What are the main differences between the yuan and the renminbi in the world of cryptocurrency?

3 answers

• Khedr Mo saidDec 09, 2020 · 5 years ago
  The main difference between the yuan and the renminbi in the world of cryptocurrency lies in their underlying technology. While the yuan is the official currency of China and is issued and controlled by the People's Bank of China, the renminbi is the broader term that encompasses both the physical currency and the digital representation of the currency in the form of cryptocurrencies. Cryptocurrencies like Bitcoin and Ethereum are often traded against the yuan, but not against the renminbi. Therefore, when it comes to cryptocurrency trading, the yuan is the more commonly used term.
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• Rose LiverpoolSep 10, 2020 · 5 years ago
  When it comes to cryptocurrency, the yuan and the renminbi are often used interchangeably. However, there is a subtle difference between the two. The yuan refers specifically to the physical currency, while the renminbi is a broader term that includes both the physical currency and the digital representation of the currency in the form of cryptocurrencies. In the world of cryptocurrency, the yuan is more commonly used as a trading pair against popular cryptocurrencies like Bitcoin and Ethereum.
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• Clear Eye Total Eye CareAug 09, 2024 · a year ago
  In the world of cryptocurrency, the yuan and the renminbi are often used interchangeably. However, it's important to note that the yuan is the official currency of China, while the renminbi is the broader term that encompasses both the physical currency and the digital representation of the currency in the form of cryptocurrencies. When it comes to cryptocurrency trading, the yuan is the more commonly used term, as it is often paired with popular cryptocurrencies like Bitcoin and Ethereum. Other cryptocurrencies may also be traded against the yuan, depending on the exchange.
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