Investors, from freelancers in Hanoi to sale officers in HCM City, have poured several million VND to several hundreds of million dong into Coolcat. About VND200 billion (nearly US$9 million) is likely to disappear.

Cryptocurrency speculation can help many people change their lives, but it entails consequences that not everyone is willing to accept the trade-offs.

The price for Bitcoin dropped by $11,600 during the past weekend, and many people began to worry about the end of the "uptrend" of Bitcoin. What are Vietnamese investors thinking?

Appearing on March 15, Alice tokens have created a fever in the market with the starting price of $16, catching the attention of Vietnamese cryptocurrency investors.

Cryptocurrencies are booming in Vietnam as investors consider them promising investments while Government agencies and experts warn of their risks.

Vietnam ranks second in terms of cryptocurrency use, driven by remittance payments, according to a recent survey by a global provider of market and consumer data Statista.

China this month started testing its sovereign digital currency, the so-called Digital Currency Electronic Payment (DCEP), putting pressure on Vietnam to research cryptocurrency in the context of international integration.

Experts believe that cryptocurrency is a growing international trend which Vietnam cannot resist.

VietNamNet Bridge - 2018 was described as a fearful year for cryptocurrency investors.

VietNamNet Bridge - The common characteristic of all the scams was that the heads of the cryptocurrency mining firms’ all promised sky-high interest rates for short-term investments.

VietNamNet Bridge - Though current income is just equal to one-tenth of a year ago for bitcoin investors, the income is better than an office job with a monthly income of $1,000.

VietNamNet Bridge - Vietnam has great advantages to develop blockchain technology because of its many talented math and science personnel, experts say. 

 Prime Minister Nguyen Xuan Phuc has required the State Bank of Vietnam (SVB), financial institutions, and other organisations providing payment brokerage services to intensify inspections and promptly report suspicious cryptocurrency transactions.  

VietNamNet Bridge - Bitcoin holders are feeling anxious as the price of the cryptocurrency has dropped dramatically.

Some projects related to blockchain will kick off and bring actual value, according to Luu The Loi, the first and only Vietnamese PhD in blockchain technology.

Just a short time after thaituancoin, a cryptocurrency trading floor, shut down, another appeared calling for people’s contributions. 

VietNamNet Bridge - The fruit from the 11-month rise in bitcoin price could be cleared away just after a few trading sessions.

Bitcoin has become a focal point globally with prices skyrocketing. On large bitcoin trading floors such as Bittrex, poloniex.com, wex.nz, the number of accesses from Vietnam is in the top 5.