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Bitcoin

Bitfinex launches a new ‘Bitcoin Standard’ to make transactions more readable

by Miki 08/07/2021
by Miki 08/07/2021 0 comment

Hong Kong-based crypto exchange, Bitfinex announced yesterday its latest bitcoin standard, named Satoshi (SAT) mode that makes Bitcoin (BTC) transactions easier to read. The SAT mode allows users to read even the smallest fractions of Bitcoin in Satoshi making Bitcoin trade more accessible to the masses.

Users can choose to trade BTC in SAT units (1 SAT = 0.00000001 BTC) for any trading pair with BTC. Additionally, Satoshi mode is named after the creator of Bitcoin, Satoshi Nakamoto.

“The launch of SAT Mode on Satoshi is fitting for an exchange that is a pioneer in the space that never forgets the ethos from which bitcoin was originally invented… This will facilitate microtransactions in bitcoin, enabling users who may be dabbling with their first bitcoin purchases to further familiarize themselves with this amazing technology.”, said Paolo Ardoino, CTO at Bitfinex.

Inclusivity in Crypto

Bitcoin (BTC) is the OG of cryptocurrency, however, buying BTC even during a crash is not an affordable option for a middle-class crypto trader. The Satoshi mode will not only make BTC trading easier, but the mode also aims at promoting inclusivity in the exclusive BTC market.

Crypto exchange platforms are rapidly innovating for the mass adoption of cryptocurrencies. They are applying all measures to facilitate easier and accessible crypto trading. Recently, Unstoppable Domains, the leading bitcoin firm partnered with Circle, which issues the USDC stablecoin. The partnership with Circle is aimed at launching readable “.coin” usernames for USDC transfers, and enable support for .coin username extensions for stablecoin dominant crypto wallets and exchanges.

Internal Competition in the digital sphere

Where crypto is gaining popularity among the masses, there has been an evident uprising of competitiveness amongst cryptocurrencies operating on Decentralised networks, Stablecoins, and CBDCs. CEO of Unstoppable Domains, Matthew Gould compared stablecoins to mainstream cryptocurrencies and promoted the use of the less risky, fiat-backed digital currency over the volatile BTC.

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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

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      Blockchain

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      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

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