Is Fiat exclusive only to cryptocurrency?

[Starmix]

The answer is no, and I am so sure that all of you here, crypto lovers, know about this term, Fiat. Fiat currency is not exclusive to crypto. Fiat currency existed long before cryptocurrencies were created.

Cryptocurrencies were created as an alternative to traditional fiat currencies, offering features such as decentralization, transparency, and potentially faster and cheaper transactions.

Fiat is a government-issued currency that has existed for a long time. Cryptocurrencies are often traded against each other on exchanges, and fiat currencies serve as on-ramps and off-ramps for the crypto market.

 

[Fire&Rain]

fiat has been around long before crypto. Cryptocurrencies came as an alternative, offering decentralization and more transparency, but fiat is still the standard for most everyday transactions. It also acts as a bridge for crypto trading, letting people enter or exit the market. Understanding the difference between fiat and crypto is key for anyone looking to navigate both worlds effectively.

 

[Starmix]

Indeed, fat has been in each other's country for so long, as in my country, the Ph peso was designed and approved by the Central Bank after the Philippines declared its independence.