum blockchain (the “base layer”) are not viable for much longer as payment mechanisms for retail users.
More interesting data came out regarding the average remittance size of each cryptocurrency/stablecoin.
Tether again is leading the charge by far, with the more expensive ERC20 version utilized mostly by “whales”.
However, looking at the number of transactions it is visible that native cryptocurrencies still dominate the remittance market in Vietnam by far.
USDT (ERC20 & SLP combined) account for approximately only 12% of the total transfers initiated and comes in fifth behind Ethereum which amounted in the measured period a total of about 14% of transfers.
Despite the recent rise in popularity across the web and its relatively cheap transfer fees, Dogecoin accounted for only 0.34% of the total transfers.
More hype than actual usage? Or have the fellow shibes just not found out yet about what else they can do with their Doge besides going to the moon? https://news.bitcoinvn.io/cash2vn-added-dogecoin/?lang=en
*More information & references:*
*Cash2VN on* *Twitter*
*Cash2VN -* *Website*
*Original article published on:* *https://news.bitcoinvn.io/cash2vn-quarter-1-2021-review/?lang=en*
Fleeing the West and returning to Vietnam in 2020 - Interview with Cash2VN Creator Alex Winter
2020 was most likely for the majority of our readers one of the most volatile years of their lifetimes.
Economic devastation and wealth redistribution on a scale not seen since World War 2, governments in a large number of countries getting ever more authoritarian, central banks printing until their printing presses become incandescent.
At the same time more and more people are waking up to the fact that the overlords and their expert class they have been relying on for guidance are corrupted, untrustworthy and generally only in it for their own benefits.
The search for alternative forms of living outside the overbearing and devastating control of centralized powers has become a force to be reckoned with.
All that said, the economic developments in different parts of the world have been taking quite a different path between various regions.
While in specific the Western countries have been hit especially hard, many Asian countries managed to navigate the whole situation much better, some of them - among them Vietnam - even still **projecting economic growth for 2020**. https://asia.nikkei.com/Economy/Vietnam-to-halve-2020-GDP-growth-target-due-to-pandemic
A person who has been in a variety of countries this year - Vietnam, Germany, Brazil, Germany and now again Vietnam - who dealt with the Wuhan virus in a very different way was Alex Winter; long-term bitcoiner, co-founder of **BitcoinVN** and creator of the remittance service **Cash2VN**. http://www.bitcoinvn.io https://www.cash2vn.com/
**BitcoinVN News****:** Hi Alex! 2020 has been quite a year for most of us. While the majority of the world population has been locked down, you have been traveling from Asia to Europe to South America - and then again back to Europe and now back to Asia over the course of the past year.
What was the most valuable insight you gained over this year and what was your greatest disappointment?
Alex: I decided to visit my family back in Germany in February this year. I didn’t plan to stay for too long, but just a few days before my return flight in March Vietnam decided to refuse entry to all foreigners due to the virus, with or without visa (and I had one). I was basically stranded in my home country.
As I approached my sixth month in Germany I figured that soon I would be tax liable as a resident. I had no interest at all in paying taxes in Germany so I decided to take advantage of my dual citizenship.
Having a Brazilian passport as well I decided to fly to Brazil - my other home country - which at the time had similar travel restrictions as any other country, but which have been completely lifted after I arrived. If you’re a digital nomad looking for a sunny place to stay, I can certainly recommend taking a look at it.
I think this was the first time having two passports came in really handy. It’s nice to know that you have multiple places you can always go to when things get difficult. You never know when you’re gonna need options.
BVN: Why did you choose to return to Vietnam and what was the process like? Would you recommend other people who are looking for greener pastures outside the West to give Vietnam further consideration?
Alex: Vietnam is a great place if you are able to work location independent. You can step outside and find a new place to work from every day, thanks to the great coffee culture here.
However, currently you will have to jump through tons of hoops in order to enter the country. You’ll need to have a local company willing to sponsor your visa, get the approval of multiple government agencies, book one of a few (and expensive) special flights, present a negative COVID test before departure, arrange a hotel for your quarantine including transport. I probably forgot a couple of other things. You’d be well advised to hire an agent to take care of all that paperwork if you’re not interested in going insane.
I briefly returned to Germany from Brazil because otherwise the journey to Vietnam would have been unbearably long, and to get a taxpayer funded COVID test on arrival at the airport. I printed all the documents my agent told me to bring to my next flight and spent another five days in Germany.
I never saw airplanes so empty like this year, and my flight to Vietnam was no different. It’s a weird feeling being one of maybe 20 passengers in a 737. Arriving in Saigon was an eerie experience as well. What was once a bustling airport welcoming countless of visitors at any given time is now a place where you could hear a pin drop. They basically kept the airport running just for us as we arrived at midnight. There was no other flight arriving at the same time.
After picking up your luggage you will be escorted to your dedicated driver. My quarantine hotel is basically across the street from the airport, so the most overpriced ride of my lifetime took less than two minutes. At the hotel you’re gonna spend 99.9% of the time inside your room, with the exception of being tested for COVID twice which is done in a different room. It was basically solitary confinement in a 4 star hotel.
BVN: One of your major projects this year has been a total revamp of **Cash2VN**, the crypto remittance service which was launched in 2015. https://www.cash2vn.com/
Who is your target customer base, what are you most excited about regarding the relaunch of the service and what’s up next in the pipeline?
Alex: Our customer base can be split up in two categories: Foreigners sending money to their local girlfriends and foreigners cashing out their crypto to cover rent and daily expenses.
Since I have been outside of the country for a long time, my mobile carrier disabled my SIM card and issued my number to someone else. However my bank account is still tied to that number, so I currently cannot access my own bank account. I asked the bank to change my phone number but they asked me to present my expired passport I used years ago to open the account. They did not accept my valid passport. Of course I’m not carrying around my expired passport so I’m basically unbanked for now.
Ridiculous banking regulations like this will make Cash2VN even more valuable to expats who will sooner or later face obstacles trying to access basic banking, especially as we now offer cash pick-up options in three major cities in Vietnam. https://www.cash2vn.com/
BVN: The 2020’s and beyond. Many are deeming Asia as the new global economic center in terms of economic growth and prosperity, economic and entrepreneurial opportunities and overall “the wave to ride”. Do you think the West has a chance to rebound in the foreseeable future or should people rather get out of dodge for the time being?
Alex: The West is indeed in a downward spiral, culturally, morally and economically. It’s sad to watch, although it’s better to watch from a distance. The recent lockdown measures by western governments are only accelerating the trend, and I don’t think there is an end to this self destructive madness in sight. Countries like Vietnam on the other hand cannot afford to close down venues like restaurants and bars for such long periods of time so you can basically enjoy a normal life once you get out of quarantine.
Cash2VN Relaunch – new Cash Office partnerships in major Vietnamese cities
The five year old Cash2VN remittance platform was relaunched last month after undergoing a major overhaul to provide a more seamless remittance experience to its client base. https://www.cash2vn.com/
Cash2VN lets you send money to any Vietnamese bank account as well as from now on to cash office outlets in Ho Chi Minh City, Hanoi and Hoi An.
While the sender is able to pay in various major cryptocurrencies & stablecoins, the recipient doesn’t need to know anything about those. https://read.cash/@BitcoinVN_News/vietnamese-remittance-platform-cash2vn-listing-usdt-slp-d0eace69
They simply see the VND appear in their bank account or be able to pick it up at the nearest Cash Office.
Cash2VN recently also announced a general lifting of remittance sizes. https://news.bitcoinvn.io/cash2vn-lifts-limits-remittance-size/?lang=en
Source: https://news.bitcoinvn.io/cash2vn-relaunch-new-cash-office/?lang=en
How to return to Vietnam in 2020 and 2021
2020 turned out to be the opening year of a wild decade with many rapid social and economic changes ahead.
In order to best survive and thrive in these challenging times, which also provide ample opportunity if one becomes proactive about one’s matters, it becomes more important than before to locate oneself at the right spot on the planet.
As it turns out, Vietnam seems to be one of the more promising places for working professionals and young people eager to live out their entrepreneurial drives.
Not only did Vietnam manage to squash outbreaks of a certain virus twice this year and keeping its local economy more or less opened – despite the blow to its export-oriented manufacturing industries which are still expected to *grow* at a rate of 2.5 percent in 2020, while many Western countries saw declines of their GDP in the double-digit percent range. https://asia.nikkei.com/Economy/Vietnam-to-halve-2020-GDP-growth-target-due-to-pandemic
Nice weather and beaches, abundance of locally produced food and delicious dishes made out of these ingredients, favourable demographics and an overall socio-economic environment which signalizes “We are open for business!” make Vietnam one of the more attractive places to be if one is seeking out economic opportunity in a peaceful setting for mind & body.
*The beautiful beaches of Vietnam are quiet empty in these times – ideal for a relaxing get-a-away if you find your to Vietnam!*
With international travel restrictions and locked borders still in place, the question however is – how do I get (back) to that paradise place?
We spoke on this matter with David Watson, himself a Vietnam-based lifetime entrepreneur and General Director of Future.Travel. https://twitter.com/watson_ita https://future.travel/
**BV News: Hello David! 2020 was certainly not the easiest year to operate a business in the travel and tourism industry. How have you guys been holding up, how did you and your business use the downtime in the travel sector and do you see light at the end of the tunnel for 2021 and beyond?**
**David Watson:** We see 2020 as literally the year to get the vision straight for both business, professional and personal survival and growth. For businesses the year’s profit will be measured in part by the fact you are still trading. In a year like this when the norm crumbles around you it is showing the businesses who built on a solid foundation are the survivors and those whose model was more toward the quick spin or even ponzi style of growth had their demise fast tracked.
Future.Travel is surviving, and growing…not growing in revenue necessarily, rather in increasing our corporate customer base as the ‘self booking’ corporate traveller had disaster after disaster that needed a professional agent to fix. In product development we are focusing to aid and support travellers looking for easy and comprehensive solutions for travel and holidays.
This year we have added cruises to our online systems (previously all bookings were done manually in house), added a payment gateway through NeutronPay which provides the ability for customers to use the Lightning Network for Bitcoin payments, assisted getting the first Vietnamese language supported Lightning/Bitcoin functioning at Wallet of Satoshi, built and deployed a Lightning Network ATM into the Future.Travel office in Vietnam, and by the end of October 2020 will add more than 200,000 rail connections to Future.Travel’s online booking engine, allowing travelers to book train tickets throughout Europe and North America. Planes,trains, hotels are all able to be paid instantly online with crypto currencies and via traditional credit card route. https://neutronpay.com https://www.walletofsatoshi.com/ https://news.bitcoinvn.io/first-lightning-atm-saigon-launches/?lang=en
2021 is a huge growth year for the planet and for travel in general. Asia has shown that Covid-19 can be managed in large populations and transmission is minimal with social rules being followed. This basically will open the doors to safe travel in 2021 intra-Asia who, in my estimation, will lead the way to a global tourism revival. Add to this enhanced testing techniques and isolation protocols by governments and regulators and the picture is one of increasing travel.
**BV News: As outlined above, Vietnam seems to have been one of the better places to be during this chaotic opening year of the 2020’s. Why should somebody in the West possibly consider Vietnam as a favourable place to relocate in the upcoming years?**
**David Watson:** Vietnam is still a developing nation. While other nations are on the decline or decay on the society/economic clock, Vietnam is still creating opportunities for the community to prosper. The Vietnamese business community is still growing in most cases, despite the collapse or precarious position of other first world economies.
I am a fan club for helping develop new enterprises and opportunities. From that standpoint I encourage people and businesses to look at Vietnam as a place to incubate and develop a business. Cost of labour is higher than some Asian neighbors but the quality of the work, if guided, is some of the best in the world. That is why you see the multi-nationals with factories and high tech parks here. Tax wise the first 5 years are tax free so the incentive to invest in building a business is very good.
The silver lining in the cloud comes with a stormy coating being ‘reality’. It is not easy to do business in Vietnam without local connections and understanding. A lot of foreign people/companies lose money here in failed ventures as they try to fit their western or foreign image of how things work into a Vietnam reality. Best to leave your ego at the door and be willing to adapt and compromise on some issues you take for granted elsewhere.
**BV News: All that said, Vietnam has kept its borders tightly sealed since early March and only in recent weeks started to gradually ease travel restrictions for professionals and investors who were able to provide the required paperwork. How is the current travel situation for Vietnam, when and in which form do you expect further relaxation of travel restrictions and how can you guys possibly help somebody looking to navigate the process to make its way back into Vietnam?**
**David Watson:** Vietnam is a success story on many fronts both economically and socially. The lockdown in March seemed late in some ways when you are on the ground and the news coming out of Europe was getting worse every day. In hindsight the government managed to keep the borders open as long as possible and when they closed them, and locked down public movement, it worked very well to prevent the spread of the virus.
Fast forward 7 months to October and the decisions that seemed logical for us in Vietnam and overbearing for some countries earlier in the year, have stood the test of time and Vietnam is and has been virtually virus free. With that as a platform to grow from the country is letting more people into the country. Business first.
If you are a business and have essential workers, experts, that need to enter the country to help grow the business and economy there is a set pathway for them and family members to enter the country. Likewise, foreign investors in Vietnamese companies have a similar pathway into Vietnam. For Vietnamese living or currently outside of Vietnam the Vietnamese government has repatriation flights multiple times every week and now some countries now have regular inbound commercial and charter flights for Vietnamese citizens. We at Future.Travel manage the process for companies and individuals to return to, and departing from, Vietnam. Sometimes going to another restricted access country is as difficult as it is to enter Vietnam. We support people travelling in both directions get through the paperwork and permissions as well as getting them on a flight.
We seriously do not have a crystal ball to predict the future. Travel requirements change daily (without consulting us!) and yet the signs are good for us to see relaxation of travel restrictions as new testing systems are implemented to provide accurate 1-5 minute testing that can be completed at the airport prior to departure and on arrival into destination airports. Long before vaccinations are available, the screening of potential virus carriers will be carried out by airports and airlines, which will set into motion the recovery of international travel to Vietnam. Until that new reality is in place, it is still possible to travel to Vietnam. It just takes the right combination of circumstances to make it happen. https://future.travel/
**BV News: Thank you David and we hope to speak with you soon in due time to keep our readers abroad updated on the travel situation in & around Vietnam!**
*[Original Source:* *https://news.bitcoinvn.io/how-to-return-vietnam-2020-and-2021-interview-david-watson-future-travel/?lang=en* *]*
Vietnamese Remittance Platform Cash2VN listing USDT-SLP
Cash2VN starts to accept USDT-SLP immediately for its Remittance Services to Vietnam which allows anyone in the world to send funds to recipients in Vietnam fast & at a very competitive pricing.
USDT (Tether) started in summer this year to release a Simpleledger (SLP)-based solution of its popular Stablecoin, which is well on its way to break a 20bn$ market cap by end of the year and has become the backbone of a lot of settlement infrastructure in the Cryptocurrency space.
This announcement is following the move by mother company BitcoinVN to add USDT-SLP to its services in order to provide a cheaper alternative to transfer USDT (Tether) without relying on the increasingly congested Ethereum Blockchain. https://news.bitcoinvn.io/bitcoinvn-lists-usdt-slp/?lang=en
Cash2VN was launched in 2015 by the founding team of BitcoinVN to utilize cryptocurrencies for their properties to provide fast & cheap global value transfers. http://www.bitcoinvn.io/
Vietnam's oldest Bitcoin Exchange BitcoinVN lists USDT-SLP
*"We chose to utilize the Simple Ledger Protocol on Bitcoin Cash because it offers a fast, cheap and reliable way of transacting with the most successful stablecoin on the market, technically beating other solutions by far." - BitcoinVN CTO* *Alex Winter* https://twitter.com/realAlexWinter
After the most recent listing of USDT given its strong increase in usage in the Asian Cryptocurrency markets especially over the past year, BitcoinVN is from now on also providing the possibility to buy and sell USDT via the Simple Ledger Protocol (SLP). https://www.bloomberg.com/news/articles/2020-01-22/crypto-stablecoins-find-a-toehold-in-shadows-of-global-trade https://twitter.com/DominikWeil/status/1251174752779026433 https://simpleledger.cash/
The current boom in “DeFi” usage has driven up transaction costs on the Ethereum Blockchain significantly in recent weeks, so that cheaper alternatives and more reliable transfer mechanisms for USDT as the most high-volume Digital Asset are of high priority in order to fulfill the needs of the market.
*“We chose to utilize the Simple Ledger Protocol on Bitcoin Cash because it offers a fast, cheap and reliable way of transacting with the most successful stablecoin on the market, technically beating other solutions by far.”* said Alex Winter, CTO of BitcoinVN. https://twitter.com/realAlexWinter
*“Since Counterparty risk with 3rd party-backed Digital Assets such as Tether is always the major attack angle, the underlying security of the Blockchain is of secondary importance. For the nature of what USDT aims to provide to its users, fast, cheap & reliable transfers are of utmost importance – while none of our clients is utilizing USDT as long-term savings vehicle.*
*We are observing other solutions such as the* *Liquid Sidechain* *or* *RGB layer**; but the former is more directed towards B2B transfers while RGB still needs more time to get ready for the market.”* said Bao Phuong Nguyen, who is also heading the OTC trade desk of BitcoinVN. https://blockstream.com/liquid/ https://github.com/rgb-org https://www.twitter.com/BaoPhuongNguyen http://www.bitcoinvn.io/en/otc
The rollout includes at this stage support as well for the BitcoinVN Online Brokerage as well as for the OTC desk for individual private clients. http://www.bitcoinvn.io http://www.bitcoinvn.io/en/otc
BitcoinVN allows its clients to buy and sell Cryptocurrency via all Vietnamese Banks and various other funding and withdrawal methods.
Original Source: https://news.bitcoinvn.io/bitcoinvn-lists-usdt-slp/?lang=en
Vietnamese Remittance Platform Cash2VN abolishes limits - Short Interview with Developer Alex Winter
*(exclusive content for read.cash)*
In the past month BitcoinVN-owned remittance service **Cash2VN** announced to remove all limits from their platform.Cash2VN is a service which allows senders to send VND to recipients in Vietnam via Cryptocurrency; among the supported Cryptocurrencies is also Bitcoin Cash. http://www.cash2vn.com
Alex Winter is the developer behind Cash2VN. Within the Bitcoin Cash community he is known for **Satoshiwall**, a bitcoin paywall service leveraging BIP-70 for non-custodial payments. https://satoshiwall.cash
BVNews: Hi Alex! Thank you for taking the time to speak with us. In the past week Cash2VN announced to remove any limitations from its service. Can you tell us more about what led to this decision which is surprising in the financial industry where regulations usually only seem to make products ever less useful for consumers?
**Alex: We have taken this decision based on a thorough internal risk assessment. As long as regulations do not outright prohibit a service from being less useful than it could be and the associated risks with it can be kept in check by our proprietary fraud alert systems, we felt comfortable to move ahead with this change.**
**Additionally at a time where the global economy and Vietnam itself is suffering from drastic economic slowdown, making it simpler to support/fund business and individuals in Vietnam via our service might prove useful for some.**
BVNews: You became a Bitcoiner in 2012; earlier than most. What fascinated you initially about Bitcoin and when did you realize this has the potential to become “a big thing”?
**Alex: I remember a friend from university telling me about this new internet money in late 2012. You can store it on your phone or computer without a bank being involved whatsoever. I bought some Bitcoin from a weird Polish exchange and played around with the Blockchain.info wallet.**
**I really liked the concept but I didn’t expect it to catch on for various reasons. Regular people wouldn’t want to “be their own bank” and are afraid of things like private keys or addresses which are seemingly random long strings of characters.**
**I ran a webshop selling libertarian merchandise at that time, and I started accepting Bitcoin along with a 10% discount. I realized the nerds just need time to geek-out on it, and sooner or later those issues would be solved.**
BVNews: After the 2017 Split, what led to your decision to personally spend more of your time on Bitcoin Cash compared to Bitcoin?
**Alex: That’s a story that has been rehashed countless times, so I won’t go into details. It boils down to the original promise of Bitcoin as a peer to peer electronic cash system. Bitcoin Cash is Bitcoin as far as I’m concerned.**
BVNews: You have been operating experience in regard to your service Cash2VN since 2015. Can you share with us some lessons learned along the way? Also what other potential service improvements are on the way?
**Alex: The number one lesson is that we have a completely different user base than we initially imagined. Cash2VN was supposed to be the tool for Vietnamese living abroad to remit money back to their families. Instead it’s mostly used by western expats inside Vietnam to quickly cash out crypto to cover their living expenses.**
**Vietnam recently tightened its banking regulations making it difficult for foreigners on a short-term visa to open bank accounts. We are currently in the process of completely rewriting Cash2VN and will be able to offer additional ways of delivering remittances besides bank transfers.**
BVNews: How positive are you about the future of Bitcoin Cash? What possibly disappointed you in the last 3 years? Any projects or developments you are especially interested in or excited about?
**Alex: The permanently lingering risk of another split is certainly a concern. The BSV split was already painful enough so another split will probably be the end of all hope for a lot of members of the BCH community.**
**Apart from that, I think there is enough reason to remain bullish. The fundamentals look great from a technical perspective. Recently Tether launched their USDT stablecoin on the BCH’s token layer SLP, finally enabling USDT transactions for sub-cent transaction fees.**
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If you are interested in more of Alex Winter, you can follow him here:
**Twitter** http://www.twitter.com/realalexwinter
Github https://github.com/sonofliberty
If you are interested in more advancements of Cash2VN you can follow them here:
**Twitter** http://www.twitter.com/cash2vn
**Facebook** http://www.facebook.com/cash2vn
@BitcoinVN_News
