What Does Fiat to Crypto Mean?

What is Fiat Currency?

Fiat is just mainstream legal tender, or official national currency, issued by governments. This includes the US Dollar, Canadian Dollar, Euro, Japanese Yen, etc.

What is Cryptocurrency?

Cryptocurrency is not a legal tender, and not endorsed or backed by any government. It’s a decentralized digital medium of exchange created by the science of cryptography and executed by computers.

What is Fiat to Crypto?

“Fiat to crypto” means buying cryptocurrency with fiat money … so, for example, buying Bitcoin with USD.

Fiat to Crypto at a Bitcoin ATM

As hinted, Bitcoin ATMs have always used the fiat-to-crypto model. And a few (like 20%) also allow crypto to fiat, like Coin Cloud machines do. We’ll talk about that more tomorrow.

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Coin Cloud

Coin Cloud

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The world’s leading operator of two-way Digital Currency Machines (DCMs), more advanced Bitcoin ATMs.