Turning crypto into fiat or is that even nessesary anymore!

[player514]

Most efficient and cost effective way of exchanging BTC to fiat is using your local exchanges for many reasons, of-course make sure they are trusted before you use them.

The issue is that local exchanges can be potential scams. I'd say dealing with someone very trusted here who accepts escrow is better than dealing with a local exchanger. Overall, exchanged just boil down to what you're comfortable with though.

[madwica]

It is not nessesary but this is one i love to do for trading, bitcoin to fiat even it has a huge gap on buy and sell i can make good profit on that situation just good timing is our key on this method.
I think for now lots of people do this because lots of altcoin now was continuous decreasing its value and its hard to predict when is the best time to buy and sell altcoin and most of them are turning to scam.

[Tungsten-1]

Most efficient and cost effective way of exchanging BTC to fiat is using your local exchanges for many reasons, of-course make sure they are trusted before you use them.

The issue is that local exchanges can be potential scams. I'd say dealing with someone very trusted here who accepts escrow is better than dealing with a local exchanger. Overall, exchanged just boil down to what you're comfortable with though.

There is no doubt in this thing that there are so many scammers sitting in the local exchange market but this doesn’t mean that you stop converting your crypto into fiat or vice versa. You need to find some good trading exchange like that of Bittrex trading exchange. You’ll hardly find any insecurity while performing any transaction over there.

[777Bitcoin]

When the country your living in has slow adaptation to bitcoin business and acceptance exchanging cryptocurrency into fiat is rampant and most of them are this who don’t do long term investments. It it clear now that to rage fiat out of individual system of living is for the government to legalized it and for the businesses to add it on they’re options.

[syaripudin]

I have some bitcoin crypto in my wallet account and then when I need money to meet my daily needs of course I will trade some bitcoin crypto I have with paper money. then I will transfer to my account number and of course half bitcoin I have will keep me for a long term investment. I think the money I have to pay for fiat transfers that I have my account number is not too expensive so I am quite happy to do this.

[reflector]

Most efficient and cost effective way of exchanging BTC to fiat is using your local exchanges for many reasons, of-course make sure they are trusted before you use them.

The issue is that local exchanges can be potential scams. I'd say dealing with someone very trusted here who accepts escrow is better than dealing with a local exchanger. Overall, exchanged just boil down to what you're comfortable with though.

There is no doubt in this thing that there are so many scammers sitting in the local exchange market but this doesn’t mean that you stop converting your crypto into fiat or vice versa. You need to find some good trading exchange like that of Bittrex trading exchange. You’ll hardly find any insecurity while performing any transaction over there.

So why are you going in that there are many online exchanges which fits for us to start trading. I do trade my bitcoins with the localbitcoins.com only from the day I get into the bitcoin.
Now recent days their deposit fees only bothers me because it is additionally wasted my bitcoins I have in my online wallet or desktop wallet. I wish it to reduced because most trusted platform to sell our coins.

[Rana590]

Just like earlier pointed out already, I exchange my bitcoins for fiat currency on localbitcoins.
I usually wish to sell whenever I need some cash to spend in the real world, since Bitcoin is not a accepted as a means of payment in my country.
But at anytime, I make sure that I still have some bitcoins left in my wallet.

I think most of people do this. Bitcoin is not fiat currency and it is not acceptable for all necessary work on any country. For this reason, people have to depend on fiat currency and they exchange bitcoin on their native currency. But it is the wisest decision to save some Bitcoin on own wallet.

[Almat]

It's necessary because very few vendors accept Bitcoin. I would spend Bitcoins on necessities if I could, but only if I don't have cash.

[carlfebz2]

Most efficient and cost effective way of exchanging BTC to fiat is using your local exchanges for many reasons, of-course make sure they are trusted before you use them.

The issue is that local exchanges can be potential scams. I'd say dealing with someone very trusted here who accepts escrow is better than dealing with a local exchanger. Overall, exchanged just boil down to what you're comfortable with though.

There is no doubt in this thing that there are so many scammers sitting in the local exchange market but this doesn’t mean that you stop converting your crypto into fiat or vice versa. You need to find some good trading exchange like that of Bittrex trading exchange. You’ll hardly find any insecurity while performing any transaction over there.

Always go for those sites which are reputable and been known regarding on legitimacy on their service when it comes on exchanging your bitcoin to fiat itself but there are really some limitations which a certain individual would find out exchange would really be hard for them specially if the option on exchanging isn't available for them but well there are lots of alternative ways which you can eventually select and as being suggested just really be careful on to whom you are dealing with.

[Mpamaegbu]

Converting cryptos to fiat before spending it is non-negotiable for those if us in Africa. We really can't spend them except we exchange them for paper money either online on in person. The crypto idea hasn't really caught up here like it is in Europe and Asia. So, I would say yes, conversion is necessary.

[Rana590]

Right now converting to fiat is a must requirement, because with bitcoin we haven't got that acceptance in all markets same as that we use traditional currency. So, till such an situation exists we are supposed to convert and use it. Partly the direct acceptance from several companies have been getting increased.

Absolutely right. Bitcoin is not fiat money and we can't buy and use money through bitcoin. In order to do our own work fiat money is necessary. Then we need to exchange our bitcoin on our fiat currency which is accepted by everywhere.

[Crypto Capital]

If you are going to be converting crypto to fiat on a regular basis it just makes no sense to do anything but sell it yourself. It takes some time to build up reputation on the p2p sites like paxful or localbitcoins.com but if you are earning a steady stream of crypto's it's worth the investment as you'll be getting 5%-15% above the spot rate when you sell it yourself.

[mmmmyah]

There is a crypto debit card available but it's subject to KYC as usual... but since it's backed by VISA .. essentially you can use it anywhere that accepts a VISA card ... that makes FIAT even less necessary except when you load the card... the day will come when everything will be priced in BTC

[SirLancelot]

When the country your living in has slow adaptation to bitcoin business and acceptance exchanging cryptocurrency into fiat is rampant and most of them are this who don’t do long term investments. It it clear now that to rage fiat out of individual system of living is for the government to legalized it and for the businesses to add it on they’re options.

In my opinion, there is no point of converting bitcoin into fiat. It is because of the reason that bitcoin is something more profitable and beneficial from profit point of view as compared to that of fiat. Even if there are less number of investors who are investing in bitcoin, you should hold your bitcoin as it is bitcoin which is going to give you more profit. Converting into fiat unless necessary is of no use.

[@prashant]

It has become irrelevant to convert btc or altcoin to fiat unless you are need of it.now major potential altcoin also has become major investment asset that you can rely on get profit out of them.btc will increase day by day as more and more investor pop in so just hold it or do some trading to increase the quantity.

[Burks]

Converting cryptos to fiat before spending it is non-negotiable for those if us in Africa. We really can't spend them except we exchange them for paper money either online on in person. The crypto idea hasn't really caught up here like it is in Europe and Asia. So, I would say yes, conversion is necessary.

Yeah you are right we can't say bitcoin is accepted everywhere so we have to convert it into fiat currency.But when everyone started to use cryptos there will be no need for conversion maybe that will happen in 2025.In today's situation the conversion is important to buy or pay anyone.

[liuqi]

It has become irrelevant to convert btc or altcoin to fiat unless you are need of it.now major potential altcoin also has become major investment asset that you can rely on get profit out of them.btc will increase day by day as more and more investor pop in so just hold it or do some trading to increase the quantity.

If you the person earning bitcoin or altcoins is whale, he does not need to sell out the coins all the time but if you are from the middle class family to console your needs you will sell the coins all the time.
Since price increasing every day due to the effect of future hard fork you can hold the bitcoin till November 25, then you can sell out for future.

[nl247]

When the country your living in has slow adaptation to bitcoin business and acceptance exchanging cryptocurrency into fiat is rampant and most of them are this who don’t do long term investments. It it clear now that to rage fiat out of individual system of living is for the government to legalized it and for the businesses to add it on they’re options.

In my opinion, there is no point of converting bitcoin into fiat. It is because of the reason that bitcoin is something more profitable and beneficial from profit point of view as compared to that of fiat. Even if there are less number of investors who are investing in bitcoin, you should hold your bitcoin as it is bitcoin which is going to give you more profit. Converting into fiat unless necessary is of no use.

Sure, there is no point since most people after all are earning or purchasing to keep for long term. However, we cannot exempt some freelancers who has moved into the space of cryptocurrency and their basic earnings and gigs revolves around that, in cases like this, withdrawal to fiat is necessary except it they do not have any responsible to shoulder anyway. But for someone with responsibilities, it is just like earning normal salary and saving some percentage up for the future.

[supercanada1]

It's necessary because very few vendors accept Bitcoin. I would spend Bitcoins on necessities if I could, but only if I don't have cash.

Not now but the bitcoin is being the part of the bitcoin and the value of eh bitcoins is increasing more and more. The bitcoin is being accept by all kind of the people and it is increasing the value of the bitcoin, buy the bitcoin and then hold the bitcoin for the long time, the money is having the huge circle and it is the best thing to buy more and more thing that the simple things we use to buy through the money.

[GoodLuck2]

It's necessary because very few vendors accept Bitcoin. I would spend Bitcoins on necessities if I could, but only if I don't have cash.

You are right in this regard bitcoin have earned fame and game but it doesn’t up to that mark of being prevailed all over the world. Even if you consider only that countries that have made some amazing things regarding bitcoin, they don’t have that much access and acceptance for it. So better is to have converted in fiat, it mostly benefits you.