What Fiat is in the World of Cryptocurrency

[Jasz]

What exactly is Fiat? Fiat currency is a currency issued by the government which is not backed by a visible commodity, such as gold or silver, but rather by the government that issued it. Its value is derived from the relationship between supply and demand unlike the value of the material that the money is made of.

Fiat currencies are the types of currency we use in real life, like the U.S. dollar or Euro. The government determines the value of a fiat currency based on a variety of complex factors. Fiat crypto refers to a crypto exchange that allows you to buy, sell and trade tokens using fiat as well as cryptocurrencies.

Fiat currencies, including national equivalents such as the U.S. dollar, Canadian dollar, British pound or Swiss franc, are legal tender in the country of issue and therefore have value.

You can purchase any crypto or coin using fiat. Fiat can also be affected by inflation though, they are more stable than another based on the economic stability of the country owning the fiat. Fiat is highly useful in the world of crypto currency as it's not enough just exchanging crypto currencies without having any, you may have to purchase some using fiat before you can trade or carry out any transaction.

 

[DominionAJ]

Fiat is very essential to the crypto space for now, because whenever you’re buying a coin you have to use fiat to buy them, even if you’re buying a coin with USDT you will still have to buy the USDT with Fiat.

 

[ImamShaheb]

What exactly is Fiat? Fiat currency is a currency issued by the government which is not backed by a visible commodity, such as gold or silver, but rather by the government that issued it. Its value is derived from the relationship between supply and demand unlike the value of the material that the money is made of.

Fiat currencies are the types of currency we use in real life, like the U.S. dollar or Euro. The government determines the value of a fiat currency based on a variety of complex factors. Fiat crypto refers to a crypto exchange that allows you to buy, sell and trade tokens using fiat as well as cryptocurrencies.

Fiat currencies, including national equivalents such as the U.S. dollar, Canadian dollar, British pound or Swiss franc, are legal tender in the country of issue and therefore have value.

You can purchase any crypto or coin using fiat. Fiat can also be affected by inflation though, they are more stable than another based on the economic stability of the country owning the fiat. Fiat is highly useful in the world of crypto currency as it's not enough just exchanging crypto currencies without having any, you may have to purchase some using fiat before you can trade or carry out any transaction.

Yeah, well analyzed!
That's why Exchanges support Fiat! Even, you can see a separate category at coin market where you'll be able to see how many fiat is supported by a certain exchange ya,just like this one~

 

[ImamShaheb]

Fiat is very essential to the crypto space for now, because whenever you’re buying a coin you have to use fiat to buy them, even if you’re buying a coin with USDT you will still have to buy the USDT with Fiat.

That can be solved if a country accepts/adopts crypto properly just like El-Salvador is doing imho!

In my opinion, that's(Mass Adoption)the ultimate goal of, Bitget,Nance,Kucoin...

 

[GeneralEth]

All i see for now is that both FIAT and Cryptocurrency are intertwined! One of its most significant advantages is the regulation of fiat by the government. They differ in that token money is a limited legal tender. The adoption of token money has improved transaction efficiency, as the practically of transacting with sums of gold poses a larger security risk. And whenever you're buying any coin like btc, eth, sol I make use of NDAX, Bitget, Paxfull and ultimately fiat is still used for the payment to buy.

 

[Maxicreed]

What exactly is Fiat? Fiat currency is a currency issued by the government which is not backed by a visible commodity, such as gold or silver, but rather by the government that issued it. Its value is derived from the relationship between supply and demand unlike the value of the material that the money is made of.

Fiat currencies are the types of currency we use in real life, like the U.S. dollar or Euro. The government determines the value of a fiat currency based on a variety of complex factors. Fiat crypto refers to a crypto exchange that allows you to buy, sell and trade tokens using fiat as well as cryptocurrencies.

Fiat currencies, including national equivalents such as the U.S. dollar, Canadian dollar, British pound or Swiss franc, are legal tender in the country of issue and therefore have value.

You can purchase any crypto or coin using fiat. Fiat can also be affected by inflation though, they are more stable than another based on the economic stability of the country owning the fiat. Fiat is highly useful in the world of crypto currency as it's not enough just exchanging crypto currencies without having any, you may have to purchase some using fiat before you can trade or carry out any transaction.

You are on point and tbh this piece of writing will be relevant for noobs. Without fiat we may not have value for our darling crypto. The monetary value of crypto is because we can exchange for fiat and spend it in real life scenario.

 

[Maxicreed]

Yeah, well analyzed!
That's why Exchanges support Fiat! Even, you can see a separate category at coin market where you'll be able to see how many fiat is supported by a certain exchange ya,just like this one~ View attachment 59169

Yeah, I think Bitget and Binance are one of the few exchanges that support a wide range of fiat currency.

 

[ImamShaheb]

All i see for now is that both FIAT and Cryptocurrency are intertwined! One of its most significant advantages is the regulation of fiat by the government. They differ in that token money is a limited legal tender. The adoption of token money has improved transaction efficiency, as the practically of transacting with sums of gold poses a larger security risk. And whenever you're buying any coin like btc, eth, sol I make use of NDAX, Bitget, Paxfull and ultimately fiat is still used for the payment to buy.

Exactly,even CEXs are frequently adding FIAT to increase their userbase!

 

[ImamShaheb]

Yeah, I think Bitget and Binance are one of the few exchanges that support a wide range of fiat currency.

But nance is being declined over several countries & by SEC as well, while Bitget isn't!

 

[DominionAJ]

That can be solved if a country accepts/adopts crypto properly just like El-Salvador is doing imho!

In my opinion, that's(Mass Adoption)the ultimate goal of, Bitget,Nance,Kucoin...

Yes that’s true actually and that’s why I said for now Fiat is still important, until all countries decide to adopt it fully.

 

[ImamShaheb]

Yes that’s true actually and that’s why I said for now Fiat is still important, until all countries decide to adopt it fully.

I think somehow SEC won't gonna make that happen this soon!

 

[DominionAJ]

I think somehow SEC won't gonna make that happen this soon!

But sooner or later we will get there, crypto is definitely going to get the recognition it deserves.