What is satoshi

What is a satoshi?

A Satoshi is the smallest existing unit of Bitcoin. If you share 1 Bitcoin 100 million times, you get a Satoshi. The Satoshi value is used in the blockchain during the processing of Bitcoin transactions. The amount of Bitcoin to be transferred is given in satoshi before it is issued. This enables a particularly precise representation of the amount, since it is given in the smallest possible form. The satoshi became named after the Bitcoin inventor Satoshi Nakamotowhose identity is still unknown to this day.

1 bitcoin is how many satoshi?

1 Bitcoin is exactly 100,000,000 Satoshi. Due to this relatively simple conversion, the respective value can be determined quickly: A Satoshi is 0.00000001 BTC. The conversion factor is 100 million in each case. You can also convert satoshi to fiat currencies: at the time of this writing, 1 satoshi is worth about $ 0.00003972. How small the unit is becomes particularly clear when it is represented as fiat money.

How can I earn satoshi?

If you want to earn Bitcoin, and therefore Satoshi, you have several options available. On the one hand, there is the option of Bitcoin mining, in which you are rewarded for providing computing power with portions of BTC. These can also be given in satoshi. Cloud mining is often a cheaper and more profitable alternative. On the other hand, there is the option of Bitcoin trading. If you score points here with a sophisticated strategy, you can earn satoshi as well. Some websites also promise you to receive cryptocurrency for answering surveys and gaming tests. Whether this is worthwhile and serious depends on the respective case.

How is the Satoshi Course?

A Satoshi course does not exist in this way. Since the value is tied to Bitcoin as one hundred millionth BTC at any time, only the Bitcoin price is of importance. For example, if you look at the BTC / USD currency pair, 1 BTC is currently worth $ 3,969.97. Accordingly, we come to a Satoshi value of 0.00003970. You only divide the bitcoin amount by 100,000,000. A change in value only happens when the Bitcoin value rises or falls.

How much Satoshi do I get for 1 Euro?

Currently 1 Bitcoin is exactly € 3,474.80. Accordingly, € 1 is currently worth 0.00028779 BTC. This Bitcoin value is multiplied by 100 million to arrive at the desired Satoshi sum. The calculation looks like this:

BTC amount * 100,000,000 = Satoshi amount

0.00028779 BTC * 100,000,000 = 28,779 Satoshi

For just € 1 you would have received 28,779 satoshi in mid-February. Conversely, for 1 satoshi you received a dwindling amount in euros.

Do I need a wallet for Satoshi?

Basically, you need a crypto wallet to store Bitcoin. If you trade on an exchange, there is no way around a wallet. The only way to bypass a wallet is through CFD trading. With this you speculate on the course of a currency and do not need a wallet, as you never physically own the coins. All payments are to be made in fiat currencies. In contrast, you receive physical coins on exchanges, mining and Bitcoin Faucets, which must be kept in wallets. Hardware wallets, which only have internet contact when carrying out a transaction, are particularly secure.

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Is there a satoshi converter?

There are various Satoshi converters that make calculations easier and relieve your pocket calculator. On satoshitobitcoin.co you have about four conversion options available: Satoshi to BTC, BTC to Satoshi, BTC to USD and Satoshi to USD. If you are looking for more choice, you can also convert to euros and various other currencies around the world on bestchange.com. The most famous digital currencies, for example Satoshi in Litecoin or Satoshi in Dogecoin, are also offered here. Various other websites offer similar converters for free use.