Going through a lot of thread here,Am convinced that Bitcoin and cryptocurrency serves as a means of Exchange for trading.
Am still trying to understand the clear difference between the both and know how to place them in their separate parts..
I'll like to know more and be corrected where am wrong.
As simple as this:
- Bitcoin -> USD
- Cryptocurrency -> Fiat
A cryptocurrency is a medium of exchange and bitcoin is one of those. Bitcoin is the first crypto to be created and considered as the king but there are also other crypto like ETH, BNB, MATIC, etc. which have different utilities that is tied to bitcoin's price.
Same with Fiat or paper money, it is our traditional mean of exchange and USD is the main currency. Our local currencies' (PHP, Yuan, Yen, Euro, etc.) is dependent on it, without USD existing our local fiat won't have its value.