RE: Venezuela Using USDT To Avoid Sanctions Showing Crypto Power
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As a Venezuelan I can say that the use of USDT is not related to yield nor any value USDT can have other than being stable and being on Binance. Maybe some entities and actual crypto users know about this and actually manage crypto, but a big volume of the usage is just to escape from having to buy and sell dollars (physical dollar, the bills) and because it's way easier and cheap to use Binance than Paypal, or Zelle, which because of those sanctions they are hard to use and illegal, although people still use them too, it's more about the access than the legality.
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I think now my concept is pretty clear on this topic thanks for clarifying.
You're welcome.
USDT to me a escape from the sanctions for a lot of us (well, for me it's HBD until I have to pay and I go to Binance, but some places do accept HBD here now) but not really for knowledge. I hope with the more adoption crypto gets, people starts to using it in a better capacity. So much benefit lost in just using it as a replacement for the dollar
USDT is a great replacement for dollar cause their price is almost same to dollar some how that is why it is called USDT even who knows.
Yeah. That is usually where people starts here, if they use it you can ease them to more.
Here it also has a particular benefit. Using Dollars carry a 3% tax on top of the other taxes you pay when buying a product. That tax doesn't apply when buying with crypto, even if paired with the dollar.
It also has benefits when cashing back to fiat, because of the dynamic of the Central Back dollar price and the black market dollar price. It goes against you when using the actual dollar and in your favor when using crypto.