Fiat money
In short
Fiat is government-issued money like euros or dollars — backed not by gold but by trust in state and central bank. In crypto, "fiat" simply means traditional money.
The term comes from Latin "fiat" ("let it be done"). Central banks can expand supply — one reason Bitcoin's fixed cap is seen as the counter-model.
Why do people say "fiat on-ramp"?
On-/off-ramps are the crossings between the euro world and crypto — deposits and withdrawals at exchanges.
Related terms
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