Turning crypto into fiat or is that even nessesary anymore!

[Ewinsane]

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.

Turning of the bitcoin into paper money is necessary thing right now if you want to buy different sort of things or you want to meet any kind of expenditures. Till the time this bitcoin will not be accepted as legal currency by almost all the world, we’ll have to convert our bitcoin into paper money first.

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.

[blckhawk]

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 have the same thought, bitcoin is still not fully accepted world wide so that we still must convert our bitcoin into fiat in order to spend it. Yeah there are some online and offline store that accept bitcoin as payment but ony few. Though in some country like Japan, you were able to use it but it will takes a lot of time for a world to accept it and use it in any kind of transaction.

[ricardobs]

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 have the same thought, bitcoin is still not fully accepted world wide so that we still must convert our bitcoin into fiat in order to spend it. Yeah there are some online and offline store that accept bitcoin as payment but ony few. Though in some country like Japan, you were able to use it but it will takes a lot of time for a world to accept it and use it in any kind of transaction.

It’s always necessary to turn your Bitcoin into fiat once you might have accomplished your target. If you’re thinking that you can just live a life with only Bitcoin, you must be making a huge mistake. You can have both bitcoin and fiat, cause fiat is always necessary for your daily living while Bitcoin is just for you to make Investment and few other things.

[lienfaye]

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.

Thats true, if the country you are in legalize bitcoin or merchants are accepting bitcoin then theres no need to convert bitcoin to fiat but if you cant spend it in stores you have no choice but to do it to be able to use btc for your needs.

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.

[shield132]

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.

Thats true, if the country you are in legalize bitcoin or merchants are accepting bitcoin then theres no need to convert bitcoin to fiat but if you cant spend it in stores you have no choice but to do it to be able to use btc for your needs.

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.

If you can to use bitcoin as you wish, doesn't that means that it's legal and you won't get headache for using it?
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.

[GregH37]

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.

Today it is possible to sustain itself only with the crypt by setting off the fiat of its portifolio. I researched and saw that some companies already provide credit / debit card (Xapo, BitPlastic for example) based on the BTC ie you could simply pay your bills or make a purchase of the month for example through the credit / debit card. Of course this would limit your life a lot, because it is not all the places that give you the option to buy through the card.

[RealPhotoshoper]

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 have the same thought, bitcoin is still not fully accepted world wide so that we still must convert our bitcoin into fiat in order to spend it. Yeah there are some online and offline store that accept bitcoin as payment but ony few. Though in some country like Japan, you were able to use it but it will takes a lot of time for a world to accept it and use it in any kind of transaction.

yeaa it should become a consideration , we cannot spend our bitcoin to get lunch , dinner etc
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.

[pisston]

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 have the same thought, bitcoin is still not fully accepted world wide so that we still must convert our bitcoin into fiat in order to spend it. Yeah there are some online and offline store that accept bitcoin as payment but ony few. Though in some country like Japan, you were able to use it but it will takes a lot of time for a world to accept it and use it in any kind of transaction.

yeaa it should become a consideration , we cannot spend our bitcoin to get lunch , dinner etc
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.

so I always say that bitcoin this currency only for a certain range of people. in the first place there is no infrastructure for use bitcoin as payment tools, and the second it will be rarely, because most of the human will not be able to use bitcoin.

[AldenGreen]

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

[Kevin77]

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.

[bitgolden]

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.

[wvasko]

In any case, the money should be stored in different places and in different currencies. Part should be in crypto, some in the Fiat.

[atileture]

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

[KaliLinux]

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.
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

[FirEaSeA]

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.

[hispout]

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 have the same thought, bitcoin is still not fully accepted world wide so that we still must convert our bitcoin into fiat in order to spend it. Yeah there are some online and offline store that accept bitcoin as payment but ony few. Though in some country like Japan, you were able to use it but it will takes a lot of time for a world to accept it and use it in any kind of transaction.

yeaa it should become a consideration , we cannot spend our bitcoin to get lunch , dinner etc
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.

Exactly, the only thing we want to have in our lives by investing in bitcoin is that we want to lead a luxurious life and we want to meet the needs of our family. If we will not turn our crypto coins into paper money, we cannot make the best use of those coins. We do need to convert them into paper money first as we cannot use it till today. However, we should try not to waste our bitcoins by spending at useless places.

[dhas]

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.

[Qartersa]

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.

[nidacoinlove]

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.

I personally like to pay bills with fiat. I still feel sorry for the 10K bitcoin pizza guy so, I don't want to be the next one.  I feel fiat a convenient way than to pay through cryptocurrency and wait for the confirmation of the transaction. I see cryptocurrency as a tool of investment to grow the volume of fiat. Also there are some major problems with bitcoin that keeps it out from the list of preferred currencies for micro payments. If I was financially strong enough to pay without selling bitcoin I would never sell my bitcoin but currently the situation don't allow me to do so.

[Yanisumin]

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.
 

This problem is for all crypto users and because you have asked about this I think this is purely based on what country you're are in (because we can't have the pure idea be applied in the big picture because as we can see, all nations and areas have a specific rules about cryptocurrencies) and yes we are too young to have the easiest way to solve the problem in the exchanges of fiat to crypto currencies and vice versa. Factors to be considered regarding this is the;
location, what country and what is your country's jurisdiction regarding cryptocurrencies, internet connectivity and what platforms are there in that country to sustain the exchanges of fiat to crypto.

I think the most effective in this one is when we convince our own government to support the exchanges of cryptocurrency which will unlikely to happen anytime but I'm hoping that we will reach that point. ALL in in CRYPTO.