Is it good to convert all fiat to crypto?

[bra231997 215]

On 12/17/2019 at 7:29 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. 

Today it is not so important, since the world's cryptocurrencies are not yet traded worldwide, but in the future it may become indispensable

[Reyna 576]

On 12/15/2020 at 11:20 PM, Dorjoy12 said:

There has no way to remove bounty section from any crypto currency discussion forum

Buddy you're so funny LOL, what i'm trying to say is removed the bounty section to my suggestion to my last reply on your post, can you please deeply understand what i'm trying to say? we're trying to have some discussions here but you're not connecting the previous post.

[Alex9876r 1408]

Not all fiat currencies should be converted into cryptocurrencies and trading is a basic condition that you do not use money that he is unable to lose. This is a violent market with fluctuations, ups and downs, and it is still rather small. Therefore, we must divide our money and know the correct way to invest it.

[Poppisnop 428]

To me I don't think it will be of best interest to convert all fiat money to crypto, because without online transactions cos we need fiat money to make our daily transactions so as to be able to purchase more Cryptos.

[MS SOFIA 254]

Actually no,

not a smart thought by any means. A great many people don't spend bitcoin for their every day needs and still have a requirement for having a ledger or if nothing else having some money close by.

I wouldn't expect them or any other person to change that, in addition to on the off chance that you changed over the entirety of your fiat into crypto you'd be facing a huge challenge.

I know bitcoin and the entire altcoin market have been thrashed over the most recent couple of years, yet there's as yet a possibility they could go down considerably more.

[khan22 3478]

On 12/17/2019 at 5:43 PM, Brushless4500KV said:

No, this is certainly a wrong decision. You should never convert all your money to anything. If you do this, you are risking all your life and efforts and if you lose it, you can't start all over again or it takes half of your life to reach the same level as you started! In my opinion, the safest way to start trading is to begin investing with $1000. You can start with this amount and forget about any more fiat investment. Trade with $1000 and make profit but don't spend your profits and let it accumulate to make a bigger investment. Continue this way until you reach $3000 to $5000. This an ideal amount of investment which can bring you relatively stable income. it may take some months to increase your initial investment by trading, but it is much better than losing your whole life in a few hours!

Converting all fiat money is not a good decision you are right and we make a mistake that if we do that. Crypto is a good market but no one know that which run this market and just invest a small amount in this market.

[Matias Conforti 89]

I do not think it is good to pass all the Fiat to crypto, since it is best to diversify, it is preferable to have a part in Fiat and another in crypto

[Ameralsamt 2558]

Yes, my friend, investing money in cryptocurrencies is very good, it will make you rich in a short time, I advise you to transfer your money to cryptocurrencies you will definitely earn a lot. 

[Burlin 230]

That will be a decent move however not the best since, in such a case that you contribute your all Fiat then you ought to do it by separating the huge sum in little exchanges and furthermore you need to change over those in extravagant and famous money to not get misfortune.

[Brushless4500KV 4214]

6 hours ago, khan22 said:

Converting all fiat money is not a good decision you are right and we make a mistake that if we do that. Crypto is a good market but no one know that which run this market and just invest a small amount in this market.

Some traders are accustomed to work with a single coin and they usually convert all their money to it. If that coin is reliable enough, they may not lose anything but they deprive themselves of more opportunities that can happen with other coins. If I ever wanted to choose only one coin for investment, that would be bitcoin but for having a diversified portfolio I add ethereum and litecoin and a few other altcoins. 

[Hala99 370]

Absolutely no!! Here’s why, what if crypto price down ? What are you going to do , you will mess the opportunity to buy much cheaper than you bought in the first time. You have to build a strategy that will suit your situation.

[Sp19a1ma019 1076]

Good idea dear the amount of money you can convert to the digital currency will be profitable and it will increase more the value of flat so you should try to invest in bitcoin. 

[Mahmod aljarah 1383]

For my part, I do not like this ... but if you come to reality, there are cryptocurrencies that can double or double your money within a few months ... But you have to choose the correct currencies, and they are old and not new..and they have a high market value as well.

[Oki 675]

I recommend not investing all of your money in cryptocurrency, because that is not good for the investment you are currently making. Don't invest too much, according to your ability so as not to become a burden in the future. Buy well-known cryptocurrencies so you won't lose their value.

[Pereira 2303]

It is not highly recommended to invest all our fiat money since we generally need to cover our basic needs, therefore if we convert all of our fiat currency we would be left without covering our needs and despite that there are still several countries which still do not accept fund cryptocurrencies, but maybe in the future we can change our needs and pay with only internationally validated cryptocurrencies.

[DC71 169]

It is not a good idea that you convert your all fiat money in cryptocurrency because cryptocurrency market is very volatile what happened when cryptocurrency price goes down where you invest your all giat money. Always use your extra money in cryptocurrency and it is also a big hurdle in cryptocurrency is not legalized currency

[Alimhana930 1605]

If you hint, you mean not to leave any money frozen, this is a mistake, and converting the money into cryptocurrencies is not always profitable. The market may decline and enter a correction to its previous rise, and here we need to buy at lower prices. If we do not have frozen funds for such cases, we will continue to wait for the market to rise again and we cannot do anything.

[FARISOKTAV 970]

Good question, thank you. To answer your question, No, I don't think so. Although it seems fiat currencies are losing value due to influation, I think we should always have some fiat in our portfolio to buy other assets in case their price enter a correction period and drop in price. So, I always have some fiat currency in my portfolio.

[Mamba79 682]

I would exchange a percentage of my capital to cryptocurrency hoping to obtain a profit in the medium term and I would keep the rest in fiduciary currency, because it is also necessary for transactions with local currency  

[Arratee877 272]

Not all precisely to avoid unexpected whole loosing but average amount of your fiat currency. The first before I should recommend you to go for investment or trading, please make sure to learn the knowledge of handling crypto currencies. Because it's what will be guiding you making the profit.  

[Ninon 0]

I do now not endorse you to convert all your paper cash into cryptocurrencies, and this is due to the fact the use of cryptocurrencies has now not been authorised in all international locations of the world or in all fields, you can switch a proportion of it in order to make investments or exchange in it. 

[Zaman222 415]

To my best knowledge on cryptocurrency as a beginner in cryptoworld, i don't think this should be encouraged to convert all fiat money into cryptocurrency for some reasons like the ability not to easily get access to the money when need as it is known that Cryptocurrency transactions can only be done online.

[Jidson 252]

This is not just advisable to convert all fiat money into cryptocurrency to have easy access to the fiat money when needed. Converting all fiat money into cryptocurrency may require some stress in transaction when it is needed for other purpose and moreover cryptocurrency can only be accessed to when connected to internet.

[m7md 0]

Cryptocurrencies are growing rapidly and rapidly, making them the best current economic investment. Therefore, we must take advantage of this matter and buy and invest in cryptocurrencies in order to obtain profits in the future. 

[milyapsak0901 693]

I think it's not wise, if you're not willing to take a interest from digital currency. If you have dollar in your hand there's no meaning to convert to stable coins, but as we all know we can earn %12 interest with staking usdt or usdc, that means you can convert your usd for taking higher interest than the fiat currency.