Cash transaction first appeared in Vietnam on the T-Rex Exchange

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2021-03-23 09:22:50

The market recently is “hotter” than ever, after news that the US and Iran are in a period of stress, the price of Bitcoin (BTC) has skyrocketed from 7600 to 8500 within 2 days. Besides, we also receive a series of new updates from domestic and foreign exchanges. In which, T-Rex Exchange has launched a rather new function, that is: Cash Transaction.

This shows that the T-Rex Exchange still follows the original direction we analyzed: Multi-form of payment to own BTC. Currently, T-Rex has launched the following transaction methods:

  • Bank transfer: This method is quite popular with the current OTC exchanges on the market. But unlike other OTC exchanges, T-Rex applies a P2P platform, meaning users can choose a partner and pay directly to their partner, not deposit VND into an exchange account as we often see. . P2P is adopted by leading exchanges such as Huobi and Okex for its safety and unlimited scalable network of users.
  • E-wallet: This is quite prominent on the T-Rex floor. You can buy Coin and use Momo, ZaloPay, ViettelPay, VinID and Moca to make immediate payments to your partner. Very fast and convenient.

Not only that, on January 3, 2020, T-Rex launched another form Payment in cash on his floor. For those who want to receive cash directly from their coins, they can post them on T-Rex with the following important notes: Number of coins and transaction location. This form of payment is quite popular abroad. Especially countries like the US, Australia, …

Advantages:

  • Avoid the risk of fraud when the money is finished but the partner does not transfer the coin.
  • Get cash, extremely high cash flow anonymity.
  • Suitable for foreigners who play coin to Vietnam but cannot bring much cash through the airport
  • Fast but secure transaction process

Defect:

  • Outside of Ho Chi Minh City and Hanoi, it is difficult for other locations to find suitable partners
  • Physical risk when dealing, should trade where there are many people like banks or cafes.
  • Cash transaction habits of the Vietnamese market are not many.
  • The price is not the same as the online transaction.

Overall rating:

  • The first form of cash payment appeared on an exchange in Vietnam
  • Quite suitable for some objects of foreigners or overseas Vietnamese returning home.
  • High anonymity, however, is difficult to find partners that match the geographic location.
Figure 1: Cash receipt transaction on T-Rex

T-Rex is very active and has a clear goal for the development of more forms of payment on the floor. Let’s wait and see what they will add in 2020 to be more suitable for the Vietnamese market besides 3 forms of payment: Online, electronic wallet and cash.

T-Rex floor: http://bit.ly/TRexCashtrade1

T-Rex Exchange Official discussion group: https://t.me/T_RexOfficialGroup

T-Rex Exchange Official news channel: https://t.me/T_rexOfficialChannel

News website: https://news.t-rex.exchange/en/home-2/

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