Crypto Dictionary

Official FIAT Definition

an authoritative decree, sanction, or order:a royal fiat.
a fixed form of words containing the word fiat, by which a person in authority gives sanction, or authorization.
an arbitrary decree or pronouncement, especially by a person or group of persons having absolute authority to enforce it:


We Know Cryptos FIAT Definition

FIAT is a type of currency that is legal tender according to Government, but are not backed by any other asset. The value and supply of FIAT is controlled mainly by Government.
Some examples of FIAT currency is USD (Dollars), Euro, Pound, South African Rand etc.

Simple FIAT Definition

The money you already know. The same money you bought your last beer with. The same money that doesnt go very far.

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