XBT vs BTC: Are They the Same?

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24 Aug 2023

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Bitcoin is the most popular cryptocurrency in the world, and it is often referred to by the ticker symbol BTC. However, there is another ticker symbol that is sometimes used for Bitcoin: XBT. So, what is the difference between XBT and BTC?

XBT is the ISO currency code for Bitcoin

The International Organization for Standardization (ISO) is a non-governmental organization that develops international standards. In 2013, ISO published ISO 4217, a standard that defines three-letter codes for currencies. The code for Bitcoin is XBT.
The reason why XBT is different from BTC is that ISO standards require that currency codes for non-physical assets begin with the letter "X". This is because physical assets, such as gold and silver, are assigned currency codes that begin with the letter "X" followed by the first two letters of the asset's name. For example, the currency code for gold is XAU.

BTC is the more commonly used ticker symbol

Despite the fact that XBT is the ISO currency code for Bitcoin, BTC is still the more commonly used ticker symbol. This is because BTC was the original ticker symbol for Bitcoin, and it has been in use since the early days of the cryptocurrency.

There is no difference between XBT and BTC

Despite the different ticker symbols, there is no difference between XBT and BTC. They both refer to the same cryptocurrency. In fact, many cryptocurrency exchanges and trading platforms support both ticker symbols.

So, which ticker symbol should you use?

Ultimately, the decision of which ticker symbol to use is up to you. If you are following ISO standards, then you should use XBT. However, if you are more familiar with BTC, then you can continue to use that ticker symbol.
It is important to note that the use of XBT and BTC is not mutually exclusive. Some exchanges and trading platforms support both ticker symbols, and you may see both symbols used in the same context.
The following exchanges are using XBT as their ticker for Bitcoin:

BitMEX
Kraken (futures)
Xe.com
CME Group
CBOE
LedgerX
Deribit
Bitfinex
Huobi Global
Bybit
FTX

These exchanges have chosen to use XBT as their ticker in order to comply with ISO standards. ISO 4217, the international standard for currency codes, specifies that the currency code for Bitcoin is XBT.
It is important to note that not all exchanges use XBT as their ticker for Bitcoin. The most popular exchange, Binance, uses BTC as its ticker. However, the use of XBT is becoming more common, and it is likely that more exchanges will switch to using it in the future.
If you are unsure which ticker symbol to use for Bitcoin, it is always best to check with the exchange or trading platform that you are using.

Conclusion

XBT and BTC are both ticker symbols for Bitcoin. They are both in use and there is no difference between them. The BTC abbreviation was created by the Bitcoin community, and the XBT acronym was introduced by ISO as the international Bitcoin symbol. Ultimately, the decision of which ticker symbol to use is up to you.