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General TradingF
Fiat
Fiat currency is government-issued money that is not backed by a physical commodity like gold. Its value is derived from the trust and authority of the issuing government. In crypto markets, fiat refers to traditional currencies like USD, EUR, and GBP used to buy digital assets.
Example
“To buy Bitcoin on a centralized exchange, you first need to deposit fiat currency like USD or EUR through a bank transfer or debit card before placing a trade.”