[RECAP] TALK SHOW: Vietnam Blockchain Market after Bitcoin Halving
The “Talk show: Vietnam Blockchain Market after Bitcoin Halving” took place successfully on May 18, 2020 with the participation of famous guests and nearly 500 representatives of projects from all over the country joined in. Below is a recap of the talk show. Enjoy reading!
1/ Thuat Nguyen (Coin68):
About me and Coin68, Coin68 is one of the first largest media in Vietnam since 2017. We have worked with hundreds of top projects and exchanges. Moreover, we are the first and only unit in Vietnam to have an exclusive interview with Binance co-founder and CEO — Changpeng Zhao.
About Vietnam Blockchain Media, compared to Blockchain Media in China, Vietnam has a smaller number of Blockchain media and communities, and most of them operate under the investment community model. Specifically, Vietnamese investors tend to trust KOLs and participate in discussion groups, rather than merely reading the news. Therefore, in order to thrive, you should own a community, with 1–2 KOL.
Regarding the COVID-19 translation problem, the crypto market is not affected much, users and investors are always positive. In my opinion, the present time is an opportunity, the pandemic will eliminate weak projects, and only strong and potential projects will survive. This will help purify the market, and create a more complete blockchain industry.
In addition, the main keyword for the current Vietnamese market: futures contracts. People are very fond of this product, because they can make a profit quickly and without being buried. This is an opportunity for exchanges, take advantage of it.
With new projects looking to enter Vietnam, my advice is to be patient, keep long-term relationships with the community, and carry out persistent activities. Investors are experienced and demanding, so do not expect too much that you will receive high and immediate returns.
In the coming time, all offline activities in Vietnam will be allowed to open. I hope to see more Chinese expansion and development projects in Vietnam! We also organize monthly offline events in both Hanoi and Ho Chi Minh City. The next time there will be in the next 10 days in HCM. If you are here and would like to join us, please contact me now.
2/ Kyn (Tomochain):
First of all, I would like to introduce the Tomochain project. TomoChain is the largest public blockchain from Southeast Asia, powered by Proof-of-Stake voting. We are developing a DeFi product suite that makes it easy to use in the mass market. In addition, we are currently working with a number of major partners such as Neo Blockchain, Chainlink, and Crypto.com. Our masternode network is also run by leading companies like Binance, KuCoin, Neo Global Capital, CoinGecko, HashQuark, and CoboWallet.
In my opinion, Vietnam’s blockchain market is quite “busy”, despite the poor economic situation. A lot of projects were born, and received significant attention from the community. We have also witnessed many large companies, from projects to exchanges, striving to boost development here. The market is too small, and opportunities are numerous. Therefore, we are always looking forward to working with all parties to develop together.
Currently, the aspect affecting the development of the Vietnam Blockchain space is the regulation. Using blockchain as a direct payment is not allowed in Vietnam. However, the government has not hindered development as this market has great potential to help Vietnam become the center of Southeast Asia.
As far as I know, the Government is also actively monitoring and learning about blockchain development. TomoChain has talked with the Ministry of Justice several times to give advice including participating in a symposium to discuss the legal structure at the end of last year. Last week, the Vietnamese Ministry of Finance gathered a research team to study and determine policies for the country.
I am waiting for positive news to come to legalize businesses that want to combine the use of blockchain in the country.
3/ Tracy (Bigcoinvietnam):
First, I would like to share about BigcoinVietnam and what we are doing. BigcoinVienam is a leading investment fund and marketing company in Vietnam. We have had 3 years of experience and worked with more than 100 projects/accelerators/exchanges both local and international: Hello Global, ARPA, Ankr Network, Huobi, Tomochain, etc. We support them to explore and exploit the Vietnamese market, making it easy for them to optimize their development strategies.
Regarding the market situation, unlike many countries, Vietnam successfully controlled the COVID19 epidemic, and everything was back to normal. In fact, even in times of boom, investors and traders are still very active. The number of daily transaction users is the most prominent feature of Vietnam. You can see on the statistics page, Vietnam always ranks in the top in this respect, especially in the futures trading segment. Recognizing this point, in the past few months, many exchanges have entered and set Vietnam as one of the core developed markets. This is the perfect time for this product, when the market is volatile.
Even so, you also need to own a unique advantage (USP), because the market no matter how “fertile” there will be competition. When you have this, my next advice is to combine with the media, leveraging the power of all the community in the market. In Vietnam, you should focus on the following 2 channels: Facebook for news updates and Telegram for daily discussions. In addition, when entering the Vietnam market, find a representative (community manager) to build channels and work with local partners. Then, cooperate with them to develop the brand and spread the fastest.
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These are my experiences and comments after a time working with partners. Hopefully, they will help you have a better overview of the Vietnam market. If you need more information and support, let me know.
4/ Do Bach Tri (Hello Global):
First, I would like to introduce our trading platform. Hello Global is a cryptocurrency trading platform built on the basis of the Huobi ecosystem and using Huobi cloud technology. We provide financial services including but not limited to spot trading, margin, otc, staking, and futures (coming soon). With OTC, we support up to 25 fiat currencies, including VND. Working with Huobi helps us ensure liquidity, security, and reliability. In addition, we also focus on development in Vietnam, when the main office is located in Ho Chi Minh City and has a professional local staff.
Next, I would like to share with you my opinion about the cryptocurrency market in general and the Vietnamese market in particular.
For me, the present moment is the repetition of 2008 — the economic crisis. Looking at history, the economy will recover strongly after the crisis. Therefore, you do not need to be too concerned, Bitcoin will soon grow again. The main thing to do is wait.
As noted, there are many projects and exchanges created by Vietnamese. However, so far, most have not received the attention and trust of domestic users and investors. The main reason is that the quality is not good enough, the financial potential is not large enough, nor is there any outstanding factor that makes these exchanges different from the rest. Therefore, I recommend you to develop a unique and unique product, then create a trust for users and persevere in pursuing. This is the best way to succeed.
Last but not least, regarding trading habits in Vietnam. Currently, the main trends are margin trading, futures, copytrade as well as bot trading. These forms are not really new, but are receiving support from users, especially those newly involved in the cryptocurrency market. However, any trends will soon pass, so for each stage, you need to have a specific plan. Preparing in advance always brings success.
5/ Mao (Blockspaper):
Our media site, Blockspaper.com, always shares the latest blockchain and fintech news in Southeast Asia, serving as a leading guide in the field of cryptocurrency investing. In addition, our team consists of experts in finance, traditional technology, and blockchain field from JPMorgan, Alibaba, AWS, eBay. This is one of our advantages.
Blockspaper aims to “diversify languages and markets”. Therefore, we provide multilingual content, including Thai, Vietnamese, Chinese, and English.
With the blockchain industry, we look forward to creating more useful functions, and have now created some products. Specifically, the job posting function for cryptocurrencies makes it easier for people in Southeast Asia to find cryptocurrency jobs. Community function allows users to simultaneously broadcast their AMA on the website. You can also post anything related to blockchain or ask, answer questions here. We are currently making the APP and hope to launch it this year.
With the Vietnam market, we are still quite new, and need to learn more. In the coming time, we will endeavor to share more in-depth research articles on areas of interest to Vietnamese investors. In addition, we will also implement more AMAs on blockchain technology; organize and sponsor events, offline sessions, etc. Accordingly, we hope Blockspaper will be a bridge between the Vietnamese community and overseas blockchain companies.
6/ Jeff Shi (Bcoin):
Bcoin is a support tool for cryptocurrency trading in China, including futures contract data services, and most prominently, is copy trading from KOLs. Currently, this product has more than 200,000 registered users, and receives attention from hundreds of crypto trading communities. In addition, we have more than 15,000 users directly recording their margin transactions and allowing people to copy. In the past, we have also partnered with the most influential KOLs in the Chinese crypto market.
Best of all, Bcoin also provides a reminder system on the App, Wechat, Messages, and Phone Calls to help users better access the market.
Because of the COVID19 epidemic, I had to stay in Ho Chi Minh City for 4 months. It was a difficult time for everyone. As a foreigner, I always work from home, do regular checkups, and cooperate with local police. My Vietnamese colleagues have helped me a lot, not only at work but also in life.
Rents and offices are not as cheap as you think, it’s similar to Shanghai, about $ 2000 per month. Foreigners will be banned from opening accounts by local banks after the end of this month. Therefore, it is not convenient to live and pay.
Everything has two sides, we also use this time to focus on our Apps in Vietnam. It has been completed, you can download it via this link vn.bcoin.info
Finally, if the Chinese crypto company wants to develop the Vietnamese market, you can connect with Dawns or me, we will try our best to help you. Thank you.
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