What are the Units of Bitcoin (BTC)?

What are the equivalent of cents or pence in Bitcoin units?

Bitcoin has its own naming convention for its denominations. If you have for example 10,254 Bitcoin you say you have ten thousand, two hundred and fifty four Bitcoin like you would with regular currencies.

The thing is Bitcoin doesn’t just have just two digits behind the dot to denote cents – it has 8! So if you have 10254.59786271 Bitcoin and you would like to spend some Bitcoin units, but not a full bitcoin, how can you refer to the rest of the digits?

Table of units:

Bitcoin unit nameDecimalAbreviation
Satoshi / Sat0.00000001Sat
Millibit or Millie0.001mBTC

Bitcoin units – what is the difference BTC and XBT?

BTC and XBT are both abbreviations that refer to Bitcoin. The difference is that BTC is how Bitcoin was referred to when it first started out, however this does not adhere to the rules set by the International Standards Organization (ISO) under ISO 4217.

Since Bitcoin is gaining traction the ISO has stepped in and proposed to use XBT as an abbreviation instead of BTC as a standard. This is because Bitcoin is not issued by any country so it should start with an X. Similarly this is also the case for gold which uses XAU as its abbreviation.

We will have to wait and see how quickly the industry will adapt to this new abbreviation for Bitcoin units. However do not be surprised if you start to see XBT being used more often to refer to Bitcoin.

Satoshis or Sats? How many are in a bitcoin?

A Satoshi or Sat is the smallest Bitcoin unit. It is named after the man or group of people who created Bitcoin called Satoshi Nakamoto. One Satoshi is 0.00000001 BTC, this means that 100,000,000 Satoshis make up 1 Bitcoin.