Turning crypto into fiat or is that even nessesary anymore!

[portotoi]

Almost traders have already stored crypto and are still eager to exchange from fiat to crypto because the crypto market is on peak now.
Yes right now,anyone would love to have cryptos in their wallets than to keep fiat as everyone is expecting more profits from crypto.
An efficient way to exchange between fiat and crypto currency i have found so far is localbitcoins.com

You are very much right. I think everyone will be willing to go for crypto instead of fiat. Crypto currencies and especially Bitcoin is giving a lot of profit to its investors and its market price is increasing with higher rate as well. So everyone will be thinking of getting maximum benefit from it.

Yeah you were right. I also agree to your statement and we all know that crypto currencies are more profitable as we are experiencing now. Its values are really amazing that fiat ever did.

[theedm09ka]

When you make large profit from cryptos, you should convert some of its profit back to fiat - just for risk management reasons and to reward yourself

For example: you bought 5 BTC at $1000 each. Now it's $14000/BTC. you already make $65000 profit hypothetically. Convert some BTCs (like 0.5 or 1 BTC or something) back to fiat so you can buy some nice things in real life. The rest you can keep in crypto. That's how I do it

[gandhe83]

When you make large profit from cryptos, you should convert some of its profit back to fiat - just for risk management reasons and to reward yourself

For example: you bought 5 BTC at $1000 each. Now it's $14000/BTC. you already make $65000 profit hypothetically. Convert some BTCs (like 0.5 or 1 BTC or something) back to fiat so you can buy some nice things in real life. The rest you can keep in crypto. That's how I do it

I think this is a good idea. After a period of success in the market, you should also reward yourself, it can be a trip with family and friends to relieve the pressure in this tight financial market. I still do so so that psychology is always comfortable when investing in a new project.

[Fainjusly60]

it is not necessary but turning bitcoin into other forum is better than trading using bitcoin only or just hold your btc.
Turning crypto into fiat not really needed if them prices was good and stable
people trun crypto to stable coin instead of fiat so they dont need to pay tax.
with more time bitcoin will use one coin is bitcoin

[voztata]

People who make use of bitcoin for regular day to day needs used to convert to fiat. No matter with the price variations. Somehow the amount is getting used by an user, whereas some users to spend on unnecessary needs. Those people can think of the growth and keeping as it is will gain a good profit as the price grows with some time interval.

I think it is not necessary and it is also not good because fiat is not convertible and bitcoin is like a real currency. You can use it for your daily needs. You can transfer it in any other currency digital or paper currency and the most valuable thing is that bitcoin is highly profitable cryptocurrency. If you change it or use it, you will wind up your so profitable business. In my eyes changing bitcoin in fiat is not necessary anymore.

I don’t know why some people makes boring comments, like seriously  how can you say that fiat is not convertible, while there are millions of people converting from Bitcoin to fiat everyday? It’s people like you that can mislead someone… I don’t know why someone would be thinking it is not necessary to convert their bitcoin to real currency.. and who told you that Bitcoin is a real currency? You know what? you should go and learn to talk as normal people do.

[nightways]

People who make use of bitcoin for regular day to day needs used to convert to fiat. No matter with the price variations. Somehow the amount is getting used by an user, whereas some users to spend on unnecessary needs. Those people can think of the growth and keeping as it is will gain a good profit as the price grows with some time interval.

I think it is not necessary and it is also not good because fiat is not convertible and bitcoin is like a real currency. You can use it for your daily needs. You can transfer it in any other currency digital or paper currency and the most valuable thing is that bitcoin is highly profitable cryptocurrency. If you change it or use it, you will wind up your so profitable business. In my eyes changing bitcoin in fiat is not necessary anymore.

Keeping the money in the form of fiat currency you will not have chance to earn any income from it and you will only lose the money but if you keep the wealth in the form of Bitcoin you are sure to have a high return value than you hold. Holding bitcoin is just like investing in it as the price of bitcoin will increase in coming years you can get a 2X or 3X profit from the holding. It is not necessary now to convert bitcoin in fiat.

[kateryana81]

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.

I realize that if someone needs fiat then he should convert some of his bitcoin into fiat otherwise it is not necessary because fiat is just a currency and you can use it easily for day to day necessities, while bitcoin is not only a currency but it is also a very profitable business.

You can earn a huge amount of money which you cannot do with fiat. I think that bitcoin is better than fiat therefore for me I will never convert my bitcoin into fiat currency.

At the very present moment, it is not at all possible for the ones who are having bitcoins in their wallets to buy different sort of things by paying the bill in form of bitcoin. The usage of bitcoin is not that much common so far and in order to meet our daily expenditures and buy different sort of things, we do need to go for converting our bitcoins and other crypto coins into paper money first.

[tailwate07]

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.

I realize that if someone needs fiat then he should convert some of his bitcoin into fiat otherwise it is not necessary because fiat is just a currency and you can use it easily for day to day necessities, while bitcoin is not only a currency but it is also a very profitable business.

You can earn a huge amount of money which you cannot do with fiat. I think that bitcoin is better than fiat therefore for me I will never convert my bitcoin into fiat currency.

At the very present moment, it is not at all possible for the ones who are having bitcoins in their wallets to buy different sort of things by paying the bill in form of bitcoin. The usage of bitcoin is not that much common so far and in order to meet our daily expenditures and buy different sort of things, we do need to go for converting our bitcoins and other crypto coins into paper money first.

Converting of bitcoin into paper money is no doubt important but only in the case when we need to have paper money or we have shortage of money. The thing is we should keep on trying not to convert our crypto coins into paper money especially at the time when there is no such need of that as the market rice of crypto coins is going up and up with every passing moment. Go for it only when there is no other option left.

[00DKM@]

it is not necessary  but turning bitcoin into other forum is better than trading using bitcoin only or just hold your btc.

Turning crypto into fiat not really needed

Depending on the timing and judgment of your market, decide whether to switch from bitcoin to fiat and vice versa. One of the most important investors is to make a profit from your investment, which is the decision you make because it's your asset, all advice is for reference only. Please consider carefully before deciding whether to sell or hold.

[1BTC EQUALS 1CAR]

It is. I would not want to pay $20 or more just for the fees included on the things that I want to buy. I still need to have fiat to avoid that ridiculous fees. I think that turning it into fiat won't be necessary if only btc fixed these fees and transaction time.

[Tapyaks72]

It is. I would not want to pay $20 or more just for the fees included on the things that I want to buy. I still need to have fiat to avoid that ridiculous fees. I think that turning it into fiat won't be necessary if only btc fixed these fees and transaction time.

It only happen when the crypto currency should be recognized in some establishment just like what happen to Japan but for the rest of the country of the world specially those country which government who are againts crypto currency.

[hastag_80]

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.
 

Turning crypto into fiat is necessary is still now because people use traditional currency  to fullfill for his daily needs everyday.being a ordinary people who wants to survive in  this crucial worlds,mostly we change our bitcoin or altcoins asset into fiat money to sustain our daily needs and wants in life,because digital currency is limited in inuse as a payment  of all transaction and mostly merchandizer,department store etc.would not recognize bitcoin as a payment transaction,thats why we need fiat to pay this all our debts or all our billing transaction.

[bitbunnny]

Until the Visa cancelled all Bitcoin debit cards in Europe these days I had no need at all to convert Bitcoin to fiat. I had my coins on the card and could pay with them whatever I want.
Now the situation has changed and it's not so easy the best way to convert Bitcoin to fiat on the most economic way.
I think that this should be the point of Bitcoin that you could easily use it for anything without converting it to fiat.

[Oasisman]

People who make use of bitcoin for regular day to day needs used to convert to fiat. No matter with the price variations. Somehow the amount is getting used by an user, whereas some users to spend on unnecessary needs. Those people can think of the growth and keeping as it is will gain a good profit as the price grows with some time interval.

I think it is not necessary and it is also not good because fiat is not convertible and bitcoin is like a real currency. You can use it for your daily needs. You can transfer it in any other currency digital or paper currency and the most valuable thing is that bitcoin is highly profitable cryptocurrency. If you change it or use it, you will wind up your so profitable business. In my eyes changing bitcoin in fiat is not necessary anymore.

Keeping the money in the form of fiat currency you will not have chance to earn any income from it and you will only lose the money but if you keep the wealth in the form of Bitcoin you are sure to have a high return value than you hold. Holding bitcoin is just like investing in it as the price of bitcoin will increase in coming years you can get a 2X or 3X profit from the holding. It is not necessary now to convert bitcoin in fiat.

Ofcourse if you just keep the fiat money without even thinking that you can somehow earn profit from it, you'll end up lossing it. I mean if youre really into making profits I assume first thing comes to your mind is open up business in the real world. Either Im not saying  that holding your Bitcoin forever isnt profitable, but lets just be realistic here. We can never ever replace fiat currency and the traditional banking system, because it is the most easiest way to access offline and online businesses and merchants, and right now we are dealing with Bitcoins slow transactions and high fees issue. Now, how can you say that converting Bitcoin into fiat isnt necessary anymore? Are you sure that all your necessities can be bought with Bitcoin, coz in my country I cant, although there are few who accepts.

[margauxlolo]

Until we can make large purchases such as any cars or houses with crypto, we'll need to convert to fiat for the time being.

I know that in some regions, making those purchases in BTC is feasible but that's not the case in most places yet.

[poor-yorik]

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

It doesn't look like we are now closer to what you hope for than we were 2 or 3 years ago. Steam has abandoned their support for Bitcoin, Microsoft is rumored to follow their lead soon. I've recently seen a chart posted here which shows that Bitcoin adoption by the corporate sector is actually declining over the last couple of years.

If anything, this doesn't look very promising.

[drachman]

When you make large profit from cryptos, you should convert some of its profit back to fiat - just for risk management reasons and to reward yourself

For example: you bought 5 BTC at $1000 each. Now it's $14000/BTC. you already make $65000 profit hypothetically. Convert some BTCs (like 0.5 or 1 BTC or something) back to fiat so you can buy some nice things in real life. The rest you can keep in crypto. That's how I do it

A good strategy is to withdraw your original investment that way if something happens you are not going to lose your investment and from that point on everything you get is going to be profits, that seems like a good option to me you basically get a chance to make money for free.

[HSRP]

Until we can make large purchases such as any cars or houses with crypto, we'll need to convert to fiat for the time being.

I know that in some regions, making those purchases in BTC is feasible but that's not the case in most places yet.

There are quite a few services and some major corporations around the world have accepted bitcoin in the deal. Some corporations also research and develop their own coin. Now that the market is recovering after a few days of declines, it is now a good time to buy more potential coin to prepare for the bull run in the next few days.

[Cindung]

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.
 

That ain't about the central vs decentralized but is actually about the fact of which the first is more convenient, if I get to convert my crypto foreign currencies into fiat directly with a good payment and done easily I would but what is more convenient for me? the most reliable and simplest method for now is to first convert them into Bitcoin and then into local currency not since there are no purchasers or companies accepting them but because the least difficult way is to just forget about finding the right people to use the cash directly without needing to exchange to fiat at all, thankfully Bitcoin is heading the right way where we always desired it, having the potential to only make use of it as the mainstream currency.

[Rooster101]

That time will eventually arrive but as of now, converting bitcoin into fiat is still use by majority of the crypto holders when they are going to encash their profits. The so-called cashless society when cash is no longer use will not be materialize until all required technologies are in place and the bitcoin adoption into the mainstreams is complete.