Exchange is the transaction of swapping assets in pairs from VNDC to another token and vice versa.
In VNDC Wallet, there are two types of exchange rates, which are updated every 10 seconds.
- The Ask price, also known as the selling price, will usually be higher. The price displayed in the Invest feature or on the token detail page is the Bid price.
- The Bid price, also known as the buying price, will usually be the lower price. The total value of the user’s assets is calculated according to the Ask price.
Note: 1 VNDC = 1 VND. VNDC is a stablecoin pegged 1:1 to Vietnamese dong (VND) like USDT is pegged to USD.
We do not charge a fee when you exchange. By swapping on VNDC Wallet, you will be matched by VNDC on order books of major exchanges.
How to use the Exchange feature? A step-by-step guide
Method 1:
On the main screen, tap on Exchange at Features or Exchange icon at the middle of the menu bar.
Select the asset you want to buy (below) or the asset you want to sell (above). Enter the number of tokens you want to swap, press Max to select the maximum amount.
The exchange rate, minimum transaction, and available balance are all listed below. You can press the reverse icon to reverse the swap.
Tap on Exchange and confirm. The system will notify you when the transaction is completed.
Method 2:
On the main screen, select Invest at the menu bar.
Find and check out the token’s detail. Select Sell or Buy token.
The exchange rate, minimum transaction, and available balance are all listed below. You can press the reverse icon to reverse the swap. Enter the number of tokens you want to swap, press Max to select the maximum amount.
Tap on Exchange and confirm. The system will notify you when the transaction is completed.
Note:
Exchange on VNDC is actually making orders on major exchanges (Binance, Kucoin, Nami,…) into Buy/Sell Market orders, matching the p2p price of the asset being traded at that time. There will be a price fluctuation due to the transfer of VNDC – USDT, but there is zero commission.
Because it is a Market order, the more you buy, the more “expensive” it gets, the more you sell, the “cheaper” it is —>, so you shouldn’t swap a large volume in one time. It would be best if you split it up into multiple transactions. You need to check the price carefully before clicking to confirm the exchange.
And one more point, VNDC is a wallet, not an exchange, so VNDC is just an intermediary. That is, when you convert, VNDC will transfer orders to match the bid and sell prices available on partner exchanges. The higher the distance between buying and selling orders on the partner exchange, the higher the conversion difference. In fact, the spread between buying and selling on exchanges is usually 2% or more.
