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Author Topic: Do people actually buy coins with real life money?  (Read 3237 times)
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November 15, 2017, 07:15:05 PM
 #21

Now when BC is sky high and ETH also pretty high. DO people even give their real money for those currencies. I mean give 300$ for 1ETH or 6000$ for 1BC is too much for most people.
I mean how often do people buy crypto currency like ETH and BC
my answer is yes for what i know about for my source some are taking the risk of it the real money that they have for are buying some coin for them to have a profit it is hard at first but when you see that your money are making double than for the first time you take this you buy that coin it makes you feel better. But before doing that they take a deep study on it.

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November 15, 2017, 07:15:57 PM
 #22

Well of course people do.

1. You do not have to buy one whole bitcoin you could buy 0.1 or smaller amount
2. In 10 years time, if btc is successful, it will be traded in satoshis, not BTC!
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November 15, 2017, 07:21:04 PM
 #23

Actually I know many people who are buying bitcoins even the price is very high. Some have even put their life savings into bitcoin because they are convinced that in short time they can earn big sum. With increased number of users and high price many people who don't know much about cryptocurrencies entered the bitcoin community and some of them are ready to invest huge amount of money without even knowing the market. But not all of them at the end will make the profit.

I don`t know many people who are buying bitcoins, but I know couple. There wouldn`t be so many atm-s around the world if people don`t buy bitcoins, and there will be more probably. In capitol city this year they installed new atm, there is two now, and I hear stories that they plan to install one more.
There are many traders they buy and sell bitcoins all the time, if anyone count them. Many of them will not make profit that is truth, but the one who buy bitcoins and just save them will probably.

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November 15, 2017, 08:00:04 PM
 #24

That's actually very great information, I thought people are mostly trading without actually buying them, but I see why they want to buy and invest
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November 15, 2017, 09:17:28 PM
 #25

If you think FIAT money is real life money then you are in for a big surprise. Paper money is literally worthless and the USD has devalued 97% since it came out in the 1920s. It is also now not even backed by anything and the Federal Reserve, a private organization, has the power to print money at will and loan it out to the banks at 0% interest. Only the too big to fail banks of course.


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November 15, 2017, 09:24:00 PM
 #26

Now when BC is sky high and ETH also pretty high. DO people even give their real money for those currencies. I mean give 300$ for 1ETH or 6000$ for 1BC is too much for most people.
I mean how often do people buy crypto currency like ETH and BC

Of course they do. How else could the markets maintain these prices? Early adopters are undoubtedly cashing out some of their profits. That means there are bids on the order books (and demand for bitcoins and other cryptocurrencies in the OTC markets) to absorb the selling pressure and keep pushing the price higher.

Consider this story: Big money is coming to bitcoin: ex-Fortress executive Novogratz

Quote
During the latest pullback over the weekend though, Novogratz said he bought $15 million to $20 million worth of bitcoins.

Mike Novogratz is a legendary hedge fund manager. He sees the prices of BTC and ETH going much higher, per the article:

Quote
"When it’s that easy, the price of bitcoin or ethereum is going to go much higher. And that is a lot closer than people think," said Novogratz, who spoke at the Reuters Global 2018 Investment Outlook Summit in New York.
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November 15, 2017, 09:30:31 PM
 #27

If you have a look into Korean exchanges you can see that their volume of 1 million or more Dollars is based on fiat currencies that means yes, people are buying the coins with their paper money.
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November 15, 2017, 09:39:52 PM
 #28

I have never bought coins with real life money. I am still an amateur and still do not have that amount of money yet. To be precise, I want to be financially stable first so I can start buying bitcoin. (I will be into that cryptocurrency for a long time, then perhaps I will change it).

Added to that, people who buy other currencies instead of bitcoin believe that one day that currency will rise up and then they will gain profit.


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November 15, 2017, 10:46:31 PM
 #29

If you have a look into Korean exchanges you can see that their volume of 1 million or more Dollars is based on fiat currencies that means yes, people are buying the coins with their paper money.

One thing to note about some of the Korean exchanges is that they may have zero-fee trading. Bithumb is the largest Korean exchange and doesn't charge commissions on order book trades. What that means is that there can be an incredible amount of "churn" in the volume. High volume is changing hands, but most of the volume only comes from one or two entities. In some cases, one entity is actually self-trading (buying/selling its own orders) to manipulate volume, as this is an indicator commonly used by traders.

I stick to Bitstamp and Bitfinex when I want to see BTC/fiat volume.
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November 15, 2017, 11:17:42 PM
 #30

One thing to note about some of the Korean exchanges is that they may have zero-fee trading. Bithumb is the largest Korean exchange and doesn't charge commissions on order book trades. What that means is that there can be an incredible amount of "churn" in the volume. High volume is changing hands, but most of the volume only comes from one or two entities. In some cases, one entity is actually self-trading (buying/selling its own orders) to manipulate volume, as this is an indicator commonly used by traders.

I stick to Bitstamp and Bitfinex when I want to see BTC/fiat volume.

I too ignore exchanges with zero fee trading. However, Bithumb does charge trading fees. They charge a flat 0.15% maker and taker fee. You could potentially do some "zero fee" trading, but that would require you to buy coupons, which then obviously means that you still have to pay for trades. Bitstamp has always been my exchange of choice when it comes to the latest exchange rates, volumes, etc. Bitfinex is something I as much as possible try to ignore after everything that happened, and that even while knowing that they are the leading USD exchange again.
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November 15, 2017, 11:18:23 PM
 #31

If you have a look into Korean exchanges you can see that their volume of 1 million or more Dollars is based on fiat currencies that means yes, people are buying the coins with their paper money.
This is true, we can see in an exchanges that people really buying coins with real money because of bitcoin that prices rise high. I have known a friend that into buying of bitcoin that invests to have a greater return of profit.

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November 15, 2017, 11:29:03 PM
 #32

Now when BC is sky high and ETH also pretty high. DO people even give their real money for those currencies. I mean give 300$ for 1ETH or 6000$ for 1BC is too much for most people.
I mean how often do people buy crypto currency like ETH and BC
It is depends on their own decision making in trading world their are many people today especially tradings turning there funds into crypto currency. They are so bold on turning it because they know that it will profit more.
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November 16, 2017, 12:13:42 AM
 #33

Now when BC is sky high and ETH also pretty high. DO people even give their real money for those currencies. I mean give 300$ for 1ETH or 6000$ for 1BC is too much for most people.
I mean how often do people buy crypto currency like ETH and BC
It is really expensive to buy bitcoin or eth with real money. But it's up for the person himself if we they want to buy through this way. For us who are not millionaire doesn't afford this so we're just earning our bitcoin in different ways. But for the millionaires it is easy for them to buy biitcoin or eth through this.

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November 16, 2017, 12:47:57 AM
 #34

Yes of  course they actually buy coins with their savings money in fact I know a lot of people buying coins with his last pay from his work because he wanted to invest in some coins.
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November 16, 2017, 12:53:46 AM
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Of course peopl that is into trading is buying cryptocurrency with their money, but it depends on the trader on how many or how much he/she will gonna buy it depends on their strategy in trading and sometimes they just only has that enough money that's why they can't buy a lot of coins, but either way it's always up to yourself if you're gonna have a big profit in trading just always have a plan and play your cards right then there will be no problem.

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November 16, 2017, 01:04:45 AM
 #36

as of now I can't  see the future of bitcoin cash in the market because have many speculation bitcoin cash replace the original bitcoin in the crypto world but for me all of them have an own identity to  increase th value into the market not bad to buy today more coins as investment, especially the btc and and eteheruem, bitcoin cash have a nice value in the marketcap but I'm not sure my security holding as investment in a long term are profitable.

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November 16, 2017, 01:19:19 AM
 #37

Yes, some people bought altcoins using their own money. Maybe that people has a good income to afford buying coins. But for me, there is a several way to buy.

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November 16, 2017, 01:36:30 AM
 #38

People convert fiat in to cryptos and vice versa very regularly, it is a huge industry and one that many companies are profiting hugely from, the prices you suggested are for whole coins, if needs be you can always by a part of a coin.

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November 16, 2017, 01:42:33 AM
 #39

Yes. I did it.
I bought coins using fiat.
I keep them now.
I am planning to buy more Smiley
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November 16, 2017, 01:54:14 AM
 #40

Now when BC is sky high and ETH also pretty high. DO people even give their real money for those currencies. I mean give 300$ for 1ETH or 6000$ for 1BC is too much for most people.
I mean how often do people buy crypto currency like ETH and BC

Yes, For people who want financial freedom spending $300 or $6000 is not an issue. The risk must be take or nothing will happen. I have an article that a family sold everything for bitcoin. They said that if it failed they will just back to square one.
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