HANOI, Vietnam--(BUSINESS WIRE)--As cryptocurrencies gain traction around the world, Vietnam is attracting global attention over surging crypto adoption within the Southeast Asian country.
Vietnam ranked as the world leader in crypto adoption among 154 countries, ahead of major economies such as the USA, China and Russia, according to the 2021 Global Crypto Adoption Index compiled by global blockchain analytics firm Chainalysis. Vietnam’s leadership is despite a prohibition on the use of cryptocurrencies in the country.
Launched in 2021, MoonXBT has established itself as the third-largest crypto trading platform in Vietnam in less than a year with a strong foothold among P2P trading platforms operating in the country.
This is no mean feat as Vietnam is one of the most crypto-engaged countries in the world, ranking fifth in terms of access to cryptocurrency websites and trading platforms, according to market research company CryptoCompare.
MoonXBT is best known for its convenient, efficient and easy-to-use service for trading cryptocurrencies. High liquidity and high leverage are also why MoonXBT is increasingly the platform of choice for seasoned traders and newcomers alike.
By depositing 5,000U in MoonXBT, traders can open a 100X leverage position (up to 150X), compared with 20X on other exchanges, to buy Copycat Finance.
With features such as copy trading and social trading, MoonXBT allows expert traders to become influencers. It forms stronger consensus and encourages traders to use crypto on the platform as well as in other scenarios, helping to drive crypto adoption, according to Lee.
The platform has consistently strived to provide diversified service for crypto traders, such as through the launch of Crypto Options trading, which guarantees lower risk and higher profits.
In options trading, users are saved from the constant worries of liquidation or staring at the price charts.
To help newcomers quickly familiarize themselves with crypto trading, MoonXBT offers a demo mode that enables users to experiment and test their strategy, and one-click copy trading services for green hands to replicate trading strategies of experienced professional traders.
MoonXBT empowers users to understand and profit from crypto trading. On top of the professional and efficient trading services available for BTC, ETH, and many other cryptocurrencies, MoonXBT has developed a thriving virtual community for traders to meet and socialize with peers. Every day thousands of active MoonXBT users freely share and discuss trading strategies, or analyze the latest market leads.
“MoonXBT presents itself as a social trading platform not just by name but with substance,” said George Lee, COO of MoonXBT.
This community engagement has helped MoonXBT lower the barrier of entry for users, which will facilitate even greater crypto trading in Vietnam. P2P exchange-traded volumes in Vietnam soared to the third-highest worldwide in 2021, compared with 81st in 2020, according to Chainalysis’ Global Crypto Adoption Index.
This growth has attracted the likes of crypto payment platform Wirex, which debuted in-country last year. Even Vietnam’s central bank is getting in on the action as it is exploring the creation of fiat digital currency, underlining the country’s potential as a global crypto hub.
Going forward, MoonXBT plans to roll out new features such as warrant trading, spot trading and perpetual contracts, as well as trading of products related to non-fungible tokens (NFTs) and GameFi, a combination of gaming and finance. A decentralized exchange built on blockchain technology is also in the works at MoonXBT.