I have been studying the difference between Fiat and Bitcoin but I still get it twisted to understand what a Fiat mean, I would like the experienced members here to tell me the difference, I got to understand what a Bitcoin is all about but still confused on Fiat .
Thank you all
Fiat is just another name for our regular national currencies like the Nigerian naira (NGN), United state dollar (USD) etc all national currencies are fiat which are operated by our central banks eg CBN and commercial banks like UBA, GTB .... meanwhile bitcoin is a project developed by Satoshi nakamoto to help make distance transactions easier and also eliminate the need for a third party involvement in transactions for optimum security and anonymity. Aside that bitcoin is a volatile digital currency and that is the major reason for the price increase and decrease based on some factors.