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Delgboke

Is it good to convert all fiat to crypto?

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I do not think it is advisable, you cannot do without paper money at the moment, and cryptocurrencies are highly volatile, so you are likely to lose your money if the price of cryptocurrencies falls dramatically. I advise you to convert 25-50% of your paper money into currencies. Coded and when its value rises well on sale, do not greed because greed may cause your loss.


 

 

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I well atleast recommend for you to not atleast convert all of it as you know it will cause some inbalance to the market value and other factors that you wouldn't expect so yeah really its not a big problem as long you wouldn't convert all of them.

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It is a very good idea if you won't be buying anything with fiat. Of course you can't buy everything with crypto yet so you will be better off saving some money in fiat. Don't convert everything to crypto yet.

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invest the sum that you can afford to lose, cryptocurrencies for some reason don't get the adoption it deserves in the future

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On 12/17/2019 at 5:07 PM, Yanadia said:

I dont think.thats good.idea. just learn more about crypto till you find the righg decitions. If yoj eang inbest or do trading is good but not mean to do so  converg all ur fiat to cryptocurrency . But its uo to you. 

Right, as the Fiat price change factor are very low but in crypto there is no guarantee that the coin will last for a log time, So I would also not recommend to covert all your fiat into crypto.


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I think it's always better to start with few amount so that incase of change in trends in market conditions you indeed won't loose much money. According to the current trends I think fiat money is necessary for our safety.

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I don't think it's good to convert all your money into cryptocurrency, invest within your means and don't force yourself to invest all your money in cryptocurrency. Cryptocurrency isn't a get-rich-quick business, there are so many failures there that you can't rely entirely on cryptocurrency.

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On 12/17/2019 at 6:29 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. 

I don't think that is a good idea. Crypto currency could give you double or triple of the fiat currency you wanted to invest it but crypto is also one of the most risky job for us. You could lose your money here. For me I can't afford to lose my money here so I didn't convert all of my fiat currency in crypto.

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On 12/17/2019 at 1:32 PM, bliznec said:

Today it’s worth buying bitcoin and for this, you need to make an exchange of fiat for bitcoin. I think that at 6,800 dollars, the price is suitable for a purchase. 

One can buy bitcoin at any price but it isn't worth putting all your money at risk because when things turn sideways, you will have a lot to face and it would definitely affect your lifestyle. Only invest money you are willing to lose.

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Cryptocurrency can be easily converted to Fiat currency and any cryptocurrency can be easily converted to Fiat currency at any bank.  However, I would suggest that if you keep the coins in cryptocurrency without converting them into fiat currency, good profit will come at some point.  Converting to Fiat currency will not bring profit from it but if it is in crypto currency it will bring a lot of profit.

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It's a good idea to convert your fiat to cryptocurrency, because the cryptocurrency will yield more profits than fiat currency. I will advise you not to convert all your fiat to cryptocurrency.

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On 11/14/2020 at 4:17 PM, Chelsbenjamin said:

Hello my mate it's a great idea to convert your fiat money to crypto currency as it's a great idea to buy the coins at the drop in the value so as to buy more and then we can sell it in a high profit when the value of the coins increases from these ways you can also earn more earnings from it.

Converting everything you have to crypto is the worst thing to do. The best idea is to invest whatever left from your income after daily and necessary expenses. Trading this way will never damage your life because you make your capital separate from your emergency needs. The expression " invest what you can afford to lose " should be changed into " invest what you can turn into profit ". If someone is sure about his trading position, he doesn't think about losses.

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Depending on your own opinion but is not adviceable to convert all your fiat currency into crypto because both are very important and have their own use when the need arise.

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On 12/17/2019 at 3:00 PM, Afrizal rahman said:

For now maybe not yet. because crypto has not been fully accepted and is still illegal in certain countries. you better save your money first and wait for the time.

Well everyone have his or her ways of using their earning. Some prefer to invest their cryptocurrency while others dont belive in that because of the risk involvement. The price may rise when your cypto is in your wallet and it may also decline. So it depends on what one belive on. But for me I prefer converting it to fiat.

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In  my opinion, it's a bad idea because we need fiat currency for our daily dealings.If you don't have idea about  crypto then stay away from investing because it can cause you huge loss. 

Don't put your all eggs in one basket it's  a famous aying from a bussinesman.So invest less then earn profit and then reinvest with profit it's my suggestion. 

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I don't think it advisable, every body with there opinion, in my opinion I will advice you convert even if it half of your Fiat money to cryptocurrency,any thing can possibly happen in the cryptocurrency world, or what your say about this @Dorjoy12

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Of course it's not a good idea., I have always considered that fiat money and cryptos should go hand in hand with each other.  Let's take into account only one of the negative aspects that such a decision has, the volatility of the crypto market. If you invest your fiat money buying crypto and ends up devaluing the project in which you invested. Or if it was just another scam. You have to have a lot of how to make investments.

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It is very bad for you to convert all fiat currencies into a cryptocurrency because the future of the cryptocurrency is unknown at this time and that your doing this will expose you to permanent risk, so it is better to buy some of the cryptocurrencies and use them alongside fiat currencies

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Don't do that. Transfer money that you can afford to lose.

These currencies are volatile and volatile. What you win today you may lose tomorrow.
If you need this money during the loss, you will be forced to withdraw it from the market at a low price, and you will not be able to compensate for that loss easily.

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I don't think it's good to convert all your fiat earnings into cryptocurrencies. As far as I am concerned, Cryptos are volatile, and they do not have stable price rates. So, if we convert all our fiat to cryptocurrencies, there's likely a chance that cryptocurrencies might get hot by a bear market(dumped) over a certain time, and if you've converted your fiat currencies into cryptos, then at this situation you will be making a heavy loss on your side. So, I wouldn't recommend anyone to convert all their fiat money into cryptocurrencies, because it's too risky and people are likely to bear a heavy loss.

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21 hours ago, Jaafar Fahad Hassan said:

I don't think it advisable, every body with there opinion, in my opinion I will advice you convert even if it half of your Fiat money to cryptocurrency,any thing can possibly happen in the cryptocurrency world, or what your say about this @Dorjoy12

 In crypto world fiat currency  is needed badly because sometime crypto market pump like 2x so in that time its necessary to convert your crypto to fiat for store the profit...  Again when crypto market go down then its necessary to use fiat for collect more crypto with low price..  Also its true that we need to have half capital of fiat and half crypto @Jaafar Fahad Hassan          

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41 minutes ago, Dorjoy12 said:

In crypto world fiat currency  is needed badly because sometime crypto market pump like 2x so in that time its necessary to convert your crypto to fiat for store the profit...  Again when crypto market go down then its necessary to use fiat for collect more crypto with low price..

@Dorjoy12 Exactly mate. Fiat is a must in the crypto world. But there are also stable coins like USDT (Tether), TUSD (True USD) and USDC (USD Coin) etc which you could use instead of Fiat. These are specifically made to be an equivalent to Fiat. So, Fiat is not always necessary.


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I don't recommend it to you because it will put your capital at huge risk. It would be like a gamble because cryptocurrency is very volatile and you can end up with reduction in your money.

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20 minutes ago, Dark Shadow said:

@Dorjoy12 Exactly mate. Fiat is a must in the crypto world. But there are also stable coins like USDT (Tether), TUSD (True USD) and USDC (USD Coin) etc which you could use instead of Fiat. These are specifically made to be an equivalent to Fiat. So, Fiat is not always necessary.

 Actually usd also a fiat currreny friends as usd is the USA  national currency..  Again as far as i know usdt is stable currency not fiat currency @Dark Shadow..   Also Uro is fiat currency that get used in Europe country’s every time by which any time members can buy crypto currency from any exchange.                   

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It will be impossible for you to pay your utility bills in cryptocurrencies so if you convert all your Fiat currency into crypto then it will not be possible for you to pay your utility bills.

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