Difference between Fiat Currency and Cryptocoins

[ziyush]

Can you point some Difference between Fiat Currency and Cryptocoins?

[ranchi]

Main difference is

Fiat is paper money and Crypto coins are Digital
Fiat money goes down with time crypto coins value increase with time.

[aakriti]

There are so many difference in FIAT and CRYPTO currencies.
Fiat currency is a legal tender which you can pay in exchange of any goods or services in you country or Internationally. Crypto currency in some countries is legal where you can use it same as fiat currency otherwise you can not use it if your country does not allow.

[mpufatzis]

Fiat money is issued by countries and it is supposed to be supported by something (could be gold in older times). It is also recognized by the other countries of the world and is accepted in order to be exchanged in banks. Cryptocurrencies are issued by a number of people (could be one could be many) and have a value if and only if other people accept to use it. If tomorrow people refuse to use a specific crypto it will collapse.

[butcherme]

Can you point some Difference between Fiat Currency and Cryptocoins?

Fiat is a paper money and cryptocurrency is a digital money. Cryptocurrency price is driven by market demand and fiat value is driven by a country's economy and financial position. Cryptocurrency price is volatile and fiat is not. Cryptocurrency is decentralized and fiat is not. Cryptocurrency grows in value over time depending on market demand, while on the other hand fiat losses it's value because of cost of living and price inflation.

[alexzorgo]

Can you point some Difference between Fiat Currency and Cryptocoins?

The most important difference the Fiat Currency and cryptocurrency in a source of issue and control. Fiat - the centralized issue and complete control of the government by the central bank. The original concept of cryptocurrencies - full decentralization: the decentralized issue and absence of the central supervisory authorities.