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The primary similarity between Bitcoin and fiat currency is that both Are backed by a central...

  1. The primary similarity between Bitcoin and fiat currency is that both
    1. Are backed by a central authority.
    2. Derive value through a relationship between supply and demand rather than the value of the material that makes up the money.
    3. Involve decentralized control over the currency.
    4. Are considered legal tender.
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Answer #1

d. Are considered legal tender.

Bitcoin as well as normal currency is considered as legal tender in US.

Fiat currency is backed by central authority while bitcoin is created by computers. value of fiat currency is fixed by the government at the time of issue and bitcoin by the computers.

Bitcoin have decentralized control while Fiat currency has centralized control

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