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What's the difference between cryptocurrency and fiat currency?

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  Cryptocurrencies share many similarities with conventional fiat money, but also offer some interesting advantages. -Both can be used for payments and as a store of value -Both rely on widespread consumer trust in order to function as a means of exchange -Fiat money is issued and controlled by (central) banks and governments -Bitcoin is produced and distributed through a process called mining and is not controlled by a centralized authority -Bitcoin can be trusted because it is tamper-proof and cannot be spent twice -A Bitcoin transaction cannot be reversed, cancelled or charged back. In this lesson, you will learn the difference between cryptocurrencies and fiat money. Cryptocurrencies and conventional currencies have two essential features: they enable frictionless payments between two parties and act as a store of value. While trust vested in  fiat currencies  is ensured through the money supply issued by a central authority, the trust vested in cryptocurrencies is fo...
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The beginnings of money and the importance of trust

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  Before we dive into the world of cryptocurrencies, let us take a step back and learn some basics about the concept of money. Money is everything that can be used as a medium of exchange Money had many different forms throughout human history Before the invention of money, people used barter systems (though newer research suggests that  money developed after the invention of debt ) Bitcoin  is the biggest financial innovation since the introduction of credit cards in the 1950s and the dawn of online banking in the late 1990s In this lesson, you will learn the fundamentals of money. W hat is money? People have been exchanging things with each other since the dawn of humankind. First there were barter systems. People exchanged items that they attributed equal intrinsic value to, as in “I give you this animal hide and you give me that sharp stone you found.” This system works quite well for exchanges between two people, but is usually too complex as soon as more people, mor...
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Cryptocurrency VS Fiat? Which is better....

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  Fiat currency the same as "paper money" is the countries legal way of exchange of value in the internal economy of a nation also the money is regulated and managed by Central Bank, this currency isn't backed up by any physical asset such as Silver or Gold. This money is backed up in each country's law and defined only by trust. Also to mention that is centralized and the government have power over it, this kind of money isn't free from inflation and the authorities can print anytime they want. For congruency we will select Bitcoin cash in other hand have features that definitely make it better than Fiat not to mention that is an asset free of inflation and have only 21M of coins available to be mined over the years but not only that, let's just analyze more of this ecosystem: low storage and transfer cost the division allow small transactions it's global it cannot be confiscated by government authorities the transactions are on really time impossible to ...
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