This coin lets you make quick and cheap transfers while simultaneously converting money from cryptocurrency to
your fiat currency of choice.
But your recipient then has to sell the bitcoin you've sent for
their fiat currency of choice and then withdraw it to their bank account.
Alternatively, you can click on the «Buy & Sell» button on the top menu on the website and select
your fiat currency of choice next to the price chart.
Market participants will be able to convert to
the fiat currency of their choice in real - time, transparently and seamlessly.
In fact, its possible to receive a payout in Bitcoin as a player or an affiliate and convert it instantly into
the fiat currency of choice, meaning you don't even need a Bitcoin wallet or knowledge of how Bitcoin works in order to use it.
Some wallets have other features, such as checking live exchange rates to
your fiat currency of choice or maintaining various coin balances from different blockchains, but we'll cover these in later sections.
The prototype comes with BitPesa built in as a third - party service that will enable the recipient to obtain their funds in
a fiat currency of their choice.
Finally, your recipient can sell the bitcoins on LocalBitcoins for
the fiat currency of their choice.
These websites also let you convert that Bitcoin back to US dollars or
your fiat currency of choice.
Some wallets have other features, such as checking live exchange rates to
your fiat currency of choice or maintaining various coin balances from different blockchains, but we'll cover these in later sections.
The prototype comes with BitPesa built in as a third - party service that will enable the recipient to obtain their funds in
a fiat currency of their choice.
Not exact matches
If they make withdrawals through
fiat currencies not supported by CEX.IO, they could be charged
currency conversion fees by their bank or payment platform
of choice.
They print bills, and auction them off in exchange for dollars, pay their public employees in this
currency (let's ignore the minimum wage), and demand taxes and land payments in this
fiat currency, as well as demand a minimum wage from the companies in their pseudo-governmental system, and generally establish this
fiat legal tender as the
currency of choice for their people, eventually stamping out the dollar.
Customers can fund their account with their
fiat currency and buy the cryptocurrency
of their
choice in one easy step.
If they make withdrawals through
fiat currencies not supported by CEX.IO, they could be charged
currency conversion fees by their bank or payment platform
of choice.
I tell them the citizens
of Greece should have the
choice to use both digital
currencies and
fiat currency.
Although the struggle in the past has been to convince politicians to allow different forms
of money to compete with
fiat currency, Voorhees alluded to the fact that Bitcoin may create a situation where those politicians don't have a
choice in the matter:
The paying party can decide to pay using any major
currency:
fiat (US dollars, Euros or any conventional
currency of his
choice) or cryptocurrency (Ethereum coins, Bitcoin, Litecoin or any other cryptocurrency).
This means that traders provide
fiat, consumers pay with their digital
currency of choice and the merchant receives his or her preferred local
currency (USD, EUR, GDP, etc.) once the payment is completed.
If you are considering investing or trading in this emerging market, you will first have to exchange your
fiat currency for the cryptocurrency
of your
choice.
There is a time lag between buying Bitcoin or Ethereum with
fiat currency and then trading for your altcoin investment
of choice.