Simple English definitions for legal terms
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A soft currency is a type of money that is not backed by reserves, which means its value can change quickly and unpredictably. This is different from hard currency, which is backed by reserves like gold and silver. Soft currency can be risky to use because its value can decrease rapidly, making it less valuable for buying goods and services. Examples of soft currency include some types of digital currency and certain currencies used in developing countries.
Definition: Soft currency is a type of currency that is not backed by reserves, which makes it subject to sudden changes in value.
These examples illustrate how soft currency can be unstable and unpredictable, which can make it difficult for people to use it as a reliable medium of exchange.