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What Gives a Fiat Wallet Value?

In a word, liquidity. Without a fiat wallet, it can take several business days to complete a bank deposit. This causes trouble for the user in some circumstances:

  • You want to buy or sell cryptos fast during price corrections
  • You want to avoid the worst effects of cryptocurrency volatility

If, for example, your crypto assets drop steeply in value overnight, you may have to wait about 3 business days for your fiat currency to be deposited. This is sometimes fine, but in this scenario, you would certainly lose out on an opportunity to buy at an advantageous price. If you had a fiat wallet, however, the transaction would be instantaneous, and you would be able to benefit immensely from the speed.

This describes a situation many crypto traders and investors find themselves in from time to time. However, the benefits provided by such speed can be applied in a wide variety of situations. Speed very often equals greater profit in the cryptocurrency market, and sluggish transactions can be very costly.