Our main focus is to make the interaction between the user and the platform as easy as possible so that anyone could exchange cryptocurrencies, no advanced crypto/blockchain knowledge needed.
Another thing that differentiates us from other crypto exchange platforms is our team. All three co-founders are experienced developers, which is why vTrader is a very robust platform, fully integrated with the blockchain networks of the cryptocurrencies we trade, and with a high level of security.
Thirdly, unlike other crypto exchange platforms out there, we address the liquidity problem. This is a common issue in current cryptocurrency exchanges, yet a serious one as it can lead to platform failure. If the platform does not have a critical mass of users, when someone places an order to buy/sell at market price (or even below) and no one responds, they lose interest in the platform. We avoid this by ensuring the liquidity of exchange pairs through a system that automatically completes orders close to the market price, with orders placed by users of a considerably larger exchange platform: Bittrex.
Last but not least, we also focus on providing excellent customer support. We strive to be available 24/7 for our users and answer any questions about the platform, process, or team that they might have.
Strong focus on security — vTrader uses cold wallets to protect in case of cyber attacks
When you are “playing” with people’s money, you want to make sure that the highest security standards are met. And these are not just empty words; let me give you a concrete example.
Let’s say an attacker deletes the exchange transaction database. What will happen next is that transactions will be rebuilt from the blockchain. The attacker will not gain access to funds because we keep all money on cold wallets and Bittrex, and our users will have their accounts intact within hours.
vTrader has several layers of security that ensure customer safety:
- we use Cloudflare and Google reCaptcha services for protection against DDoS and Spam attacks
- we keep customer data on a database with limited external access to prevent theft
- we perform automatic backups at regular intervals to prevent data loss
- funds and cryptocurrencies are stored in cold wallets, and their private keys are not stored on the server; even if a hacker gains access to the database, he will not be able to gain access to the private keys.
Cryptocurrencies you can exchange on vTrader
For now, our users can trade Bitcoin, Ethereum, Litecoin and Ripple. The reason we chose them is that they are all in the top 10 as trading volume. Moreover, they have been audited by many trusted companies in the crypto community, so they are very secure.
vTrader KYC process is ensured by a fast, tiered verification
There are three types of transactions you can do on vTrader: deposits, withdrawals, and orders (exchanging one cryptocurrency for another).
Our KYC verification process also has three levels. When you are signing up on our platform you are, by default, at level 0.
To make cryptocurrency deposits, we will ask for your address (level 1).
To make deposits/withdrawals in EUR or crypto withdrawals, we will ask you to send us a photo of your passport/ID.
This tiered verification only takes minutes to complete. One thing to keep in mind though: our platform is available only for EU citizens.
As I have previously mentioned, we value our customers’ feedback so our priorities and feature development will depend on their opinion and wishes. Hence, we don’t have a definite Roadmap. However, there are three strategic directions we want to focus on this year:
1. The social component
Our biggest wish is to bring cryptocurrencies to the masses. Therefore, we have invested a great deal of time to optimize the user experience so that our platform is easy to use by anyone.
The first social feature we have implemented was vouchers. Any user can issue vouchers for people they want to invite on vTrader. When they create their account, the balance is credited automatically with the amount of the voucher.
Next, we want to launch our own iOS and Android apps. The main purpose of these apps will be FREE cryptocurrency transactions between users.
2. Trading tools
vTrader is a cryptocurrency exchange platform, not a trading one. However, we want to help our users by providing a minimal set of trading tools that are easy to use.
The first tool we want to implement is Stop Loss (SL), a tool that will help users limit their losses. Let’s say you bought $3500 worth of Bitcoin and you don’t want to lose $500. If you set up the SL at $3000, your request will be automatically executed when the market goes down.
Stop Loss also has a counterpart, Take Profit (TP). Using this feature, users will be able to set how much they want to earn and the sell will happen automatically once the market reaches that value.
3. Adding new cryptocurrencies
At this point, we don’t rule out the possibility of implementing new tokens in the future. However, we will only support projects that really deserve our trust.
A native token is also a possibility in the future, but we are currently focusing on infrastructure, security, and mobile apps.