Any type of 'money' or 'currency' represents a unit of value that's exchangeable for goods and services. The key factor is common acceptance that it will persist in being exchangeable in the future, (if you accept it now for your labor, someone will accept it in exchange for food in the future).
Being backed by some governments is generally considered more stable than an individual, or group of individuals. Crypto seems to be more a speculative investment than a genuine currency at this point in time.
Being backed by some governments is generally considered more stable than an individual, or group of individuals. Crypto seems to be more a speculative investment than a genuine currency at this point in time.