How do Binance P2P traders get cheap USDT from?

shady185

shady185

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Basically the title. Do you guys have any idea about this? I saw many traders selling them at 9-10% above the price at which it currently trades in my country (India). Thanks.
 
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There might be a chance to do arbitrage here. Where is live the rate is 1.5% - 2.5%. I'm sure there is someone in this forum who knows how.
 
They buy cheaper and sell for more (just see the buy vs sell offers.. it will be clear)? Very simple math. Problem is, it needs a bit of an investment..

edit: oh btw, you may say how do they buy for cheaper? The answer is, they set the rate and place ads. If the price is good enough for someone they sell it for that (amount of usdt matters too).
 
I'm not sure I understand the logic here... If they are selling USDT 10% above market price... Meaning they're selling it for 1.1$ when it itself is worth 1$... What exactly is so mysterious about how they get it?

If they were selling them for 90 cents on the dollar, I'd say perhaps they are using different sites for arbitrage, like localmonero or similar type sites, paxful also comes to mind. You never know which way it goes, they might be taking the loss at binance to get gain elsewhere. Swapping anything to and from monero is big business, just like amazon gc basically.
 
BlurryBit said:
They buy cheaper and sell for more (just see the buy vs sell offers.. it will be clear)? Very simple math. Problem is, it needs a bit of an investment..

edit: oh btw, you may say how do they buy for cheaper? The answer is, they set the rate and place ads. If the price is good enough for someone they sell it for that (amount of usdt matters too).
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I think this is the way to do it. I will have to research more about it to know exactly how are they pulling it up. Thanks for your reply.
 
Just trading . USDT It goes up and down, like all crypto, right? There are ways to buy without being in front of the computer, a friend asked me to create a script where I would notify him when the price goes up or down (usually the apps inform you but only bitcoin), so when the price is lower for example $0.99 then buy and sell at 1.05, or 1.10, that's the strategy (if that's what you ask)
 
stiflex said:
Do you automate in any way? Or are you just doing it manually?

Where do you trade to avoid fees eating up all the profit?
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Manually. And fees are eating my profits. thats why Real Arbitrage is stable on 0.5% - 1%.
I have a team that helps me with that.
 
DavidG1510 said:
Manually. And fees are eating my profits. thats why Real Arbitrage is stable on 0.5% - 1%.
I have a team that helps me with that.
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If I start doing this here, I will face serious legal problems.
 
Brother there is only a room for 1%
Here is how i used to do it?

I post in Whatsapp status, facebook and many social media account who want to sell his Wise Dollar with instant Cash?
I get Cheap wise dollar. Convert them to USDT Using Binance p2p and then Sell them in my Native currency .
Easy 1% Profit.
 
Heymikal said:
Brother there is only a room for 1%
Here is how i used to do it?

I post in Whatsapp status, facebook and many social media account who want to sell his Wise Dollar with instant Cash?
I get Cheap wise dollar. Convert them to USDT Using Binance p2p and then Sell them in my Native currency .
Easy 1% Profit.
Click to expand...
no one will transact p2p without an escrow
 
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