Topic: Turning crypto into fiat or is that even nessesary anymore! - page 7. (Read 7223 times)
At this time I think it is still necessary to turn SOME of your Bitcoins to fiat currency especially when doing Bitcoin is your only means of earning. However, if doing Bitcoin is just one of your many sources of income, then I do not think you would even want to cash out your Bitcoins. We still live in an era wherein Bitcoin is still not the money used to pay our bills. We are still stuck in the traditional fiat era. Hence, when we need something for sustenance or for business, you would want to convert your Bitcoins to fiat currency to use them.
It ain't about the centralized vs decentralized but it's about the fact of which one is more convenient, if I get to convert my crypto currencies into fiat directly with a fair fee and done easily I would but what is more convenient for me? the most reliable and simplest method for now is for me to first convert them into Bitcoin and then into local currency not because there are no buyers or service providers accepting them but because the easiest way is to forget about finding the right people to use the coins directly without needing to exchange to fiat at all, fortunately Bitcoin is heading the right direction where we always wanted it, having the ability to only use it as the mainstream currency.
Yes it is right. We should take a look on which instance that bitcoin become more useful than fiat.Which is more convinient to use .
Is it the bitcoin or the fiat.
Actually for me its still need to exchaange btc in to fiat . Because as we all know bitcoin has no pgysical appearance in the market
Aside from that bitcoin are not yet legalize by world wide.
Very few country are honoring btc as a direct pay offs.
I think it's still needed cause there are very few place that everyone can use Bitcoin directly for payment cause Bitcoin is not legalized worldwide so for almost people all over the world they still need to exchange Bitcoin into fiat if they want to use it to buy anything or pay for bill.
Yea, most especially now that the usage of bitcoin is not widespread and hardly will you walk up to 10 stores before you even get the chances of seeing anyone accepting bitcoin for now. Except for countries like Japan so far that has been able to legalize and regulate bitcoin, I really want to believe it must have given some merchants more chance to play around its usage than in places where it is not.We still need it at least for now as the merchant is limited , people cannot do much with bitcoin in their daily lives.
Or just simply you should become the pioneer who adopt bitcoin as the payment tool in your own store.
For now but for the next couple of years, fiat would be big no. Crypto would go from here and there and you can only choose different altcoin and not different fiat currency for paying.
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
1. avoiding the whole exchanging from crypto to fiat to take care of financial responsibilities out side the Crypto-space
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.
However don't consider this like a fiat which can be spend for shopping and everything. Cryptocurrency is an investment that will helps to grow your fiat at the same time. So i suggest you to hold them untill its needed in emergency.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
1. avoiding the whole exchanging from crypto to fiat to take care of financial responsibilities out side the Crypto-space 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.
Conversion is not needed if cryptos can be accepted wherever the fiat as a payments system. I will not recommend localbitcoin.com as they have few trusless people but coinbase is pretty good since i heard recommendation for most of the people
i choose Turning crypto into fiat because i need fiat more than bitcoin bitcoin now is as investment for me .
also bitcoin is important so turning what i need from fiat and sell other
also bitcoin is important so turning what i need from fiat and sell other
In any case, the money should be stored in different places and in different currencies. Part should be in crypto, some in the Fiat.
Another reason for them for not holding cypto is volatility of cryptos. But for someone who really understands the trend with crypto and how far we have come, volatility should even be of less concern. At this time that things have even gotten much better as the strength of bitcoin keeps increasing and we are not seeing corrections that would even stay for too long, that shows that the market is getting matured.
Fiat is even as volatile as crypto, the only difference is that the government just always no how to hide it by manipulating the currency so we can think whatever we want to think on the value we want to place on it.This is one of the reasons why they decided to make some people powerful so they can always do the needful when situations like that come. Crypto on the hand is decentralized, what we place on it, is the value it is going to be and that makes it even more awesome.
We still rule by fiat today unfortunately, it is necessary also to save the value of your bitcoin in times of sudden fluctuations of price
Yeah, most especially for those who may want to spend or have their major source of income in cryptocurrency ! The necessity to convert to fiat is still there until maybe we can see merchants getting to start making use of it and in that case, bitcoin itself would have become usable for micro transactions and that would mean the scaling issue has been in a way resolved and being upgraded every time.Another reason for them for not holding cypto is volatility of cryptos. But for someone who really understands the trend with crypto and how far we have come, volatility should even be of less concern. At this time that things have even gotten much better as the strength of bitcoin keeps increasing and we are not seeing corrections that would even stay for too long, that shows that the market is getting matured.
We still rule by fiat today unfortunately, it is necessary also to save the value of your bitcoin in times of sudden fluctuations of price
I think it's still needed cause there are very few place that everyone can use Bitcoin directly for payment cause Bitcoin is not legalized worldwide so for almost people all over the world they still need to exchange Bitcoin into fiat if they want to use it to buy anything or pay for bill.
Yea, most especially now that the usage of bitcoin is not widespread and hardly will you walk up to 10 stores before you even get the chances of seeing anyone accepting bitcoin for now. Except for countries like Japan so far that has been able to legalize and regulate bitcoin, I really want to believe it must have given some merchants more chance to play around its usage than in places where it is not.We still need it at least for now as the merchant is limited , people cannot do much with bitcoin in their daily lives.
Or just simply you should become the pioneer who adopt bitcoin as the payment tool in your own store.
I think it's still needed cause there are very few place that everyone can use Bitcoin directly for payment cause Bitcoin is not legalized worldwide so for almost people all over the world they still need to exchange Bitcoin into fiat if they want to use it to buy anything or pay for bill.
Yea, most especially now that the usage of bitcoin is not widespread and hardly will you walk up to 10 stores before you even get the chances of seeing anyone accepting bitcoin for now. Except for countries like Japan so far that has been able to legalize and regulate bitcoin, I really want to believe it must have given some merchants more chance to play around its usage than in places where it is not.We still need it at least for now as the merchant is limited , people cannot do much with bitcoin in their daily lives.
Or just simply you should become the pioneer who adopt bitcoin as the payment tool in your own store.
I think it will depend upon the situation of the person, if they can survive without turning crypto currency into fiat, that is well and good, but if they have to, it is upon their discretion, but if you are looking at it as an investor, it is not advisable since below 100000 usd, is still considered a low value for bitcoin, if we could wait, let's keep investing and hodl for a long period.
I think still majority of people feel the need to convert their bitcoin in to fiat. Actually still in most of the places people do not have the facilities of using bitcoin for shopping directly without changing it into fiat currency, may be in very few places like Japan and Brazil people have some opportunities but still even they cannot purchase everything using bitcoin because not all the shopkeepers are accepting bitcoin for shopping. There is no way you can really spend much of what you have these days since you can still hardly see merchants in most places accepting bitcoin. That would change in the long run anyway, but until then, there is still a huge need for fiat for those who are still into the game of having spending some of what they have.
Frankly, I am still a bit scared of cryptos because they are so volatile and stuff, but appart from that, I cannot think of any good reason to have fiat .. at all.
That is why you need to be focused on it. Get yourself always updated with news and development and must be aware of the price movement. It is still necessary to turn crypto into fiat since local stores are not accepting Bitcoin yet. And without them accepting Bitcoin, there is always a reason to convert Crypto into fiat, the best thing is we should know when to convert to take the maximum profit out of the conversion.
Since its not popular here yet and no stores or malls are accepting it for payment we have to convert to fiat first using our local exchange before we can use it. Maybe in the future we can see changes when btc is widely recognize by many countries.
Well, I can use it as I wish in my country but let's decide to pay with it and don't look to exchangers. These people looks price of bitcoin in usd, so if it falls, I have to send more bitcoin or oppositely, it rises and I even get profit. There are both risks and finally it is measured by USD so big no to your post, there is a need to convert it in fiat.
Frankly, I am still a bit scared of cryptos because they are so volatile and stuff, but appart from that, I cannot think of any good reason to have fiat .. at all.
That is why you need to be focused on it. Get yourself always updated with news and development and must be aware of the price movement. It is still necessary to turn crypto into fiat since local stores are not accepting Bitcoin yet. And without them accepting Bitcoin, there is always a reason to convert Crypto into fiat, the best thing is we should know when to convert to take the maximum profit out of the conversion.
Since its not popular here yet and no stores or malls are accepting it for payment we have to convert to fiat first using our local exchange before we can use it. Maybe in the future we can see changes when btc is widely recognize by many countries.
I think it's still needed cause there are very few place that everyone can use Bitcoin directly for payment cause Bitcoin is not legalized worldwide so for almost people all over the world they still need to exchange Bitcoin into fiat if they want to use it to buy anything or pay for bill.
Yea, most especially now that the usage of bitcoin is not widespread and hardly will you walk up to 10 stores before you even get the chances of seeing anyone accepting bitcoin for now. Except for countries like Japan so far that has been able to legalize and regulate bitcoin, I really want to believe it must have given some merchants more chance to play around its usage than in places where it is not.I think it's still needed cause there are very few place that everyone can use Bitcoin directly for payment cause Bitcoin is not legalized worldwide so for almost people all over the world they still need to exchange Bitcoin into fiat if they want to use it to buy anything or pay for bill.
Yea, most especially now that the usage of bitcoin is not widespread and hardly will you walk up to 10 stores before you even get the chances of seeing anyone accepting bitcoin for now. Except for countries like Japan so far that has been able to legalize and regulate bitcoin, I really want to believe it must have given some merchants more chance to play around its usage than in places where it is not.
I think it will depend upon the situation of the person, if they can survive without turning crypto currency into fiat, that is well and good, but if they have to, it is upon their discretion, but if you are looking at it as an investor, it is not advisable since below 100000 usd, is still considered a low value for bitcoin, if we could wait, let's keep investing and hodl for a long period.
I think still majority of people feel the need to convert their bitcoin in to fiat. Actually still in most of the places people do not have the facilities of using bitcoin for shopping directly without changing it into fiat currency, may be in very few places like Japan and Brazil people have some opportunities but still even they cannot purchase everything using bitcoin because not all the shopkeepers are accepting bitcoin for shopping. There is no way you can really spend much of what you have these days since you can still hardly see merchants in most places accepting bitcoin. That would change in the long run anyway, but until then, there is still a huge need for fiat for those who are still into the game of having spending some of what they have.
Only then we’ll be able to make something good out of it. There are certain places where you can use your bitcoin too but those are very few.
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
1. avoiding the whole exchanging from crypto to fiat to take care of financial responsibilities out side the Crypto-space
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.
The time you are talking about where people won't feel the need to convert cryptocurrencies into fiat money is still a lot ahead because there are hardly few countries where bitcoin can be used as legal tender to buy anything and on the other hand there are many such countries where bitcoin is not accepted some countries it is illegal from what I have heard. Another reason is people would avoid the use of bitcoin in buying daily items would be the transaction fees and confirmation time, people use cash for those reasons as no confirmation time is required and transaction fees at that level. 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
1. avoiding the whole exchanging from crypto to fiat to take care of financial responsibilities out side the Crypto-space 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 think it will depend upon the situation of the person, if they can survive without turning crypto currency into fiat, that is well and good, but if they have to, it is upon their discretion, but if you are looking at it as an investor, it is not advisable since below 100000 usd, is still considered a low value for bitcoin, if we could wait, let's keep investing and hodl for a long period.
I think still majority of people feel the need to convert their bitcoin in to fiat. Actually still in most of the places people do not have the facilities of using bitcoin for shopping directly without changing it into fiat currency, may be in very few places like Japan and Brazil people have some opportunities but still even they cannot purchase everything using bitcoin because not all the shopkeepers are accepting bitcoin for shopping. There is no way you can really spend much of what you have these days since you can still hardly see merchants in most places accepting bitcoin. That would change in the long run anyway, but until then, there is still a huge need for fiat for those who are still into the game of having spending some of what they have.
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