as simple as going to a private or public Venezuelan bank to buy $ and there is none. Whoever manages to obtain USDT with effort sells it at a price that another hardworking person is willing to pay.
Post
Einstein_R
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BCV and USDT WHY THE DIFFERENCE???
A few hours ago, I saw a post about someone from Venezuela saying that Binance should pay attention to that speculation, and the truth is many people ended up insulting him.
BUT, maybe there are people in Venezuela who honestly do not understand well why this is, so if you are one of them, I will give you a simple explanation so that you don't think you are being scammed..👀👀
The BCV Dollar: It is the one established by the Central Bank of Venezuela. This is the official exchange rate, which is used for formal banking transactions, declaration of imports and exports, or tax payments, but this rate does not reflect the real demand that exists on the street.
The USDT Dollar (Tether): It is a stable cryptocurrency, and its value is pegged to the US Dollar. The issue is that its price in Bs is established in a decentralized and free market like the P2P of Binance, and it is governed by supply and demand (being the one that most reflects the reality of the economy of Venezuela).
With the BCV being the official market and USDT the informal market, both operate under different rules, and the amount of USDT is what people are willing to pay to prevent their money from devaluing 🫰.
Benefits of holding USDT in Binance
You do not depend on banks.
Ease of use (you can sell them at any time, even during the night, the P2P is active) or you can cancel directly in USDT quickly.
Most importantly, your money does not devalue; on the contrary, within Binance, there are several ways to make your money work for you.
I hope if you were confused, this helps clarify doubts and buy your #Usdt with peace of mind.
#USDC
A few hours ago, I saw a post about someone from Venezuela saying that Binance should pay attention to that speculation, and the truth is many people ended up insulting him.
BUT, maybe there are people in Venezuela who honestly do not understand well why this is, so if you are one of them, I will give you a simple explanation so that you don't think you are being scammed..👀👀
The BCV Dollar: It is the one established by the Central Bank of Venezuela. This is the official exchange rate, which is used for formal banking transactions, declaration of imports and exports, or tax payments, but this rate does not reflect the real demand that exists on the street.
The USDT Dollar (Tether): It is a stable cryptocurrency, and its value is pegged to the US Dollar. The issue is that its price in Bs is established in a decentralized and free market like the P2P of Binance, and it is governed by supply and demand (being the one that most reflects the reality of the economy of Venezuela).
With the BCV being the official market and USDT the informal market, both operate under different rules, and the amount of USDT is what people are willing to pay to prevent their money from devaluing 🫰.
Benefits of holding USDT in Binance
You do not depend on banks.
Ease of use (you can sell them at any time, even during the night, the P2P is active) or you can cancel directly in USDT quickly.
Most importantly, your money does not devalue; on the contrary, within Binance, there are several ways to make your money work for you.
I hope if you were confused, this helps clarify doubts and buy your #Usdt with peace of mind.
#USDC
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