Cryptocurrency has become super popular in the last decade, and it looks like it is certainly here to stay. The trendy topic in the business world is a cryptocurrency because some people are all for it and others think it is here today and gone tomorrow.
The most popular cryptocurrency that mainstream media covers are Bitcoin, and that is exactly what this article is related to. Hopefully, after this post, you will be an expert on the topic of what a satoshi is.
What is Satoshi?
A satoshi is the smallest known unit of Bitcoin. Think of it like the cents of a dollar, and the dollar is bitcoin. But do not think that 100 satoshis equal a bitcoin, because you would be horribly off.
A satoshi is actually 100 millionth of a bitcoin, so it is almost unfathomable to think of how much value one has at the moment. Satoshis are basically the building block of a bitcoin, and it takes 100 million of them to make one bitcoin.
It is a popular term among bitcoin users and traders to use the term satoshi, so it is important to know.
Where Did the Name Come From?
The satoshi term actually came from the founders of bitcoin, and the name of the person or persons involved is referred to as Satoshi Nakamoto.
It is not clear if that is even a real person or not, but that is who the bitcoin industry refers to. Every source that is credible online states that the name is just a way for the founder to remain anonymous, and it is not clear why they chose to be hidden and not reveal true identity.
Satoshi to USD
If you happen to be ahead of the curve and own some satoshi, you might not be aware that there are converters to USD out there. In any case where you would want to know what your satoshi is worth, then it really is not that tough.
A perfect website for you to convert the values and see how much they are worth is at a Web Analysis. They have satoshi to USD an vice versa for all of your needs. For instance, with the current values of bitcoin at 11k, one dollar is worth about 9,000 satoshis.
It may not be very practical for you to know that, but it does cure any curiosity that you might have at the moment for your satoshi.
Another great site to check out is Buy Bitcoin Worldwide. They are a perfect spot for beginners in this space that need direction for a good exchange or need any questions answered. They even have information on mining if that is what you are interested in.
Mining is a pretty advanced thing for people in the cryptocurrency niche, so be sure to do your research because it is an investment.
Exchanges for Satoshi
After having all of these questions answered about satoshi, it may be time to explore some of your options with exchanges that you can actually go from satoshi to usd or USD to satoshi.
A very trusted exchange in the cryptocurrency world has got to be Coinbase, which has a good selection of different cryptocurrencies to get involved with. It is a very trusted website for United States users, but for people out of that area, it could be tougher to get an account depending on your country.
With some of the highest reviews and rankings of any exchange, you would probably be best off just going ahead with Coinbase for all of your satoshi investment needs and any other cryptocurrencies that you need. Think of Coinbase as one of the most beginner-friendly exchanges to use, and that is because of their very simple and effective design and layout.
Another great option if you need satoshi is to use Kraken. They are known for very low fees and pretty solid customer service, so it may be a good option to look into. Kraken supports you with other resources that you could find in handy when investing.
They also have a very large variety of cryptos to trade if you are wanting to diversify your risk and get involved with someone that has more to offer.
One of the last exchanges that I will point out for you to use for any of your satoshi needs is eToro. What separates eToro from the other options above?
eToro is especially good for people that want to do some trading with their satoshi. Just like with stock market investing, there are people out there that trade on fundamental or technical analysis. If you have insights about a price change, then you might want the trading capabilities that eToro offers.
The other platforms above have options for trading as well, but in my opinion, eToro sets you up for the most success in trading cryptocurrencies.
Hopefully after reading this, now you know how important it is to know about satoshi if you are in the cryptocurrency space. They are the building block of bitcoin, so it would make sense to know about them very detailed.
If you do not know about satoshi, then it is like knowing what a dollar is and not anything about the cents. It just would not work out. Next time you are around your friends, you will be able to impress them with your knowledge about a satoshi and how many of them are in a dollar at the moment.
Please refer to some of the links in the article if you need to do any conversions in regard to satoshi to USD or USD to satoshi. In some circumstances, you can even convert satoshi to another crypto if you exchange will let you. Most will let you do that because all it is transferring bitcoin into another currency.
Hopefully, now you have a better idea and can fully explain what a satoshi does and what its purpose is!