Put simply, Fiat is currency that has been issued or declared as legal tender by a government. As you can’t spend paper money on the blockchain, stablecoins have been created as their digital version.
Stablecoins are issued and backed (pegged) against real dollars at an equivalent rate of 1:1, with the real dollars held by regulated custodial US correspondent banks. Unlike Bitcoin, which is volatile, stablecoins trade in tandem with real dollars and can always be changed back to paper at a rate of 1:1.
If you don’t own stablecoins or any other crypto, the first thing you will need is a wallet. There are multiple safe wallet providers that allow you to deposit cash using your bank account or debit card in exchange for cryptocurrencies, which you can then send to your YIELD App account.
To get you started, we would recommend a gateway such as moonpay.io which is simple to use and allows you to purchase and send cryptocurrencies directly to your YIELD App account.