‘Satoshi – What is it and how much is it worth?’

What is Satoshi? To answer this question, we must first discuss what Satoshi is closely associated with, which is the most popular cryptocurrency in the world, Bitcoin.

In simplest terms, a satoshi is the smallest unit of Bitcoin. One Bitcoin can be divided into satoshi units (abbreviated as sato), with each unit equal to 0.00000001 Bitcoin (₿) – eight decimal places. Therefore, one Bitcoin is equal to 100 million satoshi.

The name “satoshi” is derived from the creator of Bitcoin, who was named Satoshi Nakamoto.

The value of Bitcoin has been rising for many years, and at the time of writing this text, it is reaching around a quarter million Polish zloty. For most people, purchasing a single Bitcoin coin for 250,000 PLN sounds at least abstract. However, it is worth noting that fractional parts of Bitcoin, namely satoshi, can be purchased. Assuming that one Bitcoin costs 250,000 PLN, one satoshi is worth only 0.25 grosz, which means that one zloty can buy 400 satoshi, and that sounds a bit better, at least psychologically.

With the current surge in prices, it is not unlikely that we will eventually use satoshi instead of Bitcoin in our everyday transactions because it has a more accessible value for the average person. It is also worth mentioning that at the beginning of 2009, one Bitcoin was worth only about 40 groszy. Calculate how much money you would have now with the current BTC valuation if you had invested, for example, 10 PLN back then.

By the way, if you want to try your hand at investing in cryptocurrencies, I recommend using the cryptocurrency exchange that I personally use, which has Polish origins – zondaglobal (link). It used to be called BitBay. Just remember to educate yourself thoroughly before any investment and never invest more than you can afford to lose in the worst case scenario.


Posted

in

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *