Crypto vs Fiat

[Alex]

For those who don’t know what the terminology Fiat Means, fiat to its simple terms is the currency that you’re government produces.

Privacy

• Crypto offers privacy over fiat.
• Fiat doesn’t offer privacy, funds can be frozen at a heartbeat and transactions can be traced.

Inflation

• Fiat does have inflation and can hyper inflate as the government prints more to offset inflation. This in turn increases prices as there’s more supply.
• Crypto doesn’t have inflationary effects. Simply goes of supply and demand. Crypto can’t be inflated as it has a price cap.

Therefore crypto is better than fiat currency. What do you think, is crypto or fiat better?

 

[Anachiwo]

With how volatile cryptocurrency is now, it's only stable coin that I can hold now in USDT or BUSD. People are losing millions in cryptocurrency every day now.

 

[saoussen5765]

There is no privacy in crypto anyone could check history of your transaction in litecoin explorer.

 

[Treborika]

I think fiat is the best. It's the genuine and concrete form of money that can be used world wide

 

[Shaffy]

Cryptocurrency is good, but it has a lot of limitations. But so also does fiat currencies. Recently, the Pound and Euro suffered a very significant price dip against the dollar.

Each has it's uses, but if the limitations of crypto can be overcome, it may likely overtake fiat.

 

[oldbuddy]

I will take a second helping please, no matter what flavor you offer.

 

[Mr.Sotherefore]

Both has advantage and disadvantages. Cryptocurrency may be profitable most especially for long-term investment and at the same time it can be risky if the value has to depreciate. Local currency is important too as it help in buying of goods and services offline

 

[oldbuddy]

Both has advantage and disadvantages. Cryptocurrency may be profitable most especially for long-term investment and at the same time it can be risky if the value has to depreciate. Local currency is important too as it help in buying of goods and services offline

You can buy the same goods and services offline with Cryptocurrency by using Gift Cards from BitRefill.com

 

[Kennysplash]

Almost everyone will choose cryptocurrency, especially since there is stable coin. It reduces inflation.

 

[Anachiwo]

I think fiat is the best. It's the genuine and concrete form of money that can be used world wide

You don't have to worry about fiat money being volatile. It's standard, and you can't lose your money easily.

 

[Nomad]

Crypto doesn’t have inflationary effects

Inflation means the value of your money will go down and you will not be able to buy the same things that you used to buy previously for the same amount. This also happens with crypto. IN November 2021, BTC was $68K, and in November 2022, BTC is $18k. Isn't this inflation?

 

[oldbuddy]

Inflation means the value of your money will go down and you will not be able to buy the same things that you used to buy previously for the same amount. This also happens with crypto. IN November 2021, BTC was $68K, and in November 2022, BTC is $18k. Isn't this inflation?

Yes it is, but I have to spend my USD to survive and with Bitcoin I am buying more at this bargain price.

 

[nana kwasi]

Although cryptocurrency is beneficial, it has many drawbacks. However, fiat currencies do the same. The price of the pound and the euro against the dollar recently fell dramatically.

Each has its applications, but if the constraints of cryptocurrency can be surmounted, it is likely to surpass fiat.