Bits

Bits is a sub-unit of one bitcoin. Any form of money needs to be easily broken down into sub-units to allow an equal exchange for goods or services. And bitcoin is wonderfully divisible, with its smallest unit being the tiny 0.00000001 of a bitcoin – a unit known as a ‘satoshi’. There are 1,000,000 bits in one bitcoin.

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Tags #Bitcoin #Crypto Glossary