Is it good to convert all fiat to crypto?

[1qDan 478]

Of course it is good to convert fiat money to a virtual medium such as cryptocurrencies, however it must be done well, for example I usually buy only when the market points to an exponential rise, like what just happened, I bought approximately 250 dollars in btc at 17,500 dollars and I'm about to sell at 20,600 dollars, crazy right?

[Francisco87 651]

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, unless in your country all businesses accept payments for cryptocurrencies, I think it would not be a good option because I would live on ... It is true that like any investment it is good to dedicate a part of your capital to it, but as always I say when you are mature enough to trade with them....

[Husnyjaf 1784]

3 hours ago, Projectcrypto said:

This is a good point my friend and i will even suggest they create a feature that will enable any new created topic to undergo a series of verification before giving permission to submit in any of the listed sections of the forum because by that we will know that any topic in the forum is not spam.

Yes that will be very good if that can happen. Most of us here have a daily target and when our post got deleted because of a topic that dont have a relevant content it will affect our daily target. So I hope something can be done soonest about the creation of topics.

[Projectcrypto 4382]

17 hours ago, Husnyjaf said:

Yes that will be very good if that can happen. Most of us here have a daily target and when our post got deleted because of a topic that dont have a relevant content it will affect our daily target. So I hope something can be done soonest about the creation of topics.

I just hope that consider my suggestion useful one because they may have there own personal idea they want to use and it that is the case then I fear my suggestion won't be considered but still I believe my suggestion will be helpful if it should be considered.

[Husnyjaf 1784]

3 hours ago, Projectcrypto said:

I just hope that consider my suggestion useful one because they may have there own personal idea they want to use and it that is the case then I fear my suggestion won't be considered but still I believe my suggestion will be helpful if it should be considered.

Yeah you just made a suggestion and I believe their are some post that the moderators or the admin uses their ideas. The forum is always been updated.  So i hope this one should be considered. It's just a suggestion and I belive most members will support if we are to go on voting.

[Malik Ayaz 506]

Still it needs more clearification as if u want to trade through Cryptocurrencies or u are afraid of fait currency like being stolen or texas or something else. Still if ur aim is crypto trading then it can be beneficial but still keep some money for your living spends.

[Lokeloke 576]

I don't really know what Fiat means so I went to do some research and I understand that Fiat money is a government-issued currency that isn't backed by a commodity such as gold. Fiat money gives central banks greater control over the economy because they can control how much money is printed. With the above depositions I won't support converting fiat to crypto currency because fiat is closer to physical currencies and cryptocurrency has not been made available for easy physical transactions

[Jonson Smith 343]

I would say that even if you want to send someone with crypto not convert your fiat, crypto was not acceptable to some merchant who needed it for your daily life so I don't really recommend it.  Do so so that you can recover a loss from another.

[Syriana 350]

I don't think it is advisable to convert all paper money into cryptocurrency, not because we don't trust it, but you have to deal with it now because your country does not use it and does not recognize it. As for the money investment, I prefer to transfer the money into encrypted, work with it and invest it because it is easier

[Froshk 1828]

Offcourse NO, every currency would definitely Have its day, and the fact that not all merchandise accepts cryptocurrencies is better to keep some fiat for emergencies and immediat purchases and purposes 

Edited December 17, 2020 by Froshk

[Biojay 2080]

It depends if you have plans on any investment, if you have fiat currency and you want to make any investment, I will advice you to make investment on different crypto currencies and do not convert your fiat currency to one single cryptocurrency. @Abideen

[Abideen 659]

4 hours ago, Biojay said:

It depends if you have plans on any investment, if you have fiat currency and you want to make any investment, I will advice you to make investment on different crypto currencies and do not convert your fiat currency to one single cryptocurrency. @Abideen

Yes I will advise if one wants to make investment on the platform, you are supposed to invest on different coins. But what I didn't seem understand hair is that if you have Fiat, can you as well use it to buy coins on yobit? Thanks for the enlightment. @Biojay

[Jermany 612]

I think it is necessary to have some fiat money because not all countries accept cryptocurrencies yet, besides the crypto market has a lot of volatility which could lead you to lose all your money 

[Projectcrypto 4382]

15 hours ago, Husnyjaf said:

It's just a suggestion and I belive most members will support if we are to go on voting.

Sure mate because this will help us a lot and the risk of losing most of our posts shall be minimize since only valid topics will be around the forum and only low quality posters will be left to deal with then.

[Nicole018 4548]

There is no simple answer to this question. You require planned strategies that would enable you to make the correct decisions in trading in cryptocurrencies. so it is necessary that you do you are on research and analysis and find the correct amount with which you can convert Fiat currencies into cryptocurrencies.

[Biojay 2080]

11 hours ago, Abideen said:

Yes I will advise if one wants to make investment on the platform, you are supposed to invest on different coins. But what I didn't seem understand hair is that if you have Fiat, can you as well use it to buy coins on yobit? Thanks for the enlightment. @Biojay

Fiat is the normal money that has indirect market value, currently we can't deposit anything on our yobit account, we can only invest and withdraw our earnings from cryptotalk forum there, yobit is currently a new exchanger.

[Mohammad Feyaz 615]

No I don't think that it would be good to convert all your fiat currency into crypto currency as the world of Cryptocurrency is highly risky and u can loss all your money... I think u should consider about your desicion and thought well still u can invest if u have proper knowledge of cryptocurrencies still keep some money in cash to meet your daily ends

[Zains031 426]

If you convert his fiat currency in to cryptocurrency in January so now a time you take good benefits from this because in January all cryptocurrency value is low so now a time all crypto coins reach at top and your cryptocurrency are safe and secure from the fiat currency so one stole your cryptocurrency... So I think you now a time convert his fiat currency in to cryptocurrency because coming days it's value again increase...

[mohamedpc1 2213]

I do not advise you to do this if you do not know what to do because digital currencies need a great study and learn to analyze and trade, you will lose a lot if you convert all your money into digital currencies and you will be bankrupt. I do not use my money in fact on the Internet, because I will not be able to risk my money And my family

[Msh9 84]

A great idea. Yes, we can convert fiat currencies into cryptocurrency because it is a currency in which I trust a lot, and there is nothing wrong with that.

[Naseer Ahmad78 721]

Yes it is possible to convert in crypto,you can invest in any project after increasing the project amount you can earn more profit,i will suggest you to convert in crypto currencies you can buy or invest in any time,i am really happy to join this forum,we are gaining more profit and knowledge about crypto industry.

[Farsa fat 328]

Not more than 20% in my opinion. And only money you can afford to lose! If you already know that you need it in a few months, it is very risky to put it in crypto currencies.

[Faska fas 307]

This is not a good idea because some time market will not goes in your favor then you are in loss on that time and you blame on the market on that time, i just suggest you that invest some fiat money in crypto and buy good coins and wait for the market and when you got profit from the coins again invest your money n 

[Yad hair 358]

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

[Mahmod aljarah 1383]

Depending on the currency that you will buy .. If it is Bitcoin, yes, yes, yes .. Investing in this currency is very profitable in the long term because it will be the largest and largest currency where the future of all currencies will be.