Do you exchange Fiat for Crypto or Vice Versa?

DoublerHunter

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Quote from: coolcoinz on August 29, 2022, 03:52:08 PM

I earn both but decide whether to exchange depending on the state of the market. Say the market is up 50%, I'll start slowly exchanging what I'm earning and then as the market keeps going I'll switch to my saved up coins that I've been adding up in the bear market. When the market is down by at least 50% I switch to saving mode so all my earned coins are stashed and some of my fiat is invested.

Pretty simple. You should add such option OP because it should be a popular one.

^ It is definitely a good suggestion and I also do the same with you.
When I saw that the market has a correction and the value on my holding BTC is down, I will not convert crypto to fiat, I patiently wait for it until I will see my profit was there. I even do sometimes invest when the market down so much which is can surely make a profit.
So the selection of the poll must have other selections, it should be depending on the market situation.

coolcoinz

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I earn both but decide whether to exchange depending on the state of the market. Say the market is up 50%, I'll start slowly exchanging what I'm earning and then as the market keeps going I'll switch to my saved up coins that I've been adding up in the bear market. When the market is down by at least 50% I switch to saving mode so all my earned coins are stashed and some of my fiat is invested.

Pretty simple. You should add such option OP because it should be a popular one.

serjent05

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I can't live without fiat currency since the cryptocurrency payment option is not yet fully implemented in my country. Most items for daily needs are being bought via fiat currency, and the monthly bills and online stores often use third-party services in order to be paid with cryptocurrency. So I always need to convert cryptocurrency to fiat before using it in my daily life.

bitzizzix

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I do both, but mostly I trade crypto to fiat for urgent needs and also trade fiat to crypto when the price drops gradually and buy it within my means.
I treat crypto for the long term so I only do it if I really need it and if I don't need it I won't. And I am also increasing my crypto holdings especially bitcoin by following signature campaigns and others, and holding them for long term.

qwertyup23

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Quote from: BitcoinBarrel on August 28, 2022, 03:19:22 PM

Whether you work for Fiat or Crypto, most people have to exchange in order to pay bills or survive.

What's your Fiat/Crypto situation?

As someone who lives in a third-world country, having the access to basic commodities is expensive. Job opportunities are not "opportunities" per se as it is more of like a competition where people would be willing to be underemployed just to meet their monthy/daily obligations.

The convenience of working online via participation from campaign signatures has opened doors for me. Given that our local exchange offers services where you can easily convert your cryptocurrencies/BTCs to fiat is huge. This local exchange also has the feature of paying your monthly bills and utilities as these are all available.

While some might argue that converting BTCs to fiat is a waste due to the potential of the former to skyrocket in its price in the future, I'd argue that the purpose of BTC is relative- as long as it helps and supports me financially, I would do it in heartbeat.

gabbie2010

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Quote from: BitcoinBarrel on August 28, 2022, 03:19:22 PM

Whether you work for Fiat or Crypto, most people have to exchange in order to pay bills or survive.

What's your Fiat/Crypto situation?

All my savings are in cryptocurrencies in my wallet, however whenever I needed some fiat to pay some bills or buy some needed stuffs, I sent the appropriate amount to Binance Express P2P where I sell to a buyer, there are some rare occasions whern I needed some crypto urgently or trying to help a friend to buy some crypto to avoid falling into the hand of scammers, I also use the same channel to buy crypto i.e Binance Express, honestly my experience in cryptocurrencies transactions had been awesome, splendid and very swift especially when sending or receiving a stable coin like USDT.

YOSHIE

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Quote from: BitcoinBarrel on August 28, 2022, 03:19:22 PM

Whether you work for Fiat or Crypto, most people have to exchange in order to pay bills or survive.

What's your Fiat/Crypto situation?

Because at this time not many countries/worlds provide crypto-to-crypto exchange services, only certain places that provide crypto-to-crypto payment transaction services, I mean payment using crypto, without fiat, of course I have to use.

Quote

I earn both and exchange both

Where I do have to use both, fiat and crypto, on the contrary, the fact is that crypto is not yet perfect for many people to use as payment, fiat is the main method in terms of payment, Talk about crypto income and fiat income:Automatically, I have to use both, where to use crypto and where to use fiat.

Rigon

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I work in cryptocurrency both fiat and crypto.I am managing my family along with myself by earning from here. I am constantly earning money from here by working.I use mostly cryptocurrencies for family and keep some amount of cryptocurrencies to invest.But I am doing all these things thinking about my future plans.Only God knows what the future holds, but I will definitely get something better.

m2017

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I am a supporter of the idea of combining fiat and crypto, in this case. If possible, you need to earn both fiat and crypto. Have both types of currency available and use each to pay for needs, depending on the situation. Fiat and crypto have their own advantages and disadvantages, therefore, it is more profitable to use the advantages of each currency and minimize their disadvantages. To your question, for me the closest answer is "I earn both and exchange both". I see no reason to dwell on one of the extremes and I think that it is wiser to use both options now.

Raflesia

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For some reason I sometimes do both because regardless of anything Crypto is my focus but on the other hand there are several reasons, especially with the finances that I have so I go back to exchanging some more for fiat and of course most of it is the result of profits while I am in Crypto for meet my daily needs.
But for now I still keep assets and continue to add even though little by little from FIAT to Crypto especially when now the decline is still continuing so there is still no reason for me to exchange to FIAT again.

kamvreto

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Quote from: tjtonmoy on August 29, 2022, 06:42:18 AM

Quote from: BitcoinBarrel on August 28, 2022, 03:19:22 PM

Whether you work for Fiat or Crypto, most people have to exchange in order to pay bills or survive.

What's your Fiat/Crypto situation?

Currently I'm almost broke. Have some fiat in stock and as well as some crypto. I'm staking to make my crypto grow. When the time is right, I'll buy more.

buy more and hold on for the long term, it will be better. Actually you are not broke, it's just that the value of your crypto decreases and will rise again if the market is bullish again. keep your fiat and buy more when it drops to your target price. Crypto and Fiat are both important for now, cryto as investment and fiat as investment support.

avikz

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Quote from: BitcoinBarrel on August 28, 2022, 03:19:22 PM

Whether you work for Fiat or Crypto, most people have to exchange in order to pay bills or survive.

What's your Fiat/Crypto situation?

A very minuscule number of people actually take their salaries in bitcoin. I am not considering the freelancers here but a proper salaried class person. It's extremely risky for a salaried person to get paid in bitcoin simply because of the volatility. Salary supports the important and daily household activities so any variance there, might be disastrous.

Personally I would not prefer to get my salary in crypto for volatility only. However I will probably buy some bitcoin from my investable surplus every month. But wouldn't really gamble with salary money!

piebeyb

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yes i get crypto to finance my life but not fully sell what i get even though its free i still hold some crypto in my wallet so all depends on need too i will only sell some to survive and finance my life

I don't think it's wrong to exchange crypto with Fiat or vice versa although I also never buy crypto with fiat money I get from other jobs

pieppiep

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My fiat/crypto situation is like that. I sell my crypto to be able to pay bills and survive and I do that by trading on exchanges while the profit from trading is what I sell for money. It worked for me and I've been doing it for years and even though the profits from trading are erratic, I can do it. But apart from that profit to survive, I also use some of that profit to be stored and sold only if the price goes up high like last year. Maybe many of us are doing the same like this, which is the benefit of crypto for our lives.

tjtonmoy

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Quote from: BitcoinBarrel on August 28, 2022, 03:19:22 PM

Whether you work for Fiat or Crypto, most people have to exchange in order to pay bills or survive.

What's your Fiat/Crypto situation?

Currently I'm almost broke. Have some fiat in stock and as well as some crypto. I'm staking to make my crypto grow. When the time is right, I'll buy more.

Bitstar_coin

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Quote from: BitcoinBarrel on August 28, 2022, 03:19:22 PM

Whether you work for Fiat or Crypto, most people have to exchange in order to pay bills or survive.

What's your Fiat/Crypto situation?

For the first few years of my crypto journey, i often exchange fiat for crypto since i need to buy my desired coins/tokens for investment, it was very hard to get a trusted exchange back then to exchange local fiat to crypto, binance has made things easier for most countries now. I did this for some time because i didn't have the bulk cash to invest at once, so i exchange fiat with every little spare cash i have. Presently, i don't do fiat to crypto exchange, i have some reserve crypto (stablecoins) to move around anytime i want to invest in any project, or i can sell one to buy another, it is much easier now than before.

Baofeng

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Quote from: BitcoinBarrel on August 28, 2022, 03:19:22 PM

Whether you work for Fiat or Crypto, most people have to exchange in order to pay bills or survive.

What's your Fiat/Crypto situation?

We are just lucky that we have a local crypto exchange that we can used to pay our bills, internet, phone, water and even electricity bill and to some extend credit cards as well.

So yes, I used crypto->fiat at least once a month. But not all my crypto are in that exchange, I just transfer if I needed to use this services like in the pandemic. As we have said, BYOB and have a wallet that you can. total control of.

Jeger.Kiting

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In life, one does have a need to buy or pay for anything with Fiat, because not all countries allow to buy necessities or pay for necessities using Crypto. But in my life when I get crypto or hold crypto if I don't have something important I stick to my stance to hold it, except when I'm really in an important situation because I have to pay bills and other important things, maybe I should exchanging my crypto with fiat, because in my country crypto is not allowed for any payments.

Detritus

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I sometimes earn both and exchange both based on situation demands. I have a shop were I render service and accept payment in either fiat or crypto, and what I do most times is take out my capital by converting the crypto to fiat and then leave my profit in any crypto of my choice. I take out my capital to buy more goods but the profit left behind is considered my crypto investment.
Secondly there is this site Bounty0x.io, were I do article writing and receive payment in crypto or fiat, some times if a project decides to pay with fiat, I usually buy the their token with the fiat or invest in another crypto depends if I have no rising need for the fiat at that moment but if I have any pressing needs at hand, I usually exchange a paid crypto to fiat

Duzter

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The real-time adoption of bitcoin and other cryptocurrencies weren't taking place uniformly around. This means some regions of the world we have got increased acceptance on cryptocurrencies and the same opposite happens in some other region. So, it is hard to spend directly and for this reason the choice available is to go cash it out and spend on the needs.

Topic: Do you exchange Fiat for Crypto or Vice Versa? (Read 378 times)