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Fiat Money vs Cryptocurrency

Bitcoin is just one type of cryptocurrency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank, such as Ethereum, Ripple, Litecoin, Stellar, TRON, Tether, and Zilliqah. As cryptocurrencies become a leading aspect in everyday transactions such as the state of Arizona passing a bill that would allow residents to pay their income taxes using Bitcoin and other cryptocurrencies since January 2018.
Cryptocurrency is trace less, and can be used to benefit the everyday person if you know the right things. This post breaks down an example of fiat money versus cryptocurrency in value. In case reading this has you hype to pull out your check book,  look below to find your quick breakdown of just what 1 bitcoin will cost you around the world as of April 18th, 2018.

fiat money vs cryptocurrency

 

You may see your home currency above, some places are cheaper than others, but as the demand raises more countries outlaw the use of the cryptocurrency by making such cryptocurrencies  illegal, and unlawful. Cryptocurrencies have been banned in places like China and South Korea. Before purchasing any type of cryptocurrencies make sure you check your country’s law. For example purchasing cryptocurrency in China alone may open you up for the possibility of prosecution.

Bitcoin prices had declined from their December peak of nearly $20,000 amid uncertainty about increased government regulation on cryptocurrencies. At the beginning of February, bitcoin went below a daily price of $7,000, the lowest it had been since November.

On January 8th, 2018, the combined market capitalization of all cryptocurrencies hit $800 bln, just days after reaching the previous all-time high of $700 bln.

Read Next: The Top 6 Reputable Exchanges where you can buy Bitcoins Using Credit Cards in 2018

By Sierra Givens

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