Topic: WHAT DOES IT REALLY MEAN (Read 597 times)

It's what you use today to pay commonly.
Your paper money to put it simply.
It is regulated by the government, unlike some crypto which we all know aren't regulated.

To make it simple, fiat currencies are provided or issued by our government, and the currency that you are using right now for making transactions is called cash, which is an precise example of fiat currency. I also think you are not making a good research here because I assume everybody knows what is a fiat currency.

As the other users said, it is basically the money circulating in your country and issued by your local government. It is the traditional money we used to do different kinds of transactions for our daily life. What you have in your pocket or in your wallet is what we call fiat currency.

It's basically the money issued by the government. That's it. The crypto world thinks that Crypto can replace FIAT. Well, It's a possibility. But when will it happen? I feel like we are on the right track but still have quite a distance to the goal.

Fiat currencies are which we are using them in daily life, like dollar, euro, etc. It is controlled by banks, which means it is centralized monetary, but about cryptocurrency, it is decentralized monetary. That is why none or nothing can not control this world. It is a big difference between fiat currency and cryptocurrency. But no doubt if you start learning about both of currencies, you will know differences between them. Cryptocurrency gives us a good opportunity like we can make our transactions with fewer fees than our fiat currency.

Simple google search wont really cost you an arm and leg.

https://en.wikipedia.org/wiki/Fiat_money
https://www.investopedia.com/terms/f/fiatmoney.asp

or simply means the money you've been using now is Fiat currency. 

maybe by reading this article will help you to understanding about cryptocurrency my friend
https://en.wikipedia.org/wiki/Cryptocurrency and https://cointelegraph.com/bitcoin-for-beginners/what-are-cryptocurrencies
regards

this is the answer you've been looking for so far, hopefully with this picture you can understand what FIAT is, don't hesitate to ask anything in this forum if you still have questions

Fiat currencies are the currencies used in different countries. A good example is, in your own country or in your location, the money which is minted by the government and totally controlled by them is the fiat currency of that country. In a country like USA their fiat currency is US Dollars and also fiat comes in physical or hard form unlike cryptocurrencies which are digital currencies. Hence the typical differences between cryptocurrencies and fiat is; cryptocurrencies comes in digital forms while fiat is in physical or hard form, cryptocurrencies are not controlled by the government while fiat is owned and controlled by the government.

Welcome to the community! Glad to see more people trying to learn about crypto currencies and the technology behind it. Make sure you read the rules before you start posting. If you have a question, try searching for any threads similar to your question. You might get your answer over there.
Anyway, hope you got your answer over here. Also do look at the link the previous guy posted. The Glossary is going to be helpful!

Maybe he should get familiar with cryptocurrency glossary, it will help with most terms around here 

https://coinmarketcap.com/glossary/

the simplest explanation of fiat currencies is the money you use in your regular life when you go to the store or pay for fuel. but if you compare fiat money with cryptocurrency, it's just an outdated economic system

Paper currencies which are printed by respective central banks of eery countries are fiat currencies which are dollar,euro,etc...

Fiat currency is the centralized native currency of every country controlled by the government. Just like the Dollar , pounds , Dinari , Yen  and so on. It's always in paper form used to make every dealings of buying and selling. But cryptocurency is decentralized with high anonymity.

FIAT is a legal or original currency but in paper form. for example like the Dollar and especially in my country Indonesia is called Rupiah. so you can redefine the meaning of the FIAT currency. I think your country also has a FIAT currency.

The money you spent in your country is Fiat, e.g USD, EUR, Pounds, Naira etc, i like the fact that you are a newbie and you don't mind asking questions, keep it up, this is the fastest way to learn in this space

You have many ways to know the deeper meaning of fiat currencies. As what you have said you learn a lot about cryptocurrency and this fiat currencies is the paper money you use to buy goods and services in your country.It is back by a government you belong in which guarantees the validity of that currency in your country. We have other ways to understand the true meaning of fiat so by having a research could help and enlighten you.

You do not need to understand what fiat currencies are if you are interested in cryptocurrencies and crypto market because fiat currencies are just the traditional paper currencies like usd, euro, gbp etc from where you are coming so why would you still want to stuck there? Just try to understand how cryptocurrencies work and what use cases they present and what problems they solve for the world atleadt focus on bitcoin and ethereum and you will understand it all in a few months.

it is a term for the money that we are using.. the  cash/paper money that we can see in our everyday life that came from the government

I don't agree with your statement, as you have said you have learned a lot since you started here but I think if you had learned well you would not ask a question like this. As for your understanding flat means cash, for example, all country's currencies mean flat. Next time if you have a question like this you would have to search it before making any thread. 

FIAT means cash, each country has different cash. You can go to google and search for this keyword, I believe they will explain it in the most detail and you will quickly understand it.

You never can tell, he might have searched and research, but yet has not been able to understand it as he wants. Cryptocurrency is very much different from Fiat. He has stated that he understands cryptocurrency already and the only thing left now is Fiat. So, I feel an answer in that direction should help him.
Well, it's good to see that the right answers have been given by other members and I believe he should now understand it more. Searching google now will make things easier.

It seems that from the explanation above, everything has been explained about fiat currency, which is the national currency that we use every day to transact in the real world.

As most of the members try to give you full definition of fiat currency, i will try to explain why cryptocurrency invented along with the blockchain technology as well as what's the advantage of cryptocurrency better than fiat currencies.
If op read the previous reply than op might understand what's fiat currencies. In simple world, fiat currencies are the exchanging method in local government and it's different from country to country , also government has the control to do anything with the fiat currencies. In this current covid-19 pandemic , many of the countries print so many fiat currencies to control or maintain the situations. So, government can print as much as they want to, which will cost the problem of inflation and economic collapse. To solve this problem and also the other problems, satoshi first time create a decentralized electronic currency which won't control by any government and this first electronic currency is called Bitcoin. By the time passed, there were introduced many crypto-currencies to solve the problem of Bitcoins and it's still continued. The  main advantage of crypto-currencies is that it's limited supply not like fiat currencies which has unlimited supply and government can print as much as they want. Also crypto-currencies price are continously increasing because of the limited supply and daily more adoptions. 

You don't know fiat yet you claim you are reading and have learnt a lot meanwhile you are unable to read something as simple as fiat currency, an information that will not take Google a sec to produce it by using the search button, clearly you have not been reading as much as you claim, this are very basic information, use Google sometimes not all minor queries need to be open a thread for, I don't see the point.

Agree! Furthermore, Fiat currency is a currency backed by governments and real assets. It's different from cryptocurrency which is intangible currency that is not backed by any government. That's my basic understanding of fiat currency. I hope you found it's helpful.

If you got confuse with this its just a representation of different countries money. Its not a cryptocurrency unless you mentioned fiat cryptocurrency - these are stablecoins that have been created for direct relational to countries where they accept gateway payment through cryptocurrency. Example of this is USDT where symbolized the USD but not really backed by it. Your learning are not yet sufficient enough and needed much reading.

In the world fiat it was already given it was called money (paper money), fiat currency is the one that you used on your country for buying some staffs or some personal needs you can search it too instead of asking here in the forum many of the answer will be shown on the google so you can understand it.

Fiat is simply paper spendable money. To get a better understanding, fiat is what most countries used as their legal tender and often times, have a complete backing by the financial bodies and institutions of not just the countries but the world financial bodies as well. It is a nation's true financial representation and always used to relate with other country's legal tender. It is controlled by the government and centralised by a designated authority.

It's better for you to get an answer to your question through using your browser and use your search engine. This can be categorized as a common thing that has already explained a lot by a bunch of sites in the internet.

Are you sure having read a lot? I think you need to add your sources to read.
here, you can easily find what fiat is:


It is so clear to see in the picture. You can also find it on google.
To make it easier, fiat is a kind of legal currency issued by every country and it not backed by the commodity likely gold. Fiat is commonly used as the major payment method, transaction, currency value, and also the manner of "money".

I am sure that you use money in your country to buy something, pay something, and also you get when earn something right? that's the fiat.

Source:
https://www.fool.com/investing/general/2015/12/06/fiat-currency-what-it-is-and-why-its-better-than-a.aspxhttps://www.investopedia.com/terms/f/fiatmoney.asp

I think we are speaking big words to op which could get him/her more confused. Fiat money is simply the currency used in your country in buying and selling. That money you have with you , that you buy things with is also called fiat..

it means you aren't really reading because for the term "what is fiat currencies" can find it on google and there are many articles that discuss the question you are looking for

Oh come on mate fiat currencies is declared legal tender by your local government as that you are using to buy any goods and services with your fiat currency.

A good example is that money you are currently using in your country for buying commodities and paying for services.
In other words it's a currency that is not backed by any physical commodity like gold and has been declared by the government of a give country as the legal tender. So each country has it's own fiat currency,

Read more here: https://www.investopedia.com/terms/f/fiatmoney.asp

FIAT is common term used to described the currency which is used in real world in paper form.In US Fiat is considered as Dollar and Europe, Fiat is Euro. Like this the fiat had various form. In future, the digital currency will replace all the fiat and became the one and only using currency in the world.

Fiat currencies are the currencies provided by our governments, yes that paper money we are using in our day to day life.

Simple google search might helped you with this one.

I am new to cryptocurrency world and I've learnt a lot since I started reading about it but I've not really gotten much of understanding on what is meant by FIAT CURRENCIES?