What are satoshis (sats)?
Satoshis, or sats, are the smallest units of bitcoin (BTC). They’re the same as cents to dollars, but at another ratio: 1 sat = 0.00000001 BTC. In other words, there are 100,000,000 sats in 1 BTC. All amounts in the Bitcoin blockchain are calculated in sats. The unit was named after Satoshi Nakamoto, the mysterious creator of the whole Bitcoin system and modern cryptocurrency industry.
How much are sats worth?
1 sat = 0.00000001 BTC, and it’s a fixed ratio. In other words, there are 100,000,000 sats in 1 BTC. Compared to traditional currencies, satoshis currently worth way less than cents, but this ratio is changing all the time. Sats are a fraction of bitcoin, so they both follow the same price trends.
Why should I use sats instead of BTC?
First, it’s convenient. Think what would you rather buy and hold: 50,000 sats or 0.0005 BTC? The trick is these amounts are the same, just in different units. Moreover, as bitcoin and other cryptocurrencies will see higher adoption, we’ll need a handy unit for our daily needs. And small sats are much more convenient than huge BTC as they let us think in whole units.
Can I buy sats?
Yes! If you own bitcoin, you’ve already bought sats. Buying BTC is equivalent to buying sats, as they’re both different units of the same currency. You can see this clearly: just switch from BTC to sats, and you’ll see BTC price and amounts in satoshis.
How do I switch between sats and BTC?
Sats are currently available in the mobile app only. To switch between sats and BTC, follow these steps:
- Open Okcoin mobile app in the Basic mode. Learn more about app modes.
- Go to the BTC price page.
- Tap the What’s new card.
After the first time, you can use the Switch to toggle under the About section. It can be Switch to sats or Switch to BTC depending on your current view.
Will switching to sats affect my portfolio or purchases?
Not at all! Sats and BTC are different units of the same currency, so it’s like switching from dollars to cents. The real value will remain the same. Your current or future transactions won’t be affected. And you can go back to BTC anytime you want from the BTC page in the mobile app.