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Convert Satoshi to Naira NGN - Satoshi Nigerian Naira Calculator

Satoshi
₦ NGN
Satoshi BTC

Convert Nigerian Naira to Satoshi

₦ NGN
Satoshi
Important: Comma separates thousands and millions, and point separates decimals.
Bitcoin BTC

Current Bitcoin / Satoshi Price Nigerian Naira

1 Satoshi = 1.62766872 NGN

1 Bitcoin = 162,766,871.89 NGN

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Convert Satoshi to NGN Naira and NGN to Satoshi

Satoshi BTC

Satoshi & Bitcoin to Nigerian Naira Conversion Table

Satoshi Nigerian Naira Bitcoin Name
1 Satoshi 1.62766872 NGN 0.00000001
10 Satoshi 16.27668719 NGN 0.00000010
100 Satoshi 162.76687189 NGN 0.00000100 1 Bit / μBTC (you-bit)
1,000 Satoshi 1,627.66871887 NGN 0.00001000
10,000 Satoshi 16,276.68718872 NGN 0.00010000
100,000 Satoshi 162,766.87188724 NGN 0.00100000 1 mBTC (em-bit)
1,000,000 Satoshi 1,627,668.71887243 NGN 0.01000000 1 cBTC (bitcent)
10,000,000 Satoshi 16,276,687.18872429 NGN 0.10000000
100,000,000 Satoshi 162,766,871.88724285 NGN 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 Nigerian Naira currency, a Satoshi currently equals 1.62766872 NGN.

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 162.76687189 NGN in Nigerian Naira.
  • Millibitcoin (mBTC): 1 mBTC is equal to 0.001 Bitcoin, or 100,000 Satoshis, currently equivalent to 162,766.87188724 NGN in Nigerian Naira.

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.