Fiat in crypto simply refers to government-issued currency. It can also be called “legal tender.” Cryptocurrencies are not backed by governments, so the term “fiat” is used to describe them. When someone says “fiat in crypto,” they are referring to the fact that most cryptocurrencies are not backed by a government-issued currency. What does fiat […]
What Is A Fiat Currency In Crypto
A fiat currency is a currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat currencies is determined by the faith of the people who use them. Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and to control […]
Read Time:
16 Min
0
0