Is it good to convert all fiat to crypto?

[Jeet Narayan 1940]

No , that is very bad idea to investment in crypto market . When Crypto coins price drops , that is best time to invest in Crypto market . When Crypto market is in bearis situation that time is for  investment.

[Zalaks007 543]

I don't think is a very good idea for someone to convert all his fiat to cryptocurrency because if you are to convert them to cryptocurrency, you might not able to get all the things you need with crypto because is not yet accepted everywhere yet. I only advice you convert just reasonable amount you can afford to crypto and keep the rest

[iloveyobit 6599]

Investing in crypto is good and can be profitable in the long run, but you don't have to risk a lot of money that you cannot afford to lose in the event of this,good luck mate.

[BrolySSJ 7899]

I do not advise that anyone does this because as you can see from the market, the crypto industry is very volatile and a coin can become a dead coin at any point. also coins such as bitcoin drastically change in their prices everyday. The rule with crypto is that you should only invest the amount that you are willing to lose because of how uncertain this market is. Therefore if you want to invest start with a small investment. Never convert all your fiat to crypto as this is very risky and could have serious economic implications for you.

[Brand1 1336]

I never advise you to convert all of your paper currencies into cryptocurrencies. It is better to convert part of them only, as you use this part in some areas of encryption such as trading, and frankly, doing all banknotes for cryptocurrencies will be very dangerous because the crypto world is anonymous and nobody knows what In store for its users, so it is better to use cryptocurrencies and paper currencies alongside some, and I hope that you will always stay away from this thinking.

[Dmasked 1840]

You should only invest what you can afford to invest. Cryptocurrency seems like a get rich quick scheme but trust me it has its risk and there no cryptocurrency that guarantees you will earn a margin on your investments. Its not even sure that the value will remain constant. So invest the sum that you can afford to lose.

[BTC Future 3946]

On 5/7/2020 at 7:57 PM, DoboniAyuuii said:

I converted all fiat to crypto because I want profit, I can not hold that that devalue, I prefer tether and bit coin or other coins Inca use to profit. 

Depending on the money people have in their banks and on how they plan to use them, I'd say that crypto offers a good opportunity. Instead of holding a lot of money in the bank for years and watching it lose value, better invest in Bitcoin and other cryptocurrencies and watch the value rise.

[Laboni 755]

Investing in crypto from Fiat currency gives more profit In that case if Fiat is converted to crypto then the demand for Fiat will increase and the investment will be higher because everyone wants to make more profit. Everyone is investing in crypto to increase the value of their currency as the amount of profit here is less to replace the Fiat currency in the bank.

[TimopheyKa 3900]

I think there are certain limits to this! In other words, you should not invest all your funds in cryptocurrency, but leave 50-70% of your salary in Fiat. And if you just have a Deposit, then it's better, you can invest everything without fear of extra loss!

[BTC Future 3946]

On 7/21/2020 at 7:51 PM, TimopheyKa said:

but leave 50-70% of your salary in Fiat.

A good plan is to just invest small amounts out of our wages each month as $50-100. This way we won't have too much risk and it may be that after a parabolic run we take profits and wait for prices to return to normal to rebuy.

[Mcd0d0 5882]

On 5/7/2020 at 10:00 PM, rekter said:

I guess you should ask yourself why would you do it? Are you expecting profits or do you want to use crypto for living? Because there's no point converting everything to crypto if you don't have any money for life expenses.

Well said, there's a big risk to put all of your money here in crypto because you're not sure if this will be grow up or not, there's a 50/50 situation here so we need to ask ourselves if you're fullfil or willing to invest all of your money.

[Moaz 7239]

Of course not, I do not advise you to convert all your fiat coins into cryptocurrencies. This is a mistake in my opinion, because you need to shop and buy basic daily needs through fiat currencies.

[Sugibengi 390]

On 12/17/2019 at 5:29 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. 

In my opinion, converting all your fiat money to cryptocurrency is not good, because in trading it takes a good calculation to divide the fiat money used to buy coins as well as the money used for daily living expenses, and the fiat savings you need. So if you want to invest, you can share evenly, between investment, living expenses, and also savings.

[gourav789 2834]

this isn't a good design , because this isn't possible that all times you will received a profit from it , sometime their is equally chance that we suffer from loss also . just convert 10-30% your net income into Crypto currency and try to analyse market .

[lharost 1526]

No, it's not good, there's a thing about diversifying your portfolio into many different assets and if you just put it all into crypto and cryptocurrencies for some reason don't get the adoption it deserves in the future you will be losing it all, at the end of the day we are all speculating and we don't really know what happens to crypto in the future and people should not just risk all their money with just pure speculation.

[TheRaed 1247]

Now is the best time to do this and I advise you to invest your money in three currencies or more and choose those currencies carefully, and you will definitely be profitable.

[somrat909 49]

You should not convert all your money into anything. If you do this, you risk your whole life and effort and if you do, you can't start it again or it takes half your life to reach the same level! In my opinion, the safest way to start trading is to start investing with $1000. You can start with this amount and forget about any other Fiat investments.  

[Solex 2262]

Cryptocurrency business is very good source of income but I will not advise anyone to convert all they have into crypto because some coins can be disappointing which may lead one to get loss for that I will suggest you divide what you have into two Invest half outside Crypto and other part in good potential coins. Two(2) head is better than one(1).

[Moontong 5312]

I don't think that it would be a good idea, you should also save fiat currency on your own, do not convert it all because there are some instances that you will be needing fist currency for some real-world needs and wants.

[Dorjoy12 8962]

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. 

There has some view about it.. Firstly if you keep your money in fiat currency then there has a low chance to lose your money but if you convert your fiat to crypto currency then you can have good profit and have a  huge lose too.. Becuase crypto currency price is not stable like fiat currency so there has a chance to get lose.. Now its your decision              

[Tunuu 2235]

Do not try that friend because you will regret if you will lose them all. Investing is always taking risks so you should only convert few amount of your feat money so that you can recover any time when a loss will occur.

[Guru2050 8284]

Even as a trader, investing all your money buying Crypto coins is not a nice idea, what of if the market go against your predictions, then you no option than to loose some of the capital. So invest the amount you can afford to loose and save the remaining money for future purposes

[somrat909 49]

RTFolio is very different resources and if you put it in crypto and cryptocurrency for some reason you will lose everything in the future, at the end of the day we all guess and we don't really know what will happen to crypto in the future and people just won't risk all their money.   

[Mwangi 5611]

Technically its posible, but when it comes to tough it cannot be, we are suppose to agree as the world on it, because nations deal with each other on the basis of fiat currencies when it comes to doing business, but if some of the leaders in the world economy see a disadvantage to it, they will  avoid it from happening

[Yabuko 629]

No of course not  and since you asking us this question it means you have no knowledge about the huge risk you taking by doing that , those who convert big amounts of money into crypto are smart and experienced traders and know how to work but i don't think you will find any of them don't have fiat money just in case anything happens , i advise you to learn more before entering this field so you don't end losing all your money

Edited September 21, 2020 by Yabuko