In the same way that a dollar is divided into 100 cents and a ruble into 100 kopecks, Bitcoin is divided into 100 million parts, which are called «satoshi». The answer to the question «how many satoshi in a bitcoin» is 100 million. This figure is unchangeable, and 1 bitcoin in satoshi is worth 100,000,000.
Hence, bitcoin consists of two «official» units, one of which is called «satoshi» and the other is Bitcoin, its stock abbreviation (ticker) is BTC.
Other names of «parts» of bitcoin are common among cryptocurrency users. For example, one ten-millionth Bitcoin (10 satoshi) is called finney, in honor of scientist Hal Finney, who received the first transaction of BTC.
100 satoshi (one millionth of a bitcoin) is called «micro bitcoin» μBTC, and 100,000 satoshi (1 thousandth of a bitcoin) is called «million bitcoin» mBTC.
Satoshi - what is it in simple words
The question arises: «Why does bitcoin need to be divided into as much as 100 million Satoshi, when, for example, a dollar or ruble is divided into only 100 parts?». The answer lies in the essence of bitcoin economy, adopting only a few hundred Satoshi as the minimum reward for work. 1 satoshi represents one 100-millionth of a bitcoin. Mathematically it looks like this - 0.00000001 VTC. In the context of bitcoin, it means the same as a cent in the dollar, a kopeck in the ruble. It is the smallest indivisible particle of bitcoin.
The value of a single bitcoin is not insignificant, amounting to several tens of thousands of dollars. If you have 1 BTC in your wallet account and need to send, for example, one thousandth of the available unit, the transaction is carried out in satoshi. This means that any amount can be transferred in the system. There is a transaction fee when transferring in the system.
Why it's called a Satoshi
Bitcoin had only two official units.
- Bitcoin is briefly called BTC.
- Satoshi is briefly called Sat and the plural form of Satoshi, which is often abbreviated, is called Sats.
Satoshi (0.00000001 ฿) takes its name from Bitcoin author Satoshi Nakamoto. In addition to Satoshi, many in the Bitcoin community have suggested naming the second smallest Bitcoin denomination, «Finney»(«Finney»).
1 Finney is equal to 10 Satoshi, which equals 0.00000010 BTC.
The name Finney («Finney») is a reference to Hal Finney, a computer scientist who was an early Bitcoin user who received the first BTC transaction from its founder Satoshi Nakamoto.
Satoshi is officially the smallest unit, there are «millisatoshi» («millisatoshi»), which is one thousandth of a Satoshi or a hundred billionth of one Bitcoin.
Bitcoin - units are usually expressed in decimals like BTC, mBTC, µBTC etc. Because of the high cost, the transaction involving the whole Bitcoin is not so common and you may wonder what to call 0.01 BTC or 0.001 BTC. Bitcoin - the Bitcoin exchange rate is usually called BTC or 0.001 BTC.
Satoshi exchange rate
Bitcoin is «bouncing » relative to currency money. In order to convert Satoshi to rubles or dollars, for example, it is necessary to consider a single example.
How to translate satoshi into rubles
So, at the moment of translation and calculation of 1 bitcoin in rubles and dollars you need to define the rate of 1 bitcoin. If 1 BTC will cost 60,000 dollars or 4,440,000 rubles (the rate of 1 dollar is 74 rubles), then 1 satoshi will cost 0.0444 rubles, and 100 satoshi - 4.44 rubles. Taking as the basis the same exchange rate and calculating satoshi exchange rate in dollars we will get the following: 1 satoshi equals $0.00060, and 10,000 satoshi equals $6.
1 satoshi in rubles is worth 4 kopecks. This is the reason for setting the acceptable values for exchanging 10,000 Satoshi and more. Exchange operations of small amounts are made similarly to whole bitcoins, i.e. to all electronic and real currencies. It can be WebMoney, QIWI, bank transfer, plastic card.
Many exchanges and cryptocurrency exchangers publish rates of Satoshi and Bitcoin separately, so that users and customers can conveniently use the service and quickly calculate the exchange rate.
Where to use Satoshi
Satoshi have been very popular with Bitcoin Cranes, which are services that allow people to earn some coins, simply by being on their site.
But they do not pay «just for visits» a lot, so it is possible to get tens and more rarely hundreds of satoshis per one visit. If bonuses were specified in fractions of bitcoin, then it would be difficult for people to understand how many they will get in the end (you will be tired to count zeros after decimal point).
Beneficial cranes that give satoshi away:
- FreeBitcoin
- Free Dogecoin
- Bonus Bitcoin
- BitFun
- Moon Bitcoin
- Moon Dogecoin
- Moon Litecoin
- Moon Dashcoin
- Moon Cash
- Daily Free Bits
Best online Satoshi games
A less popular but profitable way to earn coins is through browser games with satoshi prizes. There are two ways to earn money: with or without investment.
If a game requires a deposit, think carefully before paying and read the reviews of the game carefully. You're risking your money.
The algorithm for earning money is simple. You get or buy Satoshi for free, then use them to play. If you win, the amount increases, if you lose you lose the amount you put in. The algorithm is simple.
Popular games:
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Title |
Description |
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Primedice |
The user receives 150 satoshis when he signs up. After that, they can double or lose them. The interface is clear, the game process is simple. |
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Bitkong |
Popular game with a withdrawal of money, no investment. The essence of the game is to choose one of the three cells and do not get an empty one. After registration, the account is credited with a bonus, free satoshi is also available. |
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BoxBitcoin |
There are 10 prize chests to choose from. You need to choose one. You can earn money without investing. |
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FreeBitcoin |
Get the satoshi for free, after that there is an opportunity to win or lose with the more-less game. | FreeBitcoin | |
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Chopcoin |
Dynamic game, the goal is to grow a ball larger than others by absorbing smaller balls. You can play without investing. |
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Stake |
A selection of Satoshi gambling games. There is a tap, which makes it possible to play without investing. Russian language option is available at the bottom of the site. |
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Tomygame |
Tomygame based on the cartoon Tom and Jerry, no investment. |
Of course, these are not all services with which you can earn satoshi on games, but you have to be careful with earning from such sites. They often have short lifespans and not everyone has time to withdraw their money. For example, the game celsel used to be popular, but now the site is not working and the players who did not have time to withdraw money left with nothing.
Accumulating Satoshi on your phone
IOS and Android app developers are keeping up with the trends and also release programs that allow you to earn cryptocurrency on your phone. And the software is diverse.
Spoiler: you won't be able to make much money with the help of mobile applications. All you can count on is a couple of dollars for a decent amount of time you spend.
Many of the apps are scams that will make money on ads (and sometimes user investments) and won't pay out any money. We've tried to collect the best apps based on user reviews and overall ratings. The apps we have collected will give you an understanding of how to earn "satoshi" on Android.
|
Application name |
Description |
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MinerGate |
Application of the famous mining pools website. Allows to mine cryptocurrency using a cell phone. The user can chat with other participants, monitor prices, and buy cloud capacity to increase profits. |
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Hashflare |
Hashflare allows you to connect to cloud-based cryptocurrency mining via mobile. Mining power needs to be purchased (from $2.2). In addition to Bitcoin, you can earn Ethereum, Zcash and Litecoin. According to the developers, all investments will pay back in six months. |
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Storm Play |
Storm Play is a crane that allows to earn satoshi. Feedback from users is positive, apparently, the earned money is paid. Of the disadvantages - the English-language interface. |
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TabTrader |
TabTrader is a trading terminal that allows the user to buy and trade cryptocurrencies on many exchanges. |
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Cryptonator |
Multicurrency wallet for buying and storing cryptocurrencies. Depositing and withdrawing money is easy. Russian-language interface. |
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ICO Alarm |
It allows you to monitor the market for ICO investments in real time. The mobile app will be useful for investors and anyone interested in blockchain, cryptocurrency and tokens. |
Of course, the Play Market showcases provide more variety. But you have to understand - many do not meet the requirements. And the main complaint is the lack of payouts. Carefully read user reviews (20-30 reviews, without advertising referral links and codes). After, you will realize that not all Android applications for collecting cryptocurrencies are worth even a little attention.
How to withdraw Satoshi and where
To withdraw Satoshi from an exchange or crane you need a Bitcoin wallet. There are 2 ways to set it up: downloading the official client to your computer and registering a wallet online.
Official client or “cold wallet” is the most secure option for storing coins. All keys will be on the user's computer as well as the complete block register since 2009. The owner of a cold wallet can not worry about the safety of his bitcoins, unless he himself loses his laptop or computer hard drive. In such cases, it is advisable to make backups.
A less secure but easier option for storing Satoshi is an online wallet. In order to create a wallet you need to register on a resource and get a unique key. The online wallet address can then be used to store and transfer coins. There is no need to store the blockchain on your computer (and it weighs about 150 GB), but the service can shut down and stop working, as has happened many times with online wallet sites. It will be technically impossible to get back the lost funds.
How to exchange Satoshi into Rubles
When you know what a Satoshi is, you can exchange it for rubles. The main thing is to find out where and how to do it.
Save special resources acting as exchangers:
- Exchange services. These are virtual units that exchange cryptocurrency for rubles. Their peculiarity is that they use their own rate, which does not always coincide with the official rate. More often, it is very different from the rate used on the exchange, and not in favor of the person who is trying to make the exchange.
- Exchanges. This is the safest, fastest and most honest way to exchange cryptocurrency for fiat money. Most of them are English-language, but considering that we are interested in exchange to rubles, it will be logical to find a Russian-language resource. So far the biggest of them is BTC-E (it has Russian-speaking technical support). In this service have high level of security, that attracts users to it.
- Transactions with cryptocurrency holders are the least secure way to do the transaction, transferring money from person to person. The system is anonymous, and if a person gets hooked on fraudsters, there is no way to get their money back. But there is no commission. You can find a potential partner on specialized forums.
But it is better not to take the risk and take advantage of secure transactions. But in the case of cooperation with certain exchanges or other resources, be careful. But it's better not to take risks with secured deals.
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