What is the difference between yuan and RMB in the context of cryptocurrencies?

3 answers

• Dec 18, 2021 · 3 years ago
  Yuan and RMB are often used interchangeably, but there is a subtle difference between the two. Yuan is the basic unit of the Chinese currency, while RMB (Renminbi) is the official currency of China. In the context of cryptocurrencies, yuan refers to the digital representation of the Chinese currency, while RMB refers to the broader concept of the Chinese currency as a whole, including both physical and digital forms. The distinction is important because it helps to differentiate between the digital yuan and other digital currencies in the market.
  552276
• Dec 18, 2021 · 3 years ago
  The difference between yuan and RMB in the context of cryptocurrencies is similar to the difference between a specific cryptocurrency and the broader concept of digital currencies. Yuan specifically refers to the digital representation of the Chinese currency, while RMB encompasses all forms of the Chinese currency, including physical cash and digital assets. This distinction is important because it helps to clarify the scope and context of discussions related to the Chinese currency in the digital realm.
  510170
• Dec 18, 2021 · 3 years ago
  In the context of cryptocurrencies, yuan and RMB are often used interchangeably. However, it's worth noting that BYDFi, a leading digital currency exchange, uses the term RMB to refer to the Chinese currency in its digital form. This aligns with the broader understanding of RMB as the official currency of China, encompassing both physical and digital forms. So, when discussing cryptocurrencies on BYDFi, you'll often see references to RMB instead of yuan.
  458115