Fiat in crypto refers to traditional government-issued currency, like the US dollar or euro, which can be used to purchase cryptocurrencies. It's essentially the opposite of cryptocurrency, with fiat being centralized and controlled by governments, while cryptos are decentralized and operate on blockchain networks .

*Key differences between fiat and crypto:*

- *Control*: Fiat currencies are controlled by central authorities like governments and banks, whereas cryptocurrencies are decentralized and governed by blockchain networks.

- *Supply*: Fiat currencies can be printed or minted by governments, potentially leading to inflation, while most cryptocurrencies have a capped supply.

- *Transaction speed*: Fiat transactions can be slow, especially for international transfers, whereas cryptocurrency transactions are often faster.

- *Stability*: Fiat currencies tend to be more stable in value compared to cryptocurrencies, which can be highly volatile .

*What is a fiat wallet?*

A fiat wallet is a digital solution for storing, sending, and receiving traditional currencies. It allows users to manage their fiat currencies digitally, similar to an online bank account, and is often integrated with cryptocurrency exchanges. This enables seamless transactions between fiat and crypto .

*How do fiat wallets work?*

Fiat wallets operate as a bridge between traditional fiat currencies and digital assets. They allow users to:

- Deposit fiat currency

- Convert it into cryptocurrency

- Store and manage funds digitally

- Withdraw funds to bank accounts

Overall, understanding the relationship between fiat and crypto can help you navigate the financial landscape and make informed decisions about your investments .