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Fiat currency or Cryptocurrency

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#1
We are all familiar with fiat currency because it's the currency we are all used to as they are generally acceptable in our various countries. The most popular fiat currencies are US dollars, Euros, Yen, Pounds etc. There are so many others but the underlying information is that they are all generally accepted for buying and settling of debts.

On the other hand, we have digital currencies or Cryptocurrencies as it's popularly called. The first cryptocurrency was launched in 2009 and it's Bitcoin and ever since then, there have been countless Cryptocurrencies such as Ethereum, Litecoin, Dash, Ripple etc. Cryptocurrency are accepted in some countries while it's not acceptable in many other countries as well. Cryptocurrency can be traded online and equally use to purchase items online.
 
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#2
For now my country doesn't accept cyptocurrencies so we are still using our fiat currency with how volatile and unstable Bitcoin is I wonder if the government are ready to back it up or endorse it for general usage like the fiat currencies. I just claim mine from faucets and exchange them with third party exchangers.
 
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#3
For now my country doesn't accept cyptocurrencies so we are still using our fiat currency with how volatile and unstable Bitcoin is I wonder if the government are ready to back it up or endorse it for general usage like the fiat currencies. I just claim mine from faucets and exchange them with third party exchangers.
Actually the volatile nature of cryptocurrency is what makes those who invested and are trading on it to make lots of profit because when they monitor the cryptocurrency exchange market, buy when it falls in price and sell when the price skyrocket, they make lots of money in the process. Take for instance, when you buy Bitcoin when it was around $5,200 few months ago and now sell at $7000 plus, can you see the margin of profit with a short period of time. It's just a shame that cryptocurrency isn't yet generally accepted all over the world.
 
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#4
Actually the volatile nature of cryptocurrency is what makes those who invested and are trading on it to make lots of profit because when they monitor the cryptocurrency exchange market, buy when it falls in price and sell when the price skyrocket, they make lots of money in the process. Take for instance, when you buy Bitcoin when it was around $5,200 few months ago and now sell at $7000 plus, can you see the margin of profit with a short period of time. It's just a shame that cryptocurrency isn't yet generally accepted all over the world.
It never straight forward like you just explained some people also lose money after buying buying for a particular price then then the price suddenly drops and doesn't raise to the amount one can easily sell to make the profit anticipated one will be faced to sell at a loss.Remember the market is never straight forward or stable and the risk is always high.
 
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#5
It never straight forward like you just explained some people also lose money after buying buying for a particular price then then the price suddenly drops and doesn't raise to the amount one can easily sell to make the profit anticipated one will be faced to sell at a loss.Remember the market is never straight forward or stable and the risk is always high.
If the cryptocurrency price becomes less volatile, it's definitely going to ruin trading on it. I think that it's the reason why the digital currency is set to be the way it is when it comes to price fluctuations.

It's only when the price fluctuates that investors get to make profits from trading in the cryptocurrency exchange market. Some people have made millions of dollars from trading in cryptocurrency.
 
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#6
If the cryptocurrency price becomes less volatile, it's definitely going to ruin trading on it. I think that it's the reason why the digital currency is set to be the way it is when it comes to price fluctuations.

It's only when the price fluctuates that investors get to make profits from trading in the cryptocurrency exchange market. Some people have made millions of dollars from trading in cryptocurrency.
I agree with you that some people are making big from it,but I don't think that the price needs to fluctuate incessantly like what we see with cyptocurrencies before one can make profit.profit can still be made without all that.

This volatile nature makes even investing in the sector looks scamming and really risky. It takes one with a high threshold of failure absorber to risk or stake his or her money in such an investment but I will love to invest here if I'm convinced of getting my ROI.
 

chameli

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#7
Currently, crypto currencies are only limited to virtual world. Crypto currency is not available for the transaction in the real world. Therefore, fiat currency is more valuable than crypto. However, the future is crypto. There are many benefits of using crypto. For instance, just by holding for some time, you can earn profits.
 

johnywalker

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#8
i don't have experience with crypto currency, I have never used crypto currency. However, I believe crypto currency has the power to change the world. Only the government can create fiat currency, where as any Tom, Dick and Harry can mine and create crypto currency.
 

ahmedo24

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#9
Fiat currencies remain the most reliable currencies for our transactions cos their values are controlled such that it is not volatile. However, trading in Crypto currencies is a risky investment that requires patience cos there are gainers and losers because of the volatile nature, the only way you may not loose out is that when you have it and the price is down, you keep it till when it rises.
 

Junrose123

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#10
For me I would try to use the cryptocurrency because nowadays it is already accepted in my country. I want to give it a try to see how it works and to know it's limitations. I want to make an experiment on wether cryptocurrency are good or not.
 

moh254

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#11
I lost hope in crypto since bitcoin started losing its value. I tried venturing in ether but the whole conversion to dollars pushed me off. I therefore decided to let go of crypto. Am now working with dollars and at times some other times Euros although have never cashed out with euros. The only problem with crypto is its value depreciating. You might invest in crypto and go at a loss because its not predicted.
 

ahmedo24

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#12
Crypto currencies is still the best to have in my country cos the conversion rate is higher than that of dollar. Trading in it should be done with caution, don't invest in it for too long, once there is 20% rise sell it off and reinvest
 

Kei

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#13
Fiat currency is more valuable to me. Cryptocurrencies are also valuable in the virtual world. What makes it more interesting is that you can exchange them with Fiat currency and vice versa. That's the link. I think it is increasingly becoming acceptable around the glove though.
 

Junrose123

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#14
Currently, crypto currencies are only limited to virtual world. Crypto currency is not available for the transaction in the real world. Therefore, fiat currency is more valuable than crypto. However, the future is crypto. There are many benefits of using crypto. For instance, just by holding for some time, you can earn profits.
Yes you are right on that, I am expecting a lot in crypto in the future because I see that it could be one of the greatest currency that we may use aside from our fiat currency. Although you may earn profits at some crypto but it may just take some time.
 

ahmedo24

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#15
I prefer the number of Crypto currencies should not be too much, we already have enough, if they become too much, many of them won't last in the market, they won't have much value and may not serve it purpose.
 

Kei

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#16
I prefer the number of Crypto currencies should not be too much, we already have enough, if they become too much, many of them won't last in the market, they won't have much value and may not serve it purpose.
I think this is because everyone one is out for business. Since bitcoin determines the value of all other coins, they aren't so important to me. Besides I'm yet to see a currency that would rise more than the stands of bitcoins and ethereum.
 

ahmedo24

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#17
The problem is that most people rush into getting their own Crypto currencies without having full details on how it is run, the challenge and how profit are generated. Till date some airdrops/bounty are yet to get into ICO stage let alone to be launched.
 

chameli

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#18
You want to buy a newspaper from a newsstand, you need 55 cents, how do you pay with crypto currency? You need fiat currency. You are in the super market, there is no internet or electricity, how will you pay with crupto currency, you need fiat currency.
 
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