Turning crypto into fiat or is that even nessesary anymore! - page 12.

pureclckr

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Quote from: beerlover on October 29, 2017, 03:06:08 AM

Quote from: Kingofbitcoin12345 on October 26, 2017, 11:42:39 AM

Yes,, the root word for bitcoin not to be converted into fiat is “acceptance” that obviously the word our society not into.. The reality is the government itself is hesitant to make any policy about cryptocurrency for a reason they were the one who cares for our financial and economic instability.. They can’t risked those by doing what people/bitcoin users want but for the what is best for the country.. And sadly bitcoin is not yet at that level..

First and foremost, most of the leaders belief on what is best for the country simply balls down to what is best for them. So many of the financial institutions and people in power have monopolized, manipulated and controlled the whole system that it would be so hard for them to just declare bitcoin legal for usage, apparently still with the use of cash.

However, they will not have no choice eventually, with the rate bitcoin is going and they will just end up finding a way to tax it at the end once you are converting to fiat.

The most important thing which plays a very major role in making this decision of changing the crypto currency into fiat is the condition of the person at that time. If you are really in need of paper money and you are left with no other option, then you have to go for converting your bitcoin into paper money. Otherwise, in normal days there is no need of doing all this. In fact hold your bitcoins for more money.

upsidedown75

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Activity: 1288

Merit: 1036

Quote from: mastica on October 26, 2017, 01:47:17 PM

Well sometimes i do need money and im forced to exchange my coins into local fiat to pay, since at the moment i cant pay directly with my coins the bills and the products i wanna.
I do trade my coins with local people, with the p2p wich has always amazing deals and i dont loose a big fee, in some cases i get the rate of the moment with 10-12 dollars less, thats the comission of the buyer takes.

For some that works directly online either via freelancing and earn purely from that does not really have a choice, at least no matter how little it is, they will still have to survive. In this case, the life scenario of having to withdraw is very important and most exchanges like P2P and direct to bank exchange has really been of help. Sometimes, a situation may even just warrant you to just have to withdraw.

katrimans

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Activity: 882

Merit: 500

Quote from: goaldigger on October 24, 2017, 05:08:43 PM

On our country, it is more convinient when you have a fiat than crypto. My crypto earnings are converted into fiat to become usefull. Crypto currencies are not existed on our local market and you will need to convert it into fiat with some charges and that is the way i hated. Instead of using crypto hand on hand, i will obliged to pay charges on my own money to convert it. It is more economical if we have a fiat to fiat / crypto to crypto exchange.

Gold is more popular and widely accepted in the world than Bitcoin, but nobody has ever talked about it being a currency or whatsoever. I don’t know why people should be considering Bitcoin a currency, while it is meant to be a stock for investment. There is every need to convert your money to fiat when you feel you have made enough profit. That’s it

ritsel02

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Turning crypto into fiat is still necessary in my country.Though there are already merchants,agencies and electric companies accepting bitcoin as payment, but those are not here in my province and far to reach. Bitcoin is important because it is one source of our earnings but converting it into fiat is necessary too in order to have an easy way of buying and selling goods in the market because no one are accepting bitcoin here as payment and more people in this place are not aware about bitcoin . I just hope there are more merchants in our country accepting bitcoin as payment so that there is no need to convert it into fiat.

katiecbell

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Activity: 644

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Quote from: justspare on October 28, 2017, 03:27:43 AM

Quote from: Daimon88 on October 26, 2017, 10:57:26 AM

Quote from: reflector on October 14, 2017, 01:10:04 PM

Quote from: Tungsten-1 on October 12, 2017, 03:12:05 PM

Quote from: player514 on October 12, 2017, 01:11:54 AM

Quote from: illusioNiZt on October 11, 2017, 11:49:29 PM

Most efficient and cost effective way of exchanging BTC to fiat is using your local exchanges for many reasons, of-course make sure they are trusted before you use them.

The issue is that local exchanges can be potential scams. I'd say dealing with someone very trusted here who accepts escrow is better than dealing with a local exchanger. Overall, exchanged just boil down to what you're comfortable with though.

There is no doubt in this thing that there are so many scammers sitting in the local exchange market but this doesn’t mean that you stop converting your crypto into fiat or vice versa. You need to find some good trading exchange like that of Bittrex trading exchange. You’ll hardly find any insecurity while performing any transaction over there.

So why are you going in that there are many online exchanges which fits for us to start trading. I do trade my bitcoins with the localbitcoins.com only from the day I get into the bitcoin.
Now recent days their deposit fees only bothers me because it is additionally wasted my bitcoins I have in my online wallet or desktop wallet. I wish it to reduced because most trusted platform to sell our coins.

Even right from time, you don’t need to change to Fiat before you can actually trade. But no matter what, in some situations, it will be necessary to change to Fiat, cause you won’t be able to take care of somethings without Fiat.

I must say that it all depends on your needs. If you think that there is a need of changing your crypto currency into paper money, then you can go for it. Otherwise, I don’t think so that there will hardly any reason of changing it into paper money. It is because of the reason holding of crypto currency especially bitcoin is the most preferable thing and it can help you earn much more money.

In my opinion, there is no need of changing your crypto currency into paper money. It is because of the reason that with each passing day, all the crypto currencies especially bitcoin is gaining better reputation than the previous.

Now there are so many places from where you can get almost all the things which you actually need by paying with your bitcoin. You can shop, eat and buy the things quite comfortably.

Darklinkz

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Activity: 448

Merit: 100

I know btc is very expensive now but I will still change it to fiat. Maybe rich investors are hoarding a lot of cryptos but I think the smart way is to exchange it in its pumping stage because it is volatile that means you can buy again once it falls.

beerlover

legendary

Activity: 3052

Merit: 1188

Quote from: Kingofbitcoin12345 on October 26, 2017, 11:42:39 AM

Yes,, the root word for bitcoin not to be converted into fiat is “acceptance” that obviously the word our society not into.. The reality is the government itself is hesitant to make any policy about cryptocurrency for a reason they were the one who cares for our financial and economic instability.. They can’t risked those by doing what people/bitcoin users want but for the what is best for the country.. And sadly bitcoin is not yet at that level..

First and foremost, most of the leaders belief on what is best for the country simply balls down to what is best for them. So many of the financial institutions and people in power have monopolized, manipulated and controlled the whole system that it would be so hard for them to just declare bitcoin legal for usage, apparently still with the use of cash.

However, they will not have no choice eventually, with the rate bitcoin is going and they will just end up finding a way to tax it at the end once you are converting to fiat.

justspare

hero member

Activity: 1022

Merit: 538

Quote from: Daimon88 on October 26, 2017, 10:57:26 AM

Quote from: reflector on October 14, 2017, 01:10:04 PM

Quote from: Tungsten-1 on October 12, 2017, 03:12:05 PM

Quote from: player514 on October 12, 2017, 01:11:54 AM

Quote from: illusioNiZt on October 11, 2017, 11:49:29 PM

Most efficient and cost effective way of exchanging BTC to fiat is using your local exchanges for many reasons, of-course make sure they are trusted before you use them.

The issue is that local exchanges can be potential scams. I'd say dealing with someone very trusted here who accepts escrow is better than dealing with a local exchanger. Overall, exchanged just boil down to what you're comfortable with though.

There is no doubt in this thing that there are so many scammers sitting in the local exchange market but this doesn’t mean that you stop converting your crypto into fiat or vice versa. You need to find some good trading exchange like that of Bittrex trading exchange. You’ll hardly find any insecurity while performing any transaction over there.

So why are you going in that there are many online exchanges which fits for us to start trading. I do trade my bitcoins with the localbitcoins.com only from the day I get into the bitcoin.
Now recent days their deposit fees only bothers me because it is additionally wasted my bitcoins I have in my online wallet or desktop wallet. I wish it to reduced because most trusted platform to sell our coins.

Even right from time, you don’t need to change to Fiat before you can actually trade. But no matter what, in some situations, it will be necessary to change to Fiat, cause you won’t be able to take care of somethings without Fiat.

I must say that it all depends on your needs. If you think that there is a need of changing your crypto currency into paper money, then you can go for it. Otherwise, I don’t think so that there will hardly any reason of changing it into paper money. It is because of the reason holding of crypto currency especially bitcoin is the most preferable thing and it can help you earn much more money.

Hamphser

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Activity: 2604

Merit: 338

Vave.com - Crypto Casino

Quote from: peter0425 on October 26, 2017, 11:04:48 AM

Quote from: Yuhee on October 25, 2017, 03:27:37 AM

Quote from: nidacoinlove on October 25, 2017, 12:28:28 AM

Quote from: Burks on October 25, 2017, 12:00:29 AM

Quote from: goaldigger on October 24, 2017, 05:08:43 PM

On our country, it is more convinient when you have a fiat than crypto. My crypto earnings are converted into fiat to become usefull. Crypto currencies are not existed on our local market and you will need to convert it into fiat with some charges and that is the way i hated. Instead of using crypto hand on hand, i will obliged to pay charges on my own money to convert it. It is more economical if we have a fiat to fiat / crypto to crypto exchange.

Like you said if we convert cryptos into fiat currency it is more convenient to use it on local market to buy what we needed.This is because in many place no good internet which is important for crypto transaction and still many people don't know what is bitcoin.At present it is much needed to convert crypto earnings in to fiat to make it useful which includes many costs.But in future i think it is not needed because all people will start to accept crypto.

This is a valid reason as well don't have the facility anywhere to directly buy goods from cryptocurrency. Even if we get this facility anywhere still in my opinion converting crypto into fiat is more convenient for domestic shopping. On each crypto transaction we are charged with a transaction fee so, if there are different places where we shop from in a day we will have to pay the transaction fee for each one separately. Paying with fiat is more convenient inorder this regard. I feel the better way for small payments is fiat.

I see that their are already places acknowledging btc as a from of payment. But for us, it is hardly in the topic of any local markets if they are gonna accept it. I see some banners saying "bitcoin available here" but when i ask them, they have no idea what that it. It seems that it was just random banner given to them. I think it if better to pay iwht fiat because of the easy transaction rather than waiting for confirmation with just even 1 dollar item.

As far as my country is concern, there's no merchants who are still accepting bitcoin yet. So its only logical for me to really convert it to traditional fiat in order to maximized the use of it. Either localbitcoins.com or our local exchanges is the way. Although our local exchanges charges a little bit when converting our bitcoin, I'm fine with it as long as its instant withdrawal for me. We don't have a choice right now since bitcoin already already well known around the world hasn't been universally accepted as of date. It will take 3-5 years before we can truly used it as for micro-payments.

Even 3-5 years wont still be a guarantee that it would be already be transacted on most merchants globally.We wont know on what would happen ahead but yet seeing on the progress of bitcoin we can really presume that it would surely happen anytime soon but for now we dont have any choice but to stick on actively converting it because we do really need money on our basic needs but yet there are people did able to manage to hold up than on actively spending it because they do know the potential profits that it would give on future years to come.

mastica

hero member

Activity: 938

Merit: 500

Well sometimes i do need money and im forced to exchange my coins into local fiat to pay, since at the moment i cant pay directly with my coins the bills and the products i wanna.
I do trade my coins with local people, with the p2p wich has always amazing deals and i dont loose a big fee, in some cases i get the rate of the moment with 10-12 dollars less, thats the comission of the buyer takes.

Kingofbitcoin12345

full member

Activity: 462

Merit: 102

Yes,, the root word for bitcoin not to be converted into fiat is “acceptance” that obviously the word our society not into.. The reality is the government itself is hesitant to make any policy about cryptocurrency for a reason they were the one who cares for our financial and economic instability.. They can’t risked those by doing what people/bitcoin users want but for the what is best for the country.. And sadly bitcoin is not yet at that level..

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: Yuhee on October 25, 2017, 03:27:37 AM

Quote from: nidacoinlove on October 25, 2017, 12:28:28 AM

Quote from: Burks on October 25, 2017, 12:00:29 AM

Quote from: goaldigger on October 24, 2017, 05:08:43 PM

On our country, it is more convinient when you have a fiat than crypto. My crypto earnings are converted into fiat to become usefull. Crypto currencies are not existed on our local market and you will need to convert it into fiat with some charges and that is the way i hated. Instead of using crypto hand on hand, i will obliged to pay charges on my own money to convert it. It is more economical if we have a fiat to fiat / crypto to crypto exchange.

Like you said if we convert cryptos into fiat currency it is more convenient to use it on local market to buy what we needed.This is because in many place no good internet which is important for crypto transaction and still many people don't know what is bitcoin.At present it is much needed to convert crypto earnings in to fiat to make it useful which includes many costs.But in future i think it is not needed because all people will start to accept crypto.

This is a valid reason as well don't have the facility anywhere to directly buy goods from cryptocurrency. Even if we get this facility anywhere still in my opinion converting crypto into fiat is more convenient for domestic shopping. On each crypto transaction we are charged with a transaction fee so, if there are different places where we shop from in a day we will have to pay the transaction fee for each one separately. Paying with fiat is more convenient inorder this regard. I feel the better way for small payments is fiat.

I see that their are already places acknowledging btc as a from of payment. But for us, it is hardly in the topic of any local markets if they are gonna accept it. I see some banners saying "bitcoin available here" but when i ask them, they have no idea what that it. It seems that it was just random banner given to them. I think it if better to pay iwht fiat because of the easy transaction rather than waiting for confirmation with just even 1 dollar item.

As far as my country is concern, there's no merchants who are still accepting bitcoin yet. So its only logical for me to really convert it to traditional fiat in order to maximized the use of it. Either localbitcoins.com or our local exchanges is the way. Although our local exchanges charges a little bit when converting our bitcoin, I'm fine with it as long as its instant withdrawal for me. We don't have a choice right now since bitcoin already already well known around the world hasn't been universally accepted as of date. It will take 3-5 years before we can truly used it as for micro-payments.

Daimon88

full member

Activity: 397

Merit: 100

Quote from: reflector on October 14, 2017, 01:10:04 PM

Quote from: Tungsten-1 on October 12, 2017, 03:12:05 PM

Quote from: player514 on October 12, 2017, 01:11:54 AM

Quote from: illusioNiZt on October 11, 2017, 11:49:29 PM

Most efficient and cost effective way of exchanging BTC to fiat is using your local exchanges for many reasons, of-course make sure they are trusted before you use them.

The issue is that local exchanges can be potential scams. I'd say dealing with someone very trusted here who accepts escrow is better than dealing with a local exchanger. Overall, exchanged just boil down to what you're comfortable with though.

There is no doubt in this thing that there are so many scammers sitting in the local exchange market but this doesn’t mean that you stop converting your crypto into fiat or vice versa. You need to find some good trading exchange like that of Bittrex trading exchange. You’ll hardly find any insecurity while performing any transaction over there.

So why are you going in that there are many online exchanges which fits for us to start trading. I do trade my bitcoins with the localbitcoins.com only from the day I get into the bitcoin.
Now recent days their deposit fees only bothers me because it is additionally wasted my bitcoins I have in my online wallet or desktop wallet. I wish it to reduced because most trusted platform to sell our coins.

Even right from time, you don’t need to change to Fiat before you can actually trade. But no matter what, in some situations, it will be necessary to change to Fiat, cause you won’t be able to take care of somethings without Fiat.

BaraxLo

hero member

Activity: 910

Merit: 512

Quote from: Yuhee on October 25, 2017, 03:27:37 AM

Quote from: nidacoinlove on October 25, 2017, 12:28:28 AM

Quote from: Burks on October 25, 2017, 12:00:29 AM

Quote from: goaldigger on October 24, 2017, 05:08:43 PM

On our country, it is more convinient when you have a fiat than crypto. My crypto earnings are converted into fiat to become usefull. Crypto currencies are not existed on our local market and you will need to convert it into fiat with some charges and that is the way i hated. Instead of using crypto hand on hand, i will obliged to pay charges on my own money to convert it. It is more economical if we have a fiat to fiat / crypto to crypto exchange.

Like you said if we convert cryptos into fiat currency it is more convenient to use it on local market to buy what we needed.This is because in many place no good internet which is important for crypto transaction and still many people don't know what is bitcoin.At present it is much needed to convert crypto earnings in to fiat to make it useful which includes many costs.But in future i think it is not needed because all people will start to accept crypto.

This is a valid reason as well don't have the facility anywhere to directly buy goods from cryptocurrency. Even if we get this facility anywhere still in my opinion converting crypto into fiat is more convenient for domestic shopping. On each crypto transaction we are charged with a transaction fee so, if there are different places where we shop from in a day we will have to pay the transaction fee for each one separately. Paying with fiat is more convenient inorder this regard. I feel the better way for small payments is fiat.

I see that their are already places acknowledging btc as a from of payment. But for us, it is hardly in the topic of any local markets if they are gonna accept it. I see some banners saying "bitcoin available here" but when i ask them, they have no idea what that it. It seems that it was just random banner given to them. I think it if better to pay iwht fiat because of the easy transaction rather than waiting for confirmation with just even 1 dollar item.

This is really a very good approach. At present, you can pay with bitcoin but paying with bitcoin is not a suitable option as compared to that of paying with paper money. It all depends on your needs. If you think there is a need of converting your crypto currency, then you should go for converting your crypto currency into paper money. Otherwise, keep on holding your bitcoins in your wallets.

Aamir1

hero member

Activity: 756

Merit: 500

Quote from: cryptosamuri on September 04, 2017, 10:06:11 PM

what the most efficient way you have found for

Shocked

1. avoiding the whole exchanging from crypto to fiat to take care of financial responsibilities out side the Crypto-space

I haven't found any way of avoiding the exchanging from crypto to fiat because it is not possible for me to spend cryptos in my country as there aren't any places accepting cryptocurrencies nor there are much people knowing about them. So i have no choice but to exchange them in order to spend them.

Quote from: cryptosamuri on September 04, 2017, 10:06:11 PM

2. what is the most efficient and cost effective way you have found for the exchanging of crypto to fiat?

Localbitcoins.com is the most efficient and cost effective method for me to exchange my Bitcoins to fiat so far. I send my Bitcoins to the site, which of course costs me the transaction fees plus a small fee for the site as well, and then i sell them to someone from my country and get the money in a bank account. Some banks charge something around $1 for transactions and some none, so summing them all up, i may need to pay around $2 to $4 for exchanging them to fiat, and for me, that seems to be the most reasonable amount of fees i could pay for exchanging my crypto to fiat.

Yuhee

sr. member

Activity: 546

Merit: 250

Quote from: nidacoinlove on October 25, 2017, 12:28:28 AM

Quote from: Burks on October 25, 2017, 12:00:29 AM

Quote from: goaldigger on October 24, 2017, 05:08:43 PM

On our country, it is more convinient when you have a fiat than crypto. My crypto earnings are converted into fiat to become usefull. Crypto currencies are not existed on our local market and you will need to convert it into fiat with some charges and that is the way i hated. Instead of using crypto hand on hand, i will obliged to pay charges on my own money to convert it. It is more economical if we have a fiat to fiat / crypto to crypto exchange.

Like you said if we convert cryptos into fiat currency it is more convenient to use it on local market to buy what we needed.This is because in many place no good internet which is important for crypto transaction and still many people don't know what is bitcoin.At present it is much needed to convert crypto earnings in to fiat to make it useful which includes many costs.But in future i think it is not needed because all people will start to accept crypto.

This is a valid reason as well don't have the facility anywhere to directly buy goods from cryptocurrency. Even if we get this facility anywhere still in my opinion converting crypto into fiat is more convenient for domestic shopping. On each crypto transaction we are charged with a transaction fee so, if there are different places where we shop from in a day we will have to pay the transaction fee for each one separately. Paying with fiat is more convenient inorder this regard. I feel the better way for small payments is fiat.

I see that their are already places acknowledging btc as a from of payment. But for us, it is hardly in the topic of any local markets if they are gonna accept it. I see some banners saying "bitcoin available here" but when i ask them, they have no idea what that it. It seems that it was just random banner given to them. I think it if better to pay iwht fiat because of the easy transaction rather than waiting for confirmation with just even 1 dollar item.

nidacoinlove

sr. member

Activity: 588

Merit: 254

Quote from: Burks on October 25, 2017, 12:00:29 AM

Quote from: goaldigger on October 24, 2017, 05:08:43 PM

On our country, it is more convinient when you have a fiat than crypto. My crypto earnings are converted into fiat to become usefull. Crypto currencies are not existed on our local market and you will need to convert it into fiat with some charges and that is the way i hated. Instead of using crypto hand on hand, i will obliged to pay charges on my own money to convert it. It is more economical if we have a fiat to fiat / crypto to crypto exchange.

Like you said if we convert cryptos into fiat currency it is more convenient to use it on local market to buy what we needed.This is because in many place no good internet which is important for crypto transaction and still many people don't know what is bitcoin.At present it is much needed to convert crypto earnings in to fiat to make it useful which includes many costs.But in future i think it is not needed because all people will start to accept crypto.

This is a valid reason as well don't have the facility anywhere to directly buy goods from cryptocurrency. Even if we get this facility anywhere still in my opinion converting crypto into fiat is more convenient for domestic shopping. On each crypto transaction we are charged with a transaction fee so, if there are different places where we shop from in a day we will have to pay the transaction fee for each one separately. Paying with fiat is more convenient inorder this regard. I feel the better way for small payments is fiat.

Burks

sr. member

Activity: 303

Merit: 250

Quote from: goaldigger on October 24, 2017, 05:08:43 PM

On our country, it is more convinient when you have a fiat than crypto. My crypto earnings are converted into fiat to become usefull. Crypto currencies are not existed on our local market and you will need to convert it into fiat with some charges and that is the way i hated. Instead of using crypto hand on hand, i will obliged to pay charges on my own money to convert it. It is more economical if we have a fiat to fiat / crypto to crypto exchange.

Like you said if we convert cryptos into fiat currency it is more convenient to use it on local market to buy what we needed.This is because in many place no good internet which is important for crypto transaction and still many people don't know what is bitcoin.At present it is much needed to convert crypto earnings in to fiat to make it useful which includes many costs.But in future i think it is not needed because all people will start to accept crypto.

goaldigger

sr. member

Activity: 2422

Merit: 357

On our country, it is more convinient when you have a fiat than crypto. My crypto earnings are converted into fiat to become usefull. Crypto currencies are not existed on our local market and you will need to convert it into fiat with some charges and that is the way i hated. Instead of using crypto hand on hand, i will obliged to pay charges on my own money to convert it. It is more economical if we have a fiat to fiat / crypto to crypto exchange.

btccashacc

legendary

Activity: 1120

Merit: 1000

Well I think it depends on which country you live, it is not necessary if your government support bitcoin as payment option where you can transaction with them freely, but for some countries transaction with bitcoin is prohibit so you must convert your bitcoin to the cash first, not only that lack of adoption is the main problem here not all the things that you can buy with bitcoin directly only a few merchants accept bitcoin as payment method and the fee is also higher if we compare to the cash.

Topic: Turning crypto into fiat or is that even nessesary anymore! - page 12. (Read 7215 times)