Bitcent is majorly explained as one hundredth part of BTC. Not similar to other cryptocurrencies, the amounts of Bitcoin are divisible. And this has resulted in creation of Bitcoin amounts names, right from the time when transactions are involved. Bitcoin is a decentralized open-source public ledger, so it does not have any central organization that can give names to its units. Since 2014, common unit names are bits, satoshi, and bitcoins.
Bitcoin abbreviated as XBT or BTC is a unit, commonly used in Bitcoin wallet software that was invented by pseudonym Satoshi Nakamoto. By far, owing to tradition, this is one of the most common unit. The small unit that supports Bitcoin network is Satoshi that is equal to 0.000 000 01 of Bitcoin. Another popular unit is Bit that is equal to 0.000 001 of Bitcoin. It is similar to μBTC or microbitcoin. These units are used as SI prefixes, such as –
1. 0.01 BTC – 1 centibitcoin or cBTC (this is also known as Bitcent) 2. 0.001 BTC – 1 millibitcoin = 1mBTC (this is also known as mbit, bitmill, millibit) 3. 0.000 001 BTC = 1 microbitcoin = 1 μBTC (this is also known as microbit or ubit)
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