We know that fiat money is the most widely accepted medium of exchange for goods and services. However, cryptocurrency is also a medium of exchange that has seen quite a lot of traction from businesses accepting payments with crypto.
Some of them include Microsoft, Etsy, PayPal, and Starbucks! Some governments, like El Salvador’s, have even passed laws making bitcoin legal tender in their state!
In this video, we’ll explain the similarities and differences between fiat money and cryptocurrency and explore whether crypto will, in fact, replace fiat in the near future.
Timestamps:
00:00 Intro
00:51 Medium of Exchange
01:19 Store of Value
01:58 Unit of Account
02:30 Control
03:16 Outro
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#fiat #crypto #decentralized #finance #blockchain #cryptocurrency
6 Comments
I'm new to trading, how can I make more profitable investment in crypto as crypto is being dormant now
Bitcoin mining/transactions are on the cusp of being banned in USA as they go into Winter with an energy crisis. Biden is doubling down on the coming ban. Also there's talk IRS/SEC are coming for Bitcoin's Lightning Network transactions, which will cause people to lose money of frozen transfers in the LN pool-blocks. Avoid using Lightning in transfers till further notice !!!
#TeamCrypto, please gather here! 🙌🏻
🇺🇸When it comes👆👆to investing, we want
our money to grow with the highest
rates of return, and the lowest risk
possible. While there are no shortcuts
to getting rich, but there are smart
ways to go about it, you are the mate🤝.…
🇺🇸When it comes👆👆to investing, we want
our money to grow with the highest
rates of return, and the lowest risk
possible. While there are no shortcuts
to getting rich, but there are smart
ways to go about it, you are the mate🤝.…
Love the effort!