Post
Topic
Board Altcoin Discussion
Why should i always have fiat?
by
Bonwin
on 14/10/2018, 18:12:49 UTC
One of the mistakes that some crypto enthusiasts make is to convert all the fiats they have been able to accumulate all these while into cryptocurrency, which is wrong.

There are times you might seriously need fiats, not just because you do not want to invest all that you have into crypto alone, but to sometimes cover-up for your losses.

How does it work?
Take for instance every coin you invested in had plunged, just like what happens during bearish market. Then you notice another coin that has the potential to give you more than x2 of your investment. You may not be able to afford selling those coins you initially had, which had plunged.
In this case, you might need your fiat to purchase another coin(eth or btc), that can be used to make the new purchase.

This works most times for traders and sometimes for investors.
Before you know it, you would have recover your losses within a short time and you will have nothing to worry about.

It works for me and i just wished to share the idea, peradventure you will find it useful.