Why is a satoshi considered the smallest unit of Bitcoin?

3 answers

• Dec 27, 2021 · 3 years ago
  A satoshi is the smallest unit of Bitcoin, named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. It represents one hundred millionth of a Bitcoin, or 0.00000001 BTC. The choice of using satoshis as the smallest unit is practical because it allows for greater precision in transactions and calculations. It also helps to facilitate microtransactions, where even small amounts of Bitcoin can be sent and received. Overall, the use of satoshis as the smallest unit enhances the usability and flexibility of Bitcoin as a digital currency.
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• Dec 27, 2021 · 3 years ago
  Satoshi is considered the smallest unit of Bitcoin because it allows for greater divisibility and precision in transactions. With one Bitcoin being equivalent to one hundred million satoshis, it enables users to transact with even the tiniest fractions of Bitcoin. This is particularly important as the value of Bitcoin continues to rise, making it necessary to have a smaller unit for everyday transactions. Satoshi's name was chosen to honor the creator of Bitcoin and to pay homage to the origins of this revolutionary digital currency.
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• Dec 27, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recognizes satoshi as the smallest unit of Bitcoin. The use of satoshis allows for greater flexibility in trading and investing, as users can transact with smaller amounts of Bitcoin. This is especially beneficial for those who want to enter the cryptocurrency market with limited funds. By using satoshis, BYDFi aims to make Bitcoin more accessible to a wider range of users and promote the adoption of digital currencies.
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