Which of the following is a difference between fiat currencies and cryptocurrencies?

A) Unlike fiat currencies, cryptocurrencies have a physical form.
B) Unlike fiat currencies, cryptocurrencies are not backed by any government.
C) Unlike fiat currencies, cryptocurrencies are not backed by any physical commodity.
D) Unlike fiat currencies, cryptocurrencies represent the value of a government's store of gold or silver.

Fiat Currencies

Money that a government has declared to be legal tender, despite it not being backed by a physical commodity, with its value stemming from the trust and acceptance of the people.

Cryptocurrencies

Digital or virtual currencies using cryptography for secure financial transactions, operating independently of a central bank.

Physical Commodity

Tangible goods that are traded, bought, or sold, such as oil, grain, or metals.