1 Satoshi = 0.00061193 NZD
1 Bitcoin = 61,192.58 NZD
|Satoshi||New Zealand Dollar||Bitcoin||Name|
|1 Satoshi||0.00061193 NZD||0.00000001|
|10 Satoshi||0.00611926 NZD||0.00000010|
|100 Satoshi||0.06119258 NZD||0.00000100||1 Bit / μBTC (you-bit)|
|1,000 Satoshi||0.61192580 NZD||0.00001000|
|10,000 Satoshi||6.11925803 NZD||0.00010000|
|100,000 Satoshi||61.19258026 NZD||0.00100000||1 mBTC (em-bit)|
|1,000,000 Satoshi||611.92580263 NZD||0.01000000||1 cBTC (bitcent)|
|10,000,000 Satoshi||6,119.25802625 NZD||0.10000000|
|100,000,000 Satoshi||61,192.58026251 NZD||1.00000000||1 Bitcoin - BTC|
What is a Satoshi?
A Satoshi is the smallest unit of a Bitcoin, the most well-known and widely used cryptocurrency. It is named after the pseudonym of the Bitcoin's creator, Satoshi Nakamoto. Each Bitcoin is divisible to the eighth decimal number, meaning it can be divided into 100,000,000 Satoshis (one hundred million), which means that one Satoshi is equal to 0.00000001 Bitcoin.
In New Zealand Dollar currency, a Satoshi currently equals 0.00061193 NZD.
Use of Satoshis:
The small denomination of Satoshis allows for various forms of usage. The utilization of Satoshis is ideal for microtransactions, that is, transactions that involve small amounts of money, such as tips for content creators, payments for low-cost content, or transactions within blockchain-based applications.
In addition, the use of Satoshis can make Bitcoin transactions more comprehensible and easily readable, as instead of dealing with multiple decimals of a Bitcoin for small transactions, users can work with whole numbers of Satoshis.
Other Denominations of Bitcoin fractions:
Besides Satoshis, there are other denominations used to describe fractions of Bitcoin. These include:
- Microbitcoin (µBTC): 1 µBTC is equal to 0.000001 Bitcoin, or 100 Satoshis, currently equivalent to 0.06119258 NZD in New Zealand Dollar.
- Millibitcoin (mBTC): 1 mBTC is equal to 0.001 Bitcoin, or 100,000 Satoshis, currently equivalent to 61.19258026 NZD in New Zealand Dollar.
These larger denominations are also used in certain contexts, especially when transactions involve larger amounts of Bitcoin than just a few Satoshis but still less than a full Bitcoin.
The Satoshi, the smallest denomination of Bitcoin, plays a vital role in the economy of cryptocurrencies. It facilitates microtransactions and makes Bitcoin transactions more manageable and comprehensible. Along with other denominations like the microbitcoin and the millibitcoin, the concept of Satoshi denomination helps Bitcoin users in their everyday use more effectively.