Fiat Money vs. Cryptocurrencies

[Ms.o 3322]

Cryptocurrencies are becoming a global phenomenon amidst talk that they could replace fiat currencies in the near future. Cryptocurrencies adoption continues to gain momentum in part because of the world’s progression towards a cashless society.

[teminalibug 309]

3 minutes ago, Jonayeed said:

I think Fiat money (or fiat currency) is currency that a government has declared to be legal tender. Cryptocurrency is not legal tender and not backed by a government

Yes it is not backed by the government but also it can  not be touched by the government, that is why government have left with only one choice, to regulate it.

[CryptoMaxim 3829]

With the help of cryptocurrency there is an opportunity to earn but it does not make sense to compare these two assets. They are different.

[Naylor89 1223]

I'm learning that myself, as all value in this world is subjective, and have found some good ways to prove it. however, we all use fiat money, but I'm sure this is coming to end.

[mani982 286]

39 minutes ago, Imran jameel said:

From both of these i like crypto. Because i have all knowledge and trading skills of crypto. Fiat is also good but i do not have any experience about Fiat. In Fiat market we can earn profit on daily basis if we have trading skills but in crypto we can earn more than crypto when bull run come. 

Fiat Money is also work like as crypto and we can also trade inFiat market with bitcoin.Crypto market is decentralized platform .in crypto there are too many coin in which we can trade.

[Delgboke 2480]

On 10/13/2019 at 6:42 AM, starwill said:

Fiat money and cryptocurrencies have in common the fact that they are not backed by physical merchandise - but that is the only thing they share. While fiat money is controlled by governments and central banks, cryptocurrencies are essentially decentralized, largely thanks to a digital accounting book (ledger) called Blockchain.

Another notable difference between these two monetary systems is the way in which the currency is issued. Bitcoin, like most cryptocurrencies, has a controlled and limited monetary mass - unlike fiat money that can basically be created from nowhere by banks, according to what they consider the economic needs of the nation.

As a digital form of money, cryptocurrencies do not have a physical counterpart or are limited by borders, which favors their ability to be used in international transactions. In addition, transactions are irreversible, and the particular nature of cryptocurrencies makes them more difficult to track than fiat money.

It should be noted that the cryptocurrency market is much smaller and, therefore, much more volatile than traditional markets - this is one of the reasons why cryptocurrencies have not yet been universally accepted, although as the economy "Crypto" grows and matures, volatility will probably decrease.

The important thing to not about fiat currency is that individuals don't have illegal right to print fiat currency it's only controlled by the government, is not like cryptocurrency project that anybody can just start to develop it's own project without any obstacles. 

[Soaib khan 1035]

both are good from those site if want to store money without taking risk you can use flat currency and if you have knowledge you can work crypto

[Amir Vao 341]

Fiat money means that paper money and cryptourrencies means online money. There is a lot of problems with fiat money. We need extra space to hold this money and it's transaction not safe. On the otherside crypto don't need any space to carry. And it's transaction safe and secure.

[pakjobhelp 1585]

Crypto currency used more then other paper currency at high level the crypto currency is considered more secure in the case of other currency. In this way the most peoples used and store crypto currency for long term benefits and main feature of crypto currency is transfer every country without paying custom fee and other charges.

[mrking049 260]

I am using both currencies .  Both currencies is necessary for me. We should choose the cryptocurrency first. Fiat money now become useless because of cryptocurrency. Fiat currency now most uses in real life.

[rajonmia 181]

Fiat money (or fiat currency) is currency that a government has declared to be legal tender. Cryptocurrency is not legal tender and not backed by a government. Fiat roughly means, “let it be done.” Cryptocurrency implies, “a decentralized and digital medium of exchange governed by cryptography.”

[SuperCrypto 7193]

There are widespread popular confessions of bitcoin and it is greatly supported by most people because it is decentralized and cannot be controlled, unlike currencies that may be issued by central banks or the private sector, as does JPMorgan.

[mani982 286]

I do not have much information about Fiat Money and about Fiat market.I am working in crypto market from last three years.I have Good knowledge about Cryptocurrencies.

[mrking049 260]

There are alot of currencies in the market. Digital currencies and fiat currencies different currencies. I think these two currencies are very important, they are equally used to make payments and other transactions, but I think crypto is a digital currency that not all countries can accept.

[Gusion 321]

Cryptocurrencies provides a transparency feature wherein there is a technology called blockchain that provides a decentralized transaction. As of now I don't think the world would consider using it, fiat will still dominate.

[Vanessa 1266]

Fiat money, payment method for exchanging goods and services. Put it in the bank will profit 1 percent in per anmum. Sleeping? Right? The only good thing is that this is widely acceptable.

Bitcoin, a stored value with its votality in nature, can be profitable or you can lose. If accepted, it very easy to use and transact just like cards.

[Ahmedabdallah12 169]

I think crypto is better than fiat as it's easy to trade it and make profit and secure

[pulokdeb 61]

Between Fiat Money and cryptocurrency, I think cryptocurrency is the best we have to put in a lot of problems at times, but there is a lot of hope from cryptocurrency that there will be no problems because I am using it and those who are doing it will understand and be able to say.

[Sohel Rana Sazzad 453]

As far as I know, fiat sight does not pay as soon as I work but it does pay when I work on cryptocurrency.Working at the crypto currency is easy from the first sight.

[sazzad925379 128]

What I like best is cryptocurrency between Fiat Money and cryptocurrency, because earning in crypto currency is very easy and can be earned in a short time.

[ShakilA 373]

Fiat currency and Cryptocurrency both are different in many ways.I think fiat is more than better Cryptocurrency.We can use fiat currency without any restrictions

[Brushless4500KV 4214]

2 hours ago, sazzad925379 said:

What I like best is cryptocurrency between Fiat Money and cryptocurrency, because earning in crypto currency is very easy and can be earned in a short time.

It is not only easier but also faster. There are many methods to earn from cryptocurrency like faucets and airdrops but to earn fiat, you should do more work and earn less. Therefore, the amount of income from cryptocurrency is worth more because you earn more in a shorter time and you don't need any academic degree to start earning crypto.

[altcontact 34]

Fiat or fiduciary money is the usual means of payment, ordinary paper bills, money on our bank cards, which we use daily. They are presented in different forms: paper banknotes; metal coins; non-cash money. The state is engaged in the issue of this money.
Oddly enough, but the fiat type of money is also called unsecured. Why? Yes, because for this money there is currently no provision for either gold or other precious metals. It used to be for each banknote provided for a specific amount of gold. Fiat appeared in circulation as an alternative to commodity-secured currencies. Today, all that fiat holds on to is people's trust and state guarantees. The state has proclaimed that it is legal tender in its territory and citizens are required to obey.
In recent decades, fiat is represented mainly by electronic money - there is no need to print paper banknotes.
Less than 10% of all fiat money is cash. The rest of the money is digital money in bank accounts.
Fiat is a legal tender that the state has recognized as such. - Cryptocurrencies are currently not legal tender in all states. Moreover, the regulators of most countries are still trying to limit them. Fiat money has a physical expression - paper notes. Cryptocurrencies work on the blockchain, exist only in the digital world and have no physical equivalent. Fiat currency for each country is mainly its own and it is issued by the state. Cryptocurrencies are global, decentralized currencies that are mined primarily through mining. There are no geographical or political boundaries for them. Fiat currencies are subject to inflation and may depreciate over time, since their issue is not limited by any framework. Digital currencies most often have a release ceiling. For example, Bitcoin will have a total of 21 million coins. And therefore, their value will only increase over time, and inflation will not threaten these coins. - Large financial institutions are behind fiat currencies. To receive or send money, we use intermediary banks. At the same time, we send cryptocurrencies directly to the recipient - here intermediaries are not needed. This has both its pros and cons. Will bitcoin or other cryptocurrency replace fiat money? Today it is definitely difficult to answer this question. In the near future is likely not a substitute. But over the course of a decade, perhaps there will be a cross between the current electronic fiat and cryptocurrency.

Edited January 13, 2020 by altcontact

[Sumayya 493]

8 hours ago, Zahid Hasan said:

As far as I know, with Fiat, they do not provide visually, but when I work on cryptocurrency, I get the job done first and cryptocurrency is a very easy thing to do.

Cryptocurrency is a very easy thing to do, you send and receive very fast with low fees attached

[Sourav43 106]

I know a lot about cryptocurrency and I work in cryptocurrency. I enjoy working on cryptocurrency. I can make a lot of money from crypto currency.