1 Satoshi = 0.00059018 SGD
1 Bitcoin = 59,017.75 SGD
|1 Satoshi||0.00059018 SGD||0.00000001|
|10 Satoshi||0.00590178 SGD||0.00000010|
|100 Satoshi||0.05901775 SGD||0.00000100||1 Bit / μBTC (you-bit)|
|1,000 Satoshi||0.59017753 SGD||0.00001000|
|10,000 Satoshi||5.90177533 SGD||0.00010000|
|100,000 Satoshi||59.01775329 SGD||0.00100000||1 mBTC (em-bit)|
|1,000,000 Satoshi||590.17753288 SGD||0.01000000||1 cBTC (bitcent)|
|10,000,000 Satoshi||5,901.77532884 SGD||0.10000000|
|100,000,000 Satoshi||59,017.75328843 SGD||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 Singapore Dollar currency, a Satoshi currently equals 0.00059018 SGD.
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 0.05901775 SGD in Singapore Dollar.
- Millibitcoin (mBTC): 1 mBTC is equal to 0.001 Bitcoin, or 100,000 Satoshis, currently equivalent to 59.01775329 SGD in Singapore 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.