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What Fiat is in the World of Cryptocurrency
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[QUOTE="Jasz, post: 211192, member: 61772"] 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. [/QUOTE]
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What Fiat is in the World of Cryptocurrency
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