Topic: Altcoin to Fiat (Read 141 times)

i believe that altcoins first have to have any kind of usage apart from speculation if they want to be traded with fiat more. there is demand for sure but it is too little mainly because people are mostly investing their bitcoins in all the different altcoins so that they can increase their bitcoins not their fiat.

the strategy is basically this: you invest $100 in bitcoin for example then invest that bitcoin you bought in altcoins and increase it twice. then bitcoin price goes up twice too so you end up having $400 worth of bitcoin.

I think that idea is too complicated. We keep the normal trading mode, it will be better. Because traders are so accustomed to such transactions. Everything will be very stable and transactions will have a high success rate because they are familiar with the transaction.
So I do not appreciate your trading method.

As far as i know,theres is no large amount of altcoins going to fiat services,because once you convert altcoins to fiat  you must convert the your altcoins into ethereum or btc,because this is mostly usable crypto coins when you changes it to paper money,otherwise when you look up into the currency exchanges only the btc have its own convertible value into dollar,while in some local exchanges   there are few accepting to change from ethereum to local money.

no demand at all I tho. But if one of ICOs really explode the market with new interesting solution of course there will be huge demand from this to fiat. Here is example on an idea that could xplode market IMO - https://medium.com/@kelvinchain/the-post-quantum-era-of-blockchain-todays-solutions-for-the-world-of-tomorrow-16bdd970f49a

The current probability is no demand for altcoin and Bitcoin so better BTC to Fiat is the safer investment for forever and everyone trust the Bitcoin only so majority of the expecting quick hype on this scenario and no one think this possibilities of current trend.

There's definitely demand, but there's not enough demand for services like Coinbase to implement something like this. Why? There's too much coins and tokens. Unnecessary dev time. Not to mention most people cash out using BTC and ETH anyway.

I never experience altcoin to fiat money because before you exchange your altcoins into fiat it need to exchange first into BTC or ETH. And it is much better to trade altcoins into bitcoin or ethereum than a dollar.

since people who invest in any altcoin want to increase their bitcoins then it should obviously be altcoin/bitcoin that has the most demand not anything else.

of course there is USDT markets that looks similar to fiat but it is not so you shouldn't confuse that with an altcoin/fiat market.

additionally there aren't that many altcoin/fiat markets available anyways so that should tell you enough about that. you can also check the volume of said markets and compare it with bitcoin markets and see which one is bigger.

also when you trade with fiat you must provide your identity according to the KYC laws and since people don't like that they choose bitcoin instead. and these days they are even moving towards decentralized exchanges which don't even have fiat in them.

Yes come to think of it, is there any exchange that will accept cryptocurrency (altcoin) and pay fiat money? I have not rally think of it. It will go along way to help and reduce time wasting in transaction and also reduces transaction fees. It will increase the demand of  bitcoin as many will like to use crypto for their transaction.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         

I think there is no demand for such things, or maybe very little. Because exchanging altcoin to BTC/ETH is good enough, why do we need to exchange altcoin to fiat directly?

How large of a demand do you guys think there is for altcoin to fiat services direct. Instead of Altcoin to BTC/ETH ?

Very curious to hear thoughts. Thanks