Nowadays it is almost impossible to meet a person who has not heard of cryptocurrencies. Although many people do not understand how they work, they use them on a daily basis. But what is a Satoshi? To make it simple, Bitcoin, the world’s first cryptocurrency, was created by a person whose alias is Satoshi Nakamoto. Although it is not known who Nakamoto really is, there are some individuals claiming to be him. The idea he presented to the world in October 2008 was to create a decentralized currency, operated only by individuals. The question “What is a Satoshi?” started to gain momentum when Bitcoins started to be exchanged for FIAT money. We could say that a Satoshi is the minimum expression used to calculate Bitcoin. In FIAT currency the minimum expression is the cent.
Why are companies starting to use cryptocurrencies?
One of the problems with Bitcoin is that its price varies according to supply and demand. This makes many companies reluctant to hold Bitcoins because there is a 50% chance of losing money. When asking “What is a Satoshi?”, companies discover that there are other cryptocurrencies that preserve their value over time. We are talking about stable coins. These do not vary in price over time and are easier to calculate when it comes to payment since their value is 1:1 with currencies such as the dollar. The question “What is a Satoshi?” is no longer asked because many people know what it is. In fact, it is very common for people to buy and sell cryptocurrencies on exchanges around the world.
What is a Satoshi? The value it represents for your business
If you have an international business, you probably know how difficult and expensive is to collect payments for your products from customers in other countries. Banks and their networks take a large part of the commissions, leaving you with little profit. The question “What is a Satoshi?” helps many merchants take the first step in accepting cryptocurrencies to save on fees. In addition, cryptocurrency payments can be instantaneous or take a few minutes, depending on the type of cryptocurrency and the congestion of its network. Entrepreneurs already know the answer to the question “What is a Satoshi?”. They already know all the benefits of cryptocurrencies and more and more companies are starting to accept them. This is expanding the use of cryptocurrencies worldwide. If you don’t have an Exchange account yet, today is a good day to get one.