create account

Do you use Specific Crypto Exchange to swap to Fiat or you Transact only with Cryptos? by filotasriza3

View this thread on: hive.blogpeakd.comecency.com
· @filotasriza3 ·
$11.05
Do you use Specific Crypto Exchange to swap to Fiat or you Transact only with Cryptos?
![image.png](https://images.hive.blog/DQmQDnHBm5aanqijDAdiMoYC53NpQg8X4CnrmpyFSJwoE7v/image.png)

After the whole FTX fiasco that led to a new circle of crypto downfall with BTC reaching 15k, i start wondering what most people use in order to transact in the crypto world. I also want to stay a bit on the FTX matter because i believe it's quite serious. 

So FTX filed for bankruptcy and his CEO Bankman-Fried lost around 16 billion which was all his fortune. At the same time around 1-2 billion are missing and some reports mentioned that were transferred to another company Bankman had invested and ofc a lot of people that managed to do so had all their money out of FTX. The rest are afraid that they lost their money.

<center>https://media.giphy.com/media/WJ4vstB0EVqla/giphy.gif</center>

Another bad thing for the whole crypto industry is that when a big player like that basically goes away the competition gets a bit scarce and the top players like Binance can actually do whatever they want and even manipulate the prices. Hopefully, other crypto exchanges will erupt or shine and help by bringing some balance. Finally, without having any evidence and by simply sharing my point of view i believe Bankman has some money left somewhere and he won't die of poverty. 

Now as i mentioned that got me thinking about how people store their cryptos and how they transact. Correctly if i am wrong but i think the best way to actually convert your crypto to fiat is by using one of those exchanges like Binance for example. There are also some ATMs around some cities but the fees are quite high. I don't know any other way, to be honest. 

<center>https://media.giphy.com/media/4hQYt88gme8CVqJrDF/giphy.gif</center>

The other thing is to actually don't use fiat at all and transact only with cryptos. For example, let's say you can 1000$ in BTC and you want to buy a new phone or book a hotel. There are some websites that are accepting cryptos for that purpose. 

At the same time there is the big question of whether you store your cryptos in a big exchange like FTX for example with risks like hacking, bankruptcy, or locks on sells/withdraws from time to time, or you have a ledger device or you use a DEX. By far the safest method is the ledger and dex but many people prefer let's say Binance or Coinbase because it's more user-friendly for example.   

<center>https://media.giphy.com/media/QnU6mOrBbElaIQz4Fe/giphy.gif</center>

As far as it concerns me i have 90% of my belongings either here on Hive or on a ledger device and 10% on exchange. The way i think it is that the cryptos i wanna hold are more safely stored and those that i can cash out when i want to buy something i can access almost immediately. The FTX fiasco reminded me that i will need to stick to that practice and don't trust these centralized exchanges at all. 

### So what about you?

images and gifs [1](https://www.coinhouse.com/wp-content/uploads/2019/09/Masternode.jpeg) [2](https://giphy.com/gifs/real-and-true-WJ4vstB0EVqla) [3](https://giphy.com/gifs/bitcoin-btc-cintre-4hQYt88gme8CVqJrDF) [4](https://giphy.com/gifs/crypto-nft-cryptoart-QnU6mOrBbElaIQz4Fe)

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@filotasriza3/do-you-use-specific-crypto-exchange-to-swap-to-fiat-or-you-transact-only-with-cryptos)
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 164 others
👎  
properties (23)
authorfilotasriza3
permlinkdo-you-use-specific-crypto-exchange-to-swap-to-fiat-or-you-transact-only-with-cryptos
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["mancave","hive","proofofbrain","ctp","gems","posh","crypto","curie","leofinance"],"canonical_url":"https://leofinance.io/@filotasriza3/do-you-use-specific-crypto-exchange-to-swap-to-fiat-or-you-transact-only-with-cryptos","links":["https://www.coinhouse.com/wp-content/uploads/2019/09/Masternode.jpeg","https://giphy.com/gifs/real-and-true-WJ4vstB0EVqla","https://giphy.com/gifs/bitcoin-btc-cintre-4hQYt88gme8CVqJrDF","https://giphy.com/gifs/crypto-nft-cryptoart-QnU6mOrBbElaIQz4Fe"],"image":["https://images.hive.blog/DQmQDnHBm5aanqijDAdiMoYC53NpQg8X4CnrmpyFSJwoE7v/image.png","https://media.giphy.com/media/WJ4vstB0EVqla/giphy.gif","https://media.giphy.com/media/4hQYt88gme8CVqJrDF/giphy.gif","https://media.giphy.com/media/QnU6mOrBbElaIQz4Fe/giphy.gif"]}
created2022-11-12 15:51:24
last_update2022-11-12 15:51:24
depth0
children4
last_payout2022-11-19 15:51:24
cashout_time1969-12-31 23:59:59
total_payout_value5.544 HBD
curator_payout_value5.508 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length3,320
author_reputation193,006,617,729,128
root_title"Do you use Specific Crypto Exchange to swap to Fiat or you Transact only with Cryptos?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id118,279,923
net_rshares24,955,971,121,829
author_curate_reward""
vote details (229)
@poshtoken ·
https://twitter.com/1332616841609482241/status/1591458937588645890
<sub> The rewards earned on this comment will go directly to the people( @filotasriza3 ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.</sub>
properties (22)
authorposhtoken
permlinkre-filotasriza3-do-you-use-specific-crypto-exchange-to-swap-to-fia-1264
categoryhive-167922
json_metadata"{"app":"Poshtoken 0.0.1","payoutToUser":["filotasriza3"]}"
created2022-11-12 15:56:27
last_update2022-11-12 15:56:27
depth1
children0
last_payout2022-11-19 15:56:27
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length271
author_reputation5,627,839,732,503,543
root_title"Do you use Specific Crypto Exchange to swap to Fiat or you Transact only with Cryptos?"
beneficiaries
0.
accountreward.app
weight10,000
max_accepted_payout1,000,000.000 HBD
percent_hbd0
post_id118,280,012
net_rshares0
@travelwritemoney ·
RE: Do you use Specific Crypto Exchange to swap to Fiat or you Transact only with Cryptos?
I'll be buying stablecoin from exchanges, moving that to wallets. And, I'll be converting the stablecoin to wrapped versions of other cryptos using DeFi. 

But, for the moment, HBD Savings has the best and lowest risk return on stablecoins. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@travelwritemoney/re-filotasriza3-5zg4ue)
👍  
properties (23)
authortravelwritemoney
permlinkre-filotasriza3-5zg4ue
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["leofinance"],"canonical_url":"https://leofinance.io/@travelwritemoney/re-filotasriza3-5zg4ue"}
created2022-11-12 16:20:00
last_update2022-11-12 16:20:00
depth1
children2
last_payout2022-11-19 16:20:00
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length348
author_reputation25,948,839,290,189
root_title"Do you use Specific Crypto Exchange to swap to Fiat or you Transact only with Cryptos?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id118,280,657
net_rshares0
author_curate_reward""
vote details (1)
@filotasriza3 ·
RE: RE: Do you use Specific Crypto Exchange to swap to Fiat or you Transact only with Cryptos?
>I'll be buying stablecoin from exchanges, moving that to wallets. And, I'll be converting the stablecoin to wrapped versions of other cryptos using DeFi.

ah that's smart!

>But, for the moment, HBD Savings has the best and lowest risk return on stablecoins.

yeah totally agree, any hbd that i earn from my post is transferred right away to my savings! 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@filotasriza3/re-travelwritemoney-2tn1rt)
👍  
properties (23)
authorfilotasriza3
permlinkre-travelwritemoney-2tn1rt
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["leofinance"],"canonical_url":"https://leofinance.io/@filotasriza3/re-travelwritemoney-2tn1rt"}
created2022-11-20 22:35:39
last_update2022-11-20 22:35:39
depth2
children1
last_payout2022-11-27 22:35:39
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length462
author_reputation193,006,617,729,128
root_title"Do you use Specific Crypto Exchange to swap to Fiat or you Transact only with Cryptos?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id118,490,613
net_rshares4,799,640,984
author_curate_reward""
vote details (1)
@travelwritemoney ·
I never imagined I'd be excited about stablecoins. 
properties (22)
authortravelwritemoney
permlinkre-filotasriza3-rlo65h
categoryhive-167922
json_metadata{"tags":["hive-167922"],"app":"peakd/2022.11.1"}
created2022-11-20 23:20:06
last_update2022-11-20 23:20:06
depth3
children0
last_payout2022-11-27 23:20:06
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length51
author_reputation25,948,839,290,189
root_title"Do you use Specific Crypto Exchange to swap to Fiat or you Transact only with Cryptos?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id118,491,538
net_rshares0