Perhaps you want to start small in the Bitcoin investing world but then you looked at the prevailing rate. We know, the prices have skyrocketed since the beginning. This shouldn’t be a deterrent. After all, you can now purchase Bitcoin in small fractions, even going to the Satoshi. Don’t let the name fool you, making the conversion is easier than ever with the help of some of these free tools.
To figure out what these free tools looked like, we did a little digging to discover which converters are available to you. Whether you were planning on going from Satoshi to USD, USD to BTC or BTC to EUR, we now have you covered.
Okay, first things first. What even is a satoshi. Let’s backtrack a little bit. Bitcoin happens to be worth quite a bit on a good day. This is great unless we are considering values that are only a fraction of a bitcoin. Now enters the satoshi or Sats for short. The Satoshi is actually a unit of measurement in reference to the Bitcoin. Similar to how the Canadian dollar has cents, the Bitcoin has Satoshi’s. Similarly, the Satoshi also happens to be the smallest unit of measurement that can be accounted for on the blockchain. To put just how small it is into perspective there are 100 million Satoshis in a single Bitcoin.
We can say 0.00000001 is 1 satoshi. It was important something like the Satoshi be included in the mix since it makes smaller transactions in Bitcoin possible. If we were buying a pop from the local supermarket it would get complicated if we planning on paying in 0.0003 BTC. Instead, it might be easier to pay the $2.80 USD it is equivalent to. If we were set on using Bitcoin, we could also consider making this purchase in 30,000 Satoshi’s. Which we would agree sounds only slightly better than the latter.
Okay so the Satoshi might not be the best bet when it comes to some purchases, we can admit that. In this case, you will be happy to know that there are other measurements for each fraction of the Bitcoin. These include the μBTC (pronounced you-bit), which is 100 Satoshi’s or 0.000001 Bitcoins, the mBTC (pronounced em-bit), which is equivalent to 100,000 Satoshi’s or 0.001 Bitcoins, or finally the cBTC (also known as the bitcent) which is 0.01 Bitcoins or a whopping 1,000,000 Satoshis.
As you might have noticed from some of the other units of measure, the Satoshi does not have a symbol as Bitcoin does. This didn’t mean nobody has tried. A number of designers took a stab at it and while we loved some of the ideas we saw, getting this symbol into Unicode was another story.
Why are Satoshi’s so important?
We need Satoshi’s since the cost for Bitcoin miners to mine is denoted by a small fraction of a Bitcoin. An amount that can only be denoted as Satoshi. Every transaction that is conducted requires byte-sized data (and no we did not mean bite-sized!) Since the cost is determined by Satoshi per byte, it is important for us to know exactly what we were paying.
If you happen to be a miner or have another means of earning Bitcoin, the Satoshi might also be a good value to have on your radar.
Origins of the Satoshi Name
Why Satoshi? Satoshi Nakamoto was the name of the individual or group who wrote the paper that originated Bitcoin. To this day we still don’t know if Satoshi is an individual or an entire group of people. Regardless, the 2008 paper with this name sparked a mad dash to the crypto world. In 2011 the name Satoshi Nakomoto slowly began to disappear until Satoshi left to “do other things.” That said, Satoshi Nakamoto played a huge role in the development of Bitcoin. It seemed only fitting that we include his name somewhere in the mix.
Picking The Tool
You might have noticed that when trying to find the value of satoshi, you are often prompted to calculate in USD. This is because most Bitcoin happens to be traded in US dollars (Sorry Canadians!) Knowing this is the least of your worries. After all, finding the tool to help you get from A to B might just be the bigger challenge. That’s why we came together to determine what the best tool happened to be.
To decide which tool we liked best, we had to layout a couple of carefully crafted out criteria. These criteria include how often the site refreshes the prevailing currency prices, the user interface and the coin pairings available.
Buy Bitcoin WorldWide
First on the list is a converter known as Buy Bitcoin WorldWide. This converter is simply set up to help you make conversions between Satoshi to USD, Satoshi to BTC, BTC to Satoshi, Satoshi to Euro and Bitcoin to USD. The only drawbacks; our conversions are only displayed to three decimal places. This might be problematic as we get to smaller fractions of the Bitcoin.
We also have no way of gaging how accurate the conversion rate is for Bitcoin. This is because there is no refresh button or conversion value with easy access on the website. Since we have no way of predicting the Bitcoin prices of 2020, some volatility could leave us with slightly inaccurate prices. That said, the tool itself is a good basic calculator to get you started.
If we weren’t selling you on the first one, the 99 Bitcoins converter might be closer to your speed. In case you forget what exactly you are converting at any time throughout this process, 99 Bitcoins also has some helpful information on the same page as their calculator. Coin pairings include Satoshi to USD, EUR, CNY, GBP, RUB or CAD and vice versa. However, finding a Bitcoin to Satoshi converter is not readily available on the page.
The site refreshed prices every 100 seconds which proves positive from an accuracy standpoint.
Satoshi to Bitcoin
When it comes to user-friendliness, we can’t think of a platform better than Satoshi to Bitcoin. In the upper navigation bar, we have the option to convert from Satoshi to BTC, BTC to Satoshi, BTC to USD or Satoshi to USD. However, there are also fewer coin pairings, lack of coin exchange rate and no indicator of how often the prices are refreshed.
Perhaps you might want to look at a calculator that helps you to quickly determine the number of different conversions not just Satoshi to USD. The Best change might be to try out this platform. Not only do they offer the typical conversions from Satoshi to USD but they also offer a good variety of other currencies. The prevailing currency rate is also readily available given a quick scroll. The frequency in which the prices are updated are also available at the top of the site with links to where you can start exchanging provided at the bottom.
A quick scroll on their calculator page also shows what the prevailing rates are. Our only hesitation is finding a currency that you are exchanging with needs to be done by scrolling through a list. If you aren’t using one of the most typical currencies your fingers might get a tad sore. All in all, we can’t complain about the number of options available on this site even if the site is a little cluttered with information.
Although not the top of the list for aesthetics, Coin Guides is one of our favorites since it shows the value of Bitcoin at the time you are looking to convert. You can also refresh quite frequently to account for the volatility that is expected in Bitcoin. There is actually a button available to ensure you have full control when it comes to pricing. The price of the Bitcoin including a pricing chart is available on the right side of the screen, however, we are unable to easily convert from Bitcoin to the available fiat currencies.
The pairings are still wide in number including Satoshi to KRW, CHF, USD, EUR, AUD, CNY, GBP, RUB, CAD, NZD, SGD, KWD, JPY, INR, and SAR.
Cashing It In
After looking through all of these possible guides you might have decided that you are ready to bite the bullet and make the exchange. Although it might not amount to much you CAN buy or sell just a fraction of a Bitcoin, such as a Satoshi. To see this transaction through you will then have to use a Bitcoin exchange. Some of these more popular exchanges include Coinbase or Kraken. Coinbase is relatively easy to set up but will require you to verify your identity before making any exchanges. However, as an added bonus you can also use Coinbase as a secure wallet to store your coins. You will notice a lot of similarities between this process and the use of Kraken.
Don’t worry if you are not quite ready to cash it in. You can also store partial Bitcoin (Satoshi’s) into a hard wallet as you watch prices go up. It will be more secure here until you are ready to make the exchange. Alternatively, you might decide to make the trade without an actual exchange. If this is the case you might decide to sell Bitcoin or Satoshi to your friends or use a Bitcoin ATM.
Making the Call
So to answer your question, what is the best Satoshi to USD converter? When weighing out our options we certainly hope that it is okay we gave you a top 5 instead. After all, these calculators are all very comparable in features. This means your decision might come down to aesthetic appeal.
Regardless, we suggest you keep an eye on the Satoshi converters. After all, if Bitcoin continues to rise that means using Satoshi’s to make purchases will become more and more popular. You might have sat(oshi) throughout this whole article and we don’t blame you. But now we think it’s time you do your own comparison and make the conversion.