{"id":6652,"date":"2019-08-01T13:28:43","date_gmt":"2019-08-01T13:28:43","guid":{"rendered":"https:\/\/qa-front.dev.techhub.cloud\/blog\/?page_id=946"},"modified":"2024-04-18T09:58:37","modified_gmt":"2024-04-18T09:58:37","slug":"what-is-fiat","status":"publish","type":"glossary","link":"https:\/\/paybis.com\/blog\/glossary\/what-is-fiat\/","title":{"rendered":"FIAT money"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">In many cryptocurrency <\/span><a href=\"http:\/\/www.bitcointalk.org\"><span style=\"font-weight: 400;\">forums<\/span><\/a><span style=\"font-weight: 400;\"> and Social Media groups, you will see the term FIAT money being mentioned. But what exactly does the term stand for?<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What is FIAT money?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Fiat money is a currency issued by the government. The intrinsic value of government money is determined by the supply and demand as well as the stability of the issuing government, instead of a commodity\u2019s valuation. For that reason, it is not backed by a physical <\/span><a href=\"https:\/\/www.investopedia.com\/terms\/c\/commodity.asp\"><span style=\"font-weight: 400;\">commodity<\/span><\/a><span style=\"font-weight: 400;\">, such as gold or silver.<\/span><\/p>\n<!--[if lt IE 9]><script>document.createElement('audio');<\/script><![endif]-->\n<audio class=\"wp-audio-shortcode\" id=\"audio-6652-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"https:\/\/paybis.com\/blog\/wp-content\/uploads\/2019\/10\/37-What-is-FIAT-money-and-can-you-use-it-to-buy-Bitcoin.mp3?_=1\" \/><a href=\"https:\/\/paybis.com\/blog\/wp-content\/uploads\/2019\/10\/37-What-is-FIAT-money-and-can-you-use-it-to-buy-Bitcoin.mp3\">https:\/\/paybis.com\/blog\/wp-content\/uploads\/2019\/10\/37-What-is-FIAT-money-and-can-you-use-it-to-buy-Bitcoin.mp3<\/a><\/audio>\n<h2><span style=\"font-weight: 400;\">What are the popular government-based currencies?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The money you currently use in your daily life, to perform purchases for a variety of reasons, is considered to be FIAT money. Currencies like the U.S. Dollar, the Japanese Yen (JPY), Euros (EUR), Australian Dollar (AUD) and the Brittish Pound (GBP) are all examples of government-based currencies.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Can I buy Bitcoin with FIAT currencies?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Yes, you can. Depending on the <\/span><span style=\"font-weight: 400;\">exchange<\/span><span style=\"font-weight: 400;\"> you choose to perform your transaction you will be eligible to <a href=\"https:\/\/paybis.com\">purchase Bitcoin<\/a> with most currencies. Paybis exchange allows you to buy Bitcoin with GBP, EUR, and USD.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fiat money is a currency issued by the government<\/p>\n","protected":false},"featured_media":0,"template":"","glossary_letter":[291],"glossary_term":[276,284],"class_list":["post-6652","glossary","type-glossary","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is FIAT money and can you use it to buy Bitcoin? - Paybis Blog<\/title>\n<meta name=\"description\" content=\"Do you ever wonder, after reading numberous cryptocurrency chat and forums, what is FIAT money? 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