Is it good to convert all fiat to crypto?

[David84 1191]

Only convert what you can afford. It is not wise to convert all your life saving to cryptocurrency, because you will probably trade with them and there is a high chance that you lose them. So keep what is enough for you and c convert the rest , in this way I think you will be in the safe zone, but do not ever take a loan to invest in crypto that is awful thing to do.

[Rosarvx 965]

no it's not, you can assure yourself that you can earn from investing in crypto also you can convert your fiat to cryptocurrency

[Yuki 526]

Depends on the time you do that the answer can be yes or no , because like when cryptocurrencies dumped in last March it was a great chance to buy BTC and who did that earnt 1000% profit today but of course I won't suggest to keep your balance as cryptocurrencies for ever , after you make the profits you should convert back 50% of you money to fiat

[pax166 0]

Good day. I think it is a bad idea converting all your fiat to cryptocurrency because fiat currency has its own usefullness. There are some good investments that requires fiat money. However if you decide to move all your money into cryptocurrency, you might actually lose everything if something goes wrong. So the best thing is to have some investment with fiat money and some with cryptocurrency so that you will not end up loosing everything. Diversification will save you alot of losses

[betelihem 4766]

11 hours ago, Diran said:

It is not good to convert all 100% of your money in crypto, like with every investing, It should be about 40-60 percents I think, not more. And choose crypto stable coins, don't invest in shitcoins or noname altcoins

Yeah investing all our moneys in cryptocurrency have a big risk, that if the price of the coin that we invested drops we may lose all our moneys and also if e get scammed or hacked that also will put us in some big risk, so its better to invest money that we can afford to lose.

[Malik Abdullah 376]

I think this is bad idea . You will lose you fiat money of you try to convert them into bitcoins. You should wait for rising of your coins and you will get a profit in future. You should collect all information about crypto trading than you will think about this.

[glory50 1259]

@Delgboke @Kanji @rasmuselm @Shiya

Yes you can if the two are effectively and efficiently working perfectly there is a lot of work to which we are able to grow and be good in the best effort to the effort there is and we need to work as hard and be good in the greatest effort that even work perfectly to us. Growth is right and effective and right to really everybody who knows how to balance everything

[Quickbee 26]

First of all nobody will dare to do it. Secondly if at all you would like to do it, it should be done when the prices of most coins are low. Then only one can hope to make a profit.

[Shahin3864 101]

You save your money first and wait for the time. Still illegal in certain countries. Probably not yet for now. Because crypto is not fully accepted.

[Farouk jubril 58]

It is advisable to convert your fiat currency to crypto currency because crypto currency is the  biggest thing on the internet, it is appreciating daily and it will be a good investment for future purpose.

[isther69 522]

In these times it is a very good option because most of all fiat currencies are losing value in terms of cryptocurrencies, CORONAVIRUS 19 has caused a financial collapse in many countries of the world which has allowed other assets to be seen as a refuge apart from the gold and silver that were the most common.

[Authority 630]

On 1/8/2021 at 12:13 PM, Meerub said:

According to my opinion, this is not a good, We should not waste our money in crypto  currency as the price of bitcoin is decreasing day by day in the market so if we invest in such a time we will lose a lot.So we should try to invest when the price of  bitcoin  increasing in the market and we have to wait for the right time.

In crypto and you must not be anxious at every one of but you essential hold on to the keys of your wallet in a nontoxic and hush-hush categorize subsequently as not to shortfall your change.

[karam_s 412]

Hello, we are still in the beginnings of the formation of the global financial markets for digital or cryptocurrencies and can not be trusted now 100%. You can invest some of your paper money in digital or cryptocurrencies, but not all of them in anticipation of any problem that may affect the cryptocurrencies

 

[Muhammad Abu bakar 482]

Well for me its not a smart idea to do so.We all know that online currency is not so much stable yet that we should convert all fiat into cryptocurrency.However we should try to convert it slowly slowly.we should gain experience first than we should do it.It will be better for us.

[Sairaranjha 674]

No dear it is not good to convert your all fiat into cryptocurrency.convert only that part which you can afford to loss.if you have good knowledge then you can convert other wise it is not a good idea you may loss your money.because in many countries only paper money is acceptable to buy clothes and other items.

[Lapulga04 259]

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. 

Hello friend as much as tempting the feeling of doing that might seems due to current increase in value of crypto currency, converting all your Fiat currency is not always applicable to most people, crypto currency exchange is not yet approved in most countries as means of daily transaction.

[Malik Abdullah 376]

I think this is not good idea. You will lose your money by doing this. If you want to get benefit from trading you should buy coins at low price. The. Wait for the time when Price of coins become rise to sell. You will get benefit from trading doing this method.

[Khetam 328]

I think the conversion of banknotes into cryptocurrencies should be considered in the region where you live because there are countries that have not yet dealt with cryptocurrencies. 

[Mr.Rayan 2]

Putting all your money in cryptocurrencies while you are a beginner may be very risky. You do not have to risk all your money. I think it is better to divide your money between cryptocurrencies and your normal life.

[Alsh9 1007]

Don't put all of your coins in one basket, my friend, so you don't lose them all. Work on distribution. You can store banknotes and coins, each separately Be smart and keep your coins and work hard to make good payments

[Sir Lyman 399]

From my own understanding i don't think is a good idea because we need money in our life on daily basis just incase of emergency but when we convert all into crypto then we will be very disturbing about our investment and if it happened and there is no network coverage then it will become a huge problem to us.

[koynayak 1923]

No, i don't suggest you to do that because it's better to have some fiat currency. Crypto is very volatil and if you convert your all fiat to crypto your money can decrease. If you really want to convert you can use stable coins but still it's not good idea to converting all fiats to crypto.

[Jack764 1841]

We must have a few paper money left to be able to buy basic needs and save the surplus money in the form of cryptocurrencies

[Rosen 103]

It will be a bad idea to convert all of your money. Actually you are risking all of them. I think you should start your trading with a ideal amount which is not so big. And won't so long to do more investment and then you can easily use your fiat.

Edited January 17, 2021 by Rosen

[betania1 283]

On 12/17/2019 at 6:29 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. 

I see it very well and due to the fact that cryptocurrencies go up in value and give much more profit than fiat money that has a stable value now the problem would be to spend them since there are many places or countries where they do not accept cryptocurrencies as a means of payment for therefore fiat money is always required.