Are you new to the cryptocurrency world and feeling a bit lost? Don't worry, you are not alone. The cryptocurrency space can be daunting for newcomers, with its many terms, abbreviations and definitions that can be difficult to understand.
ATAIX crypto glossary will help make sense of some of the most common cryptocurrency terms and definitions. Armed with this information, you'll be ready to start participating in this exciting and innovative new economy!
What is Satoshi (SATS) in Cryptocurrency?
Satoshi is the smallest unit of Bitcoin that can be sent on the network. 1 Satoshi = 0.00000001 BTC.
Most people refer to bitcoins as "bits" with 8 decimal places, so 1000000 bits = 1 bitcoin. However, the term "satoshi" is more accurate because it's the smallest possible unit of Bitcoin.
You may see the term "satoshis" used instead of "satoshi". This is simply because there are 1000000 satoshis in 1 bitcoin.
When prices go up or down, you'll often see it reported in terms of satoshis instead of bitcoins. For example, if the price of Bitcoin goes from $4000 to $4100, that would be a 1% increase in satoshis, not dollars.
SATS is the symbol for Satoshi and is often used in exchanges and wallets.
Satoshi takes its name from Satoshi Nakamoto, who is the inventor of BTC.