What is Fiat Money? LCR Coin ExplainsLCR Coin
What Is It? For those who aren’t familiar with finance, the name “fiat money” might sound cryptic, but the explanation is fairly simple. Fiat money is money that has no built-in value of its own but has been declared legal tender by the government. While the paper dollars you carry in your wallet, purse, or pocket are worth a certain amount determined by the current economic climate, in themselves, they are worth nothing – just pieces of paper (or, more specifically, a mix of cotton and linen). This is unlike gold or silver, which do have their own intrinsic value – which is why LCR Coin recommends investing in them.