Turning crypto into fiat or is that even nessesary anymore!

[Godric-Gryffindor]

From now even though Crypto in on the moves right now we still run by fiat and the world's economy still coping from these change however as the year's comes by we will no need to worry changing bitcoin into fiat as many land service now accept Bitcoin and alternative o bitcoin cryptocurrency's.

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[krisnt80]

Well you can do a lot things online, but currently you cant buy a car or a house into the most places, even with some people already doing thise business is quite limited, and very and few people dealing this ways, you can always exchange low ammount to fiat without pay a tax, but if you have a big ammount you will loose a fee to the country, thats why they are forcing exchanges to expose bitcoin traders, if those happen it will be the end of such exchanges.

[sparveenat]

Due to the un acceptance of bitcoin directly for the purchase of most of the thing only force us to take the u turn into fiat this is going to be rectified I believe when globally crptocurrency create the revolution in the financial sector every small thing will be disappeared and lot new thing will be added to make bitcoin users life easy and comfortable.

[yanlap]

From now even though Crypto in on the moves right now we still run by fiat and the world's economy still coping from these change however as the year's comes by we will no need to worry changing bitcoin into fiat as many land service now accept Bitcoin and alternative o bitcoin cryptocurrency's.

It all depends on the needs of the person. If you are having some kind of urgency or you really need paper money, then it is not a bad idea to make the best possible use of your bitcoins and convert them into paper money. In normal days, once you are not having any kind of emergency, the best practice which you can observe is to remain calm and keep on holding your bitcoins for more time.

[Hamphser]

From now even though Crypto in on the moves right now we still run by fiat and the world's economy still coping from these change however as the year's comes by we will no need to worry changing bitcoin into fiat as many land service now accept Bitcoin and alternative o bitcoin cryptocurrency's.

It all depends on the needs of the person. If you are having some kind of urgency or you really need paper money, then it is not a bad idea to make the best possible use of your bitcoins and convert them into paper money. In normal days, once you are not having any kind of emergency, the best practice which you can observe is to remain calm and keep on holding your bitcoins for more time.

This is true which turns out to be on case to case basis since not all people are similar when it comes on situations on life where there are instances where we do really need money and we are out of cash either we don't have still salary yet or don't have too much savings which do lack on the money you do currently need and as being said its not really bad to get some of your coins and convert it to fiat since this is also good for having a back up fund and at the same time it do gain interest as you keep it.

[ModaFuka1994]

For now and maybe in the near future I think we still need to do that cause Bitcoin isn't legalized in any country yet so when we want to use our Bitcoin to purchase or buy anything in offline place we still need exchange it into fiat cause there are only few offline places that accept Bitcoin for payment. But I think the number of online place accept Bitcoin is better and it's increasing very quickly day by day.

[serjent05]

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.

[Kevin77]

Well you can do a lot things online, but currently you cant buy a car or a house into the most places, even with some people already doing thise business is quite limited, and very and few people dealing this ways, you can always exchange low ammount to fiat without pay a tax, but if you have a big ammount you will loose a fee to the country, thats why they are forcing exchanges to expose bitcoin traders, if those happen it will be the end of such exchanges.

What would exchanges want to expose bitcoin traders? The thing is as long as you can place the source of your money, you have nothing to be worried about and the reason why most exchanges are KYC compliant is so they can stick to the regulations and policies of the government to track down any evil doer.

If you are a business man and you receive your funds in bitcoin and decide to cash out via exchange, which will hold you and even if an alert is sent to the law enforcement agencies, you can prove your income.

[Vikingr]

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.

You actually do need money for meeting all your expenditures but the thing is you can use your regular currency which you have other than bitcoin for that purpose. Turning of bitcoin into paper money is not that much necessary and we all need to avoid this option for as long period of time as we can. This will eventually result in our profit and we’ll be able to have more money by turning our bitcoins into fiat then.

[lenovo16]

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 important in which you will fimd more convenient. Just like in me , I usually use bitcoin in paying some bill and buying load. And I'll do it all online. So I dont even need to go to the shop and directly pay my bills i'll just use my bitcoin.  While in the other hand if I have an expenses that i need cash, there you go we need to exchange our currency into fiat.

[Freshmen]

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.
 

In 10 or 15 years, maybe crypto exchange in fiat or fiat in crypto may be ruled out. Recently there have been several news from countries creating their own virtual currency, that is, this is going to be the reality, then the trend and that in future each country will own its altcoin, then those who negotiate or live on exchanges will no longer need to rely on fraudulent exchanges to swap your fiat in alt or vice versa.

When countries adopt currencies they can be sure that the level of acceptance will grow absurdly, several trading establishments have begun to accept this new model of payment.

[BlackBoxRecords]

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.
 

In 10 or 15 years, maybe crypto exchange in fiat or fiat in crypto may be ruled out. Recently there have been several news from countries creating their own virtual currency, that is, this is going to be the reality, then the trend and that in future each country will own its altcoin, then those who negotiate or live on exchanges will no longer need to rely on fraudulent exchanges to swap your fiat in alt or vice versa.

When countries adopt currencies they can be sure that the level of acceptance will grow absurdly, several trading establishments have begun to accept this new model of payment.

The distributed ledger technology is in itself quite independant from a central authority. That is why I like it, the government cannot print more for political reasons and, if I choose to, won´t have any idea of what I have.

[upsidedown75]

The decision on converting bitcoin to fiat or some other form is purely depends upon the growth as well the necessity. At present the price of bitcoin is growing with fluctuations that are to provide forward push at some time interval. Upon this, it's good to keep hold of the bitcoin without moving it elsewhere.

yes The most important thing which results in changing of crypto into paper money is having the need of paper money for any sort of reason. If you are going to convert your bitcoins into paper money and that too without having any reason, then there are chances that you might regret in the future by the decision which you made. So, you need to be very much careful while making this decision as things once done can’t be reversed.

Apparently, paper currencies are still needed and I agree with you that without any reason there is no point changing into fiat for now since we meant to be the HODLers.

Although, some of us still have to spend since we make so much in the crypto world being a freelancer than in the real world and it really makes no sense trying to be greedy to leave all of your savings into crypto. For now, cryptos cannot be spent, so basically, converting to fiat is still very much necessary.

[aencarnaci]

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.

Yeah, a lot of people except for holders of course.

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.

[yndye]

It is still necessary for me to convert crypto to fiat because there are expenses that cannot be paid directly with bitcoin such as groceries. The supermarket does not accept bitcoin yet and if ever they would, I would not use bitcoin for now because confirmation will take some time and the fee is high which is not practical when purchasing small value items. From time to time, I convert my earnings in here to fiat using our local exchange platform that is license by the central bank so I can directly send my money to my bank account which is pretty convenient.

[Sophia29]

For now we still ruled by fiat or paper bills from everyday life we use it but all things will change as more and more markets both online and offline will accept bitcoin, it is still necessary to change bitcoin to fiat from time to time as a bitcoin trader

[BlackBoxRecords]

The decision on converting bitcoin to fiat or some other form is purely depends upon the growth as well the necessity. At present the price of bitcoin is growing with fluctuations that are to provide forward push at some time interval. Upon this, it's good to keep hold of the bitcoin without moving it elsewhere.

yes The most important thing which results in changing of crypto into paper money is having the need of paper money for any sort of reason. If you are going to convert your bitcoins into paper money and that too without having any reason, then there are chances that you might regret in the future by the decision which you made. So, you need to be very much careful while making this decision as things once done can’t be reversed.

Apparently, paper currencies are still needed and I agree with you that without any reason there is no point changing into fiat for now since we meant to be the HODLers.

Although, some of us still have to spend since we make so much in the crypto world being a freelancer than in the real world and it really makes no sense trying to be greedy to leave all of your savings into crypto. For now, cryptos cannot be spent, so basically, converting to fiat is still very much necessary.

I think the HOLD concept is now giving way to the USE concept. Curiously, the more a coin is used, the more value it has.

[TheGreatPython]

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.

[doomloop]

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.

Yeah, a lot of people except for holders of course.

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.

You do need to convert your bitcoin into fiat. It is because of the fact that you do need to have paper money in order to survive in this world. Moreover, meeting your daily expenditures can only be possible of you do have money. At the time of ease, when you do have enough money that you can meet your expenditures, do not go for converting your bitcoins into fiat then. Instead of this, hold your bitcoins for more profit.

[Sasuke102001]

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.