Are you ready to spend crypto when market is down

[blockman]

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 is a strategy or someone's way to regulate the rhythm of their financial investments, where they have their own time for when to start and end their trading positions. they always wait for the best moment to buy when the price drops and release when there is an increase in the price of each coin they hold.

Crypto is both and it will depend on how you look at it but let's look at the fact that all of us treat it as an investment. No matter how an advocate you are of wanting people to spend their crypto for purchases. You can't stop anybody by telling them that it should be spent. The value of it is volatility and because of that, stopping them won't help and instead, they'll do the opposite of buying more because we go back to what the first reason is, crypto is now majority's investment vehicle and that's what we treat it like.

[Jatiluhung]

Indeed, more and more shops are now accepting payments with Crypto. even i have tried it several times. and I only use Stablecoin for that payment (BUSD). because for Bitcoin I think today is the day to collect it more. I'm even glad that some time ago my DCA for BTC purchase entries was met at 18k. and means increasing my investment in BTC. and I am not thinking of using BTC and other altcoins (other than stablecoins). to be used as a means of payment today. because I prefer to keep it as an investment asset and not as a means of payment.

[Cryptmuster]

Crypto is both and it will depend on how you look at it but let's look at the fact that all of us treat it as an investment. No matter how an advocate you are of wanting people to spend their crypto for purchases. You can't stop anybody by telling them that it should be spent. The value of it is volatility and because of that, stopping them won't help and instead, they'll do the opposite of buying more because we go back to what the first reason is, crypto is now majority's investment vehicle and that's what we treat it like.

Not everyone has the patience to wait for their investments to start making really good returns. In Bodo Schaefer's book The Path to Financial Independence, he tells of a case where a young man under his guidance learned to save and invest in order to eventually become financially independent, but at some point, he simply decided to buy himself a new Porsche with all his savings. The same goes for people who perceive cryptocurrency as an investment, not everyone has the patience to wait until their investment makes them rich, someone will spend it much faster and it doesn’t matter if it is fiat or crypto.

[Swordsoffreedom]

... To prevent this situation, ideally we must have savings money in the banks.

This is something I've been doing for a long time. If you consider bitcoin as a long term investment then you should always have a backup plan, I mean besides investment, we must have an extra savings so as not to affect our investment. Bitcoin or other investments for me are long term investments and I don't intend to spend it until I make a profit. Of course I would use them as well, but only in case my savings aren't enough or I can't get a loan should I consider using that investment, otherwise I will never use them until I hit the target.

[harizen]

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?

In my case, if there's really a need to spend my crypto, I won't hesitate to do it regardless of the price.

In the first place, it matters to me that I've used it on important things rather than just holding it. Again, if it's really necessary to do so.

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?

There's no doubt that crypto is mostly treated as an investment by the majority.

However, it's their own coins therefore we just have to let it that way on how they will spend their crypto regardless of the price.

[adzino]

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 think anyone would want to "spend" their crypto currencies when the market goes down or when they are at a loss. Spending those crypto currencies means they will be buying things at a "higher costs". So yeah, you are right. Most people don't consider crypto currencies as a regular currency. More like a store of value or security instrument.

Those stores are willing to accept crypto currencies regardless the value because they don't actually hold the coins. They use third party payment gateways. As soon as you send them the coin, those coins get converted to fiat currency and the merchant receives the payment in fiat currency. So they merchants are actually risking anything.

[FanEagle]

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.

That is also a very true approach to it for sure. I mean you should buy when it is low, but unfortunately there are too many people who sell during the bear market and that's a big mistake, but I agree that it is also a big mistake when people buy when it is high, and they do not realize that it's going to hurt them in the long run as well.

I personally do not sell when it is low, and buy it instead which is a great deal, but at the same time I end up with buying when it is high as well, I just like buying bitcoin at all times, I should stop buying when it is high, and just accumulate USD during that period and enter when it goes down.

[tam31]

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?

Because of the price volatility, many people are seeing crypto as an investment. Thus, it's not surprising if they chose not to spend their coins and wait until the price reach their target value to take profit. Some investors might be using their Bitcoin for purchasing regardless of the value but probably majority are not doing so.

Anyway this season is a time to accumulate, that being said it's not wise to spend if you believe the value can possibly increase if you continue to hold.

The problem is that, crypto is a currency, the full name is actually "crypto currency", which means that it would gain a lot more value if people earned it and spent it, just like how you do with regular fiat. But unfortunately, there are too many people that use it as stocks or gold, where it is an asset and they just invest and hold and do not ever spend it.

If you don't spend it then it won't gain any value, it will only be an investment and would be used as such and that is causing a lot of troubles for us. We need to turn this into a currency, and if we do that then we are going to end up with a good amount of profit in the long run for sure.

[tygeade]

As long as crypto is not yet globally accepted, most likely people will see bitcoin or crypto as a profitable investment than just a plain currency. Although spending it is one way of promoting crypto, but at the end of the day profits is more than important. That is why I chose not to spend my crypto particularly if the value is at loss, I will just wait for a good price to sell and spend crypto like a currency.

It is definitely understandable not to sell it if you want to make a profit from your investment. There are people who are running whole business' with the crypto world, meaning they earn bitcoin and spend bitcoin to keep it going, it makes sense for them to spend, but if you are just a regular person like you and me, then we should not be selling it because the ones we spend are gone and they are not coming back.

I am trying my hardest to save these days, but seems like it's not going to happen until new years, and when that happens, I am going to end up saving so much finally. It's a bad thing to say, but I really want it to stay at these levels for another year or so, so that I can save more money .

[Lainta]

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?

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.

[Outhue]

Good question from a newbie👍

I will only find it hard to spend crypto in a bear market if I bought the crypto e.g Bitcoin or Ethereum in a bull market, this is why I always tell my friends that Fiat and Crypto must co-exist, its pure balancing, for example

Assuming I bought 1 Bitcoin at 60,000$ it makes no sense to use the Bitcoin to make purchases online, now we are in a bear market, I can get 1 Bitcoin for 16k+ and use this to make purchases if I must, my mind will have the thoughts that I can still buy back at 16k+ since we are still in a bear market.

[SirLancelot]

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.

He didn't say about buying coins during the bear but he is asking if we are willing to spend our cryptos to buy something. For me yes. It's not new for me to spend my cryptos to buy items online and when I do this, I don't bother checking the price of the cryptos first. Maybe if I did that, I will think twice if I am going to continue with my purchase or not.

As long as people uses their crypto for buying something, then these people considers their crypto as a currency but I know there are people who do both where they also kept some of their cryptos for the future to be able to grow its value. I don't find it wrong. That was their money anyway. They are free to do what they want with it and this does not affect crypto in anyway. In fact, this makes them stronger and more valuable.

[Mauser]

Good question from a newbie👍

I will only find it hard to spend crypto in a bear market if I bought the crypto e.g Bitcoin or Ethereum in a bull market, this is why I always tell my friends that Fiat and Crypto must co-exist, its pure balancing, for example

Assuming I bought 1 Bitcoin at 60,000$ it makes no sense to use the Bitcoin to make purchases online, now we are in a bear market, I can get 1 Bitcoin for 16k+ and use this to make purchases if I must, my mind will have the thoughts that I can still buy back at 16k+ since we are still in a bear market.

I know this feeling well, my first few big purchases of Bitcoins are always in my mind when looking at the the current price and if I should spend any of my coins. But over the years I bought bitcoins at so many different prices that it's hard to keep track. Instead of buying one time per month, I prefer to make 2-3 smaller purchases every 2 weeks. Dollar cost average strategies are the best in my opinion, even though it's hard to track of the purchase prices. In general I think the same that we shouldn't be spending our coins during bear markets. It's better to hold out and wait for the next bull market to come.

[Cling18]

Good question from a newbie👍

I will only find it hard to spend crypto in a bear market if I bought the crypto e.g Bitcoin or Ethereum in a bull market, this is why I always tell my friends that Fiat and Crypto must co-exist, its pure balancing, for example

Assuming I bought 1 Bitcoin at 60,000$ it makes no sense to use the Bitcoin to make purchases online, now we are in a bear market, I can get 1 Bitcoin for 16k+ and use this to make purchases if I must, my mind will have the thoughts that I can still buy back at 16k+ since we are still in a bear market.

I know this feeling well, my first few big purchases of Bitcoins are always in my mind when looking at the the current price and if I should spend any of my coins. But over the years I bought bitcoins at so many different prices that it's hard to keep track. Instead of buying one time per month, I prefer to make 2-3 smaller purchases every 2 weeks. Dollar cost average strategies are the best in my opinion, even though it's hard to track of the purchase prices. In general I think the same that we shouldn't be spending our coins during bear markets. It's better to hold out and wait for the next bull market to come.

I used to spend my Bitcoin and Ethereum holdings before regardless of the bearish market situation without minding the opportunity of a good profit that I might earn when the market recovers. Later on, I have learned the importance of long-term holding and tried to keep my coins well. I learned that the bear market is an opportunity to buy and not to spend potential coins. It should be a good preparation for the market recovery.

[BigBos]

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's very difficult for me to spend my crypto because in my area it's still difficult to find shops that accept cryptocurrencies and even Bitcoin as a means of payment, therefore I don't mean not to take it out and use it as it functions.
But maybe I will accumulate it as an investment asset first, when someone in my area already accepts crypto as a means of payment I will also use it. And again, if I exchanged my crypto back for fiat to spend today, it would be stupid in my opinion.
I admit that currently I still make Crypto as an investment alternative, especially in bitcoin.

[tjtonmoy]

It is ultimately up to the individual to decide how they want to use their cryptocurrency. Some people may choose to hold onto their cryptocurrency as a long-term investment, while others may be more willing to spend it on purchases. There is no right or wrong answer, and the decision to spend or hold onto cryptocurrency will depend on a variety of factors such as an individual's financial goals, risk tolerance, and personal preferences.
Totally up to them.
For me, I will hold mine while spending a portion of it to cover up daily expenses if I ever need to.

[Fredomago]

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's very difficult for me to spend my crypto because in my area it's still difficult to find shops that accept cryptocurrencies and even Bitcoin as a means of payment, therefore I don't mean not to take it out and use it as it functions.
But maybe I will accumulate it as an investment asset first, when someone in my area already accepts crypto as a means of payment I will also use it. And again, if I exchanged my crypto back for fiat to spend today, it would be stupid in my opinion.
I admit that currently I still make Crypto as an investment alternative, especially in bitcoin.

If that's the case, better to keep your assets and add more instead of trying to find outlets that will accept crypto. The current market is down and you won't gain any compensation if you will use your crypto now. It's a good time to accumulate and if you believe that crypto, especially bitcoin, will bounce back, then you will earn a decent amount of money while waiting for the market to rise back. Bitcoin already did it before and can continue doing it. After the downfall, expect a good recovery.

[BRINIRHA]

It is ultimately up to the individual to decide how they want to use their cryptocurrency. Some people may choose to hold onto their cryptocurrency as a long-term investment, while others may be more willing to spend it on purchases. There is no right or wrong answer, and the decision to spend or hold onto cryptocurrency will depend on a variety of factors such as an individual's financial goals, risk tolerance, and personal preferences.
Totally up to them.
For me, I will hold mine while spending a portion of it to cover up daily expenses if I ever need to.

you are right and I also think that in a bearish market like today, more people will save their crypto assets for long-term investments. because after all the current market is very suitable for accumulation for investment
long term until the bullrun comes.

But lately I often use stablecoins to pay bills and top up internet on my cellphone. because I use Binance and dibinance in the MarketPlace feature there are many options to use shopping with crypto assets.

[dansus021]

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.

[valeneu]

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.