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Why isnât my investment growing?
A woman recently questioned why her $28 in Binance wasnât increasing in value. She had been drawn to #Bitcoinâ but mistakenly assumed USDT, a stablecoin, would behave similarly. Itâs important to understand the distinctions between stablecoins, altcoins, and Bitcoin itself.
Stablecoins like USDT are engineered to maintain a steady value, so you shouldnât expect any growth from them.
Altcoins, which serve as alternatives to Bitcoin, are highly volatile and can swing dramatically in price.
Bitcoin is also notoriously unpredictable, offering both substantial gains and losses.
Other tokens, such as meme coins or NFTs, are equally subject to intense price fluctuations.
If your funds are in USDT, they wonât appreciate unless youâre participating in a specific program offering minimal rewards. Stablecoins are designed to hold their value, unlike other cryptocurrencies that can rise or fall significantly but come with greater risks.
Why did I lose money if I had $28 in Binance USDT but now only see $20 in my bank account?
When you conduct transactions on any platform, fees ranging from 0.1% to 10% are applied depending on the platform and the currency being exchanged. As a result, the amount you receive when converting to fiat (real-world money) will always be slightly less than your original amount.
These transaction fees fluctuate based on the platform and the type of asset being sold. Additionally, the person purchasing your coins may also apply a commission. This is a standard part of the cryptocurrency exchange processâso don't be alarmed. Itâs crucial to recognize that a small portion of your funds will inevitably be lost when converting to fiat, but this is a normal aspect of trading and doesnât indicate any wrongdoing.
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