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base info Orchid

Orchid to Pound Sterling Converter and calculator

Convert 1Orchid (OXT) to Pound Sterling (GBP) equals £ 0.08386 | Bitget

GBP information

About the Pound Sterling (GBP)

What Is the Pound Sterling (GBP)?

The Pound Sterling, commonly known as the sterling or pound and abbreviated as GBP, is the national currency of the United Kingdom (including England, Scotland, Wales, and Northern Ireland), the Isle of Man, South Sandwich Islands, Gibraltar, South Georgia, and the British Antarctic Territory. It holds the distinction of being the oldest currency still in continuous use today. The symbol for the pound is £, and it is divided into 100 smaller units called pence.

GBP is the fourth most traded currency in the foreign exchange market, following the US dollar, the euro, and the Japanese yen. It is also part of the basket of currencies used by the International Monetary Fund (IMF) to calculate its special drawing rights. The Bank of England, the central bank of the UK, is responsible for issuing and regulating the pound. While banknotes are issued in England and Wales by the Bank of England, Scotland and Northern Ireland have their own banknotes, which are not governed by the Bank of England but are accepted throughout the UK.

What Is the History of GBP?

The term "pound sterling" originates from the Latin word "libra," denoting balance and weight. The pound coin was first introduced in 1489 during the reign of Henry VII. The Bank of England, established in 1694, began issuing pound notes shortly thereafter. These notes were initially handwritten. The pound operated in a complex system of shillings and pennies until 1971 when the decimal system was adopted. The UK allowed the pound to float freely in the currency market in 1971, letting market forces determine its value. Despite the introduction of the euro in 2002, the UK chose to retain the pound as its currency.

Notes and Coins of GBP

The pound sterling is available in various denominations. Banknotes are issued in £5, £10, £20, and £50 denominations, with some being printed on polymer for durability. Coins are minted in 1p, 2p, 5p, 10p, 20p, 50p, £1, and £2 denominations.

What Is a Quid?

"Quid" is a slang term commonly used in the United Kingdom to refer to the British pound sterling (GBP), the currency of the United Kingdom. Its exact origin is unclear, but the most accepted theory is that it derives from the Latin phrase "quid pro quo," meaning "something for something," often used in financial and legal contexts. Another less substantiated theory links it to the Royal Mint in Quidhampton, Wiltshire. Over time, "quid" has become synonymous with "pound" in everyday British vernacular, used in the same informal manner as "bucks" is for dollars in the United States. Notably, the term remains singular regardless of the amount, so one would say "twenty quid" instead of "twenty quids."

Why Is GBP Worth More Than USD?

The British Pound (GBP) often holds a higher value than the US Dollar (USD) due to a combination of historical, economic, and market factors, rather than a direct reflection of the respective economies' strength. Historically, the GBP was the dominant currency in foreign exchange, with £1 fetching more than $5 before World War I. As of January 2024, the GBP continued to exhibit strength, maintaining a value of over 1.25 USD. This resilience is evident even after significant events like the 2007–2009 financial crisis, where the GBP peaked at just over 2.00 USD but later stabilized to 1.40–1.45. The impact of Brexit in 2016 further influenced this dynamic, causing a sharp fall in the GBP from the 1.40–1.45 range to 1.20–1.25, and reaching a 30-year low of about $1.05 in September 2022. This trend reflects the relative economic conditions of the UK and the US, with the UK facing challenges from Brexit and the US economy showing improvement. The total circulation of GBP is also much lower than that of USD, contributing to its higher nominal value.

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Bitget crypto-to-fiat exchange data shows that the most popular Orchid currency pair is the OXT to GBP, with for Orchid's currency code being OXT. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for GBP.

OXT to GBP conversion rate trend

1D7D1M3M1YAll
In the past 1D, Orchid has changed +0.75% to GBP. Based on the trend and price charts, Orchid(OXT) has changed +0.75% to GBP while Pound Sterling(GBP) has changed % to OXT in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
£0.08441
0.0001% / 0.0004%vip-iconVIP
Binance
£0.08427
0.1000% / 0.1000%
Yes
OKX
£0.08411
0.080% / 0.100%
Yes
Huobi
£0.08427
0.1000% / 0.1000%
Yes
Gate.io
£0.08435
0.1000% / 0.1000%
Yes
KuCoin
£0.08435
0.1000% / 0.1000%
Yes
Last updated 2024/04/16 19:00:28(UTC+0)

What factors influence the conversion rate of Orchid to Pound Sterling?

Orchid to Pound Sterling is falling this week.
Orchid's current market price is £ 0.08386 per OXT, with a total market cap of £ 82,162,266.04 GBP based on a circulating supply of 979,779,140 OXT. The trading volume of Orchid has changed by -43.27% (£ -3,104,389.02 GBP) in the last 24 hours. Last trading day, OXT's trading volume was £ 7,173,880.14.
Market cap
$102.18M
24h volume
$5.06M
Circulating supply
979.78M OXT

Conversion tables

The exchange rate of Orchid is decreasing.
1 OXT is currently valued at £ 0.08386 GBP , which means buying 5 OXT will cost £ 0.4193 GBP . Similarly, £1 GBP can be traded for 11.92 OXT, and £50 GBP can be converted to 596.25 OXT, excluding any platform or gas fees.
The exchange rate of 1 OXT to Pound Sterling has changed by -28.49% in the last 7 days. In the last 24 hours, the rate has fluctuated by +0.75%, reaching a high of 0.08527 GBP and a low of 0.08021 GBP . One month ago, the value of 1 OXT was £ 0.1206 GBP , which represents a -30.35% change from its current value. Over the last year, Orchid has changed by
+£
0.01260GBP
, resulting in a change of +17.60% in its value.

OXT to GBP

Amount
19:26 today
0.5 OXT
£0.04193
1 OXT
£0.08386
5 OXT
£0.4193
10 OXT
£0.8386
50 OXT
£4.19
100 OXT
£8.39
500 OXT
£41.93
1000 OXT
£83.86

GBP to OXT

Amount19:26 today
0.5GBP5.96  OXT
1GBP11.92  OXT
5GBP59.62  OXT
10GBP119.25  OXT
50GBP596.25  OXT
100GBP1,192.49  OXT
500GBP5,962.46  OXT
1000GBP11,924.93  OXT
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Today vs. 24 hours ago

Amount19:26 today24 hours ago24h change
0.5 OXT$0.05214$0.05175
+0.75%
1 OXT$0.1043$0.1035
+0.75%
5 OXT$0.5214$0.5175
+0.75%
10 OXT$1.04$1.04
+0.75%
50 OXT$5.21$5.18
+0.75%
100 OXT$10.43$10.35
+0.75%
500 OXT$52.14$51.75
+0.75%
1000 OXT$104.29$103.51
+0.75%

Today vs. 1 month ago

Amount19:26 today1 month ago1M change
0.5 OXT$0.05214$0.07496
-30.35%
1 OXT$0.1043$0.1499
-30.35%
5 OXT$0.5214$0.7496
-30.35%
10 OXT$1.04$1.5
-30.35%
50 OXT$5.21$7.5
-30.35%
100 OXT$10.43$14.99
-30.35%
500 OXT$52.14$74.96
-30.35%
1000 OXT$104.29$149.92
-30.35%

Today vs. 1 year ago

Amount19:26 today1 year ago1Y change
0.5 OXT$0.05214$0.04431
+17.60%
1 OXT$0.1043$0.08862
+17.60%
5 OXT$0.5214$0.4431
+17.60%
10 OXT$1.04$0.8862
+17.60%
50 OXT$5.21$4.43
+17.60%
100 OXT$10.43$8.86
+17.60%
500 OXT$52.14$44.31
+17.60%
1000 OXT$104.29$88.62
+17.60%

FAQ

This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.