Are you ready to spend crypto when market is down

[traderethereum]

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 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.

Right, it is a mistake if we sell when the market is down like now, most of the mistakes we make are buying when the market rising because of the market thinking will rise and sell when the market is down because of panic and afraid of continuing correction, if we already know cryptocurrencies At least a year then we know about trends like this.

At least, that's what most people who panic at the sight of the price for one or more coins start to climb.
They were amazed to see it and thought they could participate and buy at that time, so they started buying the coins instantaneously and waited for the price to keep rising.
But it won't always be what they want because some coins won't be able to increase again and instead drop drastically again.
And that's what makes them lose.

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.

But if they already have potential coins, they don't have to try to buy other coins by selling some of those potential coins before they research whether the coin is worth buying or leaving it alone.
It's better to always go by the rules, buy when you fall and sell when you go up, so we can profit and anticipate losses.
But if people have an urgent need and want to sell the coin when the price drops, that's up to them because I think they've thought about it.

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[Mauser]

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?

Isn't it always a form of investment when you hold different currencies and decide which one to use for your purchases. Before crypto currencies my investments where either in Euros or US dollar, there wasn't much to choose from when making bigger purchases. Now I hold quite a few different coins and all of them are currencies in my eyes. And it is a normal thought process to decide which currency makes the most sense to sell right now. All smaller purchases I am doing in Euros, because that is where most of my income is coming in. For larger purchases like the next vacation I would choose right now US Dollars, both Euro and cryptos are low at the moment and I want to hold them until the market recovers.

[Pujangga]

As investors sometimes we have to think and move fast, it's better to lose a small amount than lose all the money, sometimes the red market happens for too long, and if we keep holding on then we will lose more, and I prefer to cut loss and try something new.

[Marykeller]

Whatever the need may be, I would prefer to hold to my crypto assets than sell them off when the market is down. This is why it is good to have a side job that pays in case of this kind situation arises than spending your crypto when the market is down. I see investment as a long-term investment goal, not a short-term investment I won't make profits in the long run.

[AicecreaME]

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?

If you don't spend your cryptocurrency in a market situation like this, it is fine, it is still cryptocurrency, I didn't know that not spending it would define cryptocurrency as not a cryptocurrency. Not spending it in a bear market means you have the right knowledge about financial management. I don't see any benefit at all spending it in times like this, so why.

Other people has no other choice maybe but to spend it because they don't have any fiat anymore to buy their needs, and there's nothing wrong with that. However, having 2 or more source of income would be better for you not to spend your valuable cryptocurrency in times like this.

[Reatim]

as long as it is available to use then why not? but the problem here is that the availability is limited , Our place has only small chance of spending or accepting crypto so how can we have this option.

As investors sometimes we have to think and move fast, it's better to lose a small amount than lose all the money, sometimes the red market happens for too long, and if we keep holding on then we will lose more, and I prefer to cut loss and try something new.

If it's still not too late, it's better to cut the loss with a small amount of loss. But for those who are late in doing so, it is clear that they will be forced to hold on and wait for the recovery to occur again in the market, even though it could last a long time. But as long as you haven't sold and still keep the asset as usual, it's still possible to get back the money you've lost through recovery.

spend if you badly needed , but as long as you are in capable of holding then best to keep it and just hold on the funds and let time tells you the profit.

[Russlenat]

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 face it. Bitcoin or any cryptocurrency at the present is still mostly valued as an investment and less as a currency, maybe because the government itself fails to recognize the high potentials of bitcoin or any cryptocurrency to become a global currency. Also, no one will dare to spend his crypto in exchange for a lower value where in fact he bought it at a higher value before. Spending crypto to promote faster global adoption is good, but for me it should come in case to case basis, like in unforeseen emergencies wherein you have no available fiat on hand and the hospital is willing to accept crypto for payment so you have no choice but to make instant payment with crypto regardless of how high or low its value.

[iv4n]

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.

I guess all of us feel that way, nobody like to spend crypto, but people get into some crazy life situations, and simply selling some crypto can be a life safer, of course, if you have what to sell! So it's not about whether are we ready to spend crypto when the market is down, I believe if we get in some situation without many options we will make a decision and we will do what we have to do, simply as that! I know some people have that deeper emotional connection with crypto, nothing extraordinary, people get emotionally connected with all sorts of things around them, but when things get hot it's just an asset that can help you, it would be foolish not to use it.

[fullhdpixel]

Even on bull market, I don’t want to spend my crypto because I already consider this as investment and I know in the future this can be more expensive. Cryptocurrency is not just meant as a currency anymore, it became a store of value and we cannot blame many for this doing because they can really earn more instead of spending it. The trauma of buying pizza with Bitcoin before might be one of the reason why many rarely spend their crypto for this kind of purposes.

But when you spend your money on the things that you truly love, you will feel amazing and you won't ever regret it. There are people who got trauma when they heard that legendary btc pizza but they don't realize that if the guy didn't do that, btc won't' be as popular as today. Btc started as a currency so people must give credits to this. They need to use their btc somethings in order to honor it. For me I've been using my crypto no matter what is the conditions in the market.

I use it for paying my bills and then selling prepaid services such as internet data's, call credits, and game credits. Unfortunately, there are no stores yet which accepts crypto in my place but if ever they discovered it soon I will be happy to use my crypto instead of cash and other payment methods that they support.

[BIT-BENDER]

Since you aren't speaking about just Bitcoin the the question itself has lost value and taste. I was enthusiastic to give my emphatic reply until and read the body of your post saying not only bitcoin, you should know this isn't a question.
To start with, it's hard spending coins that aren't Bitcoin especially unrecognized Altcoins and it becomes even worse spending them in the dip because the to have value and very little want that as purchasing power for their goods or services.

So I would answer in accordance to what I do, and yes I am not only ready but happy to spend Bitcoin this period because I don't just see bitcoin as a short run, long run investment, I am also ready to accept it as well for payment for my services too.

[Fivestar4everMVP]

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?

Well, this is a tricky one I must say, as it is currently, I can tell you that most people buying cryptocurrencies currently are doing so for the sole purpose of profiting, I personally can not deny this fact.

So with all sincerely, I prefer spending fiat over spending crypto for purchases or payment for goods and services, crypto for me is an investment instrument, maybe in the future, this might change but this is what it is currently.
Maybe when cryptocurrencies become more stable in their prices, that time, profiting from it takes a very long time, maybe then, we all can really begin to use it as a medium of exchange of goods and services.

[Davidvictorson]

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?

Cryptocurrency and bitcoin in particular means different things for different people. For some it is a form of security. For example recently due to the devaluation of my country's currency most of the citizens began to turn to bitcoin to save their financial assests from going down. Furthermore we have the folks who see it as a tool for investment. This is the category I fall into - especially short-term. I do spend bitcoin irrespective of what is going on in the market. It is need based spending for me.

[nakamura12]

Not all want to spend their crypro when market is down and I am also sure that many people would also be happy enough to buy all the crypto that you spend when the market is down. We want something to earn profit but there are some cases that you are forced to sell your crypto either it's because there is some emergency that you needed money to pay and other situations but we all know that we can have our crypto back by buying to start again.

[Xxmodded]

Have spent on several altcoin and almost 30% spent in Bitcoin trough market down, all in my portfolio investing right now and waiting when pump to sell, almost one months invested all my money keep holding because not interested to sell with little price up only. Keep patience waiting for Bitcoin can reach higher price, maybe if still lower next week I will sell half my portfolio assets and try to re investing with another lower price. Long term investment about one or two months still not worth in this year after market down and not recovery faster, most slowly for bitcoin up before back going dump.

[lalabotax]

Not all want to spend their crypro when market is down and I am also sure that many people would also be happy enough to buy all the crypto that you spend when the market is down.

You are right most people prefer to buy more coins during the bearish market. They mostly spend coins or sell coins in the bullish market. But I think spending a small number of crypto coins is okay, it isn't a big matter. We should be proud to support crypto adoption as a payment tool for online stores. We don't only think about our investment, we also need to think how our contribution to support the development of crypto coins. Since we expect crypto can be digital currencies that we can use globally, it should be not a problem to spend our crypto coins in online or offline stores.

[BRINIRHA]

for now I'm more comfortable shopping with fiat. because crypto for now I prefer to be an investment asset. for fiat I prefer not to hold it for a long time and I have to use it for shopping as soon as I withdraw it from the ATM. but if there are shops that accept crypto payments. of course i would give it a try if it was a shop close to my house.

[CageMabok]

for now I'm more comfortable shopping with fiat. because crypto for now I prefer to be an investment asset. for fiat I prefer not to hold it for a long time and I have to use it for shopping as soon as I withdraw it from the ATM. but if there are shops that accept crypto payments. of course i would give it a try if it was a shop close to my house.

In the city where I live there are no shops that accept crypto as payment even though many people know about crypto and Bitcoin. So I also still rely on fiat to shop for the necessities of life that I need. For cryptos and Bitcoins that I currently have, I still take very good care of them because market conditions still do not allow to sell crypto or make trades in the market.

[Hamphser]

Unlike the market situation I used to cashout bitcoin and use it for my needs. I do this once after missing opportunity to sell at the peak in the past. Later on, if there is a need I'll sell bitcoin and other cryptocurrencies and make use of it. Even in this bear market I've cashed out little limiting my needs.

There are really times which you cant really avoid which you would really be needing to cash out and make conversion just because you do really need to have money.
Spending up crypto is something where people do hesitate on doing so because we do know the potential of it whenever the market do make out some recovery or bullish run.
It does really vary on someones goal and perspective towards their crypto assets or holdings.We do have different actions on our investments
and different perspective and views and making out decisions which you do seem that it would really bring out benefits.

[Wawa2013]

Not all want to spend their crypro when market is down and I am also sure that many people would also be happy enough to buy all the crypto that you spend when the market is down.

You are right most people prefer to buy more coins during the bearish market. They mostly spend coins or sell coins in the bullish market. But I think spending a small number of crypto coins is okay, it isn't a big matter. We should be proud to support crypto adoption as a payment tool for online stores. We don't only think about our investment, we also need to think how our contribution to support the development of crypto coins. Since we expect crypto can be digital currencies that we can use globally, it should be not a problem to spend our crypto coins in online or offline stores.

Indeed, ideally we buy as much crypto as possible during a bear market and sell it during a bull market. But sometimes everyone's economic
situation is different, sometimes when the bear market I have an urgent need and I am forced to sell the crypto I have,  because my fiat savings
run out. Unexpected things like that are bound to happen to some people, so it's fine in my opinion spending crypto on something important.

Regarding your suggestion to use crypto for payments it may only be possible in countries where it is legal for crypto to be used for payments.
Meanwhile, based on my knowledge, most countries only legalize crypto as a digital asset. So if we want to spend crypto, we have to exchange
crypto for fiat on exchanges. But I believe in the future when crypto is very popular and used by the majority of people in the world, slowly
many countries will legalize crypto entirely. So we can spend crypto to buy something or pay bills without having to fear breaking the law.

[Smack That Ace]

for now I'm more comfortable shopping with fiat. because crypto for now I prefer to be an investment asset. for fiat I prefer not to hold it for a long time and I have to use it for shopping as soon as I withdraw it from the ATM. but if there are shops that accept crypto payments. of course i would give it a try if it was a shop close to my house.

In the city where I live there are no shops that accept crypto as payment even though many people know about crypto and Bitcoin. So I also still rely on fiat to shop for the necessities of life that I need. For cryptos and Bitcoins that I currently have, I still take very good care of them because market conditions still do not allow to sell crypto or make trades in the market.

In my opinion, fiat is still more convenient for shopping for daily necessities. My cryptocurrencies are intended for investment and not for spending, so I never intended to use them for spending, especially during this bear season, things are going downhill, spending will cost us and I think that's a bad idea.

I think investments and expenditures should not be related, if you don't know how to allocate them properly you will be in trouble. Besides, I'm trying to work every day and always deduct part of my salary at the end of the month to accumulate more crypto, so I never really thought about spending it in crypto.