Cryptocurrency vs. Fiat currency.

[Eugenar]

Both are important and have a different use for me. Cryyptocurrency and Fiat shouldn't be compared to each other on which is better considering that, the one is for online and the one is for real-life transactions. Both are helping us to make our life easier so we should appreciate and use these two to maximize their purpose.

Here are example on how I use cryptocurrency and Fiat:

Cryptocurrency:

• I use bitcoin for online transaction, or XRP for instant
• For investment
• For trading
• I am using it as a mode of payment through online stores

Fiat:

• For micro-transactions
• Investing also
• Real-lfe transactions
• For daily use

Well said mate, but I am just trying to get some opinions of some people here about their thoughts about the cryptocurrency and the fiat currency because I have read some posts here saying that they want to make bitcoins or other cryptocurrencies as part of our real-life transactions. So it made me realized about creating this topic if there are so many people here that think about that way, but upon reading your post, it also made me realized that both currencies are not supposed to be compared, they are both different things, they have different purposes, cryptocurrency is for online world, while the other one is for the real world.

[cryptoangel]

Both are important and have a different use for me. Cryyptocurrency and Fiat shouldn't be compared to each other on which is better considering that, the one is for online and the one is for real-life transactions. Both are helping us to make our life easier so we should appreciate and use these two to maximize their purpose.

Here are example on how I use cryptocurrency and Fiat:

Cryptocurrency:

• I use bitcoin for online transaction, or XRP for instant
• For investment
• For trading
• I am using it as a mode of payment through online stores

Fiat:

• For micro-transactions
• Investing also
• Real-lfe transactions
• For daily use

The current economy is depends on both fiat and cryptocurrency so both are important in day to day life. But everyone concentrate the future update so crypto will occupy more percentage compared to fiat because every year all are updating new uptrend so crypto will occupy peoples day to day life. Maybe next 5 years fiat will control the economy but after that crypto will rule the entire world. I think some stable Crypto will lead the future days so finally crypto is better platform.

[XenoFever]

I prefer to use cryptocurrency more than fiat because is faster, safer and with the recent spread of the deadly coronavirus you can be rest assured that the use of fiat currencies has several disadvantages. I can't use cryptocurrencies that much for any transaction because it's barely used in my country but i believe in the near future cryptocurrencies would take over the payment system.

Well said mate, the transaction with cryptocurrency is much safer, less hassle, and faster compared to the fiat currency because the deal happens online, so there is no traffic that you may encounter, only connection or slow internet connectivity can be causes of the delay transactions.

Speaking of coronavirus or other viruses that our world may encounter, cryptocurrency would also be better because you don't need to go outside anymore when you are going to pay bills and other transactions that you may have. There are a lot of workers that may be affected when coronavirus happened, there are a lot of people whos afraid of going outside to work on a company because of the virus.

[Krislaw]

Both of these currencies need each other. We need fiat whenever we want to purchase bitcoin and we also spend fiat every day. Not every physical shops accepts crypto as payment.
Binance which is also a big exchange has fiat deposit and withdrawal in it.
TBH, most people hold crypto just to make profit, they don't really use it as payment. They would rather use credit card.

[Abiky]

Cryptocurrency vs. Fiat currency, which of the two do you think better? There so many differences between those two kinds of currency, but what currency do you prefer more, what currency suits your wants and needs,

First things first, let us define the two currencies. Cryptocurrency is all the money we have online, it is decentralized and global, it can be bitcoin, etheruem, litecoin, XRP, and many others. which is a currency that is volatile, which means it changes its price day by day, there is no static price to all of it, so it is outstanding in investing and trading in cryptocurrency and patience is what you only need here. While Fiat currencies are those physical currencies that you can touch and use to buy in real life, such as Pesos, dollars, etc. those are what we called the central government, which has a fixed price at all.

Personally, I prefer cryptocurrency over Fiat because of its decentralized and censorship-resistant design. No one can confiscate your assets, freeze your account, or even take ownership/control of your account. You are the sole owner of your funds where can spend or hoard it at will. While price volatility is an issue, crypto is a great medium of exchange when used directly from one person to another. Remember, 1 Bitcoin = 1 Bitcoin no matter what. Prices only reflect how much a coin is worth in terms of Fiat. If everyone relied on crypto entirely instead of cashing out to their national currency, prices wouldn't be much of an issue for daily payments.

When you compare crypto against Fiat, you'll notice that it's much faster and cheaper to send across borders. Money transmitting services like Western Union and MoneyGram charge high fees in Fiat for sending money across the globe. It takes a couple of days before the money is received by the recipient (and cleared by the Bank). The same happens with Bank-to-Bank transfers in the mainstream world. Even though Bitcoin had high fees and slow transaction confirmation times back in 2017, it was still faster and cheaper to use than traditional payment processors. Now, with scalability improvements being worked on by Blockchain developers, Bitcoin and other cryptocurrencies can become even faster and cheaper to use than Fiat.

Despite crypto's benefits over Fiat, it has a big drawback that limits its usage and adoption worldwide. And that is the lack of merchant acceptance. The reason for this is the price volatility of crypto versus Fiat. Merchants do not want to deal with something that's unstable in price as it could lead to many undesired losses. Because of this, Fiat has been the norm of everyday commerce and will always be until crypto manages to have a stable price across the market. Mainstream businesses and stores have greater chances of profiting with Fiat than doing so with crypto directly. Rest assured that both types of currencies (crypto and Fiat) won't be able to replace each other. That's because Fiat is backed by the government, whereas crypto is not. This makes them completely different from one another. Each person will use either crypto or Fiat depending on his/her preferences or needs.

In the end, both crypto and Fiat will survive as different types of "money" for mainstream use. Each have their respective advantages and disadvantages. To be honest with you, neither one is better since each has their flaws and respective use cases for the mainstream world. If you prefer complete control of your money at the cost of price volatility, then crypto is ideal for you. Otherwise, you're better off with Fiat if you're looking for a stable currency that's backed and supported by thousands of merchants around the world. Just my thoughts

[TheUltraElite]

And we will see everyone who will upgrade their daily living because they held bitcoin in the past. That's the reason why we all like it and believes in it.

You are optimistic about the future of bitcoin holders. It's good but also consider other methods too.

We like bitcoin because we use it. But we should also know where fiat is applicable and where bitcoin can be used. It does not mean one is better than th other but it is important to differentiate between usage.

You would use fiat for daily necessities and keep bitcoin as a method of investment like a commodity.

[maybukaspa]

Fiat is the one acknowledged by majority. Even if you have gold, you'll convert it into fiat because fiat is the primary currency used all over the world. Crypto can be converted into fiat also or you can use it to invest.

[nosferzd]

At the moment, I can not allocate either cryptocurrencies or fiat money, because they are equally useful in their field of activity. As they say, for a crypt you will not buy products in the store. Although I still think that in 5-10 years, cryptocurrencies will largely replace fiat money.

[charlie137]

thats a tricky question because both could be centralized

[Eugenar]

Both are important and have a different use for me. Cryyptocurrency and Fiat shouldn't be compared to each other on which is better considering that, the one is for online and the one is for real-life transactions. Both are helping us to make our life easier so we should appreciate and use these two to maximize their purpose.

Here are example on how I use cryptocurrency and Fiat:

Cryptocurrency:

• I use bitcoin for online transaction, or XRP for instant
• For investment
• For trading
• I am using it as a mode of payment through online stores

Fiat:

• For micro-transactions
• Investing also
• Real-lfe transactions
• For daily use

Well said mate, I've realized that both cryptocurrency and fiat currency are different thing, they have different purposes so they shouldn't be compared, fiat currency is for real life purposes and for daily use like purchasing anything you want while cryptocurrencty is for online transactions like purchasing movies, software, pay bills, etc.

[HardFacts]

Cryptocurrency vs. Fiat currency, which of the two do you think better?

You would have to be an UTTER FOOL to trust either Fiat or BitCoin in this Economic Crisis....  BitCoin's price crash in its first ECONOMIC CRISIS should have you all very, very worried.

Hard Facts

[Kurokonobasuke]

For me, the two different currencies are both better, because the fiat currencies can easily use when we but some stuffs in stores and all people whether if it is rich or poor are have also a fiat currencies, while the crypto currency is for only online transactions like in gambling, trading and etc., and it only have for people who has a knowledge about crypto currency. Both currencies has likes and dislike base on the situation.

[Sircoss]

Cryptocurrencies win this competition because you can not only store, but also earn.

[tbterryboy]

They are both good and you already said it that they have their own differences. I haven’t used Bitcoin to make any purchase before , it has always been fiat that I’m using anytime I want to make purchase; when I’m buying things online I make payments using PayPal or I just pay with my card.

As for Bitcoin the only thing I have been doing with it is just transaction and it has been between me and people that are making use of it, which there isn’t much people that I know that are making use of it. And another thing is that you can’t leave your money in a cryptocurrency wallet if you’re afraid of losing it, though the price can go up as well.

[HardFacts]

Cryyptocurrency and Fiat shouldn't be compared to each other on which is better considering that, the one is for online and the one is for real-life transactions.

HOW UTTERLY STUPID...  One of the dumbest things I have seen posted in a while.

US Dollars are used for 99.99 % of online transactions, yet the author totally ignores this fact 

CRYPTO VS FIAT:  This is easy,  Crypto can crash a huge amount in a day, US Dollars do not and are stable enough to use in real business...

Hard Facts

[Abiky]

You are optimistic about the future of bitcoin holders. It's good but also consider other methods too.

We like bitcoin because we use it. But we should also know where fiat is applicable and where bitcoin can be used. It does not mean one is better than th other but it is important to differentiate between usage.

You would use fiat for daily necessities and keep bitcoin as a method of investment like a commodity.

That's certainly true, mate. Cryptocurrencies like Bitcoin and Ethereum cannot be used for everything, as not everyone accepts them as a medium of exchange. For most people, Fiat is the currency of choice for day-to-day payments because it's backed by the government (not to mention that it's stable in price). Thousands of merchants and businesses around the world accept Fiat, while that's not the case with crypto today. However, there are cases where crypto is necessary when you want to achieve true sovereignty over your money. If you're worried about governments confiscating your assets, banks freezing your accounts, or any other undesired events, crypto is the way to go. Depending on the scenario or situation you're dealing with, will be the currency to use for payments in the mainstream world.

Neither Fiat is better than crypto or vice versa. Comparing them, is comparing Apples vs Oranges. After all, volatile prices of crypto prevents anyone from using it as a currency for day-to-day transactions. It's more like a long-term investment than anything else. That is until prices become stable and crypto becomes scalable for the whole world to use. Once that happens, people will use crypto as they would with ordinary Fiat. Despite this, I believe that both ends (crypto and Fiat) will co-exist alongside each other for many years to come. The same way people still use precious metals like Gold and Silver as alternatives to Fiat, the same will apply to crypto. After all, this is part of the worldwide economy. Just my thoughts

[Sadlife]

In my perspective the only advantage that Fiat has, is it can be used for offline transactions for example if a user has no internet or electricity Cash is useful.
But in terms of security, anonymity, decentralization and doesn't require personal data, safe from germs and fast sending & receiving money, without questions ask.
Easily and conveniently in usage with only a wallet needed to send huge amounts.

[lattyy]

Cryptocurrency can't be used in our daily life. But we can invest in it and when making a profit, we can cash it out to fiat.

[Kurokonobasuke]

Cryptocurrency vs. Fiat currency, which of the two do you think better? There so many differences between those two kinds of currency, but what currency do you prefer more, what currency suits your wants and needs,

This past months the world are suffering in the crisis, because it has a virus that spreads throughout the world. This virus called Coronavirus known as COVID-19, this virus are easily transfer through cough and touching things, so that the fiat currencies is the other reasons why the virus are spreading. Other countries are just avoid on using fiat currencies just to prevent of the virus on spreading it. This time I must go with the crypto currencies just to prevent of passing the virus by touching the fiat currencies. Crypto currencies are can also used with some stores that has an online transaction and used it as a medium in paying money.

[odb36]

The problem with fiat currencies is that they don't have a supply limit. You can see that the central banks have printed trillions of dollars already. This will flood the markets with new money. People and corporations will get free money. However, the problem is the more something is available the less valuable it is. So, if the central banks continue to abuse their money printers, soon we'll all become millionaires. We'll have 10's of millions of dollars, but the problem will be we won't be able to buy much with a million dollars. They will be enough only for a single grocery shopping.

On the other side is Bitcoin. It has a strictly limited supply which no body can inflate. This way Bitcoin is scarce, and you know scarce things are more valuable than abundant ones.

So, with the current situation, we need to turn our fiat currencies to Bitcoin. The rest of the alt coins are too small with much worse security and are often centrally controlled. In one word they're too risky! So keep your money in Bitcoin!