Introduction: Bitcoin’s smallest unit
Bitcoin’s smallest unit – with seemingly endless profit opportunities and many other benefits, such as quick transfers, the desire to enter into the cryptocurrency world with Bitcoin is become more and more realistic for many.
The high price of Bitcoin often deters many buyers who have not previously dealt in detail with the digital currency, but there are more ways than one to enter the market.
It is not necessary to buy a whole Bitcoin. In fact, it is just as possible to acquire fractions of a Bitcoin. This has no drawbacks, so you can make remittances as the owner of a fraction of a Bitcoin. The smallest unit is a Satoshi, where a Bitcoin corresponds to 100 million Satoshis. The name “Satoshi” is derived from the pseudonym of the inventor of Bitcoin, Satoshi Nakamoto.
Bitcoin’s smallest unit – Units of Bitcoin
A Satoshi is not the only unit in which fragments of a Bitcoin are distributed; however, there really is no smaller unit for Bitcoins than the Satoshi. The next largest unit is a μBTC (Microbitcoin). A Bitcoin equals one million μBTC, which equates to one μBTC for one hundred Satoshis.
Greater than μBTC is a mBTC (Millibitcoin), where a Bitcoin consists of one thousand mBTC. One hundred thousand Satoshi, the smallest unit of Bitcoin, corresponds to one mBTC. Greater than one mBTC, there is only one cBTC (Centibitcoin) and one dBTC (Decabitcoin), each corresponding to 10 times the number of Satoshis of their next smaller counterpart.
Of course, there are also units that equal several Bitcoins – one hundred Bitcoins in hBTC (Hectobitcoin), one thousand Bitcoins in kBTC (Kilobitcoin), and one million Bitcoins in MBTC (Megabitcoin).
In order to convert the various units conveniently, there are now several services. For example, at bitsusd.com or youandmebtc.com, units can be converted into each other or converted into “paper money”.
Bitcoin’s smallest unit – How to acquire Satoshi
To get Satoshis, the smallest unit of Bitcoin, you do not even have to buy them. There are many different ways to earn them, or even to get them for free. How exactly this works can be very different. Some providers require that surveys be completed, but other providers offer free Satoshis that require only one captcha to be filled out.
At freebitco.in, one captcha can be solved once per hour, after which a random amount of Satoshis can be won. With luck, relatively large profits can be achieved. In addition, the site offers the possibility to generate units of the digital currency with browser mining itself. The revenue can be multiplied in a game of chance, or even destroyed. The payout is done with any wallet.
Moonbitcoin is a provider in which the number of earned Satoshis can be influenced so they can be earned steadily. This can be claimed every five minutes or even after a few hours. The longer you do not claim it, the slower it grows. Thus one can adjust in order to achieve the optimal yield.
The payouts at Moonbitcoin are not made directly on the Bitcoin wallet but on Coinpot. There, the fragments are accumulated from different sides until they are paid from a minimum amount to their own Bitcoin wallet.
Another provider that can generate fragments of Bitcoins is BitcoinGet. Surveys can be completed online, offers can be viewed, or even simple tasks can be processed there. The return is a bit higher compared to other sites. Payouts are made from a certain minimum amount to the Bitcoin wallet.
On CoinRebates, the sister site of BitcoinGet, even cash back in the form of Bitcoins can be earned. This means that you can buy through the links of the portal and get back part of the value of the goods; in this case, in fragments of Bitcoins.
It should be noted that the earnings are often disproportionate to the time spent. Nevertheless, it is a good way to enter the world of cryptocurrencies.
Bitcoin’s smallest unit – Mining Bitcoin fragments
It is also possible to mine fragments of a Bitcoin. This means that they are generated by computing power. There are different methods for this. On one hand, computing power can be provided by your own computer, but there are different programs. Often, however, it is relatively difficult for people who are not very interested in technology to set up these programs.
Nevertheless, there are also programs that make setting up easier. MinerGate is one example where mining can be started at the touch of a button and does not require any complicated setup. One should also keep in mind that the electricity costs are not too high.
Otherwise, this can quickly lead to a large loss, since the earned digital currencies are by no means worth enough to pay for the electricity consumed.
On the other hand, a simpler and less complicated method of mining is called cloud mining. In doing so, one rents the computing power from a provider, and in return, receives the income generated from it.
It is easier, because the provider takes care of the maintenance and the configuration of the hardware, though it comes at a cost since all this must be paid and the provider also has to earn something from the contract.
Coin-Report.net was founded by Thomas Mücke.
With the help of Coin-Report.net magazine, he tries to bring light to the field of crypto-currency.