Apart from the vast majority of national currencies, ISO 4217 also provides codes for the so-called ‘super currencies’ that are not restricted to a certain currency and pose as a global medium of exchanging money. That eventually prompted the appearance of a brand-new Bitcoin code: XBT (it is still not considered to be the official ticker of Bitcoin). When it comes to Bitcoin, there was an issue with Bhutan - the ngultrum (BTN), the country’s national currency, created roadblocks given that its very first letters coincide with that of Bitcoin. According to these rules, the first two letters of the currency symbol are supposed to represent the country (case in point: USD where ‘US’ stands for the United States). So, what is XBT? When the popularity of the flagship currency started skyrocketing (along with its price), there was a need for a currency code, but the problem was that the ‘BTC’ ticker name actually violated the ISO 4217 standard. As mentioned above, the BTC ticker was created by Bitcoin’s elusive creator Satoshi Nakamoto, so there was no need to come up with another variant - everyone perfectly understands what BTC is. The tale of two Bitcoin tickersīefore Bitcoin hit the mainstream, the only existing Bitcoin ticker was BTC (the logical shorthand that doesn’t raise any additional questions). However, when it comes to the decentralized world of cryptocurrencies, it is not an easy feat - there are certain coins in the likes of Nimiq’s NET that fail to get listed on exchanges because it coincides with another cryptocurrency. In order to list stocks, bonds or other securities on the NYSE, there is an approval process involved, but there are no geographical restrictions, which essentially means that the same ticker could work in another country. They are perceived as the standard ones due to the fact that they come straight from Satoshi’s and Vitalik’s respective white papers.įor ICO issuers, it is a mundane practice to specify the name and the ticker of the token to avoid confusion. It pertains to all known crypto tickers, including the ubiquitous BTC and ETH. Without them, trading would be significantly more confusing.Despite some common beliefs, no one registers a cryptocurrency ticker (they are not protected under copyright law). In this sense, ticker symbols play a vital role for traders and investors who are trying to navigate the vast cryptocurrency universe. You could confuse Bitcoin and Bitcoin Cash however, the latter’s ticker symbol is BCH, while Bitcoin’s ticker symbol is BTC. For example, someone new to the cryptocurrency world who wants to purchase Bitcoin can only be sure that they are buying the right token if they look at the ticker. This is where ticker symbols make a difference. As new tokens launch by the minute, some of them may have very similar names. In the constantly developing world of cryptocurrencies, ticker symbols play a vital role for traders. Examples of such include Tether (USDT), Dogecoin (DOGE), and Polygon (MATIC). However, with the rise in different altcoins, today, there are ticker symbols that consist of four or even five letters. Usually, this symbol consists of a three-letter combination. Every stock and every cryptocurrency token has to have a unique ticker symbol.
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