Are you ready to spend crypto when market is down

[JavasetvenQ]

Currently, I have not and do not intend to do this as my daily living expenses are unrelated to my crypto investments. I have an outside main job and instead of selling crypto assets or spending it, I am still trying to accumulate more of my assets during this bear season with my salary. Your question is no different than you are asking if we are willing to sell crypto assets during bear season while everyone is trying to accumulate more crypto assets and waiting for a bull season to come.

At present, I have no application scenarios for using digital currency in my country, not at all. The purpose of using digital currency around me is also very simple, which is to buy low and sell high, and then turn it into legal currency. Now because the market is relatively sluggish, everyone seems to be away from the exchange in an instant, and they are all busy with their work. Everyone lives in reality.

[Fredomago]

In my opinion when the market is down like right know Im not going to spend it my crypto unless using if for daily purposes like withdrawing the crypto for a monthly bill. the best time when the market is down is to accumulate more coin and token stake it and enjoy when the bullish month coming.

If you have enough spare money, it's better to save your money into crypto, which you believe that will bounce back when the market start to pump. There are many factors that may affect the market and it will be depend on how investors and traders will think about the potential and possibilities of how the market will behave in the next few months or years.

Though it's also possible that those who are good in making a short-term trade are capable to make some good amount and spend it with their personal needs, but surely it's not that many who can really make good position when the market is down.

Most are afraid and really not willing to take the risk of spending their money, or some may choose to wait and hold.

[Smartprofit]

Hello Everyone,

I am not speaking about just Bitcoin. I am speaking about every cryptocurrency / token.  Regardless of crypto price fluctuations, many online and offline stores are ready to accept crypto as payment. So How will willing are you to spend crypto for your purchases?

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

In my opinion, fiat money is currently a less valuable asset than cryptocurrencies and gold.  Because cryptocurrencies and gold have great potential for their price growth in the Future. 

However, I sell my cryptocurrency when I need cash.  I sell cryptocurrencies, realizing that its prices will rise strongly in the future.  There are many interesting and important things in life. 

Saving money and never spending it is not a good option.  Otherwise, you may not have time to enjoy life.

[ringgo96]

If we have enough capital then investing in some crypto is the right choice, and when the price drops there are very many good coins that we can invest in so all the good coins we will definitely spend according to the target we have set, but not all coins we have to buy and we must be able to make good use of our capital so that later we can get a big profit, And during bear season we should be able to maintain the assets we have and never panic even though we are experiencing heavy losses because all the coins will definitely increase again when it is time.

[isaac_clarke22]

In my opinion when the market is down like right know Im not going to spend it my crypto unless using if for daily purposes like withdrawing the crypto for a monthly bill. the best time when the market is down is to accumulate more coin and token stake it and enjoy when the bullish month coming.

Well if you have a monthly bill waiting for you around the corner, there's no reason to hold that money for crypto though obviously. I had seen worse decision by people trying to play blind and loaning instead just to get their hands into crypto then later regretting it when bearish market arrives.

If you have any other priorities related to your needs, I don't see any bad reason to using your money on that first. Not sure why people just don't get their priorities right.

[Falconer]

In my opinion when the market is down like right know Im not going to spend it my crypto unless using if for daily purposes like withdrawing the crypto for a monthly bill. the best time when the market is down is to accumulate more coin and token stake it and enjoy when the bullish month coming.

Bitcoin has high price volatility, the best option when the price drops is to hold it as much as possible and it is better if you can accumulate it by placing more investment in it. There is good hope about its future and you may regret it if you sell it today.

By the way you can still refrain from selling your bitcoins during a downturn in case you still have savings or perhaps sell your other investment assets like gold or something or or a myriad of used plastic if you've been saving it. I prefer to hold bitcoin over selling them during a downturn and I tend to look for logically better options to sell.

[Inwestour]

Well if you have a monthly bill waiting for you around the corner, there's no reason to hold that money for crypto though obviously. I had seen worse decision by people trying to play blind and loaning instead just to get their hands into crypto then later regretting it when bearish market arrives.

If you have any other priorities related to your needs, I don't see any bad reason to using your money on that first. Not sure why people just don't get their priorities right.

An incorrect assessment of risks can lead to loss of money, so debt and investment should be separated for your own safety. As for spending cryptocurrency in a bear market, I don't think it's a good idea. It doesn’t matter if it’s bitcoin or altcoins, if you bought them for investment, then selling them when the market falls will lead to a potential loss of profit.

There may be different situations, if you have to sell in order to close some kind of debt, then this is acceptable, but I have said more than once that before you start investing, you should resolve all issues with the roads, and only after that start investing. Some unforeseen situations may occur, but for this there must be a cash reserve. You can almost always be prepared for many situations that can protect you from selling your bitcoins in a falling market.

[Iroh]

In my opinion when the market is down like right know Im not going to spend it my crypto unless using if for daily purposes like withdrawing the crypto for a monthly bill. the best time when the market is down is to accumulate more coin and token stake it and enjoy when the bullish month coming.

A market downturn is the best time to accumulate more cryptocurrency than to spend it faster, let alone sell at a low price. Be patient and wait for the market to recover and start reaping the really big rewards from it.

When there is a downtrend in the price of bitcoin or any alt coin, that is the best time to buy more. But an individual could only buy more bitcoin when there is extra income available. For someone that has a single source of income, it would be extremely difficult to be patient and to wait for the market to recover and bounce back to reap any reward from it.
When an individual has an extra source of income, only then could you comfortably accumulate and hold your bitcoins when the market is down till when the market bounces back and rises. You wouldn’t have to convert your satoshi to fiat to pay for bills or anything of the sort.

[Jody.Drummer]

If we have enough capital then investing in some crypto is the right choice, and when the price drops there are very many good coins that we can invest in so all the good coins we will definitely spend according to the target we have set, but not all coins we have to buy and we must be able to make good use of our capital so that later we can get a big profit, And during bear season we should be able to maintain the assets we have and never panic even though we are experiencing heavy losses because all the coins will definitely increase again when it is time.

Of course there are many assets or tokens that we can invest in, but that doesn't mean that we choose which coin we will invest at will. Observation and analysis are important to see the potential of coins that will give us profit in the future. If we talk about a lot of capital, in my opinion, this is an advantage in itself, because we can divide it into several coins and also in large quantities. But it must be remembered, don't forget the bitcoins that we have to hold, because in my opinion bitcoin is the first asset that we must have before the other coins that are scattered around now. I think if we forget bitcoin in our portfolio it will be very detrimental.

[asawale]

Cryptocurrency is seen as an investment and not a currency for day to day business transactions. Even if cryptocurrency will be spendable like a normal fiat currencies, it will eith be the major cryptocurrencies like Bitcoin and Ethereum. Many of the other altcoins will never be useful beyond their DeFi ecosystem.

[el kaka22]

I am already spending a good amount every day on servers and other stuff, I mean rendering alone is taking about 8 bucks per day and that is fully paid in crypto as well thankfully. I wasn't planning on this to be fair, but why does it matter to me anyway because it could be money in the bank that I spend and keep my coins but if not then I will spend bitcoins and then money in the bank goes to binance and turned into bitcoin, the end result is the same, I am using the product and I am paying in crypto and I am making a profit from it as well.

Not a lot of people have this chance of course and that is why I hope that more and more places are willing to accept crypto payments to make it work.

[stomachgrowls]

I am already spending a good amount every day on servers and other stuff, I mean rendering alone is taking about 8 bucks per day and that is fully paid in crypto as well thankfully. I wasn't planning on this to be fair, but why does it matter to me anyway because it could be money in the bank that I spend and keep my coins but if not then I will spend bitcoins and then money in the bank goes to binance and turned into bitcoin, the end result is the same, I am using the product and I am paying in crypto and I am making a profit from it as well.

Not a lot of people have this chance of course and that is why I hope that more and more places are willing to accept crypto payments to make it work.

If you are spending your crypto actively but on those things which do generates income then you wont really be that too mindful on how much you do spending overall and its true that there's no differences on saving it

up because we would be still ending up on making conversions in between fiat or crypto specially on the time that we are in need thats why it isnt really that a bothersome nor an issue if you do
spend up a some part of your crypto holdings on something we do see for it to be relevant specially when we do make out some money on that particular thing.
Doesnt matter if the market is really having that bearish moment or not.

[ginsan]

Hello Everyone,

I am not speaking about just Bitcoin. I am speaking about every cryptocurrency / token.  Regardless of crypto price fluctuations, many online and offline stores are ready to accept crypto as payment. So How will willing are you to spend crypto for your purchases?

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

hey dude, when btc and altcoin prices drop then you have the option to make payments with fiat. Do you think if someone who has assets in crypto would pay for a purchase he made with crypto, I don't think they would unless they were pressed for money by the economy.

I have never made payments via crypto because in my country there are no shops that accept payments via btc because I live in a rural area. However I would advise them to make payments in fiat when the market is down .

[nara1892]

In my opinion when the market is down like right know Im not going to spend it my crypto unless using if for daily purposes like withdrawing the crypto for a monthly bill. the best time when the market is down is to accumulate more coin and token stake it and enjoy when the bullish month coming.

As long as we are able to meet our daily needs I think there is no reason to spend the assets we have.
I think it's quite naive if we really use it in the current conditions even though it's possible that someone's needs are different but I personally always try to hold it in as long as I can handle it with my finances, I will never spend it.

[AmoreJaz]

In my opinion when the market is down like right know Im not going to spend it my crypto unless using if for daily purposes like withdrawing the crypto for a monthly bill. the best time when the market is down is to accumulate more coin and token stake it and enjoy when the bullish month coming.

As long as we are able to meet our daily needs I think there is no reason to spend the assets we have.
I think it's quite naive if we really use it in the current conditions even though it's possible that someone's needs are different but I personally always try to hold it in as long as I can handle it with my finances, I will never spend it.

as you said, everyone has their own needs. we can't blame someone for selling some of his coins to pay for his food. but of course, if you have other means, much better. but think of other people and their priorities in life. we all have different needs. so long you think you are spending it on valuable matters, that's fine. but if you are just buying a luxury item, think about it. is it worth spending your crypto just to buy what you want, and not what you need?

[mendace]

As long as we are able to meet our daily needs I think there is no reason to spend the assets we have.
I think it's quite naive if we really use it in the current conditions even though it's possible that someone's needs are different but I personally always try to hold it in as long as I can handle it with my finances, I will never spend it.

I think this is the real big problem, how can it become a real exchange currency if its owners hold it as if it were an asset? If you don't spend and move funds, it will inevitably take the place of any refuge property and this is not the right path.

[harapan]

Why should one in his)her right sense spend the crypto he or she has it is best one take the chance to get more bitcoin

It will never be a wise decision to do. Spend fiat and if you have enough fiat to buy more bitcoin you can still do that for your own sanity.
It's only those relying on a single job will want to sell that coin immediately in other to sell to get paper money

[AndySt]

I think this is the real big problem, how can it become a real exchange currency if its owners hold it as if it were an asset? If you don't spend and move funds, it will inevitably take the place of any refuge property and this is not the right path.

An even more real big problem is that cryptocurrencies are no longer worth as much as they were worth some time ago, and here a really paradoxical situation turns out. Those who do not believe in the future prospects of cryptocurrencies try not to keep them for a long time, and those who believe in further prospects keep this asset at home. And yes, people use cryptocurrencies according to how convenient it is to use them at this time. And at this time, cryptocurrencies are much more convenient to use as an asset, and not as currencies, because in this situation cryptocurrencies are by no means a competitor to traditional fiat currencies and I don't see any reason yet when normal states will give preference to some other people's cryptocurrencies rather than their own banknotes.

[wmaurik]

Of course everyone are waiting for this moment when market price will be dump and all altcoins price also will be low and this is a great opportunity for everyone to choose best altcoins to invest and take profit in future.

If you want better profits in the future, try to choose Bitcoin as a long-term investment and don't look at too many altcoins which generally won't be much better than Bitcoin. Because some altcoins were created for the hype and it's not very good for the future. So try to choose Bitcoin and if you really like altcoins, try to see the altcoins that are in the top 10 but you don't need to choose all of them too if it is intended for long term investment.

[Xinarae*]

In my opinion altcoins are good with long term investment in bitcoin but you have to choose the right currency. Among the altcoins ethereum and bnb are the best long term investments. The future of these currencies is very bright if the market is down, this is a good opportunity to spend on crypto currencies. Try to invest in ethereum bnb currency in addition to bitcoin the value of these currencies will increase in the future.