Post
Topic
Board Bitcoin Discussion
Re: Do you worry about not being able to convert BTC to fiat in future
by
TribalBob
on 19/07/2021, 15:48:39 UTC
I'm currently receiving some of my income in BTC, and I'm just holding it because I expect it will go up long term and so it is my savings.
But sometimes I'd like to be able to turn it into fiat for daily expenses. I can't yet pay my rent or buy my groceries with BTC (hopefully one day! but not today and not in the near future).
With banks in some countries blocking transactions from known exchanges is there a worry that one day it will become impractical to turn the BTC into fiat? Either just very hard to do, maybe street-corner-deals or at risk of getting your bank accounts frozen?
Do people think about this and have plans to work around these kinds of banking barriers? Or are there ways around it already but I'm not aware?

Just like you, I am also worried if my country blocks all crypto transactions, but with P2P on the exchange I am no longer worried, and even more fortunate in our country we have a local exchange that converts btc->fiat in our local area.