Bitcoin is the most popular crypto on the market and with the highest price. Because of the enormous value of a single unit of Bitcoin, some users trade using fractions of this cryptocurrency.
With its price on the rise, users of this cryptocurrency have found it necessary to implement new terms to refer to smaller parts of a Bitcoin. Thus, this is how mBTC arises: “millibitcoin”, or one-thousandth of a Bitcoin —0.001 Bitcoin—.
So, the problem is that it can be hard to manually calculate what amount of BTC do you have in mBTC, Satoshis or Bits.
Definitely, the fastest way to calculate BTC into different units is to use a Bitcoin converter, which you can find many on the Internet.
However, if you want to do it by yourself and avoid using calculators in the future, check this paragraph, but let's make sure you understand all terms.
Satoshi is the smallest unit of Bitcoin. 1 Bitcoin equals 1 billion of satoshi
You can actually calculate it manually like this:
1 Bitcoin = 1,000,000,000 Satoshi
0.1 Bitcoin = 100,000,000 Satoshi
0.01 Bitcoin = 10,000,000 Satoshi
0.001 Bitcoin = 1,000,000 Satoshi
0.0001 Bitcoin = 100,000 Satoshi
0.00001 Bitcoin = 10,000 Satoshi
0.000001 Bitcoin = 1,000 Satoshi
0.0000001 Bitcoin = 100 Satoshi
0.00000001 Bitcoin = 10 Satoshi
Save it to be able to check this table any time:
0.1 mBTC = 0.0001 BTC
1 mBTC = 0.001 BTC
10 mBTC = 0.01 BTC
100 mBTC = 0.1 BTC
1000 mBTC = 1 BTC
Bits is the minimum unit of information In computer science and other disciplines, which can have only two values —zero or one—.
Likewise, there are a million bits in a single Bitcoin. To understand the relationship between a bit and a bitcoin, we must understand the following: 1 bit is the equivalent to μBTC —a microbitcoin: 0.000001 BTC—.
One Bit is also equivalent to 100 Satoshis —SAT—. Satoshis are the smallest expression of a BTC, with a value equivalent to 0.00000001 BTC. The Satoshi unit receives its name thanks to the creator of the Bitcoin protocol, and 100,000,000 SATs equals one BTC.
1 bit is equal to 0.000001 bitcoin, so converting an amount of bitcoin into pieces can be done by dividing the amount of bitcoin. Let's put as an example:
42.66 bitcoins ÷ .000001 = 42,660,000 bits
We can also analyze it in this way:
42,660,000 bits × .000001 = 42.66 bitcoins
So, to analyze the equivalent of bitcoins with 60 bits, it would be:
60 bits x 000001 = 0.00006 bitcoins
If 1 Bitcoin were worth $100,000, then a 4.99 beer would cost you 49.90 bits.
Shortly, all bitcoin casino sites with cryptocurrency use mBTC. For example, Bustabit displays units in Bits; TrustDice in mBTC; Roobet just shows dollar ($), Ethercrash game shows in mETH currency, etc, etc, etc.
Anyway, use a bitcoin converter or calculate it manually BTC into mBTC or Satoshis or Bits.
