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Convert Satoshi to Naira NGN - Satoshi Nigerian Naira Calculator

Satoshi BTC

Convert Nigerian Naira to Satoshi

Important: Comma separates thousands and millions, and point separates decimals.
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Current Bitcoin / Satoshi Price Nigerian Naira

1 Satoshi = 1.04704100 NGN

1 Bitcoin = 104,704,099.55 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 1.04704100 NGN 0.00000001
10 Satoshi 10.47040995 NGN 0.00000010
100 Satoshi 104.70409955 NGN 0.00000100 1 Bit / μBTC (you-bit)
1,000 Satoshi 1,047.04099549 NGN 0.00001000
10,000 Satoshi 10,470.40995492 NGN 0.00010000
100,000 Satoshi 104,704.09954918 NGN 0.00100000 1 mBTC (em-bit)
1,000,000 Satoshi 1,047,040.99549179 NGN 0.01000000 1 cBTC (bitcent)
10,000,000 Satoshi 10,470,409.95491793 NGN 0.10000000
100,000,000 Satoshi 104,704,099.54917927 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 1.04704100 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 104.70409955 NGN in Nigerian Naira.
  • Millibitcoin (mBTC): 1 mBTC is equal to 0.001 Bitcoin, or 100,000 Satoshis, currently equivalent to 104,704.09954918 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.