Investors don’t know if it represents a specific cryptocurrency or if it’s the same as a crypto token with a different acronym.
However, despite its use by professional traders, many experienced crypto investors still don’t know that XBT and BTC represent the same cryptocurrency.
XBT meets the requirements established for a ticker symbol by the International Standards Organization.
The confusion between these two ticker symbols is the result of people not knowing the history of Bitcoin’s development and not trading it internationally or being involved in Bitcoin derivatives and contracts for difference .
The Bitcoin blockchain causes its fair share of confusion because there have been a number of hard forks off the Bitcoin blockchain.
BTN is the ticker symbol for Bhutanese Ngultrum, the currency of Bhutan.
In short, the solution could be not to make the BTC ticker the international ticker symbol for Bitcoin.
The major difference between XBT and BTC is how they are used in the crypto trading marketplace.
Some cryptocurrency exchanges first supported XBT as the flagship cryptocurrency’s ticker symbol, with Kraken being a well-known example.
XBT can be found on popular crypto exchanges, like PrimeXBT, Exodus, and BitMEX.
As a crypto investor, you are expected to keep your private keys in a safe, secure place.
Most notably, XBT is mostly used for the international trade of Bitcoin and when crypto enthusiasts invest in derivatives and CFDs.