What’s the difference between cryptocurrency and fiat currency?

Cryptocurrency is a digital form of currency created using cryptography and blockchain technology and is not regulated by any centralized banks or governments. Fiat currency, on the other hand, is government-issued money that is backed by a country’s reserve currency, such as the US dollar. With cryptocurrency, transactions are decentralized and secured by blockchain technology, while fiat currency transactions are tracked and regulated by government or financial institutions. Additionally, cryptocurrency is not subject to inflation or any other fluctuations in value due to market forces, whereas fiat currency is often subject to inflationary pressures. Finally, unlike fiat currency, cryptocurrency can be used for anonymous or pseudo-anonymous transactions.