Associated Press Adds guidelines on Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Dogecoin in its latest Stylebook
New York-based nonprofit Associated Press has recognized four Cryptocurrencies in its latest entry.
The AP Stylebook is referred by journalists, academics, and authors as an English grammar guide and a standard user guide, AP has come up with new guidelines for Crypto. In its latest entry, AP urges not to use “Crypto” for Cryptocurrencies and recognizes four Cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Dogecoin.
The word “Crypto” was previously used to refer to Cryptography, but the rising popularity of Cryptocurrencies has taken over the word to mean Cryptocurrencies in the media. AP urges to avoid using Crypto and also distinguishes between Virtual currencies and Cryptocurrencies, AP writes:
“A type of digital money that uses encryption technology to make it secure. Avoid using the shorthand crypto, which can be confused with cryptography. Cryptocurrency is not the same as virtual currency, which is used in virtual worlds such as online games.”
AP also points out another detail in its stylebook about the use of lowercase and uppercase letters in Bitcoin and other Cryptocurrencies:
“Capitalize when referring to Bitcoin and other currencies as a system, but lowercase when referring to their use as payment: The government wants to regulate Bitcoin, Ethereum and other cryptocurrencies. He bought a vacuum cleaner online using bitcoins.”
Capitalize when referring to Bitcoin and other currencies as a system, but lowercase when referring to their use as payment: The government wants to regulate Bitcoin, Ethereum and other cryptocurrencies. He bought a vacuum cleaner online using bitcoins. #APStyleChat (2/2)
— AP Stylebook (@APStylebook) May 29, 2019
The word “Cryptocurrency” is often used to refer almost all the tokens on Coinmarketcap, but the fact is that most of these tokens are not trying to actual currencies. These are merely digital assets whose value is determined by the users, the use of the word Cryptocurrencies is confusing to people new to Crypto. There are very few actual Blockchain networks like Bitcoin (BTC), Litecoin and Monero that are actually trying to be money for the world.
The Crypto community was not pleased by the news as the word “Crypto” is much more convenient to use compared to “Cryptocurrency”.
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