Are you ready to spend crypto when market is down

[fiulpro]

For me personally :
I am not at all ready to spend cryptocurrencies when the market is down, it's a valid exchange for sure, but at the same time I cannot think about the fact that I brought it at a much much higher price and now am exchanging it at a very lower price as well, this definitely makes you loose loads of money, especially in the long run, it's better to keep them as investments during times like these.

But if you brought it at a reasonable price and now you are willing to exchange it for goods, I do think 💬 it's perfect time for you since your net profit will still be positive, thus it's not 🚫 a rule made in stone 🪨.

Calculate your net profits
If you can use it as a currency 💲- do it !
If you cannot use it as a currency 💲 🚫 - use it as a future investment.

[The Sceptical Chymist]

It's no secret that the price of Bitcoin is speculative and many use it as an investment. The value has multiplied thousands of times over, in the course of it's history, so, some would naturally expect it to increase further and as such hold on to it.

Exactly, and I'd say at least 90% of people on the forum treat bitcoin as an investment and not as a form of currency that they actually use, even if they believe it's a form of money.  That's why there's so many threads dealing with bitcoin's price and general stuff about the crypto markets.  It isn't because people see a loss of buying power if bitcoin's price falls so much as a devaluation of an asset.

There are indeed a lot of merchants that accept bitcoin nowadays, but I really wonder how many of their customers pay for things with it.  I'd be willing to venture that it isn't many.

[lovesmayfamilis]

Yes, I spend bitcoins when I need them. I do not consider bitcoin exclusively as an investment tool; for me, it is the same money as fiat. Some things on the Internet are also sold for bitcoins, so I see no barriers to paying with them. I don’t understand the fanaticism of some who call for using Bitcoin only for holding, and I’m probably a fatalist because I like to live in the here and now and not wait for a wonderful future that may not happen in our time. You have to take everything out of life.

[Wapfika]

Yes, I spend bitcoins when I need them. I do not consider bitcoin exclusively as an investment tool; for me, it is the same money as fiat. Some things on the Internet are also sold for bitcoins, so I see no barriers to paying with them. I don’t understand the fanaticism of some who call for using Bitcoin only for holding, and I’m probably a fatalist because I like to live in the here and now and not wait for a wonderful future that may not happen in our time. You have to take everything out of life.

I spend my altcoins during this bear season but not BTC. I mostly cashout some some of my altcoins during this bear especially those who might not recover at all and have no action at this time in their project. I already learned my lesson before after ICO hype when suddenly many altcoins becomes scam or loses value. That’s why as much as they have value I spend altcoins for trading or even to buy some stuffs online.

[Fortify]

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?

It really depends on how you are acquiring Bitcoin and what you wish to buy on whether it makes sense to spend it. If you're getting paid in Bitcoin, you could potentially save a little bit in fees by buying something directly from your wallet rather than going through an extra step of converting it back to fiat. If you're buying it with fiat specifically to get items then it seems kind of wasteful unless there is a specific reason to add the extra step, maybe your country has problems with payment systems and this might be the only way to get around it. Alternatively the object you want to buy might only be sold with a Bitcoin price, forcing you to use that payment method.

[Punakawan]

The market is down and I think the best thing is to be patient, it's better to use it for staking even though you get a small apy but this is better while waiting for the rising market again. I am always optimistic that the market is immediately rising again so that I do not hesitate to continue to buy and hold.

[inthelongrun]

I am willing to spend BTC and other crypto assets as well because I believe they are currencies to be utilized. But because they are highly speculative, they will become my last resort especially BTC, ETH, and BNB.

I am currently not in a favorable economic situation and I have used nearly all of my fiat and USDT savings as well. I am now seriously planning to make a raffle of which financial assets to be used next; stocks, crypto (except BTC, ETH, and BNB), and foreign currencies.

[Ziskinberg]

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?

Could be a plan but the problem is that it was hard to find local stores that accept Bitcoin in my place hindering me from using it. I wanted to experience doing this but maybe it was not the time. I was looking forward to seeing local stores in my place (or at least near to me) will accept crypto but until there is none, I may consider this just solely for investment purposes.

Well, instead of getting into that thing, I'd rather take the opportunity to buy more.

[suzanne5223]

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?

Could be a plan but the problem is that it was hard to find local stores that accept Bitcoin in my place hindering me from using it. I wanted to experience doing this but maybe it was not the time. I was looking forward to seeing local stores in my place (or at least near to me) will accept crypto but until there is none, I may consider this just solely for investment purposes.

Well, instead of getting into that thing, I'd rather take the opportunity to buy more.

There are many ways to spend crypto even if your local store is not accepting it, you can get yourself a crypto debit card or buy some gift card online which you can use to buy something from a local store that accepts gift cards.
It's good to solely use crypto for investment purposes but if we want crypto to achieve the purpose of Satoshi crypto must also be used as a means of payment.

[nara1892]

In this case there may be some people who will do something like that when they have a need but obviously spending Crypto when it's like this is clearly against my principles in Crypto and I actually do the opposite because until now I'm still trying to increase my portfolio as much as possible. what I can when something like this happens.
Regardless of anything, it's up to all parties, but maybe the advice is of course it's better to stay afloat even if you can't add loads when this moment happens, at least holding back would be more recommended.

[Issa56]

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?

How I wish I can make transaction with bitcon and cryptocurrency in general, but unfortunately I can't really do that for now, because I haven't seen any store that's accepting bitcoin or other altcoins for now in my country, the central bank of Nigeria governor ordered all bank's to block the accounts that have been linked to cryptocurrency transactions, so everyone is scared to accept bitcoin so that their business won't be compromised, but i know very soon things will change, election will be done in Nigeria by 2023, am sure after the election things will change because the current CBN governor will be leaving the position and am sure the next CBN governor will lift the ban and people will be able transact freely.

[odunybiz]

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?

This depend on how important what you are purchasing is. Sometimes one may be out of cash and you may have enough token, in such case one have no option than to buy with his/her token. I could remember I sold my matic some months ago when dip at 0.58 to secure my apartment.

[kryptqnick]

My approach has been relatively stable for years: when I can easily get by with the fiat I have, I don't sell me BTC. If the price is particularly good (in relation to how it's been lately), then I might sell some money in advance, knowing I'll need it. Otherwise, I try to use fiat and Bitcoin is basically for savings. If there's something expensive I'd like to buy but can't without BTC, I'd most likely sell as long as there's no prospect of swift recovery of the price (if it's bad). It seems that some others have similar strategies here as well, focusing on not spending unless they have to.

[Oasisman]

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?

Let's be honest, not so many people are willing to spend their precious crypto especially during bear season. Because, not only that you're paying more crypto equivalent to fiat price, but also people are actually accumulating more. Though, we all wanted to have a mass crypto adoption and one of the good reason for it to happen is when we start to practice using Bitcoin as a mean to pay for something, but many people considered Btc as a store of value instead.
Though I myself also love to spend my Btc to pay for something, but my city has little to no access of merchants and services that accepts crypto.

[KingsDen]

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?

I don't know of others, but I find it very difficult to spend bitcoin when the market is down. I'll rather adjust and manage myself or continue to use fiat than to sell bitcoin when the market is red.
But if there is some greens, I'll be cool to spend bitcoin until the market goes down again and  I'll try to buy more bitcoin at low.
If everyone should use bitcoin for daily payments or purchases, that is how it would likely be. Who knows if it will regulate the market

This depend on how important what you are purchasing is. Sometimes one may be out of cash and you may have enough token, in such case one have no option than to buy with his/her token. I could remember I sold my matic some months ago when dip at 0.58 to secure my apartment.

That is the real economics behind money. The demand and supply, the need and wants, the opportunity cost all applies. No one would be willing to sell out coins at dip, but when it's absolutely necessary we do it without recurse.

[Inwestour]

I don't understand why I should be willing to spend crypto when the price is decreasing.
Doesn't that mean I have to use more amount to pay or buy something?
I think it's a bad way to do it because when the market is going down, we should use it to buy and increase the number of coins we have so that when the market can reverse up, we will get more profits.
From that profit, we can use it to buy something or pay for something while we still have other money that we can use to buy more amounts.

Perhaps there are people who cannot always afford to buy everything they need without selling some of their coins. But if these are not urgent purchases, then of course it is worth waiting for the market to rise again. There is a rule that you need to buy on a fall and sell on an increase, this is a fundamental concept that must be observed.

[lalabotax]

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?

Do you mean pending crypto for payment?
Or spending crypto for trading?
So far, I am only using my crypto for trading and alsoinvetsment. As long as the crypto has potential exactly to rise up in the future with strong utility and chance, I prefer to make them as long term holding. Moroever, we know that all cryptocurrencies are falling down during this bearish market.
ready or not, we must be ready for all situations in the cyrpto business

[Viscore]

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?

It depends. Either it’s for investment or as a daily currency, no one would want to spend if the current value is also low, so I might wait for a more price increase so that I can also make a good purchase at a good value. Besides, there’s fiat anyway. The reason why we should never run out of fiat so that if we can’t spend our crypto, then we should always be ready to spend our fiat.

[Raflesia]

My approach has been relatively stable for years: when I can easily get by with the fiat I have, I don't sell me BTC. If the price is particularly good (in relation to how it's been lately), then I might sell some money in advance, knowing I'll need it. Otherwise, I try to use fiat and Bitcoin is basically for savings. If there's something expensive I'd like to buy but can't without BTC, I'd most likely sell as long as there's no prospect of swift recovery of the price (if it's bad). It seems that some others have similar strategies here as well, focusing on not spending unless they have to.

This is a good thing and indeed it is mostly done and I personally do this too.
As long as I still have Fiat and banknotes, I only use them for my daily needs and until now while the market is still volatile I haven't even made any sales with the portfolio I currently have and am only adding to it little by little.

[goldkingcoiner]

I would rather never spend crypto. Its just a huge disappointment to see your coins going down. Instead, why not hedge your coins against fiat and make more coins by trading? Never sell at a loss, never forget to buy at a bargain. Although depending on your individual trading strategy, you might find hodling to be the better of the two options. Either way, coins to me are more valuable then most unnecessary things. The only except is living costs and thats it, really. Apart from those spendings, there is absolutely no excuse whatsoever to throw away coin.