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.
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.
