In the 21st century cryptocurrency has been able to gain relevance through the emergence of Bitcoin, and since then numerous other alternative currencies have entered the market. I find cryptocurrency interesting due to its price volatility, and ridiculous returns of up to 700% for some investors. Today, a “meme cryptocurrency,” Dogecoin, saw its price jump 77%. As the world is becoming increasingly digitized, I’m interested in finding out if cryptocurrency has the potential to take over fiat currency. I plan on answering this question by discussing the purposes of money and examining if cryptocurrency fits the definition. I will also provide advantages or disadvantages of operating under a cryptocurrency system and determine if it is preferable to the current fiat currency system. Ultimately, by completing a comparative study of fiat currency and cryptocurrency, I will be able to determine if cryptocurrency is truly the future. Read the Jumde and Cho paper on cryptocurrency as background reading.