To which fiat currency do you prefer to convert your Bitcoin most of the time? USD or your Local currency?

[Brushless4500KV 4214]

Whether you earn bitcoin through trading, claiming on faucets, playing dice games, lending, participating in airdrops or any other methods of earning, you sometimes need to convert your satoshis to fiat currency to spend for goods or services that don't accept cryptocurrency payment method. Each country has its own fiat currency and traders have different nationalities. I know that most traders may tend to convert their BTC to USD but is it always the case? Do you always exchange your BTC to USD or to your local currency? Does it have any benefit for you to use USD instead of your local currency and vice versa? I'm among those traders who only convert my BTC to USD or Euro regardless of my country's currency because USD and Euro are the most accepted fiat currencies in the world and you can buy anything with them all over the world. Have you ever converted to other currencies? If yes, why?

One main benefit of converting BTC to USD is that it is easier to buy BTC again with your USD.

[Pearls Before Swine 815]

I don't convert bitcoin to fiat currency, that's how you *lose* profits.  Even a stable currency like the USD won't gain in value like bitcoin possibly can, so unless you  have a pressing need for cash to buy things, I would recommend holding onto bitcoin and whatever crypto you have. 

 

Nor do I know of an easy way to convert bitcoin into fiat.  You can try to do deals with individuals, but that's not easy without getting scammed.

[aqua 773]

Not yet, not all countries have their own coins. I think it will be useful if we can use stable coins like USDT to save our profit, so if the coin price can get down, we can buy at a low price. I prefer to sell my bitcoin to my local fiat because that means I can directly use that money to buy what I want, and I can fill my daily needs. It is better if I can use my local fiat to receive the money from the withdrawal, so I don't have to pay more fees to convert from USD to my local fiat.

[lucky80 1046]

On 12/23/2019 at 9:24 PM, Brushless4500KV said:

Have you ever converted to other currencies? If yes, why?

No, I never do that. Because I never trade BTC with USD. I trade on altcoin. Besides I live in a country where my local currency is legal to trade with BTC. So why I should use USD, lol.

[iloveyobit 6599]

In the country where I live, there is no e-commerce for that. I am forced to transfer to my local currency. The whole process is to convert bitcoin into US dollars and then sell it on sites and forums in exchange for the local currency.

[Maxtron73 3269]

Well since i am in europe i deposit in euro so i can buy bitcoin and XRP . When it will be time to sell during the next bull market maybe i will exchange bitcoin with Tether and then stay on the sidelines. 

[Opinder 1310]

I converted bitcoin in my local currency for the payment purpose. Because i done all payments in local currency. And also i convert it in litecoin for high transaction speed and low fee.

[kadayakito 765]

The cryptocurrency I have I convert to fiat, I prefer to convert it to domestic currency because it is easy to use in my daily payment, where I live there is not much money exchange

[Syedbesharat 5423]

I preferred USD because it help me alot.I can but and transfer it to any form ,exchanges .I can easily convert it to my local currency.But it happened some time .I used USD for all means.

[BTC Future 3946]

I think it is better to track trades using the USD (or USDT). My currency is euro and I only use it to convert from usd when I'm about to withdraw. For altcoins I'm only using BTC terms though as I've been accustomed this way and prefer to gain more in BTC terms than USD.

[jacker 1095]

I want to convert my currency into my local currency, as I will be able to afford it in shopping or daily living. In my country, USD is also used a lot, but the area where I live is less served

[fatima123 320]

I always convert bitcoin to my native national currency because we need money in our own currencies to with draw in our bank account that is why I converted to native. 

[Gafar 63]

No, you have never converted a formation to a currency other than the US dollar because it is the best and you can control your money easily and you can spend whatever you want from it at any time and even you can buy bitcoin again if you want it

[phpMailz 568]

I prefer to convert my bitcoin to usd cause it is easier to convert my bitcoin to usd than to my local currency and usd can be used in my country side by side with my national currency, so I don't have to convert again, I can just used the usd.

[babaji 1228]

With tether having the largest volume of transactions compared to any other crypto I prefer to convert it to USDT, every now and then, when I am trading, but if I have to withdraw, ofcourse I convert it to local currency. 

[Investors Blog 385]

Most of the time i directly sell my BTC to my local currency. But when i am using my coinbase account i always covert to USD for Buy n Sell.

 

Good thing about my local exchanger they accept XRP and ETH too 😄 so i can save on fees instead of using BTC.

[Jami95 38]

People mostly converts bitcoin to only one flat currency and that is US dollar. US Dollar is an international currency used in all sectors almost

[Apple 202]

3 hours ago, Umme Haani said:

I try to convert it to local currency but it doesn't happen, so I change it to US $ and then take advantage of it and it just keeps getting better.

What did not happen? Lol, where did you do this transaction? If you want to exchange it for local currency, you have to do it in an exchange that supports your local currency.

[Fadimah 191]

I usually convert my cryptocurrency to USD and then from USD to my local currency. The reason is that not everywhere in my country makes use of USD. So if I withdraw in USD, it will be of no use. Best I withdraw it in my local currency. 

[Brushless4500KV 4214]

On 2/17/2020 at 9:08 AM, Fadimah said:

I usually convert my cryptocurrency to USD and then from USD to my local currency. The reason is that not everywhere in my country makes use of USD. So if I withdraw in USD, it will be of no use. Best I withdraw it in my local currency. 

Why do you make two conversions to reach your local currency? If your country doesn't support USD, you can convert your bitcoin directly to your local currency in one transaction (instead of two). In each country there is at least one online exchange that supports the currency of that country. However, if you don't want to spend your money in your own country, it is better to convert it to USD because you can buy any cryptocurrency easier with USD as an international currency.

[George10 9932]

I didn't know about the benefits of converting bitcoins to USD as I always convert my bitcoins to local currency and I'm comfortable with that.

[Man 741]

Because I do not trade on my local exchange, so I cannot convert it to fiat. So the thing I did was convert to Tether (USDT)

[Shaza Ahmad 1682]

No I have never converted bitcoin or cryptocurrency to a currency other than the dollar, I think the dollar is the best because I can exchange it for anything I want and anytime I want

[miskyming 1588]

I usually to convert bitcoin into local currency because my country supported cryptocurrency so we can easily to convert crypto into our fiat currency here.

[ayatoslaw 858]

Depending on where I trade, whether it's on a local exchange or a public exchange, if on a local exchange I prefer to change BTC to local money and withdraw it to an ATM, but if on a public exchange such as binance or yobit then prefer to exchange to USD. but mostly I will change it to USDT, because it's easier, whereas sometimes in general exchanges don't have BTC/USD pairs only BTC/USDT

Edited February 28, 2020 by ayatoslaw