Selling All Cryptocurrency for Fiat and Earning Interest?

[hatshepsut93]

I agree with what you said. Storing all your assets in Bitcoin is very risky because if the price can rise to hundreds of thousands of dollars then one day BTC can also fall to several thousand dollars. But I believe that will not happen in the near future and may even be impossible to happen. But it's a good idea to be careful by investing your money in safe assets such as gold, shares or property.

The problem I see is we don't really understand how valuable Bitcoin should be. It has a good utility as a store of value, but how much exactly that utility should cost. Is $1,000 per coin enough or $50,000 is a fair price or maybe $1M? That's why it's both possible that it will be worth a lot more or a lot less or even will stabilize not farm from the current range. That's why putting majority of your wealth into Bitcoin is not a good idea (if you have a lot of wealth) - it's too unpredictable.

[majeed]

That's playing it too safe, too small! Big picture: Bitcoin is future, fiat is past. The past? Similar to a sinking ship. The economy? Inflation? It eats your money for breakfast.  Now consider Bitcoin. This is more than money; it's a movement. Let me clarify: I'm not advocating recklessness. Diversification matters. Do not put all your eggs in one basket.

About $650,000 post-tax. It seems like a lot, but in these economy? A drop in the ocean. Interest-based living? That's fantasy living. Inflation devours interest like a shark. Bitcoin alone wins this game. It's a statement and an investment.  "I'm ahead of the curve." Avoid adhering to outdate safe investment ideas. The world is changing, and Bitcoin leads.

[BIT-BENDER]

Well it depends on what you goals are, we all don't have similar interests or desires, as a Crypto-currency investor that's interested in gains from selling your crypto-currency you don't necessarily have to sell your cryptos to Fiat you can actually make use of stable coins a Good example is USDT (it's pegged to the value of the US dollar).
Where is the sense in selling your crypto-currency into Fiat because you have reached your gain goals only to buy back crypto when you see another opportunity, learn to explore the opportunities Crypto-currency already offer

[Natsuu]

$650,000 will actually do a whole lot if the person were assuming isn’t a luxurious person.

It actually takes a rare personality to have a whooping 1 or 2 million dollars and put it in the bank then live off the interest you get. Everyone wants to live life to the fullest so they get to do something with their money… buy a house, car, travel, etc. But wait, why do you have to put such amount of money in the bank when you can invest that money in businesses? Real estate is a good business, and many other options out there that can give you more than just 7% of your money. Also, some people may want to rather still invest in Bitcoin than take it all out.

It depends. Someone barely surviving would rather spend the money in necessities to survive rather than invest and risk the money. Choosing the right investment strategy aligns with individual goals and risk tolerance and we should balance it between enjoying the present and securing the future. Whether it's real estate, businesses, or digital assets, a thoughtful approach can yield financial success and fulfillment.

[oktana]

$650,000 will actually do a whole lot if the person were assuming isn’t a luxurious person.

It actually takes a rare personality to have a whooping 1 or 2 million dollars and put it in the bank then live off the interest you get. Everyone wants to live life to the fullest so they get to do something with their money… buy a house, car, travel, etc. But wait, why do you have to put such amount of money in the bank when you can invest that money in businesses? Real estate is a good business, and many other options out there that can give you more than just 7% of your money. Also, some people may want to rather still invest in Bitcoin than take it all out.

It depends. Someone barely surviving would rather spend the money in necessities to survive rather than invest and risk the money. Choosing the right investment strategy aligns with individual goals and risk tolerance and we should balance it between enjoying the present and securing the future. Whether it's real estate, businesses, or digital assets, a thoughtful approach can yield financial success and fulfillment.

Excuse me, how can someone who has so much money be barely surviving? That’s hilarious to hear. Also, what on earth will someone NEED all that money for at a short time? Unless the person wants to squander the money on their wants and unnecessary things, that’s a lot of money my friend. You can’t even be in-depth of all that money unless you’re a wealthy person. Yes, you may put some money for needs and wants but if you do not want the money to finish, you have to starve yourself of certain things and invest the money somewhere.

[taufik123]

Excuse me, how can someone who has so much money be barely surviving? That’s hilarious to hear. Also, what on earth will someone NEED all that money for at a short time? Unless the person wants to squander the money on their wants and unnecessary things, that’s a lot of money my friend. You can’t even be in-depth of all that money unless you’re a wealthy person. Yes, you may put some money for needs and wants but if you do not want the money to finish, you have to starve yourself of certain things and invest the money somewhere.

Very Funny, you must not have thought that there is such a person, having a lot of money but living hard more precisely a simple life.
Is there really such a person?

This is like the SBF story that was documented by NAS Daily and tells that millions of dollars he did not take and only used for charity, LOL.
But in fact SBF is a villain and a con artist LOL.

https://www.youtube.com/watch?v=H5-AEGz2PJ0

People with a lot of money and seemingly limitless, of course, always have a goal for what the money is spent.
Although they squandered it, they still have investment.
But we also don't know what's really going on.

People who have unlimited money like YouTuber Mr. Beast,
he spends money uniquely of sharing in unusual ways, and of course behind all that there are investments made to grow his wealth.

[oktana]

Excuse me, how can someone who has so much money be barely surviving? That’s hilarious to hear. Also, what on earth will someone NEED all that money for at a short time? Unless the person wants to squander the money on their wants and unnecessary things, that’s a lot of money my friend. You can’t even be in-depth of all that money unless you’re a wealthy person. Yes, you may put some money for needs and wants but if you do not want the money to finish, you have to starve yourself of certain things and invest the money somewhere.

Very Funny, you must not have thought that there is such a person, having a lot of money but living hard more precisely a simple life.
Is there really such a person?

This is like the SBF story that was documented by NAS Daily and tells that millions of dollars he did not take and only used for charity, LOL.
But in fact SBF is a villain and a con artist LOL.

https://www.youtube.com/watch?v=H5-AEGz2PJ0

People with a lot of money and seemingly limitless, of course, always have a goal for what the money is spent.
Although they squandered it, they still have investment.
But we also don't know what's really going on.

People who have unlimited money like YouTuber Mr. Beast,
he spends money uniquely of sharing in unusual ways, and of course behind all that there are investments made to grow his wealth.

I think you may have missed my point. Of course I’ve seen rich people who have a lowlife. I even once saw a video about how simple Mark Zuckerberg lives his life and some other rich people too. There’s that, but in this context, we’re talking about someone who is BARELY SURVIVING. For someone to be barely surviving, the person is struggling to maintain balance. Unless Natsuu meant it another way, I do not think that a rich person who is living a low life is barely surviving.