Many people use Bitcoin but sometimes we come across terms like mBTC, uBTC or BTC and are unsure what is the difference between them. Well, we will discuss in detail the difference between mBTC and Bitcoin and give you few examples on how to convert these units.
What is BTC?
Bitcoin is a decentralized digital currency created by Satoshi Namakoto in 2009. There can be only 21 million Bitcoins out of which there are approximately 18.5 million Bitcoins already minded.
BTC is a short for Bitcoin. As US dollar can be divided into cents, similarly Bitcoin (BTC ) can be divided into mBTC, bits,uBTC and Satoshis.
What is One Unit of Bitcoin?
To make the any currency usable we need to break it down into smaller units. The reason for this is that if the value of a that currency (Single bitcoin) goes up very high we can still use it for small transactions.
Every currency has a unit of measure. For example Dollar is can be broken into 100 cents and pound can be broken into pence.
In case of Bitcoin cryptocurrency, the satoshi is the smallest unit of the bitcoin. 100 million satoshis is equal to 1 Bitcoin. These Small denominations makes not only the bitcoin transactions easy to conduct but at the same time make transactions readable. This means that one of unit of a Bitcoin (Satoshi) can be traded.
1 bitcoin (BTC) equivalent to100,000,000 satoshis
What is mBTC?
You must have heard units like millimeter or millivolt, where milli indicates 1/1000th of that particular unit. m stand for milli and mBTC means milliBitcoin. So mBTC is equal of one thousand of a bitcoin and we can represent it as 0.001 BTC.
1 Bitcoin (BTC) equivalent to 1,000 millibitcoins (mBTC)
Similarly we have Micro bitcoins μBTC where one bitcoin is equivalent to 1,000,000 μBT
1 bitcoin (BTC) equivalent to 1,000,000 microbitcoins (μBTC)
Difference Between mBTC and Bitcoin
Lets convert mBTC into BTC and see the difference between the two.
Lets suppose you have 0.1 mBTC and would like to know its value compare to BTC price.
Lets assume the price of 1 BTC is $45000 at the moment and we know that 1 mBTC equal to 0.001 BTC
So the mathematical equation will be as follows
0.1 mBTC x 0.001 = 0.0001 BTC
So its value will be 0.0001 x 45,000 (Price of 1 Bitcoin) = $4.5
So in summary, we can conclude that the unit structure of Bitcoin as 1 Bitcoin (BTC) equivalent to 1,000 millibitcoins (mBTC), 1,000,000 microbitcoins (μBTC), or 100,000,000 satoshis.
Also to find the latest price of bitcoin and to convert them BTC, uBTC or Satoshis you can use the site http://preev.com/ where you can do all these calculations automatically.
