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BTC
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| Satoshi | Philippine Peso | Bitcoin | Name |
|---|---|---|---|
| 1 Satoshi | 0.05358158 PHP | 0.00000001 | |
| 10 Satoshi | 0.53581584 PHP | 0.00000010 | |
| 100 Satoshi | 5.35815843 PHP | 0.00000100 | 1 Bit / μBTC (you-bit) |
| 1,000 Satoshi | 53.58158430 PHP | 0.00001000 | |
| 10,000 Satoshi | 535.81584299 PHP | 0.00010000 | |
| 100,000 Satoshi | 5,358.15842990 PHP | 0.00100000 | 1 mBTC (em-bit) |
| 1,000,000 Satoshi | 53,581.58429895 PHP | 0.01000000 | 1 cBTC (bitcent) |
| 10,000,000 Satoshi | 535,815.84298954 PHP | 0.10000000 | |
| 100,000,000 Satoshi | 5,358,158.42989540 PHP | 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 Philippine Peso currency, a Satoshi currently equals 0.05358158 PHP.
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 5.35815843 PHP in Philippine Peso.
- Millibitcoin (mBTC): 1 mBTC is equal to 0.001 Bitcoin, or 100,000 Satoshis, currently equivalent to 5,358.15842990 PHP in Philippine Peso.
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.