VertPig (VTC) Crypto Exchange For Swapping Tokens With No Trading Fees
What Is VertPig?
Vertpig is a crypto exchange that was created by the team that designed Vertcoin. Once it is launched, it will have the three pairings of VTC/LTC, VTC/BTC, and VTC/GBP.
The platform is open to anyone from any country. The VTC/GBP is only available to residents of the UK. After its launch, the creators plan to add the VTC/EUR pairing. There is also a chance they will pair with more coins in the future. However, all the pairings will always be centered on Vertcoin.
Authentication On Vertpig
The platform will utilize the Google authentication system. For one to use Vertpig, they must either hold a google account or be willing to create one. All the security that Google implements for authentication will be available to Vertpig users. That means multi-factor authentication will also be available. For those in the UK that want to trade with GBP, they will have to go through KYC and AML verification processes.
Plans For VertPig
Upon launch, they plan to have at least the iOS app ready. Later on, they will launch an Android app. To raise awareness on the app, they will grow naturally through Twitter and the Vertcoin community. Once they are ready to expand, they will explore other marketing opportunities.
Purchases And Deposits On VertPig
Those in the UK will be able to withdraw or deposit funds via the Faster Payment Service. All deposits will be credited instantly. However, it might take as long as two hours in rare cases. All withdrawals will be processed and sent on the same day.
For now, the platform will not accept Credit and Debit card. In fact, they do not see any reason why they will even need to do it. By making bank transfers fast, free and simple, there is no reason why anyone will want to pay the 4% fee on deposits. Besides that, accepting card payments for crypto is a huge risk. In fact, all the 11 payment processors to which the platform applied rejected their request.
The VertPig Support System
The platform has a support ticket system combined with a live chat service. Upon release, these will be offered 24/7 to customers. At the initial stage, the CEO himself will handle all support tickets. Once the platform grows and the need arises, they will hire various customer service agents to handle the support.
To handle the growth of the platform, they will utilize the Google Cloud Platform that has the ability to scale as needed.
Selling And Buying On VertPig
The exchange will allow users to buy and sell as much as they need. They expect that upon launch, this exchange will attract many people. However, they want to ensure the platform grows in a manageable manner. It is the reason they are not investing in any marketing right now. Otherwise, they might be hit with more capacity than they can handle. Besides that, they plan to keep the trading fees attractive.