USDT rate is regularly touching 100 against INR!

[Lender]

https://CryptoIndiaUnited.com/usdt_price.php

Check the OTC price chart. USDT rate is often touching 100 INR, while USD has not crossed 96 INR yet.

https://Google.com/search?q=1+usd+in+inr

Why is it so?

[Bitcoin Smith]

There were offers to buy it for 102INR when the USD price was like 85 and 86.

Why?

Because people are interested in buying the USDT more than anything for whatever reason, that increases the demand for it along with the price.

And there is another reason and most common, people just pay using the money that is involved in a hack or scam so they just want to get rid of that money from their bank account as quickly as possible, so they offer more than market price to attract the buyers so they can take away the crypto and leave the traders with bank freeze and cases to face.

So don't just trade based on the price alone, pick the right and trusted trader who always pay lesser than the market price.

[Rotten Egg]

Because people are interested in buying the USDT more than anything for whatever reason, that increases the demand for it along with the price.

True.

And there is another reason and most common, people just pay using the money that is involved in a hack or scam so they just want to get rid of that money from their bank account as quickly as possible, so they offer more than market price to attract the buyers so they can take away the crypto and leave the traders with bank freeze and cases to face.

This is actually half truth. Because, at @CryptoIndiaUnited OTC, which is being referred here for USDT rate, USDT sellers will hardly accept UPI/IMPS at their bank account. Deals take place mostly through Cash Deposit Machine (CDM), Cardless Cash Withdrawal (CCW) or QR Cash Withdrawal (QCW). In the specific cases you have mentioned, where deals take place way over market rate, USDT sellers withdraw fund in Cash through CCW or QCW. The tainted account provided by USDT buyer becomes cashless before getting frozen. So, effectively, USDT sellers do NOT face any account freeze or anything.

So don't just trade based on the price alone, pick the right and trusted trader who always pay lesser than the market price.

In P2P, USDT sellers should never accept UPI/IMPS at their bank account, whatever the rate may be. Binance users are fully KYC, but P2P sellers still face account freeze left & right.

[Bitcoin Smith]

~
This is actually half truth. Because, at @CryptoIndiaUnited OTC, which is being referred here for USDT rate, USDT sellers will hardly accept UPI/IMPS at their bank account. Deals take place mostly through Cash Deposit Machine (CDM), Cardless Cash Withdrawal (CCW) or QR Cash Withdrawal (QCW). In the specific cases you have mentioned, where deals take place way over market rate, USDT sellers withdraw fund in Cash through CCW or QCW. The tainted account provided by USDT buyer becomes cashless before getting frozen. So, effectively, USDT sellers do NOT face any account freeze or anything.

Cash deposit is best method, but it is not possible for smaller amounts, so the user needs to have at least 25K or above worth of crypto to find the one who is interested in CDM.

So don't just trade based on the price alone, pick the right and trusted trader who always pay lesser than the market price.

In P2P, USDT sellers should never accept UPI/IMPS at their bank account, whatever the rate may be. Binance users are fully KYC, but P2P sellers still face account freeze left & right.

Ideally we should avoid IMPS/UPI and any kind of bank transfer mode because it always have a chance of account freeze and the reason why even the trusted users are facing account freeze is because of layers, they buy and sell simultaneously so they might received funds from some tainted account and then send it to you so IO will simply chose to freeze all bank account that is involved.

[pawanjain]

https://CryptoIndiaUnited.com/usdt_price.php

Check the OTC price chart. USDT rate is often touching 100 INR, while USD has not crossed 96 INR yet.

https://Google.com/search?q=1+usd+in+inr

Why is it so?

That's how P2P work at first place. Most of the times, there are premium prices available in P2P trading.
It has been happening since a long time now. USDT/INR price has crossed 100 few more times earlier.
So that's not shocking to see the price crossing 100 now.

[BitDiscussion]

Usually what I have experienced is when bitcoins crashes, USDT pumps slightly. Not just 100 but I have sold USDT as high as 109 rs. Yes, that was unbelievable and I could find some profit making opportunities over there. I now prefer holding USDT along with my other portfolio because USDT rates can cross 100 rs anytime in future. I would simply sell the USDT at the inflated rate and wait for the rate to come back between 95 rs to 100 rs so I can buy back. This way, I can make some quick profit and I don't think there is any risk involved here as USDT being one of the stable coin.

USDT is definitely a derivative of the US dollar but let's not forget that USDT is still a crypto which reacts to the demand and supply factor. When bitcoins crash, people start selling bitcoins for USDT which inflated the price. The very basic demand and supply comes into picture here.

[pawanjain]

Usually what I have experienced is when bitcoins crashes, USDT pumps slightly. Not just 100 but I have sold USDT as high as 109 rs. Yes, that was unbelievable and I could find some profit making opportunities over there. I now prefer holding USDT along with my other portfolio because USDT rates can cross 100 rs anytime in future. I would simply sell the USDT at the inflated rate and wait for the rate to come back between 95 rs to 100 rs so I can buy back. This way, I can make some quick profit and I don't think there is any risk involved here as USDT being one of the stable coin.

USDT is definitely a derivative of the US dollar but let's not forget that USDT is still a crypto which reacts to the demand and supply factor. When bitcoins crash, people start selling bitcoins for USDT which inflated the price. The very basic demand and supply comes into picture here.

USDT always has a premium price here in India. Just few days back I bought some USDT via P2P at around 102 rs.
Holding USDT might not be such a good strategy. We never know if the price will fall back to 95 - 100 rs.
Looking at it from a different perspective, rupee has been getting weaker against the USD recently that makes holding USDT a better choice.

[Nrcewker]

Looking at it from a different perspective, rupee has been getting weaker against the USD recently that makes holding USDT a better choice.

Bhai, I would suggest not holding USDT. Yes, you can make a profit by scalping USDT, but associating it with a word like “holding” won’t help you make any money. You won’t be losing any money, but you also won’t be making any money.

Not just 100 but I have sold USDT as high as 109 rs.

Yes, in P2P markets, sellers keep these types of prices to rank higher in the advertising lists. Better be safe, bro. For higher rates, don’t fall into the trap of account freezes and liens. Always go with trusted sellers while selling your money.

If you ask me, then yes, I like this price hike of USDT. It gives me more INR when I sell my coins. But what is actually concerning is the Indian rupee becoming weaker against the USD, and I don’t like my country weakening in front of other countries.

[pawanjain]

Looking at it from a different perspective, rupee has been getting weaker against the USD recently that makes holding USDT a better choice.

Bhai, I would suggest not holding USDT. Yes, you can make a profit by scalping USDT, but associating it with a word like “holding” won’t help you make any money. You won’t be losing any money, but you also won’t be making any money.

Not just 100 but I have sold USDT as high as 109 rs.

Yes, in P2P markets, sellers keep these types of prices to rank higher in the advertising lists. Better be safe, bro. For higher rates, don’t fall into the trap of account freezes and liens. Always go with trusted sellers while selling your money.

If you ask me, then yes, I like this price hike of USDT. It gives me more INR when I sell my coins. But what is actually concerning is the Indian rupee becoming weaker against the USD, and I don’t like my country weakening in front of other countries.

I have already clearly mentioned in my previous post that "holding" USDT is not a good strategy.
But when comparing it to ruppe, USDT is obviously better performing since its backed by USD which is a stronger currency compared to INR.
Obviously nobody would want their country to look weaker but if you were to hold INR or USDT then you know the better choice.

[hasan5jan7]

Bhaiyo, aaj international market mein USDT ka rate takreeban 95.39 INR chal raha hai. Lekin local P2P markets (jaise Binance) mein premium ki wajah se yeh rate akser thoda zyada hota hai aur 100 INR ke qareeb pahonch jata hai.Aap sab doston ke mutabiq kya aane wale dino mein yeh rate 100 INR se bhi upar nikal jaye ga ya yahin par stay kare ga?
P2P exchange par aap ko is waqt kya rate mil raha hai?

[Nrcewker]

snip~

There are two different rates that is one for buying USDT and one for selling it. Yesterday I sold my USDT at around 101 INR. So yes, for people who are interested in selling their USDT the rate is good.

Today I saw that the selling rate is around 99.10 INR, while the buying rate is around ₹103. I think the price difference is slightly higher because I am not using Binance P2P.

As for whether the price will go up or not, I think it will stay around this level for a while. Since the ITR filing season is over and there isn’t any significant political pressure from foreign countries at the moment, I expect the USDT price in P2P trades to remain around the 100 INR range only.

[hasan5jan7]

snip~

There are two different rates that is one for buying USDT and one for selling it. Yesterday I sold my USDT at around 101 INR. So yes, for people who are interested in selling their USDT the rate is good.

Today I saw that the selling rate is around 99.10 INR, while the buying rate is around ₹103. I think the price difference is slightly higher because I am not using Binance P2P.

As for whether the price will go up or not, I think it will stay around this level for a while. Since the ITR filing season is over and there isn’t any significant political pressure from foreign countries at the moment, I expect the USDT price in P2P trades to remain around the 100 INR range only.

G Sahi baat hai bhai, P2P markets mein buying aur selling rates mein hamesha thoda farq hota hai aur 101 INR par sell karna sach mein ek acha rate hai. Binance ke ilawa baki platforms par volume kam hone ki wajah se spread (price difference) thoda zyada hi milta hai jaisa aap ne bataya.Aap ka analysis bilkul theek lag raha hai, ITR season ke baad market mein thodi stability aane ki umeed hai aur lagta yahi hai ke rate filhal 100 INR ke aas paas hi range karega. Information share karne ke liye bohot shukriya, is se hum jaise new members ko market samajhne mein kafi madad milti hai