Sentences with phrase «preferred fiat money»

Since is is backed by an actual fiat currency, it allows the users to move their preferred fiat money in and out of a certain exchange efficiently and in a cheaper transaction rate.

Not exact matches

The transaction works the same in the reverse: if a recipient needs or prefers to receive a payment in bitcoin, but the sender prefers to deal in fiat currency, the sender can add money to their Abra wallet using their bank account or a local Abra Teller and then send their fiat currency directly to the recipient's bitcoin address, even if the recipient does not have an Abra wallet.

They prefer to label both fiat currencies and gold as real «money» because their value is backed by either a government or a rare precious metal.