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Topic: Turning crypto into fiat or is that even nessesary anymore! - page 2. (Read 7223 times)

sr. member
Activity: 924
Merit: 255
Yes it's necessary because not most countries know about crypto currency or accept it as payment for goods and services like for instance in third world countries that's why it's necessary for crypto to be converted back to fiat to use it but if maybe if digital currency becomes mainstream globally then it would become a game changer and there's no need for conversion anymore.
Regarding acceptance, basically I think that there is still a chance that crypto can be more accepted in various countries, but maybe it's gradually from one country to another, and all indeed require a process from a variety of specific considerations from the governments of each country.
At this time about converting it to fiat or not.. it clear depends on each of them related to the country where they live, whether it was legalized or not yet about its role.
newbie
Activity: 106
Merit: 0
It is totally your will and you can do it, if you wish to do it.
jr. member
Activity: 105
Merit: 4
How much I heard that the Master card agrees to the use of their cards in the field of cryptocurrency. I saw the news about this on July 17, 2018. So I think, in a short time with the withdrawal of the amount of cryptocoins to Fiat money, no problems.

Yeah but MasterCard is going to do something shady about it, I guarantee it. They'll probably turn it into some kind of banker's tool for borrowing money or something like that.

Yes it's necessary because not most countries know about crypto currency or accept it as payment for goods and services like for instance in third world countries that's why it's necessary for crypto to be converted back to fiat to use it but if maybe if digital currency becomes mainstream globally then it would become a game changer and there's no need for conversion anymore.
To do this depends on the country where they accept electronic money. Then check which units they have used to make electronic payments. Electronic cash replacement is not currently available. In fact, few use these transactions. And the future does not dare to assert it, but I hope it comes true.

That's why the USD is still being widely used. There's no really connection between these other currencies and crypto so most prefer to transact in USD or EUR. This is also the purpose of USDT, but I've heard that this tether has been manipulated in price at certain key moments
newbie
Activity: 98
Merit: 0
Because it is the most easiest way to access offline and online businesses and merchants, and right now we are dealing with Bitcoins slow transactions and high fees issue. Now, how can you say that converting Bitcoin into fiat isnt necessary anymore? Are you sure that all your necessities can be bought with Bitcoin, coz in my country I cant, although there are few who accepts.
jr. member
Activity: 266
Merit: 2
The Premier Digital Asset Management Ecosystem
Cryptocurrencies are still relatively new financial assets. And it has no stability right now.
In order to pull and lock your profits, you have to convert it to fiat.
The volatility in crypto makes it unfavorable as a store of value.
newbie
Activity: 42
Merit: 0
I don’t think that it is the right thing to do and you cannot really depend on them.
member
Activity: 350
Merit: 10
Yes it's necessary because not most countries know about crypto currency or accept it as payment for goods and services like for instance in third world countries that's why it's necessary for crypto to be converted back to fiat to use it but if maybe if digital currency becomes mainstream globally then it would become a game changer and there's no need for conversion anymore.
To do this depends on the country where they accept electronic money. Then check which units they have used to make electronic payments. Electronic cash replacement is not currently available. In fact, few use these transactions. And the future does not dare to assert it, but I hope it comes true.
legendary
Activity: 2912
Merit: 1068
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Cryptocurrencies and especialy Bitcoin in many countries have become more equal to fiat money then they were before but still they are not accepted enough. You just can't buy any goods or services that you want with crypto.
Some solution for that are Bitcoin debit cards that enable you to make payments not thinking if merchants are excepting direct crypto payments or not.
With better Bitcoin regulations some problems regarding payments might get better so I hope we will get more opportunities soon.
newbie
Activity: 140
Merit: 0
I believe that most investors only care about the return on investment, they do not care whether the cryptocurrency can become a statutory coin! Conversely, if the cryptocurrency is legalized, its interest rate may be reduced!
hero member
Activity: 2870
Merit: 574
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yes you are right for now to convert cryptocurrency to fiat is not very important anymore because for now there will be more platforms that can receive cryptocurrency payments so that it can facilitate buyers who want to make cryptocurrency payments.

I think it still important for me to convert crypto to fiat because I still need fiat to buy something and for another thing. but I use crypto for investment and so far, I can have my crypto in my wallet and I can convert my coin to fiat in the same time. maybe in your country, you don't have to convert crypto to fiat because there are third-party services that can help you when you want to buy something with your coins. but in here, I don't think that there are any services that can help me because my government still not giving any statement about the crypto.
full member
Activity: 756
Merit: 102
yes you are right for now to convert cryptocurrency to fiat is not very important anymore because for now there will be more platforms that can receive cryptocurrency payments so that it can facilitate buyers who want to make cryptocurrency payments.

converting crypto to fiat is still verry important because if you do not convert your crypto , there is a chance that the value of your cryptos will reduce due to the effects of volatility . not unless you did not really care about that but for most people like me , i will still prefer to convert my cryptos to fiats  more oftenly as soon as i already get my profit .  im also aware that there are now lots of platforms and merchants that are now accepting cryptocurrency in exchange for their goods and services which is also good to hear .
full member
Activity: 470
Merit: 102
yes you are right for now to convert cryptocurrency to fiat is not very important anymore because for now there will be more platforms that can receive cryptocurrency payments so that it can facilitate buyers who want to make cryptocurrency payments.
sr. member
Activity: 1400
Merit: 269
Yes it's necessary because not most countries know about crypto currency or accept it as payment for goods and services like for instance in third world countries that's why it's necessary for crypto to be converted back to fiat to use it but if maybe if digital currency becomes mainstream globally then it would become a game changer and there's no need for conversion anymore.
full member
Activity: 265
Merit: 100
It is harder to make Bitcoin cash than thought, because the value of Bitcoin is too large and when converted to cash it will be worthless, if there is a Bitcoin coin we will be able to use.
full member
Activity: 322
Merit: 100
It is necessary when you want to pull out and lock your profits. The volatility in cryptocurrency makes it unsuitable as a 'store of funds'.
I pull out a percentage of my profits, and continue reading with the available capital.
The important thing to do is to secure your initial investment so that you can continue investing in the next time you will not be able to continue with the cryptocurrency market if you do not have the money. I think financial investment is a game for those who have enough knowledge and understanding of the crowd.
sr. member
Activity: 726
Merit: 250
When the crypto and Fiat will stand together .For us there is no difference than paying someone to be the Fiat and who is the crypto (it's now cash or Bank card ) Forward revolution of the 21st century ,and we are members!
When electronic money is transformed into a replacement for cash or bank cards for payment of utility services, we have a successful start of encryption technology .
newbie
Activity: 98
Merit: 0
When the crypto and Fiat will stand together .For us there is no difference than paying someone to be the Fiat and who is the crypto (it's now cash or Bank card ) Forward revolution of the 21st century ,and we are members!
newbie
Activity: 158
Merit: 0
If the cryptocurrency can be legalized, then it may have obvious advantages and disadvantages. First, it may develop faster and better because it is supported by the government, but its return on investment will be reduced. You can refer to stocks or futures!
newbie
Activity: 154
Merit: 0
It is necessary when you want to pull out and lock your profits. The volatility in cryptocurrency makes it unsuitable as a 'store of funds'.
I pull out a percentage of my profits, and continue reading with the available capital.
legendary
Activity: 1204
Merit: 1028
I know this subject has been looked at before but with the speed at which the cryptospace changes I felt the subject deserved a fresh look, and why not obtain that fresh look from the experts that are currently at the forefront of using crypto, namely all of you here on Bitcoin Talk forum.

I know there will be a time when it will not be necessary to change from fiat to crypto and vise versa. Hell that time may already be here. If the time has come where that exchanging of one to another is no longer necessary then i definitely need an update because that would save a lot of time and money. So if you would please share your insights and knowledge with the rest of us on 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

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

Please remember that ideas are awesome and helpful to further a subject so please do share yours, but with that being said please remember that lots of people that read this may be new to crypto so please do include details and specifics such as names of places, cost and special steps that maybe needed to accomplish your way of doing something. I want to thank you all in advance for your participation and for all that you give on a daily basis to help improve and add to the Crypto-space.
 
I believe that is necessary because you can’t do without fiat. Your country’s currency is very important cause you can’t do without it, you can’t buy anything if you don’t have fiat with you. You can’t just go into the market and be asking people to sell to you with Bitcoin lol, nobody is doing that, you can only find Bitcoin being accepted online (although I know that in very few countries that there are a little number of people that might do that.

But what I know is this– you must always change your cryptocurrencies to fiat before making use of them. If not, then ask yourself why you always get worried when the price of Bitcoin drops. Lol, that’s because you know that your main reason for using BTC is to make profit and withdraw to fiat.
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