1️⃣0️⃣ How to convert your FIAT money (BRL) to USDC or USDT to start investing in crypto
📅 Publication: 03/04/2025
🎯 Goal: COMPLETE STEP BY STEP FOR BEGINNERS
After depositing Reais (BRL) into your account #Binance , the next step is to convert that balance into stablecoins like USDC or USDT.
These digital currencies have their value pegged to the US dollar, making it easier to trade with other cryptocurrencies.
📌 What is fiat currency?
Fiat currency refers to traditional currencies issued by governments, such as the Brazilian Real (BRL), the US Dollar (USD), and the Euro (EUR).
🔍 Why is it recommended to buy cryptocurrencies using USDC or USDT instead of BRL?
I recommend converting BRL to stablecoins such as USDC or USDT before acquiring other cryptocurrencies for several reasons:
• Liquidity and Availability: Many crypto trading pairs on Binance are denominated in USDT or USDC, offering greater liquidity and trading options.
• Stability: Stablecoins seek to maintain parity with the US dollar, providing a stable value reference, especially in volatile markets.
• Ease of Conversion: Converting BRL to USDC or USDT simplifies the trading process, allowing for faster and more efficient transactions.
For a deeper understanding of the DIFFERENCES between USDC and USDT, I suggest you consult Binance's article:
https://www.binance.com/en/square/post/465755
📌 Step by step to convert BRL to USDC or USDT on Binance:
10.1 Access Binance Convert
• Log in to your Binance account.
• In the top menu, click on 'Trade' and select 'Conversion'.
10.2 Select the currencies for conversion
• In the 'Convert' section, set up:
• From: Select BRL.
• For: Choose USDC or USDT, according to your preference.
10.3 Enter the amount to be converted
• Enter the amount in BRL you want to convert.
• Click on 'View conversion' to see the exchange rate and the amount you will receive in USDC or USDT.
10.4 Confirm the conversion
• Review the conversion details.
• If you agree, click 'Convert' to finalize the operation.
🧐 Differences between investing with fiat currency (FIAT) and stablecoins (I MAKE MY PURCHASES IN USDT and/or USDC, NEVER IN BRL)
Investing using fiat currencies (such as the Real - BRL) or stablecoins (such as USDC or USDT) presents significant differences that can impact your investment strategy:
Fiat Currency (FIAT):
• Exchange Rate Volatility: By investing directly with BRL, you are subject to fluctuations in the exchange rate against the US dollar, which can affect the value of your investments.
• Limited Availability of CURRENCY Pairs for Trading: Not all cryptocurrencies are available for direct purchase with BRL, limiting your investment options.
Stablecoins (USDC/USDT):
• Stability: Because they are pegged to the US dollar, stablecoins offer a more stable base for investments, mitigating exchange rate risks.
• Greater Accessibility: Most exchanges offer a wide variety of trading pairs with USDC and USDT, providing more investment opportunities.
• Efficiency in Transactions: Transactions with stablecoins tend to be faster and have lower fees compared to those made with fiat currencies.
🔗 Useful links from Binance:
• How to use Binance Convert: Detailed guide on Binance's conversion tool.
https://academy.binance.com/en/articles/what-is-binance-convert-and-how-to-use-it
• Terms of use for the 'FIAT TRADING' feature for Brazilian users: Important information on the usage conditions of this feature in Brazil.
💡 Important Tips:
✔ Check the exchange rates: Rates may vary; always check before confirming the conversion.
✔ Familiarize yourself with the terms of use: Read Binance's Terms of Use to understand your responsibilities and rights when using the platform.
✔ Stay informed
✔ MY STRATEGY:
Whenever possible, I transfer reais to Binance and monitor the dollar's variation.
To optimize the conversion, I schedule automatic orders to buy USDT or USDC when the exchange rate reaches a lower value.
I do not convert the entire balance at once, but keep part in BRL to take advantage of favorable exchange opportunities.
After the conversion, I allocate 100% of the balance, whether in USDT or USDC, to Binance's Flexible Earn, ensuring passive income.
This strategy allows me to have liquidity for strategic cryptocurrency acquisitions at the ideal time.
I have a specific post about the DIFFERENCES between USDT and USDC:
🎯 Conclusion and Next Steps
✅ Now you know how to convert your balance from BRL to USDC or USDT on Binance, allowing you to start your cryptocurrency investments efficiently!
🚀 So far, we have set up:
✔ Interface Mode (Lite or Pro).
✔ Language and time zone.
✔ Account notifications.
✔ How to deposit BRL into Binance.
✔ Conversion from BRL to USDC or USDT.
📍 Next guide:
1️⃣1️⃣ How to Buy Your First Cryptocurrency – Converting Your Money into Cryptocurrency.
📚 Want to learn more?
The #BinanceAcademy offers free courses in Portuguese. Access and enhance your knowledge!
🔗 https://academy.binance.com/en
To follow this series, follow #CRYPTOFACIL and don't miss any post! 🚀
#CRYPTOFACIL (03/04/2025)
