Cryptocurrency enthusiasts, have you heard the term "fiat" thrown around but not sure what it means? Let's break it down!
Fiat money, also known as fiduciary money, is currency issued by a government and backed by the government's trust and legal system. Basically, it's the physical cash and coins you use daily, as well as the digital funds in your bank account, debit cards, and wallets.
As long as the funds are denominated in a government's currency, they are considered fiat money. And if you're looking to swap between fiat and crypto, check out ChangeNOW's exchanger!
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