Cryptocurrency vs. Fiat currency.

[Eugenar]

Cryptocurrency vs. Fiat currency, which of the two do you think better? There so many differences between those two kinds of currency, but what currency do you prefer more, what currency suits your wants and needs,

First things first, let us define the two currencies. Cryptocurrency is all the money we have online, it is decentralized and global, it can be bitcoin, etheruem, litecoin, XRP, and many others. which is a currency that is volatile, which means it changes its price day by day, there is no static price to all of it, so it is outstanding in investing and trading in cryptocurrency and patience is what you only need here. While Fiat currencies are those physical currencies that you can touch and use to buy in real life, such as Pesos, dollars, etc. those are what we called the central government, which has a fixed price at all.

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[bhabygrim]

If it is for daily use of course we would prefer Fiat over crypto,
But for holding or saving up I would prefer crypto over Fiat to take advantage of the high volatility and to gain more.
Even if crypto could be used for payment in any transaction people would prefer to use Fiat currency over crypto because of it's chance to increase it's price due to demand.
Most of us are eager to see it being accepted but doesn't want to use it even if they could because it is an investment tool for most of us.

[boyptc]

Fiat for daily use.

While bitcoin or cryptocurrency for investment.

It's the embraced use of cryptocurrency today but we have to spend it in the most possible way to enjoy it. I have used it to shop for many times but our society is not yet ready to go all-in with crypto.

[leea-1334]

If it is for daily use of course we would prefer Fiat over crypto,
But for holding or saving up I would prefer crypto over Fiat to take advantage of the high volatility and to gain more.
Even if crypto could be used for payment in any transaction people would prefer to use Fiat currency over crypto because of it's chance to increase it's price due to demand.
Most of us are eager to see it being accepted but doesn't want to use it even if they could because it is an investment tool for most of us.

Only because it is the one more readily accepted. If I could earn 100% in crypto and spend 100% in bitcoin,,, for sure I would switch over. People think, no hoard as much as possible but you know what? You spend more and more, use it more and more and it actually becomes more and more valuable!

Fiat is the other way around!

[Reatim]

Fiat for daily use.

absolutely mate,specially in places where Bitcoin is not yet really adopted and accepted by the government so we need to accumulate more for holding.

While bitcoin or cryptocurrency for investment.

until our country starts acknowledging and let people know the benefits and not pushing this as risky kind of investing.

It's the embraced use of cryptocurrency today but we have to spend it in the most possible way to enjoy it. I have used it to shop for many times but our society is not yet ready to go all-in with crypto.

same here mate,mostly we can use this for online shopping ,i only have use Bitcoin as payment in a cafe once when accidentally found a establishment that accepts Bitcoin.

[Youghoor]

I prefer to use cryptocurrency more than fiat because is faster, safer and with the recent spread of the deadly coronavirus you can be rest assured that the use of fiat currencies has several disadvantages. I can't use cryptocurrencies that much for any transaction because it's barely used in my country but i believe in the near future cryptocurrencies would take over the payment system.

[boyptc]

Fiat for daily use.

absolutely mate,specially in places where Bitcoin is not yet really adopted and accepted by the government so we need to accumulate more for holding.

Let's accept that truth, fiat is still needed in our daily lives.

While bitcoin or cryptocurrency for investment.

until our country starts acknowledging and let people know the benefits and not pushing this as risky kind of investing.

Our country, the businesses, the merchants then individuals will follow if there's also a confirmation from these entities.

It's the embraced use of cryptocurrency today but we have to spend it in the most possible way to enjoy it. I have used it to shop for many times but our society is not yet ready to go all-in with crypto.

same here mate,mostly we can use this for online shopping ,i only have use Bitcoin as payment in a cafe once when accidentally found a establishment that accepts Bitcoin.

You are lucky to spend it for a cafe while me, most of the time I use it to shop online. I hope that one day we can use it directly with our favorite shopping malls.

[denzkilim]

I prefer to use cryptocurrency more than fiat because is faster, safer and with the recent spread of the deadly coronavirus you can be rest assured that the use of fiat currencies has several disadvantages. I can't use cryptocurrencies that much for any transaction because it's barely used in my country but i believe in the near future cryptocurrencies would take over the payment system.

Nah, both Crypto Currency and Paper money have their own advantages and disadvantages on one another and both are good to use in their own ways.
In my country, Bitcoin and other forms of crypto are barely used also but the government does not prohibit its citizens to use Crypto Currencies as long as
they know what they are doing.

[Jating]

I prefer to use cryptocurrency more than fiat because is faster, safer and with the recent spread of the deadly coronavirus you can be rest assured that the use of fiat currencies has several disadvantages. I can't use cryptocurrencies that much for any transaction because it's barely used in my country but i believe in the near future cryptocurrencies would take over the payment system.

Nah, both Crypto Currency and Paper money have their own advantages and disadvantages on one another and both are good to use in their own ways.
In my country, Bitcoin and other forms of crypto are barely used also but the government does not prohibit its citizens to use Crypto Currencies as long as
they know what they are doing.

This one, both of them have its own strength and weaknesses.

Currently, we want to save more BTC in our wallets as an investment scheme. But for our daily lives people are still using it specially in third world countries wherein paperless transaction is not yet implemented by their government. So we just need to take the best of both worlds, take advantage of them. As far as the argument saying that banks will disappear because of crypto, I have doubts about that one.

[Gladiator25]

If it is for daily use of course we would prefer Fiat over crypto,
But for holding or saving up I would prefer crypto over Fiat to take advantage of the high volatility and to gain more.
Even if crypto could be used for payment in any transaction people would prefer to use Fiat currency over crypto because of it's chance to increase it's price due to demand.
Most of us are eager to see it being accepted but doesn't want to use it even if they could because it is an investment tool for most of us.

Other people who are really into cryptocurrency also use it for their daily use. And yes, most of them uses crypto for saving and holding. There are countries that uses cryptocurrency to buy goods and services. Since, there are also country that don't use crypto as a payment, they are oblige to convert their crypto to fiat money. Both crypto and fiat have their own strengths and weaknesses.

[Kemarit]

Cryptocurrency vs. Fiat currency, which of the two do you think better? There so many differences between those two kinds of currency, but what currency do you prefer more, what currency suits your wants and needs,

I have used both crypto and fiat system to pay my monthly bills, i.e. internet, water consumption, electricity and phone, of course it's not a direct p2p because there is still a middle man in-between. As far as preference, doesn't matter, as long as I can used them as tools for my every day life.

First things first, let us define the two currencies. Cryptocurrency is all the money we have online, it is decentralized and global, it can be bitcoin, etheruem, litecoin, XRP, and many others. which is a currency that is volatile, which means it changes its price day by day, there is no static price to all of it, so it is outstanding in investing and trading in cryptocurrency and patience is what you only need here. While Fiat currencies are those physical currencies that you can touch and use to buy in real life, such as Pesos, dollars, etc. those are what we called the central government, which has a fixed price at all.

You said investing and trading, then you can kept some cryptos in your wallet and just convert it to fiat if needed. There are Bitcoin maximalist though that would rather put everything in BTC. Nothing wrong with that, as I have said both of them can be a tool to make your life easier. So there should be no "versus" or against, it all depends on the person itself.

[kolonel_x]

Fiat for daily use.

While bitcoin or cryptocurrency for investment.

It's the embraced use of cryptocurrency today but we have to spend it in the most possible way to enjoy it. I have used it to shop for many times but our society is not yet ready to go all-in with crypto.

I am sure in the future there will be many stores that provide payment via crypto so that it will be easier for us to shop there.
Indeed, Fiat is used for a day in my area to do important things because if it is with crypto money, some people will not know it so the application is still not done.
Cryptocurrency is used by many people today for long-term investments and also trading in the short term on the stock exchange to reap huge profits.

[vipuljainism]

More than sure crypto is more like for long term invests

[Who is John Galt?]

First things first, let us define the two currencies. Cryptocurrency is all the money we have online, it is decentralized and global, it can be bitcoin, etheruem, litecoin, XRP, and many others. which is a currency that is volatile, which means it changes its price day by day, there is no static price to all of it, so it is outstanding in investing and trading in cryptocurrency and patience is what you only need here. While Fiat currencies are those physical currencies that you can touch and use to buy in real life, such as Pesos, dollars, etc. those are what we called the central government, which has a fixed price at all.

I'd say that you just don't fully understand the difference between cryptocurrencies and fiat currencies. The Venezuelan Bolivar has more volatility than many cryptocurrencies for instance, so the fiat currency is not necessarily stable. And over time, cryptocurrencies with the growth of decentralization will also be less volatile. The key difference is that decentralized cryptocurrencies allow you to control your money completely, and in the case of fiat currencies, you depend on banks and issuers.

[michellee]

For now, I use fiat for buying anything in real life and use crypto as the investment, although if I can make a profit in crypto trading, I will withdraw the coin to my fiat so that it can give me more money. In many countries, fiat still needed and fiat still used for buying our daily life, but we also know about digital payment from another third party, and that looks like digital money.

I don't use crypto to buy anything because here, I cannot find a local store that accepts crypto for the payment, so that is why I still use fiat to buy something or buy my daily needs.

[plvbob0070]

Fiat for daily use.

While bitcoin or cryptocurrency for investment.

It's the embraced use of cryptocurrency today but we have to spend it in the most possible way to enjoy it. I have used it to shop for many times but our society is not yet ready to go all-in with crypto.

Same with you, every day I use fiat especially if I going to buy some stuff in the store and even I have bitcoin or other cryptocurrencies still no one them will accept because they don't even know it. As of today, it's still rare to see a store that accepts cryptocurrency and but when it comes to big establishment some of them already accepted it. Then, sometimes if I need to buy game credits I use my bitcoin to buy it in online and I also use our fiat to buy it.

Don't always spend your cryptocurrency on buying some stuff and it's better to use our fiat currency unlike if you going to use bitcoin which you just wasting your opportunity to earn profit and we all know most of the cryptocurrency has big chances to become more valuable in the future that's why it's better to stick using fiat in different transactions.

[panganib999]

Fiat for daily use.

While bitcoin or cryptocurrency for investment.

It's the embraced use of cryptocurrency today but we have to spend it in the most possible way to enjoy it. I have used it to shop for many times but our society is not yet ready to go all-in with crypto.

It is like choosing whether pulling off your wallet to get some money or pulling out your phone cause you have something to scan and pay. Although I'm a huge fan of crypto, I would still choose the fiat since it is the one that we are using now and the complexity of using the crypto is not yet settled, there are still bugs and errors to be fixed. We are on the process of transitioning, sooner or later we'll be having it.

[LogitechMouse]

~

Depend on the usage.

If you will consider daily use and the number of people using and accepting it, I will choose fiat right now because it is the currency that is being used worldwide. Only a few people around the world are using cryptocurrency right now as a way of payment and most of them are either merchants of business owners.

Now in terms of investments and profits, cryptocurrency is more profitable than fiat (forex trading). We know what is the capability of crypto when it comes to profit and vice versa. It is the best performing currency within the past decade. Its volatility nature gives huge profits for the investor but at the same time, huge losses for newbies and some investors.

[20kevin20]

Fiat? Fuck it. Fiat isn't stable at all. Just because 1 USD you have today will be worth 1 USD tomorrow too doesn't mean it's stable. In fact, you can see how we lose purchasing power the more time passes.

If BTC would have been used as the national currency, you would've considered it as "stable" too. But you probably don't take into account the diversity of fiat currencies and the ratios between them changing on a daily basis.

Cryptocurrencies are decentralized, anti-inflationary.. all great & fun until we get into the intimacy subject. That's when things go dark. It's probably going to be a fun game for max 5 more years and then freedom will be just an idea, just a definition. I'll bookmark this reply with the hope of finding it again +5 years later to see if my words came true or not.

Paper money is better in terms of privacy/anonymity although it's not very transparent at all. There's no need for a public record of where I received my banknotes from and where I spend them. I can hand you $10k in paper and nobody would have to know where that came from. However, it's centralized so just fuck it. That's where fiat will never beat Bitcoin. You always know that your 1 satoshi is real, is only yours and will never be replicated by anyone ever.

[GreatArkansas]

You are in the forum of cryptocurrency and especially it is a Bitcoin forum. Expect to get more answers and favor on cryptocurrency and for sure it will be biased.
But I am just surprised for those telling that fiat for daily used?
Why not also cryptocurrency? Because of transaction fees? Well, it is. But there is lightning network already and other cryprocurrency with almost 0 transaction fees.