👤What is Satoshi?

Satoshi is the smallest unit of BTC currency. Each of the 21 million BTC units that exist can be divided into 100,000,000 satoshis.

Why do people use satoshi instead of just using BTC?

People use satoshi when referring to smaller amounts of BTC. This provides users with higher precision when sending or receiving microtransactions in BTC.

Small transactions: Satoshi allows people to transact very small amounts of BTC. From sending a small amount of BTC to friends to buying a cup of coffee with BTC, satoshi makes using BTC for everyday payments easier. Price precision: As the value of BTC increases, the price of goods and services in BTC may require several decimal places. For many people, handling too many decimals may feel inefficient and confusing. Satoshi is a more convenient way to represent smaller values of bitcoin without dealing with too many decimal places. Psychological barrier: Satoshi is a more user-friendly measure for newcomers to the crypto market. It also serves as a good reminder that you don't have to buy an entire BTC to participate in crypto. Educational purpose: When explaining the concept of BTC or other cryptocurrencies, using satoshi can be helpful to illustrate how each BTC can be broken down into smaller units. Satoshi can be a simpler way to understand the concepts of divisibility and scarcity in the BTC system. Rewards usage: Some apps and websites use satoshi for games, such as rewarding users with small amounts of BTC in the form of satoshis for completing certain tasks or activities. Testing and development: Developers and testers may use satoshi in their applications to test transactions and various functionalities without dealing with a significant amount of real BTC.