medium of exchange

Metal coins may be just about the oldest medium of exchange still in use today, but ensuring their worth requires some of the most state-of-the-art technology available.

For most of crypto’s existence, we’ve been debating just what sort of financial product it is: a medium of exchange, like the dollar, or a store of value, like gold or stock certificates.

It is frequently mentioned as a measure and medium of exchange in Icelandic legal texts, as well as sales accounts, church inventories and farm registers, from the 1100s into the 17th century.

Terra was “designed as a medium of exchange, not an investment,” a Terraform Labs spokesperson said in an email statement.

They are popular as safe-havens in times of turmoil in crypto markets and are a common medium of exchange, often used by traders to move funds around and speculate on other cryptocurrencies.