What is a fiat currency?
A currency issued and declared as legal tender by a central bank or public authority is considered fiat currency, such as British Pounds and Euros. Fiat money allows a central bank or public authority to employ virtually any material, such as paper (which is lightweight and convenient for carrying), as a medium of exchange.
Cryptocurrency is not tied to any fiat currency. It is not issued or backed by any government and is not associated with any underlying value.
Getting cryptocurrency exposure
- Which cryptocurrencies are supported and how do I start investing in cryptocurrencies?
- How much does it cost to buy or sell cryptocurrency?
- How can I start using cryptocurrency features?
- Does the conversion from and to cryptocurrencies happen instantly?
- Sending cryptocurrency
- Can I set target prices for exchanging cryptocurrency automatically?
- Can I be notified of price volatility?