Is it good to convert all fiat to crypto?

[JeanC 86]

I would not advise it, it is more I think it is a mistake, remember that depending on the country where you reside you will need fiat to acquire basic services. I also consider that you should have more investment options such as real estate, personally it is a subject that interests me a lot, as much as the crypto world, it is an option to diversify my investment capital.

[Hear80 122]

What a good question the truth is, I don't know if I would convert all my currency to crypto but if I could invest more currencies to crypto I would do it a percentage to bitcoin another percentage ethereum and also another percentage a stablecoin maybe usdt maybe to trade and if it goes well and I need to withdraw  That money would convert my usdt into dai because dai is better sold here.

[ariel1969 3]

aca en argentina el peso cada ves vale menos asi que comprando criptomonedas es una forma de protegernos de la inflacion

[federicol17 29]

 I believe that if you have money saved without using it, take advantage of it to convert it into crypto and thus obtain a profit. As long as it is extra money and one that I do not predispose from emergencies to avoid bad drinks.

[Francisco Cabarico 48]

Bro, I personally recommend that you only invest or exchange your FIAT for crypto, only with the amount of your money that you are willing to leave holding for a few weeks, if you need to spend money constantly it is better that you leave a good amount of FIAT money for those expenses.

 

It is my opinion, I hope I have helped you

[Wanderdark 2178]

Greetings, cryptotalk community. 

The answer to your question is : No, it isn't. You should always have fiat in your portfolio in case that crypto prices decrease to more reasonable buying ranges. It also keeps you in the game if one of your trades go wrong, you missed the stop loss area to decrease the average. 

Thanks for reading and have a nice day. 

[CoinFree 54]

 

On 10/4/2020 at 7:24 PM, Hiroyuki476 said:

Greetings, 

Well, at the moment, your candour proves that you're a forward thinking individual! Good on you!

However, given the fact that the majority of the world's citizens has yet to fully accept and conduct transactions in cryptocurrency, I would surmise that perhaps a 3 to 5 year waiting period would suffice for you before making the shift. Of course, that's not to discredit the swathes of businesses and financial institutions that are preempting the aforementioned transition. 

It's probably not recommended at this point. 

Best of luck, 

@hiroyuki476  

Although there were probably platforms based solely on this service before
binance's P2P trading is opening doors to users from hundreds of countries
to help your savings not only be savings but rather a future investment.


It depends on the circumstances, although I am sure that investing your money in crypto is never a mistake

[TengoDinero 132]

I think that exchanging all your FIAT money for cryptocurrencies is somewhat risky since volatility is very high unless you are considering exchanging it for stable currencies can be very risky
 

 

[toshiSatoshi 29]

That is according to the criteria of each one, I think that if you are in this world of crypto you are interested in acquiring it, to be able to enter, it is a totally particular decision.

[Villa33 143]

Friend, crypto money transactions come from the future and are the future. Rather countries are reorganizing their economies. to launch their own digital currencies. As is the case with China which will soon launch the digital Yuan and the EU which will soon launch the digital Euro.

[memunis 79]

You should convert fiat to various crypto coins not all your money in one coin. Otherwise, it will be risky to convert your money into just one coin.

[jermaine05 179]

I see your question in another way, he is not saying that he is going to invest only that he is going to change his fiat to crypto and he can do it with a stable coin such as theter or usdc so his money will not be affected by the fluctuation and can change it to fiat money when you want it

[Vidocq2021 67]

no just keep it, dont play with big risks.

[tamudosoyyo11 19]

I think it isn´t good to convert everything to crypto,i mean,is okay to own some cryptocurrencies but is preferable to have your money distributed,like 50% in currencies(fiat) and 50% in tokens,for example

[J7torresperez 59]

Yes,because cryptos are the future money ,it is a good deal for us 

[dvorya 68]

Why should all Fiat be converted to cryptocurrency, I think this makes no sense. Personally, I only exchange free money (which I don't use every day) for cryptocurrency for long-term storage.

[Yoobitlover 30]

Yeah that the good idea buy the crypto with fiat and when its on all time high sell it knowledge is first required, first invest in yourself hold it when right time to sell then sell you will get a good profit repeat this process.

[awarya 101]

This seems difficult for now. Cryptocurrencies cannot replace real money, I would never want this to happen. If I am working, I prefer to receive my month-end salary as paper money instead of crypto money.

[awarya 101]

It is not wise to deposit all your paper money in bitcoin or other cryptocurrencies. We currently use paper money in our world and we always keep it in my wallet. Paper money passes everywhere. People already use crypto money to earn paper money. After taking their profits, they transfer to real money.

[TommyMoonD 46]

let's assume you converted all your fiat to bitcoin. the bitcoin's price goes down and up repeatedly and let's imagine that you need to cash out 1000 usd from the 1000 usd value bitcoin you bought from it and you were in a hurry. if the price of bitcoin dropped even 1% in that scenario you can not cash out your 1000 usd. in general all crypto coins have their risks and if you don't want to take the risk it's not logical to put your money at risk. so i don't suggest you to do it if you don't want to risk your money.

[botukk1234 38]

On 17.12.2019 at 12:29, 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. 

The whole currency is not worth it, because the rate may fall at any moment. It is worth investing not most of your money to remove the risks. Good luck with your earnings!

[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. 

I would not recommend spending all the money, since cryptos are very volatile and at the same time you would not earn as much money by putting them in the crypto world, just as you cannot pay everything in cryptos

[hassan7951 25]

I think that currently it is not good to convert all your money into cryptocurrency, because cryptocurrency cannot arise at all problems, so the most interesting is to have a little on both sides.

[ilkanyksl 1]

It is not a correct idea, I do not know how to develop in the cryptocurrency world, but you should have money to spend.

[sykes0446 34]

I do not think that it is necessary to transfer all the funds,since not everything can be paid with crypt now.