Fiat currency has been the mode of payment for decades, but currently crypto currency is finding its way in the business sector and used as a legal tender by some businesses. We all love crypto currency, bitcoin and ethereum to be specific because they are always rising and people have become rich from those cryptos. What we should know is being a good investment doesn't mean its a preferred mode of payment, there are some factors to be checked first so that we see if it qualifies:
Decentralized
Volatility
Unknown origin
Bitcoin and Ethereum are decentralized and can not be controlled and it makes it unreliable for it to replace fiat money. Unlike fiat, it can be controlled by the government and if there are some polices to be implemented its easy to do so though people hate government polices but at-least cyber crime rates will be minimized.
Bitcoin and Ethereum are volatile and their price can change over night and that's not goods for business, so with volatility it makes it unreliable to make it a mode of payment. Fiat is not that volatile and since the money market is regulated by the financial regulators it always stay in pipeline.
Bitcoin is claimed to be introduced by satoshi nakamoto and no one knows who that is and for that reason some people can not trust it to be a sole legal tender.
With these factors being taken into consideration, Bitcoin and Ethereum can be used as methods of payments but can not completely replace the whole system because of the above factors. The only threat to the fiat currency are stable coins, these are very stable and are centralized. The advantage of them is the freedom of spending your money however you want
