Fiat money is legal tender whose value is tied to a government-issued currency, like the U.S. dollar, while cryptocurrency is a digital asset that derives its value from its native blockchain .
Read moreIs cryptocurrency better than fiat?
Investors buy these cryptocurrencies through exchange platforms for normal or FIAT currencies. Many investors claim that cryptocurrencies are much more beneficial than FIAT currencies . These claims can be true since the cryptocurrencies provide more perks where FIAT currencies are just beneficial when you own it.
Read moreIs cryptocurrency a fiat currency?
The term fiat currency is commonly used to distinguish regular money from cryptocurrency , a digital payment form that can exist without a central bank.
Read moreAre fiat currencies backed by commodities like gold Phemex?
Fiat currency is any money issued by a government or central bank and not backed by a commodity such as gold . Fiat currencies derive their value from the trustworthiness and stability of the governments supporting them, along with the laws of supply and demand.
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