USDT should equals to USD Right? Am I wrong? Its Currently at - 86INR for India Users...

[email protected]

Jr. VIP
Jr. VIP
Joined
Aug 31, 2018
Messages
2,389
Reaction score
1,644
Isn't that USDT should equals to USD value always?
I just checked on Binance Its around 86 INR so if we deposit
That's almost more than 10% Loss already isn't it?

How do you guys get around these charges?

(If someone in USA deposit USD in their binance and transfer that USDT to our account in that case can these P2P charges will be eliminated or it will be same in that case as well?)
 

Brickbat1

Jr. VIP
Jr. VIP
Joined
Mar 22, 2010
Messages
1,337
Reaction score
760
Isn't that USDT should equals to USD value always?
I just checked on Binance Its around 86 INR so if we deposit
That's almost more than 10% Loss already isn't it?

How do you guys get around these charges?

(If someone in USA deposit USD in their binance and transfer that USDT to our account in that case can these P2P charges will be eliminated or it will be same in that case as well?)

Usually there are two rates in every economy, official rate and black market rate
which are you using to estimate this?
 

kingvestor

Jr. VIP
Jr. VIP
Joined
Jun 26, 2016
Messages
416
Reaction score
236
Website
kingvestor.com
perhaps this could answer a little
 

[email protected]

Jr. VIP
Jr. VIP
Joined
Aug 31, 2018
Messages
2,389
Reaction score
1,644
Usually there are two rates in every economy, official rate and black market rate
which are you using to estimate this?
I am not so sure which black market are you talking about
I am saying its on Binance the Current USDT is INR 87 (P2P) which should be 73 if it equals to USD as they claim to be
perhaps this could answer a little
Thanks for the sources.
So, this so called stable coin is not stable in real its like people sell at any price they want ( It will never be 1 USD₮ = 1 USD)
In that case this is kind of gambling all the way :rolleyes:
 

Brickbat1

Jr. VIP
Jr. VIP
Joined
Mar 22, 2010
Messages
1,337
Reaction score
760
perhaps this could answer a little

First article is mind blowing! Shorting the crypto long term until the correction wipes out 70% of marketcap is the direction of the markets. But meanwhile, sentiment of "buy the dip" will cause wild fluctuations up and down...perfect for making money on both sides...
 

Brickbat1

Jr. VIP
Jr. VIP
Joined
Mar 22, 2010
Messages
1,337
Reaction score
760
If Current USDT is INR 87 (P2P) , it means someone is trying to bank more real cash for imaginary-valued Tethers. Shouldnt be buying Tethers with these reports, shoukd be selling them.
 

Agencylife

Newbie
Joined
Jul 8, 2014
Messages
8
Reaction score
2
so thing is you are probably buying from wazirx which is 10% more than binance
if you are buying p2p its 2-3INR more than normal rate usually
right now as there is a blood bath in the market , USDT soars at 86 in wazirx , normal usd to inr conversion is 73.22 if you check google
the reason for this is , due to the dip people are selling and receiving money in USDT and that cause a huge rise in price
its like 82 when i first checked this morning at around 5AM , now it is touching 86-87 , this is normal exchange rate at wazirx , if you check p2p its probably 90+

hope this helps
 

ashish2112

Regular Member
Joined
May 1, 2018
Messages
237
Reaction score
27
Dude there should be any site that directly provide at better rate
75 for me will be fine but 80-85-90 is like already going in 10-20% loss
 

theRevolt

Jr Vip
Jr. VIP
Joined
Jul 29, 2009
Messages
2,918
Reaction score
2,107
Lol crypto and stable in one sentence, hilarious.
Who would guarantee you the $1 value? The central bank? Lol
You already see where this is going , only as stable as the entity which provides the guaranteed value, which here is ????
To the moooon
 

OlafRustle

Senior Member
Joined
Dec 7, 2018
Messages
872
Reaction score
1,009
The value of money hasn't been back by anything other than belief in a long time. Better get used to it or start buying gold
 

akunbajak

Regular Member
Joined
Apr 25, 2021
Messages
212
Reaction score
113
The value of money hasn't been back by anything other than belief in a long time. Better get used to it or start buying gold
It backed by the military and the economy. If you dare to buy oil not using dollar, Uncle USA will give you freedom to your country
 

onlinemarketer12

Jr. VIP
Jr. VIP
Joined
Nov 22, 2019
Messages
3,864
Reaction score
888
perhaps this could answer a little
Scares me. Is it really going to happen now ?
 

[email protected]

Jr. VIP
Jr. VIP
Joined
Aug 31, 2018
Messages
2,389
Reaction score
1,644
Dude there should be any site that directly provide at better rate
75 for me will be fine but 80-85-90 is like already going in 10-20% loss
Yeah said same thing and I came to a conclusion there no such thing if you want to gamble you to take that 3-4% default loss there is no other way.
(But if you can grab more USDT at less price wait until it goes up you can just live up on that margin that's almost 1 year Fixed deposit Interest in the regular money market :) )
Lol crypto and stable in one sentence, hilarious.
Who would guarantee you the $1 value? The central bank? Lol
You already see where this is going , only as stable as the entity which provides the guaranteed value, which here is ????
To the moooon
I just got started with it and when I read from their official site, I though it should be equal but they changed everything later it became thing the goes as per the demand.
The value of money hasn't been back by anything other than belief in a long time. Better get used to it or start buying gold
I am just testing small portion of my Income to see if it actually worth the risk.
And coming to the gold, Don't know in other countries, in India most of the people cant Imagine there life without gold.
We are obsessed with Golden Jewellery (I guess more than any other country) :D
 

devanshu0987

Newbie
Joined
May 22, 2021
Messages
1
Reaction score
0
Read about Havala system.
Find an Indian in US/Europe. Ask them to buy USDT on your behalf and transfer them to you.
IN turn, you pay that person in INR to their Indian account.
Most of the indians need to send money back home and it takes some charges. That is your leverage.

Stable coins are pegged to 1$ via various means. But if the demand is super high in the market, like it happened a few days ago,
the supply is not able to match and hence the prices increases to $1.0x. Recently the reverse also happened. USDT went to 89 cents.
All due to mismatch in supply demand.
 
Top