MY EXPERIENCE USING MY FAVORITE CRYPTO
I am a 42-year-old man living in Ghana. Like many others in 2020, I was growing frustrated with how inflation was eating into my savings. Prices of food, fuel, and even data bundles were going up, but my salary wasn’t. I started exploring ways where I could put my savings to hedge inflation. I herd about USDT but I had no idea how I could convert my local currency (Ghana cedis) into USDT and still have it. I went to the bank to open dollar accounts, but I couldn’t meet the conditions to open the dollar accounts.
I got curious about the USDT, I started reading and watching YouTube videos on how I could convert cedis into USDT and save.
In April, 2021 I bought my first 50 USDT through P2P. Each month, I added a little more from my salary. Over time, I built a habit, and investing in USDT felt like a digital version of putting money under my mattress, and it’s become my go-to for both investing and everyday transactions. What I love most is how fast and borderless it is. I’ve used it to pay for services online, receive funds from friends abroad, and even stake it to earn passive income. The low fees compared to traditional methods and control over my own funds make it feel empowering.
Savings accounts.
Instead of saving in local currency with my local bank, I now use USDT on Binance exchange as my savings account. At first, I didn’t know much about trading, so all I did was just to use my local currency and buy USDT and saved on Binance. It helped me reserve the value of my money. When inflation hit and the cedi dropped, I didn’t lose my money instead I profited from it because the dollar was trading at GH¢12 and currently, the dollar is trading at GH¢16.
Receiving Money from Abroad
My brother in the UK used to send me money via Western Union. The fees were ridiculous and it took weeks before I could receive it. One day, after gaining knowledge on how USDT transcends beyond borders l asked him send the money to me through USDT, my brother bought USDT on Coinbase and sent it to me via Binance wallet. The money arrived in seconds—and the fee? Less than a cent. Since them USDT has been the only way I receive money from my brother.
How I turn USDT side Hustle
As already indicated, I started exploring crypto as grounds for savings, not expecting much at first. Later, I dabbled in a few projects—in the Binance exchange like spot trading, and converting my USDT into other coins such as BTC and BNB and using them to make profit. I remember in 2023, I converted my 500 USDT into BTC for a while. At the time the price of the BTC was around $55,0000. The price of BTC shot up to $75,000 and that was a big hit for me. I converted the BTC to the USDT and was able to buy a plot of land and a motor bike with it.
Now I also engage in spot trading on Binance exchange, where I buy BTC and BNB and other coins my USDT at low prices and sell them at high prices. I also to put part it on my BTC on Binance earn where I earned passive income.
In conclusion, holding USDT is now like putting cash in my pocket while walking. I normally sell part of my USDT through P2P to take care of my expenses in times of need at any time anywhere.