Fiat currency refers to money that a government has declared as legal tender, but it isn't backed by a physical commodity like gold or silver. Instead, its value is derived from the trust and confidence people have in the issuing government and its economy. But what‘s the difference between fiat currency and cryptocurrency? Here are the key distinctions:1. Centralization vs. DecentralizationFiat Currency: Centralized and controlled by governments and central banks. A single authority manages ...

Fiat currency refers to money that a government has declared as legal tender, but it isn't backed by a physical commodity like gold or silver. Instead, its value is derived from the trust and confidence people have in the issuing government and its economy. But what‘s the difference between fiat currency and cryptocurrency? Here are the key distinctions:1. Centralization vs. DecentralizationFiat Currency: Centralized and controlled by governments and central banks. A single authority manages ...