In the modern world, the level of popularity and prevalence of cryptocurrency has increased significantly. Despite a wide choice of digital currencies, Bitcoin is the most usable and popular. Even the WebMoney worldwide electronic payment system offers its users to create an electronic wallet for the accumulation of WMX tokens – analogs of Иitcoins, which can be used to store tokens and secure their conversion.
Like real currencies, Bitcoin consists of smaller components that are known as Satoshi. Absolutely every user can become a participant of the general Blockchain system due to the availability of these coins.
A key feature of all digital currencies is their decentralization. In other words, the value of the virtual currency is affected only by the internal position of the market, namely, the increase in the total number of units. Unlike the fiat currencies, it will not be able to influence it from outside, even if the largest financial structures in the world are attracted. As of today, only 21 million Bitcoin tokens are used in the world. At the same time, most of this virtual currency is in the hands of the people of the People’s Republic of China.
Due to the fact that today the cost of BTC is 10 700 dollars, and the average mark varies from 9 to 12 thousand dollars, this virtual currency has the right to be called digital gold.
Satoshi – hundred millionth part of Bitcoin token
It should be noted that the use of any world currency would be difficult in the event of the lack of exchangeable coins. In the virtual currency of Bitcoin, Satoshi acts as a similar coin. Most likely, this unit was named in honor of its pioneer – Satoshi Nakamoto. Also, there is a probability that this is not the name of one developer, but the name of a whole group of Japanese programmers.
One Bitcoin consists of 100 million Satoshi. In this regard, to get one Bitcoin, the user needs to get 100 million small coins. For this, in the absence of hardware with a high level of productivity, it will take a huge amount of time.
Until relatively recently, in 2010, this digital currency was of almost no value. But over time, its popularity grew, and with it the value of the digital currency relative to the most stable world currency – the USA dollar. To determine the cost of one Satoshi in dollar equivalent is quite simple: for this it is necessary to divide the current cost of one Bitcoin token by 100 million. According to calculations, the cost of one Saroshi is 0.000107 USA dollars.
In the exchange of crypto tokens to fiat currencies, there is a noticeable difference, since it is customary to use hundredths or even thousandths of one token when calculating the equivalent of a certain cryptocurrency. In order to optimize the exchange and settlement table, the following notations were adopted, regarding the number of minimum coins of the specific cryptocurrency, like for Bitcoin:
- 1 μBTC (0.000001 BTC) is the 100 Satoshi;
- 1 mBTC (0.001 BTC) – this is 100 thousand Satoshi;
- 1 BTC is 100 million Satoshi.
Ways to get Bitcoin
In our time virtual currency users are available a large number of ways to get Satoshi, which in the required quantity form the BTC. In order to receive them, a person can take part in various contests, lotteries, distributions, voting and so on.
However, you can also mine a virtual currency. To do this, you need to build a computer with a high level of processing power with several video cards. To make a profit, the assembled device should work at full power in P2P networks.
Of course, to earn a Bitcoin will need to make a lot of effort, but you need to act now, as the rate of the digital currency is increasing every day. To begin with, you will need to familiarize yourself with the advice of experienced participants in the system, as well as create your own wallet for storing cryptocurrency and performing financial transactions.