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The basic Bitcoin ticker symbol comes in two flavors: BTC and XBT.

BTC is the informal ticker symbol Bitcoin was given shortly after its birth; XBT is its currency lawmaking, compliant with the rules of the International Organization for Standardization. The Bitcoin Foundation has applied to the ISO to formally corroborate XBT.

Further complicating matters was the Aug. 1, 2017 hard fork that created Bitcoin Greenbacks. This new flavor of Bitcoin also has two ticker symbols. Yikes!

First, here's how we ended upward with ii Bitcoin ticker symbols for the "legacy" Bitcoin...

Why We Have Two Bitcoin Ticker Symbols

In Bitcoin'due south early years (prior to 2013), the BTC ticker symbol was normally used equally a shorthand for Bitcoin. It's a articulate and logical abridgement for Bitcoin.

Because of that and because it originated shortly after Bitcoin'southward launch in 2009, the BTC ticker remains in use.

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But when it came time to assign a currency code to Bitcoin, BTC didn't work. The problem is that the first ii letters, "BT," happen to be the country code for Bhutan - an ISO no-no. (It wasn't a disharmonize with Kingdom of bhutan's currency, the ngultrum, which uses the ticker symbol BTN.)

So in 2013, a new Bitcoin ticker symbol was created, XBT, for use specifically equally a currency code. The "Ten" prefix was chosen considering Bitcoin is a "supranational" currency, not belonging to any 1 nation. (Other examples of this include gold, which uses the symbol XAU, and silverish, which uses XAG.)

BTC was too entrenched to fade away, though. Some sites utilise both symbols; others prefer one over the other.

Here are some tips on using these Bitcoin ticker symbols...

Where and How to Utilise BTC and XBT

If yous want check the price of Bitcoin against any other currency in a Google search, for case, you use the BTC ticker.

And so to get the latest Bitcoin cost in dollars on Google, yous'd type in "BTC USD" (you may have to add together price to become the currency toll box to pop up).

But the strange commutation website XE.com uses only the XBT ticker symbol. And another currency conversion website, Oanda, uses both BTC and XBT.

Most Bitcoin exchanges, such as Gemini, Poloniex, and Bitfinex, stick with the traditional BTC symbol. But a few, like Kraken, adopted the XBT symbol.

Typically, XBT is also used on fiscal news and information sites such as Bloomberg or CNN Money .

Related: How to Purchase Bitcoins - Your Guide to Digital Profits

But on other sites - including popular ones like Yahoo Finance and Google Finance -  investors looking for a Bitcoin price quote won't get anywhere with either BTC or XBT.

For those sites, you need to use the ticker symbol NYXBT, formally known as the NYSE Bitcoin Index. It doesn't stand for Bitcoin itself, as exercise BTC and XBT, but is a proprietary index created by the New York Stock Exchange in 2015.

The NYXBT is just updated once daily, however, at approximately half-dozen p.m. Eastern time. And so if y'all're interested in tracking the infinitesimal-by-minute adventures of the Bitcoin markets, you lot'll be better served looking on the Bitcoin exchanges or using the Coindesk website.

And equally if that weren't confusing enough, forth comes Bitcoin Cash with two more ticker symbols...

The Bitcoin Cash Ticker Symbols

Bitcoin Greenbacks is a variant of Bitcoin that allows larger blocks - eight megabytes rather than one megabyte - then that more transactions can fit in each block. This was one group'south respond to the growing problem of having more than transactions than the Bitcoin network could process.

When Bitcoin Greenbacks "forked" from legacy Bitcoin, it became a separate cryptocurrency the required its own ticker symbol. This was peculiarly disquisitional on the Bitcoin exchanges, where the two versions trade against each other every bit a currency pair.

The logical Bitcoin Cash ticker symbol was BCC, which several exchanges adopted. Trouble is, another cryptocurrency called BitConnect already uses the BCC ticker symbol.

And so some other Bitcoin Cash symbol sprung upwardly: BCH. Some Bitcoin exchanges utilize the BCH ticker symbol, but others continue to employ BCC. The lack of a standard is exasperating, but there'south no authority to enforce i.

Unless something changes, nosotros're stuck with multiple Bitcoin ticker symbols.

Apart from these, at that place are several other Bitcoin-related ticker symbols y'all should know almost...

Ticker Symbols for Investments Related to Bitcoin

About the Author

David Zeiler, Associate Editor forMoney Morning time at Money Map Press, has been a journalist for more 35 years, including 18 spent atThe Baltimore Sun. He has worked as a author, editor, and folio designer at different times in his career. He's interviewed a number of well-known personalities - ranging from punk rock icon Joey Ramone to Apple Inc. co-founder Steve Wozniak.

Over the course of his journalistic career, Dave has covered many diverse subjects. Since arriving atMoney Morning in 2011, he has focused primarily on technology. He's an proficient on both Apple tree and cryptocurrencies. He started writing about Apple forThe Sun in the mid-1990s, and had an Apple blog onThe Sun's web site from 2007-2009. Dave's been writing about Bitcoin since 2011 - long before most people had fifty-fifty heard of it. He even mined it for a brusque fourth dimension.

Dave has a BA in English and Mass Communications from Loyola University Maryland.

… Read full bio

Source: https://moneymorning.com/2017/05/25/is-there-a-bitcoin-ticker-symbol/

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