How to make TT$500 every month using only your credit card.
In Trinidad, savvy individuals can leverage the fluctuations in USDT (Tether) prices to make a steady income using their credit cards. Here’s a simple strategy to make $500 TTD every month by buying and selling USDT.
Step-by-Step Strategy
Buy USDT with Your Credit Card
Using an exchange like ttexchange.io you can acquire USDT using your credit card.
- Purchase Amount: 1,000 USDT
- Exchange Rate: 8 TTD per 1 USDT (assuming worst case with all fees)
- Total Cost in TTD: 1,000 USDT * 8 TTD/USDT = 8,000 TTD
Sell USDT at a Higher Rate
- Resale Exchange Rate: 8.5 TTD per 1 USDT
- Total Revenue in TTD: 1,000 USDT * 8.5 TTD/USDT = 8,500 TTD
- Calculate Profit
- Total Revenue: 8,500 TTD
- Total Cost: 8,000 TTD
- Net Profit: 8,500 TTD — 8,000 TTD = $500 TTD per transaction
Who Will Buy Your USDT?
- Businesses: Companies involved in international trade may need USDT to facilitate cross-border payments.
- Crypto and Forex Traders: Traders often require USDT to execute trades quickly due to its stable value compared to other volatile cryptocurrencies.
- Travelers and Families: Individuals traveling abroad or sending remittances might prefer using USDT for its lower fees and faster transaction times compared to traditional banking methods.
Considerations
- Market Demand: Ensure there is a steady demand for USDT among your target buyers.
- Transaction Fees: Be aware of any additional fees from exchanges or payment platforms.
By carefully managing your transactions and understanding the market, you can generate a consistent monthly income from buying and selling USDT in Trinidad.