The market of buying and selling dollars and coins has become more hot than ever with the increase in the price of the dollar. These days, many people buy and sell dollars by going to the exchange offices in the city centers and get a good profit from this. But these people do not know that there is no need to visit in person to buy dollars, and most importantly, there is no need to find buyers and sellers. You can easily buy and sell dollars from home and with your phone or personal computer. What is virtual dollar and how to buy virtual dollar, maybe these are the questions that have occupied your mind these days. How to buy virtual dollars and what virtual dollars are are the topics that we intend to discuss in this article so that you can easily buy dollars from home.
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What is virtual dollar?
The dollar is one of the most valuable assets in the stock market and forex, which determines the price of many goods in Iran. These days, with the significant increase in the price of the dollar from 30 thousand tomans to 37 tomans, more people thought of buying dollars. But most buyers spend most of their time buying dollars in long queues at exchanges. Most importantly, you have to spend a lot of time in banks to be able to convert your money into Tomans or dollars. Now imagine that all these problems go away at once and you can easily and confidently buy as many dollars as you can. This is where the virtual dollar comes in handy for you, the real buyers of the stock market and forex. Using virtual dollars, you can buy dollars in the shortest possible time and sell them in a much shorter time.
But what is virtual dollar really and where can you buy virtual dollar? Stablecoins can be considered as virtual dollars because their price is always equal to one dollar. Among the most famous stablecoins, we can mention Tether and USDCoin, which have the highest demand and liquidity compared to other stablecoins. If you are not familiar with stablecoins, read Frax’s stablecoin article.
How to buy virtual dollars
Buying virtual dollars is done in two ways, 1. through the forex market 2. through the digital currency market. As you know, to buy from the forex market, you need to have an account and international cards such as Web Money, Perfect Money, etc. But through the digital currency market or stock exchange, you can easily buy as many dollars as you can. In the following, we will explain how to buy virtual dollars in the forex market and digital currencies or stock exchange.
Read more: What is Forex strategy?
How to buy virtual dollars in forex
To buy and sell virtual dollars in Forex, you must first have one of the international accounts. Perfect Money or Web Money are two of the best credit card service providers in foreign countries, and Web Money is a better option, because Iranian users can easily create a bank account with their real identity. But the time it takes to send the card to you is a little long, and there may be a problem with the documents you send. Therefore, the process of receiving a card for loved ones who have not yet obtained an international credit card may be long. Because most people intend to buy and sell dollars instantly these days and waiting causes more losses. The interesting thing about the Web Money website is that you can get a credit card by presenting your national card or passport.
After getting one of the international credit cards, you can easily buy and sell dollars in the forex market. Be sure that you will save your time by buying and selling virtual dollars and that you will get more profit. If you are somewhat familiar with the forex market or if you have never made a purchase in this profitable market, I suggest that you view the forex training course.
How to buy virtual dollars in the cryptocurrency market
The digital currency market is not in an interesting situation these days after the fall of Bitcoin. Because most of the digital assets have taken a downward trend and lost their previous value after the decrease in the price of Bitcoin. But stablecoins are the only assets that are exempt from this case and did not undergo much price change. One of the most famous stablecoins is Tether, the value of one unit of which is equal to 1 dollar, and it is also referred to as virtual dollar. By visiting one of the Iranian or foreign exchanges, traders can buy this asset and sell it at another time. The way to profit from this asset is that you buy Tether, which is equal to the value of one dollar. For example, when you bought Tether, the dollar price was equal to 36 thousand Tomans.
After a few hours or a day, its value reaches 36 thousand 500 tomans. When you see the increase in the price of the dollar in Iran, you sell it to profit from its price increase. Be careful that the value of Tether is fixed and you are obliged to equalize the dollar price in the Iranian market so that you can make a good profit from this transaction. Buying virtual dollars through Tether is a very good option, because you don’t need to have PayPal, Perfect Money or WebMoney, and you can buy and sell Tether just by creating an account in one of the Iranian exchanges such as Nobitex and Aban Tether.
To learn about Nobitex exchange, you can read the article on buying and selling digital currency in Nobitex. Of course, Tether is not the only asset whose value is equal to one dollar, USDCoin, BinanceUSD, TrueUSD and OriginDollar are other assets that have a price equal to one dollar.
Read more: How to buy from Aban Tether
The importance of buying virtual dollars
Almost 11 years ago, Bitcoin was introduced as the first digital currency and has been able to bring about a great transformation in people’s assets and investments. Therefore, many people entered this field and to maintain the security of millions of users from all over the world, this market has been able to create a safe environment for investment. Taken from the statistics taken from the Coin Market website, the volume of daily transactions in digital currency markets reaches more than 100 billion dollars, and in this way more profit is available to traders.
Of course, each person buys digital currency for a specific reason. For example, there are some users who buy their desired digital currency for long-term or short-term investment. By buying digital currency, you can find great opportunities in the market to develop your capital.
Factors affecting the price of digital currency
The price of digital currencies fluctuates a lot so that their value is constantly changing. In the following, we will mention some of the factors that affect the price of cryptocurrencies.
- If the supply or demand of currency is high
- Profitability of currencies
- The influence of public opinion as well as the media
- Community support
- Economy and politics of a society
Common mistakes in buying virtual dollars
In this section, we will mention the mistakes that a beginner trader may make and lose all his capital. So, to avoid possible losses, it is better to pay attention to these mentioned items.
- First, enter the market by placing a small amount of your capital to avoid big losses.
- Following digital currency news will help you make better decisions.
- Choose a safe exchange to buy cryptocurrencies.
- Put your capital in a valid digital wallet.
- Choose the right analysis and strategy to make profit and reduce losses in your transactions.
- Invest by consulting professionals in this field.
- Enter the transaction after researching and calculating the chart and price fluctuations.
- Do not buy emotionally.
Frequently Asked Questions
How to buy virtual dollars?
There are 2 ways to buy virtual dollars: 1. through the forex market 2. through the cryptocurrency market. To buy in the forex market, you must have one of the international credit cards such as Web Money or Perfect Money. Using your national card or Iranian passport, you can create an account on the Web Money website and receive your credit card after 5 working days. You can also buy virtual dollars by buying Tether virtual currency, whose value is equal to one dollar. Because by buying each Ethereum unit, you are actually buying dollars.
What is the price of the virtual dollar?
The price of the virtual dollar is exactly equivalent to the normal dollar that is being bought and sold these days. Currently, the price of the virtual dollar is equal to 36 thousand tomans, which is increasing day by day.
What is the best site to buy virtual dollars?
To buy virtual dollars, you can use the Nobitex exchange, which is the best site for buying virtual dollars. Get virtual dollars by creating an account on this exchange and buying Tether from this exchange, because the price of Tether is exactly equivalent to one dollar.
Should we buy virtual dollars or dollars?
Virtual dollar is much more economical than buying dollars from exchanges, because it saves you time and money. Best of all, it is easily redeemable and you can buy it again and make a good profit. But if you buy regular dollars, you have to wait until the next day for the exchanges to open or sell it to dollar dealers who buy from you very cheaply. Therefore, the reasons for buying virtual dollars will be much better and more economical.