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.

TelolettOm

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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?

So far, honestly, I have never exchanged my fiat into crypto. BUt I always change some of my cryptos to fiat in order to fulfill my daily life necessity and also other needs. Because I am not working in real life or offline job. I only focus on this cryptocurrency industry right now. although this is not very much profits taken from trading (only in sport maret and not daily), but this is really enough to fulfil my current needs. At least, I can exchange some of my crypto to fiat weekly, but this must also be limited to amnage my funds and financial codnition here.

TimeTeller

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Quote from: sheenshane on August 28, 2022, 06:10:35 PM

I earn both but it's rare to happen to exchange my fiat for crypto it's usually I trade my crypto into fiat just like what I've earned here.
For now, I admit I didn't save my Bitcoin, I always use this for my small business outside when I got a stable profit return on it that's might the time I will invest back my money into crypto.

That's normal for us that has expenses but always calculate how much we've spent and how much we've saved.
I learn not to let my money sleep in the bank for how many years, instead, used it as capital to generate profit that can sustain my daily needs.

For most users here who are earning bitcoin or crypto in some ways, mostly we convert our crypto to fiat.
It is understandable not to sit your money in the bank, because the truth is, their interest is very small even you wait for years.
So if you have the chance to grow your money outside the bank, like small business, why not?
Also, as most of us have our daily needs, it is no surprise if the majority can't keep their crypto in their wallets.

sheenshane

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I earn both but it's rare to happen to exchange my fiat for crypto it's usually I trade my crypto into fiat just like what I've earned here.
For now, I admit I didn't save my Bitcoin, I always use this for my small business outside when I got a stable profit return on it that's might the time I will invest back my money into crypto.

That's normal for us that has expenses but always calculate how much we've spent and how much we've saved.
I learn not to let my money sleep in the bank for how many years, instead, used it as capital to generate profit that can sustain my daily needs.

Bitcoin_Arena

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I earn both crypto and fiat and also exchange both depending on the situation but it's been a while since I last bought crypto for fiat. Most of the crypto I get is mostly generated through trading profits and therefore no need to keep buying more crypto as fiat takes care of my everyday need.
The challenging bit is crypto hasn't been massively adopted so if one wants daily services, then they are forced to exchange crypto for fiat.

darkangel11

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There's no poll option that I'd choose. It's lacking "I earn both and don't exchange any" because that's my situation.
I have a lot of BTC compared to fiat. More than 50:1 on the side of bitcoin. I earn both every month and I don't exchange anything. I keep my earned bitcoins and I spend my fiat to pay my bills and buy food. Whatever happens I won't sell my coins for 20k usd. That would be such a waste.

Ever-young

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Apart from working on online platforms which pays me with crypto I also have a day Job which I do and they actually pay with with fait, most times when I have enough fiat with me which am not using for anything important at the moment I buy crypto with it. And when ever I have pressing needs I exchange my crypto to fait and solve my problems.
So I actually do the both.

uneng

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I earn crypto and have to swap it to fiat in an almost weekly basis in order to use the money to pay for my expenses. Right now I'm relying on my crypto assets for all my needs. It's not too much, because I live a humble and cheap life, while also trying to save for the future, so every bucks I earn in crypto make a lot of difference in the end. Before it was even better, because I live in a third world country where goods were really cheap, however the inflation has been hiting hard recently and I'm seeing my purchasing power decreasing day by day. If crypto helps me to survive or escape the chaos, like it has been helping me since the beginning, I will be very thankful. Of course, with God's permission and guidance in first place.

batang_bitcoin

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I just do both.
And when I'm in the convenience of having more fiat, I mostly buy crypto with that and I've got that plan of adding more to my portfolio. You know that it's like the addicting version of wanting to have more in your portfolio and stack more.
That's how it become to me when I've started to gain more optimism through the market and mostly by having bitcoin. Everyone wants to have more bitcoin and hold more and that's what I try to achieve until the next bull runs come.

Asiska02

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Even if I typically have to exchange bitcoin for fiat money before using it, it is still preferable to work and be paid in cryptocurrency rather than fiat money. Payment in bitcoin is always more when compared the equivalent value of fiat currency to cryptocurrency. I'd rather work and be paid in cryptocurrency than fiat. When you have money and exchange it for cryptocurrency, you often incur small loss. Being paid in cryptocurrency, on the other hand, will inspire you to save money rather than spend it all, especially at this point when it is advantageous to hodl now.

2stout

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It will depend on one's goals and desires but both. If you need fiat or wish to take profits, then selling to an exchange is the typical route. If you are filing bags and wish to get ahead of inflation, then buy from exchange.

romero121

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I prefer not to sell in exchange for fiat, but what we accumulate goes busted in gambling or else it'll be sold when there arises an immediate need. With time things will change. As of now we don't have any stores around accepting bitcoin as payment. In cities we've got cafes and other service providers accepting bitcoin and other cryptocurrencies.

If we explore we can directly spend on our needs, we need time to do it. Right now we're able to do some purchase online with bitcoin.

Fivestar4everMVP

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The option 3 of the pool is my current situation, I work and earn both crypto and fiat, i exchange both, depending on what i need money for, if i want to pay bills or take care of other personal of family expanses which requires fiat, i use the fiat i have on hand but if the amount i have in fiat is not enough, then i exchange some of crypto fiat.
And so also, when i want to buy a crypto, lets just say Bitcoin, and I don't wanna sell or exchange other cryptos i hold for bitcoin, i simply exchange the fiat which i have no need for at that moment, to bitcoin.
So, i earn in both fiat and crypto, and also trade in both.

Hispo

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I exchange crypto for FIAT and Fiat for crypto.
It depends mostly if my personal expenses are lower than the money I make, in that case I can afford to buy some satoshis for the long term.

However, in case my family need some money because an emergency or I need to pay for something important I sell some Crypto for Fiat (hopefully realizing some earnings), lately I have considered to borrow money with Bitcoin as colateral, so I dont need to sellmy positions, not sure if it would be better to do this with the help of reputable members of the forum or on exchanges that offer lending services.

Adbitco

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Being part of this forum has positioned me and makes me feels very disappointing with monthly payment job within my locality which have made me developed strong passion to work and earn in bitcoin, sometimes i can only sell if the needs arises, to also foot out any bill around or with me. Mostly i don't earn my local fiat rather trade cryptocurrency to fiat for my final consumptions.
The most funniest part is that i can't barely cope with any other hard job without being a computerized job, such as data tabulation, analysis and many more.
It has really shaping my nature of living and working as well.
Bitcoin to the world!

Doan9269

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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?

If you're having your bitcoin with you, then this is the best time to practice how to hodl and not just holding but very tight, this bear season will soon pass, the history of bitcoin is a proof to this amd it will surely repeated itself, if having some cash with you, then it's time to avoid inflation by investing on bitcoin now that it is dip, it's a good sign indicating for a new set in, if you hold fiat then you stand a chance to loose but bitcoin has much tendencies to profitability, so hold on bitcoin.

BIT-BENDER

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Well right now I am more of into Crypto-currency, due to low employment rate I am self employed and most of my pay comes in Cryptos so I can say I am a Crypto-currency earner, can't remember the last time I earned substantially in Fiat.

Yes we at a point may have pressing needs on we may need to purchase things of utmost importance to us. Crypto-currency is still trying to become a global phenomenon so it's a gradual process so right now in my country many day to day needs are most likely to be gotten in Fiat.
So right now I think I am a person that earn in crypto-currency and only converts to My local Fiat when I necessarily have to do so.

BitcoinBarrel

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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?

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