Why should i always have fiat? - page 3.

askmecrypto

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First thing first, you should always have fiat (not only to buy more crypto) but to survive in the world too Wink

I have said this on many other threads too, one of the most important rule of investment is not investing your entire funds in a single financial instrument. Dont just invest in crypto, invest in real estate, bonds, gold, etc. And always keep extra fiat with you to buy the dips in uncertainties.

Open4lies

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At the present time, when fiat currency is still a popular currency used to buy products for life, it is still necessary next to cryptocurrency. But hopefully, in the future, cryptocurrency will become more popular and be able to replace the fiat currency, until then we will not need to use cash anymore.

JeffBrad12

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Quote from: Lanatsa on October 15, 2018, 06:00:49 PM

Quote from: BALIK on October 15, 2018, 05:42:00 PM

You need fiat currency because you would not want to have all your cash tied up into crypto investments particularly, given the market fluctuation. Plus, not taking into account the security issues related to the wallet etc. And in anyway, you'd also want to place quick transactions mainly possible with fiat currency since not all platforms accept crypto payments.

Thanks to stable coins which you can easily jumped out and secure funds without the risk of volatility but i dont really have much trust on using up these coins but im still observing.
It is really just a dumb thing for you to do on putting all of your fiat into crypto investment yet we do have another priorities in life.

The main thing is about to secure our funds and that's the only point that makes sense for me personally. fiat can be used to enter the market when they are getting down due to the bearish trend. you should not mention the daily life because it's in another field. this question is related to the what's the usefulness of fiat in the crypto.

Hueristic

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Quote from: Hueristic on October 14, 2018, 05:58:28 PM

Quote from: siddartha1492 on October 14, 2018, 02:37:19 PM

Or maybe you can have some stable coins like USDT. I think they can also benefit users in a situation like you mentioned above. But of course, one should have adequate amount of fiat too. I don't really buy the whole anti-fiat idea. Crypto is great, but fiat is also important. So have some fiat, no matter what.

USDT is far from stable ATM and you would be well advised not to Hold them.

Well it didn't take long for this to be true now did it?

I like it when I get to quote myself.

Green_Bulb

jr. member

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Apart from keeping fiat for cases when you can`t use Crypto, your tip is yet another argument against changing all your fiat to Crypto. Kudos for pointing in out.

ADgordo

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The World’s First Blockchain Core

You should always have a fiat because market is very volatile and we dont know about what will the prices will be tomorrow. so as we can see last 5 months we decreased nearly 95 percentage. if in may we save some money.. we can buy huge amount of tokens for now. so i believe always we should have some fiat. we need to remember that during bulls and we need to divide some money for bear.

ivankoh

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You always need fiat because it meets the basic needs of your life. Also it is the best reserve for investors if unfortunately the market you invest in collapses. Fiat is a very good choice if the market is volatile.

blockchainmarketus

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You buy daily needs with fiat. Cryptocurrency is not accepted by offline vendors so fiat is No 1. The ICO developers are looking for fiat by selling tokens, yeah worthless tokens with fiat. it is a crazy things now, from Scams ICO to pump dump ICO is looking for eth then change to fiat. Do you use cryptocyrrency to shop near your house?

Lanatsa

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Quote from: BALIK on October 15, 2018, 05:42:00 PM

You need fiat currency because you would not want to have all your cash tied up into crypto investments particularly, given the market fluctuation. Plus, not taking into account the security issues related to the wallet etc. And in anyway, you'd also want to place quick transactions mainly possible with fiat currency since not all platforms accept crypto payments.

Thanks to stable coins which you can easily jumped out and secure funds without the risk of volatility but i dont really have much trust on using up these coins but im still observing.
It is really just a dumb thing for you to do on putting all of your fiat into crypto investment yet we do have another priorities in life.

acheampong64

full member

Activity: 588

Merit: 100

Yeah you're right and that's why there are stable coins around. Crypto enthusiasts thought it wise to help people get some sort of stability as you're saying and so you can easily convert your money to a stable coin, keep it for how long as you wish and then convert back one day when it becomes necessary.

Awoben

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One of the best concept, having some fiat helps to make a fresh investment when a coin you invested in falls far beyond your purchase price. Doing so you can make more profit before your previous entry point is reached.

BALIK

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🍓 BALIK Never DM First

You need fiat currency because you would not want to have all your cash tied up into crypto investments particularly, given the market fluctuation. Plus, not taking into account the security issues related to the wallet etc. And in anyway, you'd also want to place quick transactions mainly possible with fiat currency since not all platforms accept crypto payments.

Sacrib

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Quote from: Noobaru on October 14, 2018, 03:39:47 PM

Of course you should always have fiat at your side and there are several reasons for that. Fiat is somehow stable while cryptocurrency is not at this early stage. You can always buy a lot more with fiat while cryptos are not yet mainstream. Don't put all of your savings into crypto since you can easily get burned.

And the last sentence is the most important to understand! Specially for the new members in our community, because this way we'll have a lot of negative feedback..

Dart18

sr. member

Activity: 1400

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It is not just for those.
Traditional money aint going anywhere yet. We will be using it for a long time. Ask even those serious bitcoin enthusiast here and you will see a lot of them still goes the old way. Fiat.

Yeah bitcoin is great no doubt about that. But this world is still living with the usage of just paper money.

cryptocyprus

sr. member

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It is always necessary to have cash or any Fiat money. Convert all your money in cryptocurrency in the hope that it will begin to grow extremely stupid. Any investment involves risk, so you should always leave Fiat money.

Luvr1000

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in my opinion, Fiat should be among all investors and ordinary people, because if you like the project, you can freely invest, because Fiat money is always stable

poodle63

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Quote from: Bonwin on October 14, 2018, 02:12:49 PM

One of the mistakes that some crypto enthusiasts make is to convert all the fiats they have been able to accumulate all these while into cryptocurrency, which is wrong.

There are times you might seriously need fiats, not just because you do not want to invest all that you have into crypto alone, but to sometimes cover-up for your losses.

How does it work?
Take for instance every coin you invested in had plunged, just like what happens during bearish market. Then you notice another coin that has the potential to give you more than x2 of your investment. You may not be able to afford selling those coins you initially had, which had plunged.
In this case, you might need your fiat to purchase another coin(eth or btc), that can be used to make the new purchase.

This works most times for traders and sometimes for investors.
Before you know it, you would have recover your losses within a short time and you will have nothing to worry about.

It works for me and i just wished to share the idea, peradventure you will find it useful.

To buy them more cheap coins when they are getting dumped from the top price and it could be the main reason. fiat will give you a lot of guarantee and then spent some of your money and save them in fiat form. it's so easy to get more than 20% return in the dumping market use fiat.

ambisyon

jr. member

Activity: 322

Merit: 1

My opinion to this is that it depends on the people's priority regarding the need of fiat money and I think that it should be better that people should only convert there crypto coin into fiat only the amount they need and should retain behind. With this, I think that people should have to hold and save their btc as this will soon to grow and earn good profit.

Eildosa

member

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Merit: 10

You're right. I also use this strategy, because we really never know how the market can behave and we must be ready for anything.

crenfrosck

member

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I have to agree with you. Going full crypto is an absolute craziness (well, for now). You never know what will happen in your life and if you put an amount you cannot handle to these volatile assets, you are going to be in a great trouble sooner or later. At the moment, there are just a few ways how to use crypto in a daily life: and there is a possibility that it will never happen. Common sense and DYOR are essential skills to survive in any kind of investments.

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