VirgoX AMA Summary with Decentralized Club ✔️
Dear, Community,
Welcome to the recap on our recent AMA with “VirgoX” held on t.me/decentralized_club Telegram group . We appreciate everyone’s support who participated in the event . Some really good and thoughtful questions were asked. For those who missed our AMA or just want a read, this blog post is for you :)
✔️Introduction with VirgoX :👉
BILLY:
Q1. Can you guys please introduce yourself and also tell us a bit about VirgoX? @adamtor @sss00002018
adam:
Sure. My name is Adam Cai. I am the Founder & CEO of VirgoX, Co-Founder of the World Stablecoin association My background has been mainly focused on the financial service industry in Canada. I have worked in capital markets and hedge funds for about 7 years before starting my own venture. I had my master’s degree from Ivey business school, Western University. Passionate about crypto and blockchain since 2014. Long term crypto investors.
VirgoX is a revolutionary one-stop stable coin focused digital asset trading platform inspired by global adoptions of stablecoins and growing demands for integrated exchange services. VirgoX offers spot & contracts trading, crypto lending and multiple currency fiat onramp and offramp, all integrated into one place that truly meets users’ needs and beyond.
Actually during the school time, I travelled to India for 3 months and used to work there
therefore pretty excited to connect with the Indian community
BILLY:
Oh awesome. Where were you in India??
adam:
I was spending most time in Cochin
a small city but friendly folks and delcious food
BILLY:
Good to hear Adam
Q2. What is the advantage of VirgoX over other exchange in stablecoin trading?
adam:
VirgoX position our self as the world stablecoin trading center VirgoX provides extensive stablecoin trading pairs and incubates stablecoin projects from early stages to mature state. With its complete ecosystem ranging from spot & contract trading, lending, payments & remittance, VirgoX is able to offer sustainable values to global stablecoin projects and traders. VirgoX consistently innovates new product offerings in the rapidly evolving industry to accommodate users’ needs. We focused a lot on stablecoins related use cases. For example, you will be able to find quite a few stablecoins that aren’t listed with any of these exchanges. Also, you can trade FX futures up to 100 times with stablecoin. This is a feature other leading exchange doesn’t have either.
In short, we really focus on the ecosystem of stablecoins bringing different kinds of stablecoin on board. If there is an good Indian backed stablecoin, we would love to list too
and figure out the ecosystem around it . Trading, financial products, synthetix FX market
etc
BILLY:
That’s really unique to be honest. You guys are not going down the path of same old exchanges which are dime a dozen
Q3. What security measures have been made to make VirgoX secure? @adamtor
adam:
This is a good question. we actually used the best crypto security company in the world — Ledger vault . All of our crypto assets stored with them are covered up to 150 million U.S dollar insuarance.
We ensure clients can sleep safe and sound for the assets with us.
only less than 5% of them staying in the hotwallet.
BILLY:
Knowing this gives many people peace
Q4. What are the current promotions going on in which people can participate and win or earn ? @adamtor
adam:
Right now VirgoX has One event on going which is our APP testing month, people can follow our twitter to check the details. You can download from our website. Also, we are having multiple tasks for our user to complete in order to share a 20,000 USDT Prize pool . We also have a trading contest and lucky draw on the way. Follow us on twitter and join our discord for more information!
:) I don’t seem to be able to send any links here
but you guys are smart enough to find out yourself I beleive
BILLY:
Please try again
adam:
Right now VirgoX has One event on going which is our APP testing month, people can follow our twitter (https://twitter.com/VirgoX_Exchange) to check the details. You can download it from https://virgox.com/download. Also, we are having multiple tasks for our user to complete in order to share a 20,000 USDT Prize pool (https://twitter.com/VirgoX_Exchange/status/1299385048848891907) We also have a trading contest and lucky draw on the way. Follow us on twitter and join our discord (https://discord.gg/qEJPywu) for more information!
ok now it works. Thanks Billy
BILLY:
No problem
In addition to this. Also 15 people who have joined Twitter and telegram of VirgoX will get 10$ usdt each
Q5. How many active users do you plan on on-boarding by the end of the year?
adam:
VirgoX currently has around 20k active users trading on the platform and about 200K registered users.
VirgoX have a steady and passive plan to grow it’s user base and community actively.
For example 1. As the World Stablecoin Trading center, VirgoX will list various stable coins from different regions in order to get into local communities. As the founding member of the World Stablecoin Association（https://www.worldstablecoin.org/）, VirgoX will provide users with more access to stablecoins, give all stablecoin a platform to show themselves and incubate more promising Stablecoin projects.
2. VirgoX will only list high-quality projects, such as DeFi, Dao and recognized projects. We want to provide our users with the best choice of the markets. Provide opportunities for them to earn and trade.
3. VirgoX will launch its own platform token — VXT. VXT is gonna be huge in the market, it will be the gateway for DEFI and Stablecoins. For more information, we can find in this article https://medium.com/@virgox/vxt-token-the-gateway-token-for-global-stablecoins-and-defi-world-23eb165b2ac8
Exciting things are coming guys! And I know Indian community having massive potentials here.
We would love to service Indian friends well as I had deep ties to India in the past
🐧Community ask Questions by Twitter ✔️
BILLY:
Twitter Question no 1 (Sridhar Kumar)
Username : @sridhar_naini
What are the key benefits of VXT Tokens for users and traders of conventional cryptocurrencies?Do you think decentralized finance is better than traditional finance?If so, why?
adam:
DeFi is bringing a lot of values to the hard-cord crypto holders who want to put their assets into work and generate interests. We do believe with DeFi in place it will level up the traditional financial system and gives investors a whole different set of choice. However, DeFi is also complex to use for most starters and this is exactly why VirgoX coming into the picture to become the bridge between Centralized exchange and DeFi. User will still be able to earn decent returns + a super easy and friendly user interface and don’t need to worry about losing their private key
BILLY:
Twitter Question no 2 (Noah)
Username : @ketuart02
What trading fees discount are available on Virgox Exchange?If I hold the token, is there special benefit?
What is the progress of futures trading and margin trading on your exchange?
How often do you organise trading competitions on your exchange and are some available for noobs
adam:
holding VXT will entitle you 50% fee discount and you can use VXT as the token to deduct your fee. Furture trading is already avaialble and margin trading will be added toward the end of the year. You can find more info about our trading comp on our website. We orgnize that almost every week and the form is different
BILLY:
Twitter Question no 3 (Sergey)
Username : @MagnatSV
Top exchanges today are including asset management, as an investor I have lots of funds but don’t know how to trade effectively, how can VirgoX assist me?
adam:
absolutely, we do have VirgoX financial product section that has various options for you to select from. Different maturity date and return profile. We will add flexible saving + term deposits soon as well
Will:
Our Financial product has a market competitive yield, we launch different types of financial products every two weeks to accommodate different market conditions. The starting amount is minimal, the lock-up period is only 2 weeks, and the potential yield can reach 23%-25% annually depending on the different products you selected.
We have pretty good returns on our financial product
BILLY:
Twitter Question no 4 (Mohamad Angga Jakariah)
Username : @JakariahAngga
futures Has gain Momentum in recent times & Users are also leaving Binace future Platform & moving to VIRGOX Futures platform. What do you see as the main attraction point of VIRGOX Futures?
adam:
the main point is we are the first exchange that offers not only the crypto futures but also the FX futures as well. Therefore you can easily leverage stablecoins to trade FX futures.
BILLY:
Twitter Question no 5 (Fatimah Julian)
Username : @JuliaWhite22
Some exchanges are lacking customer service or customer support. Do you have a 24hr customer support service? How would you define good customer service in Virgox Exchange?
adam:
For VirgoX we will have 24 hour customer service available in our community. You can find our community manager and staff online in our telegram group and discord.
Right now VirgoX has https://t.me/VirgoX_India just for our Indian community.
BILLY:
Twitter Question no 6 (Cryptor)
Username : @JayRayCrypt
As an investor, I am interested in such functions as staking, landing, lending … and the profit that they bring. Does VirgoX plan to develop these features in the future?
adam:
absolutely, please take a look at VXT paper we do have road maps for this. More importantly, we have a great incentive designed . For most acitivies you did on VirgoX, you can earn VXT token as appreciation to contribute to the ecosystem
BILLY:
Twitter Question no 7 (Princess K)
Username : @molestika
Regarding traders and the possibility of being able to use charting tools and analytical indicators on the trading page, can traders obtain information from users or are they kept safe and confidential?
adam:
Yes. User’s privacy is our top priority. We will keep all the data safe and confidential. For users using tools and indicator, we made it easy for everyone. You can check our trading page to see: https://virgox.com/exchange
BILLY:
Twitter Question no 8 (Ale_urich)
Username : @Ale_Urich
• Do you have a system for reducing fees within VirgoX? Something like a VIP program or holding a certain currency to get discounts on transactions?
adam:
VXT will be the best way to reduce your fees. Also tiered fee schedule is coming as well
BILLY:
Twitter Question no 9 (Lekan Olonade)
Username : @Olonade02
Many people now prefer passive income without active trading. How can users make benefits from VirgoX_Exchange if they don’t like to trade?
adam:
Participate VXT, you can earn VXT by just providing liquidity to different type of our produce lines
BILLY:
Twitter Question no 10 (Andromeda)
Username : @MappLe_212
Do you have any Global Ambassadorial Program or Referral Reward system I can enroll in, to create awareness about Virgox Exchange ?
adam:
Yes. Rewarding our users is always the key. If you refer your friend to register with your referral code, you will get 30% fee sharing from all of your friends trading fees. (https://virgox.zendesk.com/hc/en-us/articles/360048093793-VirgoX-Referral-Program)
Please contact will if you are interested in becoming our Indian community maanger
Will:
For people who are intereted in VXT. Make sure you check this article https://medium.com/@virgox/vxt-token-the-gateway-token-for-global-stablecoins-and-defi-world-23eb165b2ac8
and join our https://discord.gg/qEJPywu
Right now if you leave your comments about VXT in our discord you will be able to participate in our discord lucky draw!
Yes. We are trying to reward our users! and stay tuned, we have a trading contest coming this week!
Make sure you follow our twitter https://twitter.com/VirgoX_Exchange and stay tuned!
✍️ Telegram live Questions answered by VirgoX ✔️
zafer metin:
Can crypto assets insured with Ledger Vault be disabled by deleting the project from the stock market?
Let’s say the crypto project was closed or removed from the exchange. Will the insurance coverage continue effectively against these risks?
adam:
Yes, 100%. Even if the crypto assets had a big drop, as long as the assets are with ledger vault it is insurced to the amount of token you deposited with us
Диего | Diego | ディエゴ | Satoshi Club:
How do you compete to attract traders to VirgoX with major exchange that provide many features such as OKex, Huobi, Binance? give me reasons why I should choose VirgoX?
adam:
Good question. The value proposition is different. we don’t compete outright on the coins these exchange have. We provide different coins / products and features. It is complimentary to the current CEX space. You should explore more with our website
Van Cam Hai:
Can you please cover a few points that you believe make Virgox stand out from the various other projects and why now is a great time for people to get involved with this Exchange?
adam:
stablecoin trading center, gateway for Defi, synthetix FX market , VXT entire new incentive token model
Van Cam Hai:
Can you please cover a few points that you believe make Virgox stand out from the various other projects and why now is a great time for people to get involved with this Exchange?
Will:
You Can also check our VXT article here: https://medium.com/@virgox/vxt-token-the-gateway-token-for-global-stablecoins-and-defi-world-23eb165b2ac8
Luis Zamora:
What’s the meaning behind your logo?
adam:
Virgo represents a horoscope. Some of you maybe Virgo. This is a horoscope that represents people pursing perfectionism. We take responsbilities and do things the best way it can