What is the definition of satoshis in the context of cryptocurrencies?

3 answers

• metayetiFeb 26, 2024 · a year ago
  Satoshis are the smallest unit of Bitcoin, named after its creator Satoshi Nakamoto. Each Bitcoin can be divided into 100 million satoshis. It's like dividing a dollar into cents. Satoshis are used to measure and transact smaller amounts of Bitcoin, especially when the value of Bitcoin is high. For example, if the price of 1 Bitcoin is $50,000, you can still buy or sell a fraction of a Bitcoin using satoshis. This makes Bitcoin more divisible and accessible to everyone.
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• Owen GenzlingerDec 08, 2023 · 2 years ago
  Satoshis are like the pennies of Bitcoin. Just as 100 pennies make a dollar, 100 million satoshis make 1 Bitcoin. They are the smallest unit of Bitcoin and allow for microtransactions. Satoshis are important because they enable people to transact with smaller amounts of Bitcoin without having to deal with whole numbers. This flexibility makes Bitcoin more practical for everyday use and encourages adoption and usage of the cryptocurrency.
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• Hao WangFeb 17, 2024 · a year ago
  In the context of cryptocurrencies, satoshis refer to the smallest unit of Bitcoin. Each Bitcoin is divisible into 100 million satoshis. This division allows for greater precision in transactions and makes it easier to transact with smaller amounts of Bitcoin. Satoshis are named after Satoshi Nakamoto, the pseudonymous creator of Bitcoin. By using satoshis, individuals can transact with fractions of a Bitcoin, which is particularly useful when the price of Bitcoin is high. It also helps to make Bitcoin more inclusive and accessible to a wider range of users.
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