What is the significance of 'sats' in Bitcoin transactions?

3 answers

• Dec 17, 2021 · 3 years ago
  Sats, short for satoshis, are the smallest unit of Bitcoin. They are named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. One Bitcoin is equivalent to 100 million sats. Sats are used to measure and represent fractions of a Bitcoin. They are essential for microtransactions and allow for precise and granular value transfers on the Bitcoin network. For example, if you want to send someone a small amount of Bitcoin, you can specify the transaction in sats instead of whole Bitcoins. This makes it easier to transact with small amounts and enables the use of Bitcoin in everyday transactions.
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• Dec 17, 2021 · 3 years ago
  Sats, also known as satoshis, are like the pennies of Bitcoin. Just as there are 100 pennies in a dollar, there are 100 million sats in one Bitcoin. Sats allow for the division of Bitcoin into smaller, more manageable units. This is important because Bitcoin's price can be quite high, and not everyone can afford to buy a whole Bitcoin. By using sats, people can transact with smaller amounts of Bitcoin, making it more accessible to a wider range of users.
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• Dec 17, 2021 · 3 years ago
  Sats, or satoshis, are the smallest unit of Bitcoin. They are named after Satoshi Nakamoto, the mysterious creator of Bitcoin. At BYDFi, we understand the importance of sats in Bitcoin transactions. Sats allow for greater precision and flexibility when transacting with Bitcoin. They enable users to send and receive small amounts of Bitcoin without the need to deal with large decimal numbers. By using sats, Bitcoin becomes more user-friendly and can be used for everyday transactions, regardless of the price of a whole Bitcoin.
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