Theoretically, the choice of sign for the cryptocurrency should not be anything complicated. A Fiat currency popularized unified style: the letter is crossed by one or more lines that supposedly symbolizes the stability of the currency. This design is used around the world: symbols Euro, pound, yen, franc and the dollar is instantly recognizable to almost everyone.
But in the world of cryptocurrencies to follow this style is not so simple. Hundreds of different cryptoprocta compete for similar identity, which many segments of the industry are ignoring all symbols except most popular. However, many cryptoprocta use different strategies to achieve recognition.
Bitcoin borrowed currency symbol
Sign of Bitcoin ₿ – undoubtedly the most recognizable symbol of the cryptocurrency. This original design was used in the logo of Bitcoin since 2010, and in 2016 was finally added to Unicode. Because of this, users became easier to type (or copy and paste) the mentioned symbol.
Of course, ₿ used by exchanges and market aggregators (ratings), but it was also integrated into popular software. The sign was attached to Microsoft Excel and keyboard for iOS from Google. Such inclusion may seem trivial, but they are indicative of the growing recognition.
However, the path to the standard symbol was long. Previously, as a currency symbol, Bitcoin was used the sign of Thai baht ฿. We already wrote about this in more detail. Confusion particularly arose because the conversion of bitcoins to dollars is rare.
Other projects that borrowed signs Fiat money, approach the task creatively. Tether uses the sign of the Mongolian Tugrik (₮), but combines it with the currency code: USD₮. Cardano, meanwhile, uses the sign of the Argentine Austral (₳), which is not a problem, as the original currency does not exist for more than two decades.
Litecoin uses pseudovalues symbol
There are easier ways to avoid repetition. Many signs remind currency symbols, but actually never used as such. Litecoin, for example, has appropriated the letter Ł, found in Polish and other West Slavic alphabets.
Since Litecoin is less popular than Bitcoin, the symbol Ł is used not so often. Most of the sites when you specify the amounts in lytkino just use the Ticker LTC. However, some, including market aggregator CryptoCompare, use the symbol Ł.
Other coins also found similar syntax. Lisk uses Ⱡ, Dogecoin – Ð and Reddcoin – Ɍ. Hedera Hashgraph for your coins HBAR ℏ uses, and some users of Bitcoin use Ƀ as an alternative to the symbol of the bat. None of these characters does not mean Fiat currency, so it’s reasonable and unambiguous approach.
The symbol of Ethereum without strikethrough
The Ethereum uses the sign of Ξ in 2014. In fact, this is the Greek letter “ksi”, but it resembles a stylized “E” so it was the obvious choice for Ethereum. Also noteworthy was the absence of “strikethrough” that is a departure from the standard specified currencies.
The symbol Ξ is frequently, though not universally, used in the Ethereum ecosystem. Among the sites that use Ξ to denote amounts in the air, the market aggregator CoinGecko, a platform for trading unique digital goods directory OpenSea and decentralized applications DAppReview.
Characters wave and use other currencies. Monero uses ɱ, Tezos – ꜩ, and zcash for – ⓩ. Although it is a beautiful and stylized characters, not the fact that people unrelated to kryptomere, will instinctively know them currency symbols, as previously warned critics in the discussion of alternative symbols for Ethereum.
The original design is Stellar
Some cryptocurrencies use a fresh approach to their characters. Stellar in 2018 has developed its own currency symbol, resembling a dollar sign and the rings of Saturn. Or, as described by Stellar, he “resembles a planet and at the same time the coin”.
Unfortunately, this symbol is rarely used outside the Stellar website, marketing materials and paraphernalia. Because the symbol is not yet represented in Unicode, it cannot appear in the text. Sites wishing to use the symbol, are forced to rely on the picture that is not always practical.
Despite the shortcomings, other coins have also attempted to develop an original design. MakerDAO in a recent update introduced a new character for Dai, and the community XRP is considering two candidates of characters. These projects may be difficult to standardize their signs, but if they succeed, they will have a very strong brand identity.
What you need for the success of a cryptocurrency?
To assess the influence of different design styles on the popularity of difficult. Cryptocurrency symbols that appear on popular sites, not necessarily actively used by people on a daily basis. On the other hand, encouraged by disputes between the concerned people do not warrant the recognition of the character exchanges and market aggregators.
However, some factors seem to be important. Projects are often looking for characters that are clearly associated with the currency, which resemble an existing logo, or are already represented in Unicode. This is true regardless of whether you choose a symbol of the community or the developers, or drawn by an independent contractor.
Although each cryptocurrency project coming to its decisions intelligently, we should not ignore practical issues. Having a high rating and proven cryptocurrencies somehow more successful. Of course, the marks of a successful coin, the default is usually more recognizable – no matter how they argue.
In our cryptodata of hontarov you will find lots of other useful information. And go to Yandex Zen, of course.
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