I have been analyzing crypto market for a very long time . I have noticed something which i want to share with you guys on steemit . If there's one thing I've noticed in the last 4 months (is it really that short a time ? - feels like years) that's how cdrypto world is , is that there is virtually NO information about getting crypto BACK into FIAT again, should you decided to take some gains ( you lucky lucky person in this current market ). Isn't it a major problem lot of people aren't talking about yet ? Where are we supposed to book our profits ?
When I made some profit early on in my experiments in cryptocurrency trading, I had to search high and low to find anything related to actually getting FIAT from gains.
It was a lot of trouble finding out the fiat gateways .
I eventually stumbled across a YouTube video - not going to post the link, as it pertains to a specific geolocation and probably isn't pertinent to most investors here.
That video explained quite clearly how to get money back out again with the minimum amount of fees.
However, this is a huge and complicated topic that is so seldom covered - it's like "it's your problem, nobody wants to talk about this".
Fair enough, but when the time comes, if you get lucky, you will have to face the minefield that luck brings - nice problem to have.
Taxes, bank regulations, audits - "where did you get this large sum of money?", having to upgrade trading accounts should you be lucky enough to really hit some major profits.
It's like the unwelcome side of this game, that nobody really wants to cover, the dirty little secret - "ew, FIAT, we're all into crypto here!"
I liked the idea behind localbitcoins . I wonder when a large amount of traders would start using localbitcoin .
This would make fiat exchange much eases and comfortable for a lot of us .
Seriously, we all want cryptocurrency to change the world order, to rid ourselves of middlemen reaping huge rewards, but for the foreseeable future, FIAT reigns supreme - and if you have dreams of paying off your mortgage, sending your kids to university, buying a flash car, or never having to work again - at some point, you are going to have to figure out the best way of getting your investment back out again.
Lets hope for a better future in coming years . Till then keep Hodling .
Follow , like , comment , resteem would be appreciated .
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