💥 What devalues our currencies..??? 💥
📚 First, depositing a fiat currency (like the dollar or the euro) in Binance does not devalue its value
📚 The devaluation of a fiat currency occurs due to macroeconomic factors such as inflation, not by the act of transferring it to an exchange platform.
📚 The deposit simply transfers the value of your fiat money to the platform so that you can use it, for example, to buy cryptocurrencies.
💥 Why is it not devalued..?💥
📚 Causes of depreciation: The depreciation of a fiat currency is an economic process that is due to inflation or loss of confidence in the issuing government, not to where the money is deposited.
💥What happens to your money in Binance..?💥
✓ 1. Deposit: When you deposit fiat money into Binance, it is credited to your account and is available for you to use within the platform.
✓ 2. Use for cryptocurrencies: You can use that fiat balance to buy cryptocurrencies on the Binance spot market, as explained in their blogs, or for other transactions.
✓3. Conversion to fiat: It is also possible to convert cryptocurrencies to fiat currency and withdraw them, for example, to a bank account or a Mastercard.
💥In summary, depositing fiat money into Binance is like depositing it in a bank: your money stays with you, but in a different place, and its fiat value does not change simply by being there. 💥