What are sats in the world of cryptocurrency?

3 answers

• Feb 18, 2022 · 3 years ago
  Sats, short for satoshis, are the smallest unit of Bitcoin. They are named after Satoshi Nakamoto, the pseudonymous creator of Bitcoin. One Bitcoin is equivalent to 100 million sats. Sats are used to measure and transact smaller amounts of Bitcoin, similar to how cents are used for dollars. For example, if you have 10,000 sats, it means you have 0.0001 Bitcoin. Sats are becoming increasingly popular as a way to discuss and trade smaller amounts of Bitcoin, especially in the context of microtransactions and lightning network usage.
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• Feb 18, 2022 · 3 years ago
  Sats are like the pennies of Bitcoin. They allow for the measurement and exchange of smaller amounts of Bitcoin, which is especially useful for microtransactions and everyday purchases. With the rise of the lightning network, sats have gained more attention and are seen as a way to make Bitcoin more accessible and usable for everyday transactions. So, if you hear someone talking about sats, they are referring to the smallest unit of Bitcoin.
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• Feb 18, 2022 · 3 years ago
  Sats, also known as satoshis, are the smallest unit of Bitcoin. They are named after Satoshi Nakamoto, the mysterious creator of Bitcoin. Sats are used to measure and transact smaller amounts of Bitcoin, similar to how cents are used for dollars. For example, if you want to buy a cup of coffee with Bitcoin, you might pay 500 sats instead of 0.000005 BTC. Sats are gaining popularity as a way to make Bitcoin more user-friendly and accessible to the masses. At BYDFi, we support the use of sats and believe they have the potential to revolutionize the way we think about and use digital currency.
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