Can you explain the meaning of satoshis in relation to cryptocurrencies?

3 answers

• Dec 27, 2021 · 3 years ago
  Sure, I'd be happy to explain! Satoshis are the smallest unit of Bitcoin, the most popular cryptocurrency. They are named after Satoshi Nakamoto, the pseudonymous creator of Bitcoin. One Bitcoin is equal to 100 million satoshis. So, if you have 1 Bitcoin, you have 100 million satoshis. Satoshis are used to measure and transact smaller amounts of Bitcoin, similar to how cents are used to measure and transact smaller amounts of dollars. They are particularly useful for microtransactions and for expressing the value of Bitcoin in a more granular way. I hope that clears things up!
  583292
• Dec 27, 2021 · 3 years ago
  Absolutely! Satoshis are like the pennies of Bitcoin. Just like how there are 100 pennies in a dollar, there are 100 million satoshis in one Bitcoin. They are named after Satoshi Nakamoto, the mysterious person or group who created Bitcoin. Satoshis are used to measure and trade fractions of Bitcoin. For example, if you want to buy something that costs 0.001 Bitcoin, you would be paying 100,000 satoshis. It's a way to make Bitcoin more divisible and practical for everyday use. I hope that helps!
  500167
• Dec 27, 2021 · 3 years ago
  Of course! Satoshis are the smallest unit of Bitcoin, just like cents are the smallest unit of a dollar. One Bitcoin is equal to 100 million satoshis. They are named after Satoshi Nakamoto, the anonymous creator of Bitcoin. Satoshis are used to measure and transact smaller amounts of Bitcoin, making it easier to buy and sell goods and services with fractions of a Bitcoin. It's like using cents instead of dollars. So, if you have 0.001 Bitcoin, you have 100,000 satoshis. I hope that explanation makes sense!
  511128