Turning crypto into fiat or is that even nessesary anymore! - page 13.

MMA

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Quote from: jonatuzc on October 20, 2017, 12:29:05 AM

Quote from: ThunderCatSteve on October 17, 2017, 11:40:43 PM

Quote from: Rana590 on October 16, 2017, 11:08:17 PM

Quote from: oegarod on September 11, 2017, 01:13:48 PM

Right now converting to fiat is a must requirement, because with bitcoin we haven't got that acceptance in all markets same as that we use traditional currency. So, till such an situation exists we are supposed to convert and use it. Partly the direct acceptance from several companies have been getting increased.

Absolutely right. Bitcoin is not fiat money and we can't buy and use money through bitcoin. In order to do our own work fiat money is necessary. Then we need to exchange our bitcoin on our fiat currency which is accepted by everywhere.

No doubt adoption is still in its early stage and truly, unless we want to deceive ourselves, except for some who receive their major earning with bitcoin and will need to withdraw part of it for upkeep, most people are looking forward to the long term holding.

So, even if we see much adoption from merchants, we might not really see much spendings for now except for some who already have more than enough and can gladly use some to buy somethings. Nevertheless, it is a gradual process and a time will come when bitcoin will be accepted more than we have now.

It is mandatory because of the usability of bitcoin in the local markets. In my community lot of people even don’t know what is bitcoin and they will never accept a currency which has no physical existence. Therefore I think that converting bitcoin into fiat currency is very important if you want to use your bitcoin for buying something in the local markets. More time needs for direct use of bitcoin.

I think there are so many other factors which compel us to convert our bitcoin or any other crypt o currency in to fiat. For example the unavailability of stores who are accepting bitcoin, in fact in most of the countries people even do not know about bitcoin, therefore it is difficult to find such shops who are accepting bitcoin for shopping.

raven7886

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Quote from: Alpha0One1 on October 19, 2017, 08:10:57 AM

For now, yes! Once the Crypto Credit card ICO's start delivering their products - Centra, TenX, Metal & MCO. We will be able to spend our crypto assets like any currency with those cards!

Some of them have been existing for some time though only for BTC. Last time I checked, xapo was doing something like that. However, with so many of these guys coming up lately, and also having some of them like Centra having many options for multiple coins, spending cryptos will start becoming an easy thing and as once as a merchant makes use of card for payment, this should be a smooth ride.

malikusama

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Not necessary in the countries or states who have already legalized bitcoin and many retailers and stores there are accepting bitcoins as payment method, but still in majority of the countries where bitcoin is not officially legalized there is a need of exchanging crypto to fiat for use.
Cryptos and bitcoins are more likely treated as an asset than just a currency, so people prefer to save it for future than to use it on daily basis.

Quote from: TheCoinFinder on September 05, 2017, 12:00:33 AM

An efficient way to exchange between fiat and crypto currency i have found so far is localbitcoins.com

I agree, I prefer localbitcoins.com because it is the convenient way to exchange crypto to fiat and vice versa.

jonatuzc

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Quote from: ThunderCatSteve on October 17, 2017, 11:40:43 PM

Quote from: Rana590 on October 16, 2017, 11:08:17 PM

Quote from: oegarod on September 11, 2017, 01:13:48 PM

Right now converting to fiat is a must requirement, because with bitcoin we haven't got that acceptance in all markets same as that we use traditional currency. So, till such an situation exists we are supposed to convert and use it. Partly the direct acceptance from several companies have been getting increased.

Absolutely right. Bitcoin is not fiat money and we can't buy and use money through bitcoin. In order to do our own work fiat money is necessary. Then we need to exchange our bitcoin on our fiat currency which is accepted by everywhere.

No doubt adoption is still in its early stage and truly, unless we want to deceive ourselves, except for some who receive their major earning with bitcoin and will need to withdraw part of it for upkeep, most people are looking forward to the long term holding.

So, even if we see much adoption from merchants, we might not really see much spendings for now except for some who already have more than enough and can gladly use some to buy somethings. Nevertheless, it is a gradual process and a time will come when bitcoin will be accepted more than we have now.

It is mandatory because of the usability of bitcoin in the local markets. In my community lot of people even don’t know what is bitcoin and they will never accept a currency which has no physical existence. Therefore I think that converting bitcoin into fiat currency is very important if you want to use your bitcoin for buying something in the local markets. More time needs for direct use of bitcoin.

KEPLER99

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Quote from: Alpha0One1 on October 19, 2017, 08:10:57 AM

For now, yes! Once the Crypto Credit card ICO's start delivering their products - Centra, TenX, Metal & MCO. We will be able to spend our crypto assets like any currency with those cards!

Well not really because I am not agree with your point of view I like the bitcoin and I am investing in the bitcoin so buy the more bitcoin and be the best investor of the bitcoin a lot of the people are getting the income from and they are trying to make the circle of the bitcoin investing safe through the wallets and the safe use of the bitcoin is not the issue now.

I hold the bitcoin and the power of the bitcoin will be more than this in some years.

mostkey

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Quote from: xbl1008 on October 17, 2017, 11:28:42 PM

it depends on where you are i guess because not all country is widely bitcoin accepted and you still need to convert into fiat for you to buy goods you needed and for the goods that you wanted but the idea of this crypto currency is very brilliant because it will saves you time from withdrawing from the ATM whereas in bitcoin you can pay directly via QR code or manual sending a very convenient way that saves time and transaction fees, one thing this new medium of exchange is so broad that we can invest from in due to its fast capital appreciation. .

buy bitcoin!

indeed not all countries accept bitcoin clearly, but there must be someone who can pioneer bitcoin in order to enter quickly in his country, so that all countries can transact comfortably and infinite, even access transactions between countries do not need to cost expensive and even does not take long

Kevin77

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Quote from: 777Bitcoin on October 14, 2017, 04:07:41 AM

When the country your living in has slow adaptation to bitcoin business and acceptance exchanging cryptocurrency into fiat is rampant and most of them are this who don’t do long term investments. It it clear now that to rage fiat out of individual system of living is for the government to legalized it and for the businesses to add it on they’re options.

That does not necessarily mean. I don’t know about your country but in so many countries including mine, the government has not really declared their stance yet on bitcoin and activities are running normally in exchanges.
Unless the government decides to ban bitcoin and shut down all exchanges, I see no reason why it should be hard for anyone to withdraw into fiat. Maybe I am just saying this from my own experience anyway.

mrcash02

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Quote from: BarbieCasino on October 18, 2017, 01:44:10 PM

Quote from: Wipro on October 18, 2017, 09:38:06 AM

Quote from: Koadharber on October 18, 2017, 08:30:52 AM

Quote from: ThunderCatSteve on October 17, 2017, 11:40:43 PM

Quote from: Rana590 on October 16, 2017, 11:08:17 PM

Quote from: oegarod on September 11, 2017, 01:13:48 PM

Right now converting to fiat is a must requirement, because with bitcoin we haven't got that acceptance in all markets same as that we use traditional currency. So, till such an situation exists we are supposed to convert and use it. Partly the direct acceptance from several companies have been getting increased.

Absolutely right. Bitcoin is not fiat money and we can't buy and use money through bitcoin. In order to do our own work fiat money is necessary. Then we need to exchange our bitcoin on our fiat currency which is accepted by everywhere.

No doubt adoption is still in its early stage and truly, unless we want to deceive ourselves, except for some who receive their major earning with bitcoin and will need to withdraw part of it for upkeep, most people are looking forward to the long term holding.

So, even if we see much adoption from merchants, we might not really see much spendings for now except for some who already have more than enough and can gladly use some to buy somethings. Nevertheless, it is a gradual process and a time will come when bitcoin will be accepted more than we have now.

We are yet on adoption stage and developments is really gradually increasing which means we can really expect that soon many more merchants would able to accept bitcoins in exchange with their service and goods.For now we are still on the stage on actively exchanging our bitcoins in fiat because we know not all parts of the world have the same adoption on each places.

Retailers acceptance on bitcoin is not grown in all the places. There are very few places in Europe and Northern America accepting bitcoin in some merchant stores. Other bitcoin now widely started using in online stores and many people are requesting for the API to add in their online stores. Soon amazon is also gonna accept bitcoin. You have to wait till some years to see bitcoin everywhere.

A lot of people are having the bitcoin now and they are making the bitcoin for the online shopping I don’t know why a lot of the people are holding the bitcoin just to sell it at the panic or to waste the bitcoin for the low price, it is the time to buy the bitcoin and then make the bitcoin the part of your life so buy more and it is easy to buy all the things you can buy from money then why you want to change it.

It's because they can't buy things they are interested because the sellers don't accept Bitcoin yet. But if you don't want to convert Crypto to fiat to buy things you can use a debit card that convert Crypto to fiat instantly on each transaction you execute. I have seen on Youtube a guy using a debit card like this to order fast food and it worked very well... Probably this card takes some extra fee for itself on each transaction, but I'm not sure.

Alpha0One1

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For now, yes! Once the Crypto Credit card ICO's start delivering their products - Centra, TenX, Metal & MCO. We will be able to spend our crypto assets like any currency with those cards!

n691309

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Activity: 1526

Merit: 1001

Quote from: madwica on October 12, 2017, 07:02:49 AM

It is not nessesary but this is one i love to do for trading, bitcoin to fiat even it has a huge gap on buy and sell i can make good profit on that situation just good timing is our key on this method.
I think for now lots of people do this because lots of altcoin now was continuous decreasing its value and its hard to predict when is the best time to buy and sell altcoin and most of them are turning to scam.

This is true for trading purposes. There is a way you can make a whole lot trading bitcoin to fiat using the local exchange. I have made a lot from this once there is a dip, there is just a fund set aside for that and I withdraw my coin and small part of the profit once I am satisfied leaving me with more coins at the end. You just have to be smart and fast with your decisions just like normal trading.

Altas

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As an user mentioned till date what we have got in terms of payment opportunities with bitcoin is very low. This might increase with time as more marketplace has started accepting bitcoin through intermediary service who get in terms of bitcoin and provide the vendor in terms of fiat.

stepwilli

sr. member

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Quote from: xbl1008 on October 17, 2017, 11:28:42 PM

it depends on where you are i guess because not all country is widely bitcoin accepted and you still need to convert into fiat for you to buy goods you needed and for the goods that you wanted but the idea of this crypto currency is very brilliant because it will saves you time from withdrawing from the ATM whereas in bitcoin you can pay directly via QR code or manual sending a very convenient way that saves time and transaction fees, one thing this new medium of exchange is so broad that we can invest from in due to its fast capital appreciation. .

buy bitcoin!

Yes I also agree with you. Till date many people do not accept bitcoin as a regular currency and they want fiat or paper currency for their payments. It is therefore necessary to convert bitcoin into local fiat currency for purchasing something in local markets.

I think it will take more time to deal in bitcoin only and no need to convert bitcoin into any fiat currency, but we will have to wait for some time.

BarbieCasino

sr. member

Activity: 612

Merit: 250

Quote from: Wipro on October 18, 2017, 09:38:06 AM

Quote from: Koadharber on October 18, 2017, 08:30:52 AM

Quote from: ThunderCatSteve on October 17, 2017, 11:40:43 PM

Quote from: Rana590 on October 16, 2017, 11:08:17 PM

Quote from: oegarod on September 11, 2017, 01:13:48 PM

Right now converting to fiat is a must requirement, because with bitcoin we haven't got that acceptance in all markets same as that we use traditional currency. So, till such an situation exists we are supposed to convert and use it. Partly the direct acceptance from several companies have been getting increased.

Absolutely right. Bitcoin is not fiat money and we can't buy and use money through bitcoin. In order to do our own work fiat money is necessary. Then we need to exchange our bitcoin on our fiat currency which is accepted by everywhere.

No doubt adoption is still in its early stage and truly, unless we want to deceive ourselves, except for some who receive their major earning with bitcoin and will need to withdraw part of it for upkeep, most people are looking forward to the long term holding.

So, even if we see much adoption from merchants, we might not really see much spendings for now except for some who already have more than enough and can gladly use some to buy somethings. Nevertheless, it is a gradual process and a time will come when bitcoin will be accepted more than we have now.

We are yet on adoption stage and developments is really gradually increasing which means we can really expect that soon many more merchants would able to accept bitcoins in exchange with their service and goods.For now we are still on the stage on actively exchanging our bitcoins in fiat because we know not all parts of the world have the same adoption on each places.

Retailers acceptance on bitcoin is not grown in all the places. There are very few places in Europe and Northern America accepting bitcoin in some merchant stores. Other bitcoin now widely started using in online stores and many people are requesting for the API to add in their online stores. Soon amazon is also gonna accept bitcoin. You have to wait till some years to see bitcoin everywhere.

A lot of people are having the bitcoin now and they are making the bitcoin for the online shopping I don’t know why a lot of the people are holding the bitcoin just to sell it at the panic or to waste the bitcoin for the low price, it is the time to buy the bitcoin and then make the bitcoin the part of your life so buy more and it is easy to buy all the things you can buy from money then why you want to change it.

Wipro

hero member

Activity: 924

Merit: 512

Quote from: Koadharber on October 18, 2017, 08:30:52 AM

Quote from: ThunderCatSteve on October 17, 2017, 11:40:43 PM

Quote from: Rana590 on October 16, 2017, 11:08:17 PM

Quote from: oegarod on September 11, 2017, 01:13:48 PM

Right now converting to fiat is a must requirement, because with bitcoin we haven't got that acceptance in all markets same as that we use traditional currency. So, till such an situation exists we are supposed to convert and use it. Partly the direct acceptance from several companies have been getting increased.

Absolutely right. Bitcoin is not fiat money and we can't buy and use money through bitcoin. In order to do our own work fiat money is necessary. Then we need to exchange our bitcoin on our fiat currency which is accepted by everywhere.

No doubt adoption is still in its early stage and truly, unless we want to deceive ourselves, except for some who receive their major earning with bitcoin and will need to withdraw part of it for upkeep, most people are looking forward to the long term holding.

So, even if we see much adoption from merchants, we might not really see much spendings for now except for some who already have more than enough and can gladly use some to buy somethings. Nevertheless, it is a gradual process and a time will come when bitcoin will be accepted more than we have now.

We are yet on adoption stage and developments is really gradually increasing which means we can really expect that soon many more merchants would able to accept bitcoins in exchange with their service and goods.For now we are still on the stage on actively exchanging our bitcoins in fiat because we know not all parts of the world have the same adoption on each places.

Retailers acceptance on bitcoin is not grown in all the places. There are very few places in Europe and Northern America accepting bitcoin in some merchant stores. Other bitcoin now widely started using in online stores and many people are requesting for the API to add in their online stores. Soon amazon is also gonna accept bitcoin. You have to wait till some years to see bitcoin everywhere.

Koadharber

hero member

Activity: 1065

Merit: 510

Quote from: ThunderCatSteve on October 17, 2017, 11:40:43 PM

Quote from: Rana590 on October 16, 2017, 11:08:17 PM

Quote from: oegarod on September 11, 2017, 01:13:48 PM

Right now converting to fiat is a must requirement, because with bitcoin we haven't got that acceptance in all markets same as that we use traditional currency. So, till such an situation exists we are supposed to convert and use it. Partly the direct acceptance from several companies have been getting increased.

Absolutely right. Bitcoin is not fiat money and we can't buy and use money through bitcoin. In order to do our own work fiat money is necessary. Then we need to exchange our bitcoin on our fiat currency which is accepted by everywhere.

No doubt adoption is still in its early stage and truly, unless we want to deceive ourselves, except for some who receive their major earning with bitcoin and will need to withdraw part of it for upkeep, most people are looking forward to the long term holding.

So, even if we see much adoption from merchants, we might not really see much spendings for now except for some who already have more than enough and can gladly use some to buy somethings. Nevertheless, it is a gradual process and a time will come when bitcoin will be accepted more than we have now.

We are yet on adoption stage and developments is really gradually increasing which means we can really expect that soon many more merchants would able to accept bitcoins in exchange with their service and goods.For now we are still on the stage on actively exchanging our bitcoins in fiat because we know not all parts of the world have the same adoption on each places.

deadsilent

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Activity: 1148

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Right now we don't have much options but convert them to fiat. It's because Bitcoin still not accepted as a mode of payment. It is because they are skeptical about Bitcoin. The fuctuations of price makes them hesitant. So we have to convert and be able to buy anything we need. Some online shops are accepting bitcoin as mode of payment but they are very rare. You can even count them with your own fingers. They have partnered with third parties like exchange so they can able to liquidate Bitcoin. But hopefully we see many companies, establishment or shops accepts Bitcoin in the future. Recently, Alibaba announced that they are going to accept Bitcoin. But due to stoppage of exchange ooerations. They will not be able to do that since the third parties(exchange) are still not be able to operate.

Quote

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

Me, we have a local wallet which you can convert your Bitcoin to fiat and cashout or send it to your bank account. This very convenient to me because you don't have to send your bitcoin to exchanges just to convert it to fiat. The wallet can do that and cost effective coz you only have to pay for sending or cashout process.

ThunderCatSteve

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Activity: 770

Merit: 505

Quote from: Rana590 on October 16, 2017, 11:08:17 PM

Quote from: oegarod on September 11, 2017, 01:13:48 PM

Right now converting to fiat is a must requirement, because with bitcoin we haven't got that acceptance in all markets same as that we use traditional currency. So, till such an situation exists we are supposed to convert and use it. Partly the direct acceptance from several companies have been getting increased.

Absolutely right. Bitcoin is not fiat money and we can't buy and use money through bitcoin. In order to do our own work fiat money is necessary. Then we need to exchange our bitcoin on our fiat currency which is accepted by everywhere.

No doubt adoption is still in its early stage and truly, unless we want to deceive ourselves, except for some who receive their major earning with bitcoin and will need to withdraw part of it for upkeep, most people are looking forward to the long term holding.

So, even if we see much adoption from merchants, we might not really see much spendings for now except for some who already have more than enough and can gladly use some to buy somethings. Nevertheless, it is a gradual process and a time will come when bitcoin will be accepted more than we have now.

xbl1008

full member

Activity: 322

Merit: 103

it depends on where you are i guess because not all country is widely bitcoin accepted and you still need to convert into fiat for you to buy goods you needed and for the goods that you wanted but the idea of this crypto currency is very brilliant because it will saves you time from withdrawing from the ATM whereas in bitcoin you can pay directly via QR code or manual sending a very convenient way that saves time and transaction fees, one thing this new medium of exchange is so broad that we can invest from in due to its fast capital appreciation. .

buy bitcoin!

GoodLuck2

sr. member

Activity: 630

Merit: 251

Quote from: Almat on October 16, 2017, 04:18:00 AM

It's necessary because very few vendors accept Bitcoin. I would spend Bitcoins on necessities if I could, but only if I don't have cash.

You are right in this regard bitcoin have earned fame and game but it doesn’t up to that mark of being prevailed all over the world. Even if you consider only that countries that have made some amazing things regarding bitcoin, they don’t have that much access and acceptance for it. So better is to have converted in fiat, it mostly benefits you.

supercanada1

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Activity: 798

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Quote from: Almat on October 16, 2017, 04:18:00 AM

It's necessary because very few vendors accept Bitcoin. I would spend Bitcoins on necessities if I could, but only if I don't have cash.

Not now but the bitcoin is being the part of the bitcoin and the value of eh bitcoins is increasing more and more. The bitcoin is being accept by all kind of the people and it is increasing the value of the bitcoin, buy the bitcoin and then hold the bitcoin for the long time, the money is having the huge circle and it is the best thing to buy more and more thing that the simple things we use to buy through the money.

Topic: Turning crypto into fiat or is that even nessesary anymore! - page 13. (Read 7215 times)