QUOTE(Eulm585 @ Jan 22 2021, 08:06 PM)
Sifu's want to understand that is the purpose of USDT and other similarly stable coins which looks like it's pegged to 1USD.
For example let's say I bought BTC at 31000, it went up to 33000 and I sold it by converting back to USDT.
So technically I should have gotten 6% ISH increase in USDT.
So for example from 500 MYR, my value after seeking should be 530myr.
If I'm buying and selling on binance would there be any fees that I'm incurring?
To be exact I'm trading USDT/BTC, not using the convert feature in binance
Also since usdt is always around 0.999 to 1.0005 USD range, would I be correct in saying that it is sort of a safe heaven during the drops?
Your understanding is correct. People swap to stable coins usually when market is crashing, and they hope to buy back non-stablecoins at a lower price.
For Binance, every trade between crypto-to-crypto has a fee (
details here). You should always keep some BNB in your Binance account because they provide discount for each trade.