What is the significance of 'sats' in the context of cryptocurrencies?

3 answers

• Nov 29, 2021 · 3 years ago
  Sats, short for satoshis, are the smallest unit of Bitcoin. They represent a fraction of a Bitcoin and are used to measure and transact in smaller amounts. For example, 1 Bitcoin is equal to 100 million sats. Sats are important because they allow for microtransactions and enable the use of Bitcoin in everyday transactions. They also make it easier to discuss and compare the value of different cryptocurrencies.
  413207
• Nov 29, 2021 · 3 years ago
  Sats are like the cents of Bitcoin. They are a way to break down the value of a Bitcoin into smaller, more manageable units. Just like you can have 100 cents in a dollar, you can have 100 million sats in a Bitcoin. This makes it easier to buy and sell small amounts of Bitcoin and other cryptocurrencies without dealing with large decimal numbers.
  347116
• Nov 29, 2021 · 3 years ago
  In the context of cryptocurrencies, sats refer to satoshis, which are the smallest unit of Bitcoin. They are named after Satoshi Nakamoto, the mysterious creator of Bitcoin. Sats are significant because they allow for precise and granular transactions, making it possible to transact in very small amounts of Bitcoin. This is particularly important for microtransactions and for the adoption of Bitcoin as a global currency.
  424106