Fiat-to-Crypto

Understand crypto terminology related to fiduciary duty compliance, ensuring your financial practices meet legal obligations and ethical standards.

Fiat-to-crypto refers to the process of exchanging traditional government-issued money, such as the US dollar or euro, into digital currencies like Bitcoin or Ethereum. This conversion is essential for users who want to buy, sell, or trade cryptocurrencies.To convert fiat to crypto, individuals typically use platforms known as exchanges. These exchanges allow users to deposit their fiat currency and select the cryptocurrency they wish to purchase. Once the transaction is completed, the digital currency is credited to the user’s account on the exchange.Additionally, this process can occur through ATM machines designed for cryptocurrencies, which enable users to deposit cash in exchange for digital coins.Overall, fiat-to-crypto transactions are crucial for making cryptocurrencies accessible to a broader audience, facilitating entry into the growing market of digital assets.

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