Is it good to convert all fiat to crypto?

[Mabelita 49]

I don’t think it’s a good idea, you need fiduciary money in your daily life, cryptocurrencies are still not as accepted as a means of daily payment and you couldn’t use them. Now if it is fiduciary money that you plan to save in the medium or long term, if you could convert it to bitcoin as it is likely to increase in value.

[Tetrisreal 219]

You still could not do that, since currently services and goods do not accept cryptocurrencies as a means of payment, but of course, the money that you are not going to use for your day to day if you could invest in cryptos.

[Mosab73 333]

Converting all fiat currencies into cryptocurrencies This is an unaccounted risk. Diversifying investment is the right decision to convert part of fiat currencies into cryptocurrencies and the rest for other investments. This step reduces the risk on your money.

[Mella 3680]

It is really good to do that in mine opinion. You should just sell everything too and only have a wallet and crypto. But this is only if you have nothing to care and you decide to live like that and visit places but you will have to need some place to sleep and clean your clothes, have food and more.

[Fixfin 2569]

If you had done that when you posted, now you will have at least doubled your money and this only in 10 months. Maybe earlier but perhaps you could also have frightened and sold when price was very lower like so low as in March and you as a beginner scared would have sold there.

[Shaheer16 908]

I don't think thats a good idea to convert all fiat currency to cryptocurrency. 

As fiat currency has physical existence and a physical value. And it is control by the governments. 

Where is case of cryptocurrencies no governments or organisations can control it. Nobody owns the control of cryptocurrencies. Its value changes every day. 

No doubt crypto is modern currency, but for now i think this is impossible to replace fiat currency with cryptocurrency. 

May be in future it is possible. 

[cryptovlek 2597]

On 12/17/2019 at 12:29 PM, Delgboke said:

I have been thinking what if I should convert all my fiat currency into digital currency/ cryptocurrency Is it adviseable to do that? Please what do you think. 

It depends how much you got friend. If you have $100 and nothing else and you need them to pay your bills or have something in case you need then it is not a good idea. But if you have in your bank money sitting and doing nothing then why not give cryptocurrrencies a shot?

[kryptonick 2659]

On 12/17/2019 at 12:29 PM, Delgboke said:

I have been thinking what if I should convert all my fiat currency into digital currency/ cryptocurrency Is it adviseable to do that? Please what do you think. 

How much are we talking exactly? If you have a millions in cash it will not be very good decision. If you give us more information we could tell you if this is a good thought you had. If you are a student or very young and just have $1000 and live with your parents then it wouldn't be any big risk.

[Mir Hamza 2888]

No it's so hard to do. We can do it, but no man would want to do it at all. Cryptocurrency can never replace real money because cryptocurrency is a virtual currency. As many people work on cryptocurrency and more than that people do not work on cryptocurrency. In this way, people who do not work on cryptocurrency will want to take their salary in a paper currency and not in cryptocurrency. 

[zhoutong 2188]

On 12/17/2019 at 12:29 PM, Delgboke said:

I have been thinking what if I should convert all my fiat currency into digital currency/ cryptocurrency Is it adviseable to do that? Please what do you think. 

You ask a question about how you should deal with your finances? This is your money friend not ours and we are discussing cryptocurrencies here, we believe in them and we expect to see them rise in valuation but we don't give financial advice, sorry.

[Jromz 2158]

I don't think investing all your fiat is such a good option, especially during bull markets. It is wise to always keep some fiat to take advantage of dumps in the crypto market to accumulate more crypto. It's also a good idea to diversify one investments in assets outside the crypto world, for example, stock shares or commodities. 

[guatazoo 7150]

For one person to convert all fiat to crypto it might be the problem, but if many will convert fiat to crypto it might not be that bad because the crypto price must rise because of high demand. 

[yonkii 3205]

My friend @Delgboke you have so many crazy ideas. I don't think this is good for you to convert all your funds you have in fiat and invest them in cryptocurrencies. You need to have restrain and self control. But then again if you had done this when you said you now would be in big profit, so maybe crypto is the answer for many of us.

[Mella 3680]

On 10/27/2020 at 3:39 PM, katri2 said:

 It's a good time because after that the coin may not be as cheap as it is now. Because in the future, the future will be a crypto. But it's still risky because crypto is unexpected. One thing you can go with some safe plans instead of making high profits is to invest some of your money.  

I am think this too my dear. In the future it will be the crypto and it is risk but with good skill done it will be big and give so many reward. I am too will think it is best to go all in and give it a go as Microstrategist did and bought all the money it had in bitcoin.

[noshot 154]

My man I don't know if this is very good idea, I though about it too but all our money in crypto? And what if this starts going down a lot and we lose 90% of it, isn't this something too much to handle? I will invest half and reduce risk.

[Bond07 166]

On 12/17/2019 at 4:29 PM, Delgboke said:

I have been thinking what if I should convert all my fiat currency into digital currency/ cryptocurrency Is it adviseable to do that? Please what do you think. 

IF you are doing this that's called investment. You must choose the strong coins when you are transforming you whole portfolio. You may do this with bitcoin and don't sell until you are in a good profit.

[Ryken8 545]

It is best to diversify your funds, keep fiat and cryptocurrencies alike, both have its purposes and values. In case one currency depreciates you will still have the other to rely on.

[saradz 2259]

On 12/17/2019 at 11:29 AM, Delgboke said:

I have been thinking what if I should convert all my fiat currency into digital currency/ cryptocurrency Is it adviseable to do that? Please what do you think. 

If the amount is large, it is better to invest in real estate or gold ... You can invest part of it in cryptocurrencies because there are great concerns about cryptocurrencies because their future is unknown.

[velasco19 1753]

I don't think it's a good idea, unless you have a previously defined investment plan.
Although if you want to have all your FIAT money in cryptocurrencies you can exchange a part in stable coins and the rest you buy in the cryptocurrency of your choice.

[entrepreneur 634]

I think that it is a good choice, because more and more millionaires are transitioning a big part of their budget to crypto, so it's easy to trust them.

[Amiami 1362]

It depends on what your objectives are, if you want to invest that money in a project or program that generated profits in a constant and safe way, the best option is to do it, but if you want to save and maintain a constant value for your money, it is best not to do it, since both the internal markets of a country and those established in cryptocurrencies tend to change daily.

[mias15a 1102]

Well, how are you going to pay for usual services? Sometimes it takes some time to get money back from crypto to fiat. Besides, the coin you "invested" in can drop down, and you will lose part of your money.

[Sanjana321 6]

On 12/17/2019 at 5:28 PM, sdsonjoy50 said:

I don't think it would be good to convert all Fiat currency to cryptocurrency, because without online transactions we need Fiat currency, and depending on the economy of a country, on fiat currency, all the cryptos will have a big impact on the country's economy.

That is correct it is a good kind of suggestion my brother which would help many members to understand there limitations to have converting all the fiat currency to the crypto currency.

[ShiNorton 906]

It is good if you are ready to take risks with good speculation. You're converting fiat into crypto means you're betting money in the volatile virtual currencies crypto. Take the risks you can do if you're comfortable.

[Frodler 943]

Well I think is not a great idea, because we still have some platforms that's won't accept crytopcurrency as a means or method of payment, so it's better you keep it like 60/40