Home ยป Crypto trading platforms are replacing banks in Lebanon

Crypto trading platforms are replacing banks in Lebanon

Few years ago, I was sitting with the CTO of a major bank in Lebanon. He kept telling me how hacking his bank was going to be my peak; that I will never achieve anything higher in life. I guess nobody told him, what will happen to his banks few years later. The biggest banks in Lebanon are not be able to return people’s deposit nor pay proper salaries to their employees.

The financial crisis in Lebanon has made people lose faith in the banking sector. I remember in late 2019, I was trying to transfer 200 eur to Germany to get my degree verified there. When my bank refused to send the money even if i pay it from my own fresh money.

On the previous visit to Lebanon I learned that trading Crypto has became popular in Lebanon. Some take it as an opportunity to invest and make a good income in country where the minimum wage is less than 80 $. And others like me use Binance to transfer money to Lebanon without having to pay fees or commission.

Transfer money to/from Lebanon without fees.

My first try, i wanted to transfer money to Lebanon, the transfer fee is usually of 2% + currency exchange fee + Transfer fees Which adds up to more than 50 dollars on a transfer of 400 $. But instead of using OMT, i transferred money to my Binance account, bought USDT, found someone to buy through the crypto community and sold 1000 usdt for 1000 dollars with 0 commission.

You’re probably wondering how you can find somebody to buy USDT in Lebanon, simply download telegram and search for groups with “usdt Lebanon”. You will find at least 6 groups, and in these groups you will find potential buyers and sellers of usdt.

My take on crypto

I’ve tried dealing with crypto myself, but its a lot of stress and work. Its a fulltime job since the crypto market’s prices fluctuate during the same day. So one second difference could mean you lost all your profit. Therefore I created my own bot to deal crypto. Join me on Binance and start dealing crypto ๐Ÿ˜€