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.
In my opinion, there is no point of converting bitcoin into fiat. It is because of the reason that bitcoin is something more profitable and beneficial from profit point of view as compared to that of fiat. Even if there are less number of investors who are investing in bitcoin, you should hold your bitcoin as it is bitcoin which is going to give you more profit. Converting into fiat unless necessary is of no use.
Topic: Turning crypto into fiat or is that even nessesary anymore! - page 14. (Read 7223 times)
It has become irrelevant to convert btc or altcoin to fiat unless you are need of it.now major potential altcoin also has become major investment asset that you can rely on get profit out of them.btc will increase day by day as more and more investor pop in so just hold it or do some trading to increase the quantity.
If you the person earning bitcoin or altcoins is whale, he does not need to sell out the coins all the time but if you are from the middle class family to console your needs you will sell the coins all the time.
Since price increasing every day due to the effect of future hard fork you can hold the bitcoin till November 25, then you can sell out for future.
Converting cryptos to fiat before spending it is non-negotiable for those if us in Africa. We really can't spend them except we exchange them for paper money either online on in person. The crypto idea hasn't really caught up here like it is in Europe and Asia. So, I would say yes, conversion is necessary.
Yeah you are right we can't say bitcoin is accepted everywhere so we have to convert it into fiat currency.But when everyone started to use cryptos there will be no need for conversion maybe that will happen in 2025.In today's situation the conversion is important to buy or pay anyone.
It has become irrelevant to convert btc or altcoin to fiat unless you are need of it.now major potential altcoin also has become major investment asset that you can rely on get profit out of them.btc will increase day by day as more and more investor pop in so just hold it or do some trading to increase the quantity.
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.
In my opinion, there is no point of converting bitcoin into fiat. It is because of the reason that bitcoin is something more profitable and beneficial from profit point of view as compared to that of fiat. Even if there are less number of investors who are investing in bitcoin, you should hold your bitcoin as it is bitcoin which is going to give you more profit. Converting into fiat unless necessary is of no use.
There is a crypto debit card available but it's subject to KYC as usual... but since it's backed by VISA .. essentially you can use it anywhere that accepts a VISA card ... that makes FIAT even less necessary except when you load the card... the day will come when everything will be priced in BTC
If you are going to be converting crypto to fiat on a regular basis it just makes no sense to do anything but sell it yourself. It takes some time to build up reputation on the p2p sites like paxful or localbitcoins.com but if you are earning a steady stream of crypto's it's worth the investment as you'll be getting 5%-15% above the spot rate when you sell it yourself.
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. 
Converting cryptos to fiat before spending it is non-negotiable for those if us in Africa. We really can't spend them except we exchange them for paper money either online on in person. The crypto idea hasn't really caught up here like it is in Europe and Asia. So, I would say yes, conversion is necessary.
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.
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.
Just like earlier pointed out already, I exchange my bitcoins for fiat currency on localbitcoins.
I usually wish to sell whenever I need some cash to spend in the real world, since Bitcoin is not a accepted as a means of payment in my country.
But at anytime, I make sure that I still have some bitcoins left in my wallet.
I think most of people do this. Bitcoin is not fiat currency and it is not acceptable for all necessary work on any country. For this reason, people have to depend on fiat currency and they exchange bitcoin on their native currency. But it is the wisest decision to save some Bitcoin on own wallet. I usually wish to sell whenever I need some cash to spend in the real world, since Bitcoin is not a accepted as a means of payment in my country.
But at anytime, I make sure that I still have some bitcoins left in my wallet.
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.
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.
I have some bitcoin crypto in my wallet account and then when I need money to meet my daily needs of course I will trade some bitcoin crypto I have with paper money. then I will transfer to my account number and of course half bitcoin I have will keep me for a long term investment. I think the money I have to pay for fiat transfers that I have my account number is not too expensive so I am quite happy to do this.
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.
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.
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.
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.
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.
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 exchange between crypto currency to fiat is still far from over unless countries started adopting it and legalize it then it wont be neccessary anymore to convert it to fiat. Cause if a country started accepting bitcoin then you can pay any businesses with bitcoin whether its a resto bar,restaurant, hotel or mall. I think the most efficient way to convert crypto to fiat is find a site that lets you convert into currency from my country we have coins.ph although the fees is quite high but its better than nothing.
I don't think you quite understand how Bitcoin adoption works. First off, there is no real thing such as a country "legalizing" Bitcoin. Bitcoin is already legal in most places around the world and we still don't see it being adopted by businesses. There is little incentive for businesses to adopt it even if it is promoted in a certain country. As much as people here like to think otherwise, Bitcoin is not really a means to avoid taxes or have a more convenient way to transact (at least not yet). What do you mean by a country accepting Bitcoin, exactly? I can't understand what you are trying to say by that, as it is not up to a government to dictate what businesses or financial institutions should be using.
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