What is the most beneficial and safest way to deposit money into your Binance account?! 🤔🤔🤔 #TradeCoinVN @Binance Customer Support
Two problems when trading crypto on Binance cause more anxiety and risk than options for trading stocks or depositing money in banks.
1. The difference between the USDT purchase price and the USD to fiat currency ratio at the bank is too large. The difference is up to 5%?!
Specifically: USD/VND = 24,785. Buying USD with VND at any method is over 26,000. Equivalent to actual difference of up to 5%.
So, why did I immediately incur a 5% loss when depositing into my account?! If you reason backwards, when you sell (withdraw money), you will gain 5%. But in reality, the amount of money deposited to buy/sell crypto from the beginning already has 100% of its value, so making a profit from crypto to compensate is more difficult.
2. Any deposit transactions are not protected by local laws. P2P transactions cannot mention crypto or anything like that. Ask the question, if a withdrawal transaction but the depositor intentionally provides information to crypto, how will the withdrawer be affected?!
The above two issues greatly affect the investment amount and investment term for trading on Binance. Especially deciding to average DCA price when you are losing money.
Hope everyone can discuss more.