Bitcoin vs fiat

Possessing an NFT is similar to owning a one-of-a-kind trading card. If you have that amount in fiat money, its true value will change if the federal government continues printing money based on fluctuations in inflation. Central banks and the people who run them can put more money into circulation which can raise inflation and make fiat money lose value over time. Cryptocurrencies have a limited supply. Once all the possible XYZ are in circulation, people who want to invest in this crypto will be willing to pay more for it than what you paid initially, as its supply will become more scarce.

Tokens are part of the same equation as cryptocurrencies but with one difference. They represent a subset of cryptocurrency used in specific projects like in gaming. Where Can I Get Some? Users earn Candy when they book through TripCandy as a kind of cash back reward. When coming up with the idea, we decided that a token would be a better reward than money or points because money loses value with time, and people easily forget about the point system.

Alternatively, tokens like Candy become an actual investment because they will gain value as TripCandy gets more bookings. There are two kinds of tokens: crypto tokens that come in the form of exchange or currency like the AXS example mentioned above and the other is a token tied to a digital asset — a non-fungible token NFT.

Tokens derive their value from four factors: 1. Take the music industry, for instance: In the pasts, artists had to be represented by a record label to make any money but often the label would keep the rights and profit from any royalties. With NFTs, independent musicians can sell songs or albums directly to their listeners and keep all the revenue for themselves. Amount of Adoption One of the most important aspects that gives a token value is the number of people or businesses willing to use and accept that token as payment.

Between July and August , NFT trading activity doubled, reaching , buyers and sellers monthly. Increased adoption leads to more stability and credibility. Because tokens are such a new concept, the percentage of people who trade NFTs and cryptocurrencies is still very small even though social media can lead you to think otherwise , so any activity or news affects value significantly.

Eventually, as more funds start to come in, the market will become more stable. Our team has a wealth of experience in a number of fintech areas, as well as the crypto compliance sector , ensuring that our clients are always positioned in the best possible place to take advantage of market fluctuations and volatility.

To discuss your options further, or to learn more about how BCB Group can help your business in the crypto market, you can get in touch with a member of our team online or by phone today. In basic terms, cryptocurrency is a digital currency, which is a form of currency that does not exist physically but is instead maintained and monitored through a series of computer programmes.

At the moment, the market is flooded with different forms of cryptocurrency, with some being far more stable whilst others run the risk of extreme volatility. Whilst nothing is certain, some of the most basic and settled forms of crypto currently on the market are Bitcoin and Ethereum.

Dogecoin, though perhaps surprising to some, has also come to be seen as a more settled coin in recent times but does still have the potential to act erratically with market fluctuations given its unique social standing. How Does Fiat Differ from Crypto? This means that their value is not tied to a valuable commodity such as a precious metal like gold or silver. In general, the value of a fiat currency is determined by its acceptance across the globe and can usually be divisible by , which is the lowest amount of the currency that you are able to own.

The main difference between cryptocurrencies and fiat money is that cryptocurrencies tend to be decentralised, which means there is no single authority that controls their value by creating more of the currency and diluting the overall value. By operating in this decentralised manner, cryptocurrencies are able to remain highly resilient and can validate transactions without the input of a third party, such as a bank.

Instead, the transactions will be validated by the blockchain technology that is present.

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