Hello friends from #venezuela I was a bit lost, but we are back now, I would like to clarify a question that I've seen very frequently. It is the following, can physical dollars be exchanged directly for usdt in the p2p market?
The answer is no, but there is a way to change your physical dollars with just two banking platforms without almost paying a commission, and quickly.
Very well we will need to have an account at Bancamiga, since with their card you can use it for international payments, an account on zinli, a very well-known payment platform. Once we have those two accounts, we will do the following:
We will deposit our dollars in our account at Bancamiga, then we will transfer them to zinli, the commission for this transaction is 3.75, which means if we want to exchange $100, we will have $96.25 in zinli.
Now that we already have our money in zinli, we go to the p2p market select the option for payments in $ and we will look for the best rate and advertiser available to us, generally the prices tend to be around $0.995 per usdt, which means we will get approximately 96.78usdt if we exchange our $96.25.
This is a simple way to exchange our physical $ to usdt, without depending on anyone and at the best market rate, it also helps new users to make transactions in the p2p and start getting positive ratings.
This is the method I use when I have physical $ and want to change to usdt, if you know a better way let me know, by the way have you seen the price of $BNB and $SOL has been falling a lot, I think it's a great opportunity to buy and make profits in a few months or even weeks.
#venezuela đ»đȘđ»đȘ, these days the currency $BNB has been showing a correction, after reaching historic highs at least a month ago, and since some of my friends from Venezuela are wondering which currency to invest in, well bnb is the answer.
Binance has market dominance as the largest cryptocurrency exchange currently. And as long as it remains dominant, the demand for bnb will stay strong.
The time is now, buy bnb to make profits, you can click here $BNB to go directly to the market.
Binance is not new in #venezuela but in the last year it has been having a surprising impact, obviously due to the scarcity of $ in the country, as usdt are often seen as digital $. Most individuals and businesses in the country already accept payments with Binance, which on one hand can be good since the biggest problem with using bs is that they devalue day by day, and the merchant has a better margin to repurchase merchandise and restock their business.
But the biggest problem I see is that at the time of making purchases in any business or individual, it is not clear what the value of a usdt is, there is no fixed rate, this can represent a problem since sometimes it is better to sell your usdt on the p2p market and pay in bs. For example, a product that costs 100$ and the business accepts the dollar at 250 bs, it is better to sell usdt and pay with bs since if we pay with usdt that are currently averaging 305 bs at the exchange rate, we would be losing about 5000bs, which we could use for any everyday purchase since it is a little more than 20$ at bcv. On the other hand, if the same product of 100$ has a discount when paying with usdt, it depends on how much it is whether it would be worth paying in usdt.
The conflict for Venezuelans to adopt Binance better is that the salary cannot match the p2p market and there is also a lot of lack of knowledge in the country. For example, if a person receives 10$ at bcv and goes to exchange them in the p2p market, they would receive more or less 7.2$, and this affects a lot of people since they think they are losing money, and sometimes it is not a lack of knowledge but simple fear. How many of us check every half hour how the market is doing, since cryptocurrencies and trading often tend to play with our minds, and at the moment we do not stay firm in the face of a drop or a profit-taking, that is when we can lose a lot of money.
How do you prefer to pay businesses and individuals? I read you.
đ»đȘ Venezuela learns to generate daily P2P income on Binance
đ€ What is P2P Arbitrage? Arbitrage in P2P is the practice of buying low and selling high a cryptocurrency, generally USDT, BTC, or BNB within the same P2P platform of Binance, taking advantage of the inefficiencies of the local market. To achieve profits, we must rely on the constant fluctuations of the exchange rate between bolivars and cryptocurrencies. As in the conversion through different payment methods. How to Do It Buy Cheap: Acquire USDT with a payment method that has lower demand (e.g., a specific bank transfer) at a lower price.
ALERT! Digital Gold $PAXG Reaches highs ($4,448) and the Correction gives us Opportunity
Digital gold has marked a milestone. PAX Gold $PAXG the cryptocurrency backed 1:1 by physical gold bars, recently climbed to a new All-Time High surpassing $4,448 USD per token, closely following the powerful rally of the precious metal. Behind this upward momentum are 3 Key Factors: đĄïž Global Instability: Persistent geopolitical tensions and high inflation are driving traditional and crypto investors to seek the ultimate safe-haven asset. Gold, and by extension PAXG.
The crypto world is full of acronyms and jargon that confuse anyone. đLet's define 8 key words so we can understand what they are talking about and help us not to fall behind.
1ïžâŁ ROI (Return On Investment): Return on Investment. It is the metric you use to know if an investment (or an arbitrage cycle) was profitable. It is expressed as a percentage of the profit obtained over the invested capital.
2ïžâŁ KYC (Know Your Customer): Know Your Customer. It is the identity verification process required by centralized exchanges (like Binance) to comply with regulations. It involves sending your identity document and proof of residence.
3ïžâŁ HODL: It is a derivative of the word hold. It is an investment philosophy that consists of buying an asset and holding it long-term, regardless of market downturns or volatility.
4ïžâŁ P2P (Peer-to-Peer): Person to person. It is a trading market where users buy and sell cryptocurrencies directly with each other using local money.
5ïžâŁ FIAT (Fiat Money): Money issued by the government. Simply put, the legal currency of a country issued by the government.
6ïžâŁ Stablecoin: Cryptocurrency that tries to maintain a fixed value. A digital asset whose price is pegged to a FIAT currency like the dollar.
7ïžâŁ Whale: Investor with a large amount of capital. They have such a quantity of cryptocurrencies that their buying/selling movements can significantly affect the market price.
8ïžâŁ FUD (Fear, Uncertainty, Doubt): Meaning: Fear, Uncertainty, and Doubt, is negative information (often exaggerated or false) that is intentionally spread to manipulate the market and make retail investors sell their assets at low prices.
Now you can speak fluently in the crypto world, which term was hardest for you to understand at first, tell me in the comments.
ATTENTION!! Earn FREE NEW CRYPTOCURRENCIES with Binance Launchpool
What is Binance Launchpool and why is it GOLD? The Binance Launchpool is a platform where users can stake their existing cryptocurrencies (mainly BNB and sometimes FDUSD or USDT) to earn tokens from a completely new project that is about to be listed on Binance. Basically, it's as if Binance is paying you for using and holding their coins by giving you tokens from projects that, when they hit the market, usually have high initial demand. We must take advantage of the launchpools and here are 3 key benefits:
#venezuela I would be interested to know what you all think about the p2p price, since last week it remained stable despite the fact that the BCV dollar continues to rise every day, and in fact, this week it has remained and even decreased.
Do you think it is the right time to buy and wait for the price to rise in the coming weeks?
#venezuela after the recent fall that the market suffered on Friday, I admit that I was scared to see how the cryptocurrencies I was holding lost value.
But I decided to take the risk and preferred to hold on and actually buy more $PAXG and I also took the opportunity to buy $SOL which was a coin that I was waiting to drop in order to buy it and I want to tell you that just after a few days I am seeing profits.
So friends, I do not advise you to invest right now in paxg because it is at its peak, I recommend waiting for its value to drop a bit, but you should take advantage and buy sol, which is on the rise and will continue to go up.đđ
In the recent drop, I set out to invest in a cryptocurrency that I had wanted for a while because I found Solana interesting due to its great utility in the crypto world, such as its extreme transaction speed and low fees. This is useful, for example, for decentralized applications like games and even trading platforms, as thanks to its speed and low fees, these apps can have great interactions.
In essence, the utility of Solana lies in its objective to democratize access to blockchain technology by eliminating the barriers of high costs and slowness, allowing Web3 to scale to levels of mass adoption.
Analysts have bullish price predictions for the end of 2025 and subsequent years, placing the target price in a broad range that goes from the current zone to over $400.
I believe that given the drop and since Solana is a token with considerable utility in the network, I think it is a good time to invest in it.
Cryptocurrencies backed by physical assetsđȘ, after the drop that the market suffered on October 10, I took the task of researching which cryptocurrencies had no losses or had minimal losses, and I realized that the ones that lost the least were those called (Real World Assets RWA) or cryptocurrencies backed by physical assets that can be assets in:
â Gold, like Kinesis gold which is equivalent to one gram of gold (not available on Binance) or Paxg which is equivalent to one ounce of gold.
â Silver, like Kinesis silver which is equivalent to one ounce of physical silver (available in Binance web3 wallet).
â Treasury bonds, projects like Ondo Finance, backed by quality assets such as BlackRock's institutional liquidity fund (USD Build), USDC, and bank deposits.
These coins allow small investors to access value refuges like (gold, bonds) with small amounts instantly.
And these coins managed to handle losses since while Bitcoin and the rest of the market suffered drops between 7% and 13%, gold tokens showed their value as refuge and stability assets, and the truth is that these tokens, depending on physical assets, serve us as tools for diversification and stability.
Although it is always important to be clear that we must research and review audits to avoid scams.
Do you already invest in any RWA? What do you think will be the next asset to be tokenized?
#venezuela Many new users are surely wondering what caused the market crash yesterday, October 10 in the afternoon. The most consistent and brief answer is that it was caused by the threat of massive tariffs from the United States.
Given Donald Trump's statements about the intention to impose or increase tariffs on Chinese products to very high levels. This, according to reports, is what may have caused the significant drop as cryptocurrencies, despite being an alternative asset, are very sensitive to global economic uncertainty.
And clearly, the vision of a new and major trade war between the two largest economies in the world (the United States and China) triggered a massive flight of capital from risk assets (Cryptocurrencies, stocks) to safe-haven assets (like gold), which caused chain liquidations.
There is also much talk that Binance and other exchanges did not allow buying or selling at the lowest points of this drop. What I have been able to seeânote, not on official sitesâis that there was a system overload due to panic selling and liquidations, and the crash was so sudden and violent that this extreme volume of transactions overloaded the platforms (Bitcoin fell more than 7%, Ethereum more than 11%).
That said, I would like to remind you that this has not been the first time that the crypto or stock market has suffered drops and corrections. It is our duty as traders to always remain calm, bet on stable coins with good futures, analyze well whether we want short-term, medium-term, or long-term gains, and trade based on those estimates. And if we are trading futures, do not leverage more than x10, as beyond that it is basically a gamble. Always use stop loss and use capital that we are willing to lose.
$BANANAS31 after this spectacular fall, do you consider it a good time to invest in bananas? As for me, I believe that the price should rise, and if it reaches 0.005, I will make good profits, so I will go to futures to leverage myself, I genuinely do not believe that the price will fall further
#venezuela in the midst of this market drop, the currency with which I did not suffer so many losses was $PAXG it fell, but just as it fell it recovered quickly, I consider it a good time to buy it, since its price is going up and it gives me a lot of security #caracasvenezuela #nuevosenbinance #P2P #PAXG
#venezuela I would love for this post to serve as a guide for new users who want to start trading futures. The crypto market is a battlefield, but the most dangerous war is the one that is fought in our heads. Why do I say this? Because our mind is designed to survive in a physical environment, not in the catastrophic uncertainty of trading, and this manifests itself with two key biases that clash with the trading market.
đ„The fear of losing: the fear of loss is a bias that makes us feel the pain of a loss twice as strong as the pleasure of a gain. And because of this, sometimes we close gains too early, or we hold onto losses much longer than we should out of fear of closing or confirming that we have lost.
đ„The search for reason: The confirmation bias makes us seek to accept information that confirms our pre-existing beliefs. The example in trading is that if we believe, say, bitcoin is going to rise, you will ignore selling signals or bearish analyses, focusing only on articles that validate your position. This leads to operational blindness and ignoring crucial data that could save our capital.
How can we overcome this? With point 1, the fear of losing, we must be clear about one thing that will be our best friend. The stop loss: We must set a strict stop loss point before entering a trade; when the price hits it, the operation ends automatically. This will take away the thought of whether it rebounds from our heads, and it will be a mechanical, not emotional, action.
And with point 2, we must be clear that we do not always have the reason, just like in every aspect of our lives when we start doing something new, we must inform ourselves since we do not have the experience. And as we act in such a volatile market, we must always inform ourselves, read, analyze, look for news about the currency we are going to trade, and even with that, even if we have done the best analysis, there will always be a possibility that the market goes against us.
Good #venezuela I want to share with you, I don't know if to call it a strategy, but it's a way that helped me this week to earn some USDT and protect my BS from inflation.
On Monday 06-10 early before 08:00am I exchanged the amount of 30,000 BS at a rate of 292.9 BS per USDT, which gave me the amount of 102.42 USDT.
(I made that exchange mainly because it was money I wasn't going to need during the week, and if I left it in my bank, I would lose it since the BCV rate that Monday was at 185.39 and today it is at 191.36)
Now, with those 102.42 USDT, I decided instead of just leaving them in my funds account, to buy some coin that I trusted would yield a small profit, and I chose $PAXG , which I already explained in a previous post is a coin backed by physical gold, where each token represents an ounce of gold.
And I must tell you that it went well for me, as I achieved my main goal which was not to devalue, those 102.42 USDT that I exchanged, I converted them into 110 USDT yesterday when I sold my PAXG at a price of 4050 USD, then when I wanted to exchange them today for BS, the exchange in the P2P market also favored me, as I bought at a rate of 292.9 BS and today I sold at 301.20, which also granted me a small profit.
This little story, I want it to serve as an example to many new users, mainly from my country Venezuela, as I know that most of those who come here intend to save and not devalue their BS, but it is not enough just to have USDT saved here, as much as possible we must also make them work.
This does not mean that we invest in meme coins and randomly in any coin that crosses our path, we must research well where we invest, at what point we should take profits, how much it can grow, it also greatly influences whether we want short or long-term profits. FOLLOW ME TO REACH A THOUSAND đđ
#venezuela The p2p market of Binance and the holding of USDT is one of the methods that is currently being used the most to dollarize our savings, due to the great scarcity of $ physicals in the country. However, we all realize that the price for a USDT in the p2p market is vastly superior to the price that the Central Bank of Venezuela offers for a $
Now, the first thing to keep in mind is that the price of the BCV is merely fantasy, as no Venezuelan bank can buy dollars at the price they set daily.
In Venezuela and other parts of the world, having USDT can have great advantages. For example, by having a USDT, you can make immediate transfers to anywhere in the world, transfer fees are almost negligible or very low, and having USDT opens up a world in the crypto market as it serves for trading, staking, or saving. You keep it protected in your account, with availability to use it at any time or to generate secure passive income like the earn section, something I am not aware of if any Venezuelan bank offers.
Venezuelan friends, we must realize that USDT is the dollar of the digital age and for us in our country, it benefits us to have USDT, as our currency is one of the weakest in the world and our economy has suffered great inflation over the years.
Hello #venezuela Seeing a lot of posts from people complaining about the price of usdt and discussing this topic with several people in my close circle, a question arises that I wanted to share with you.
There are many opinions about why the price of usdt in p2p in Venezuela is so far above the price of the BCV. I firmly believe that it is all a matter of demand; the merchant, seeing that dollars are no longer arriving at their business, looks for another alternative, and the average citizen also seeks a way to save and not devalue, all of this is caused by the fact that there are no dollars in the country and the BCV dollar price is pure fantasy, since no one can go to a bank in Venezuela and exchange bs for dollars at the imposed rate (185.4 as of today). That is the simplest summary I can make.
Now, usdt right now in the p2p market is being exchanged at 294.5. Well, if we have 100$ in bs at BCV price it would be about 18,540bs, that at how the p2p market is currently would be 62.95usdt
Ok, starting from there my question for people who still complain about the price of usdt is, Would you prefer to have in your bank account in Venezuela those 18540bs, or would you prefer to convert that into 62.95usdt and have them here on the platform generating interests and ready to invest in any currency like $PAXG or any other?