09/11/2020
FIAT CURRENCY VS CRYPTOCURRENCY
What is a Fiat currency?
Fiat currency, which is present day's Cash currency, is a paper or a metal bill (Note or coin) whose value is backed by the government that issued it. It is a Centralized system of money. A fiat currency is not backed by a commodity.
What is Cryptocurrency?
Cryptocurrency, which is a purely digital and decentralized system of money, is a currency that works peer to peer, and no government or central authority is involved in controlling it. A cryptocurrency, like fiat currency, is not backed by a commodity as well.