We will start this article by explaining what the term FIAT money means and why it is important to understand the adoption of cryptocurrencies.
FIAT money is used to refer to fiat money or currency issued by a central government and is backed by the trust and “faith” (just as you read) of citizens in different countries. It is a bit paradoxical that FIAT money is not backed by gold or silver, but it is. This type of money is accepted as a payment method, because in a certain way, all citizens have access to it.
In short, it is the money that you and I know. The one with which we normally buy everything from milk to a luxury watch, which we call Colombian peso, Mexican peso or US dollar.
How is the value of these coins determined? For trust and belief in its usefulness. As well as, the ability of a “government” to maintain its stability and “control inflation”, we will talk about the latter in another article.
Now, understanding this, we will move on to explain why cryptocurrencies are gaining ground compared to FIAT money.
FIAT Money vs Cryptocurrencies, decentralization and security are the key.
The most important argument from crypto enthusiasts is decentralization. This is because cryptocurrencies like Bitcoin or in our case like KII Coin are purely based on Blockchain technology. The use of blockchain allows decentralized transactions without the need for intermediaries such as banks or governments, this translates into lower costs and efficiency.
Another important factor is security because cryptocurrencies use cryptographic algorithms which protect the integrity of digital assets.
Eliminating the borders that have existed for centuries is one of the missions of cryptocurrencies. In 2023, anyone with internet access, no matter where they are on the globe, can have access to them. In this way, financial inclusion is generated, an objective that Kii Global has pursued since its inception, to offer Latin Americans access to financial products by eliminating barriers that have unfortunately been found in traditional banking.
Take advantage of opportunities in Pre-IEO.
There is a potential to make profits in cryptocurrencies. Many people have bought coins at low prices or on sale before the official launch. The purpose is to make a profit at launch or over the years.
Did you know the potential that exists in the crypto world?
