World Currency & Cryptocurrency Symbols | Full List of Names, Country, Codes and Symbols
We all recognize the dollar sign, but what about other currencies? There are 180 fiat currencies in circulation across 197 countries worldwide, each with its own distinctive code and sign, or more precisely, symbol. These codes facilitate writing in the same way numerals do. Instead of penning "two thousand," we write "2,000" or even "2k." Similarly, "American dollar" can be replaced with "$," and so on. Wherever there are prices or monetary amounts, we encounter currency symbols. The same holds true for cryptocurrencies, which also have logos, symbols, and codes.
This article aims to provide basic definitions related to currency, including names, symbols, and a list of these symbols. This way, you can readily locate the symbols and codes for your currency of interest.
- What is Currency?
- Currency Names, Country, Codes and Symbols
- What is Cryptocurrency?
- Cryptocurrency Names, Codes, Symbols and Other Info
- FAQs
What is Currency?
Currency is a standardized form of money that serves as a medium of exchange and a store of value. Every currency is issued and regulated by its government and carries a face value that is legally accepted within a specific jurisdiction. Currencies exist in physical form as paper bills and metal coins. Although the terms money and currency are often used interchangeably, each currency represents a unique instance of money. More importantly, currency is a tangible form of money.
The value of a currency is not fixed; it fluctuates relative to other currencies. Some currencies are pegged to the value of the American dollar.
Currencies, or money in general, aren't the only medium of exchange. For example, bartering is still utilized for various reasons. Nevertheless, the supremacy of money as the primary medium of exchange is undisputed. In the 21st century, a novel means of payment known as cryptocurrency emerged. We will delve into it in a separate section.
Currency Names, Country, Codes and Symbols
Usually, we don't need to recognize most currency symbols, nor do we need to know the names of most currencies and the countries they circulate in. Knowledge of foreign currency names and symbols becomes crucial when traveling to foreign countries, transferring money abroad, or purchasing items online from overseas sellers. Additionally, professionals in the global financial sector must be familiar with various codes and symbols.
Some symbols are placed before the amount ($50), a common practice in English-speaking countries. In other nations, the symbol may appear after the amount (50€). In a few countries, the symbol is placed after the first decimal (44$00).
To gain or verify knowledge about the name, country, symbol, and code of a specific currency, we recommend consulting the comprehensive list provided below.
The European Currencies
The North and South American Currencies
The African Currencies
The Currencies of Asia and the Pacific Region
The Middle East Currencies
What is Cryptocurrency?
Cryptocurrency is digital money based on blockchain or other types of decentralized ledgers. As of 2023, there were over 23,000 cryptocurrencies in existence, including Bitcoin, Ether (also known as Ethereum), Dogecoin, and USDT. Cryptocurrencies have garnered both a considerable following and criticism as an evolving phenomenon.
Nonetheless, different governments worldwide have varying attitudes towards cryptocurrencies. In some countries, cryptocurrencies are banned, while others permit experimentation with the new technology. El Salvador became the first country to legally equate Bitcoin with the American dollar, its primary currency.
Cryptocurrencies lack a physical form. In design, they generally consist of blocks of encrypted data indicating ownership of a certain amount of that cryptocurrency. These blocks are recorded in a decentralized digital ledger, often a blockchain. Different blockchains employ varying consensus mechanisms to ensure the security and validity of the data. People store and operate their cryptocurrencies via cryptocurrency wallets.
The first cryptocurrencies, including Bitcoin and Ether, were based on Proof-of-Work, meaning that validators of transactions had to solve a computational puzzle on their devices to generate a valid hash of the new block of transactions. As the Bitcoin network expanded, the resources required for these calculations escalated, leading to substantial energy consumption and environmental impact. This was one of the reasons why most new cryptocurrencies adopted Proof-of-Stake or other protocols that don't require mining (the validation process in Proof-of-Work networks).
Cryptocurrencies are employed for various purposes: online shopping, payments, salaries, and even gambling. Some individuals use cryptocurrencies as a store of value. For example, during the early weeks of the 2020 pandemic in the USA, many people invested their stimulus checks in crypto. One of the most significant uses of cryptocurrency is trading. The cryptocurrency market has spawned a new generation of traders who were initially drawn to cryptocurrencies and had no previous experience in the stock market. Nonetheless, traditional market traders have also shown interest in this burgeoning asset class.
Cryptocurrency Names, Codes, Symbols and Other Info
Like traditional currencies, cryptocurrencies have codes and symbols to simplify their identification.
FAQs
Who determines the currency codes?
The International Organization for Standardization (ISO) determines the currency codes.
Are symbols unique to specific currencies?
No, some symbols are shared by multiple currencies. Notably, the dollar sign is used by more than 20 countries.