![]() The XBT ticker still continues to confuse those that are more familiar with BTC. Why Does XBT And BTC Ticker Symbols Still Confuse People? Comparing XBT to BTC is like comparing apples directly to the same exact type of apples.īTC sometimes refers to the cryptocurrency asset itself, while the term XBT is used for more professional services, such as derivatives trading. The BTC XBT / XBT BTC difference is in the coin code or cryptocurrency ticker symbols only. ![]() XBT vs BTC: What Is The Difference Between XBT and BTC? Thus, a new abbreviation XBT was created. The symbol XBT was used to avoid any confusion with existing currencies.įor example, the Bhutanese ngultrum utilizes the BTN ticker name, and XBC stands for the bond market unit E.U.A.-9 – the European Unit of Account 9 as defined by ISO 4217. Why Can’t It Be Called XBC or BTN Instead?īitcoin is a new technology developed within the last 15 years, long after most currency codes were established. The two latter financial instruments have been trading globally for hundreds of years, transcending nation states.īitcoin also has no borders its bound to, and because the asset is a decentralized currency, it is much more similar to a gold or silver versus a currency like the dollar or the yuan that is tied to a superpower government. The X in XBT is in reference to any asset that acts as a “supranational” currency that isn’t bound to any particular country borders, much like XAU in gold or XAG in silver markets. Although BTC is still the more popular term for the cryptocurrency asset, XBT is better suited for its potential as a global reserve currency. XBT is one of two Bitcoin codes, with BTC code being the other. The acronym XBT, specifically applies to the ISO 4217 standard, in which Bitcoin follows similar guidelines of other non national currencies, such as gold, silver, palladium, and more. What Is XBT? Meaning, Definition & What It Stands For Specifically, currencies like USD, Bitcoin, and even gold follow ISO 4217 standards, published in 1978 by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies.īut much like everything else related to the sometimes unorthodox cryptocurrency market, Bitcoin confusingly trades under two separate price symbols, XBT and BTC. ![]() The national currency dollar is used across many countries, making the first two letters of each symbol especially important to pay attention to, and is often the country code itself. Introduction To Bitcoin, BTC, XBT, And The Differences Between Themįinancial markets all vary in the assets that trade within them, ranging from forex currencies, to commodities, stocks and indices, metals, cryptocurrencies, and many more.īecause the international financial world is so vast and widespread, each asset trades globally using an agreed upon standard nomenclature for a price ticker symbol that represents what is essentially an abbreviated version of the asset or company’s full name.įor example, a national currency might include the name of the country of origin within the abbreviation as is the case with the United States dollar trading as USD.
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