As mentioned briefly in "What is Bitcoin?" , the smallest unit of Bitcoin that can be traded is 0.00000001 BTC, which is the eighth decimal point. This is 1/100 million of 1 BTC. This smallest unit is called "Satoshi" after Satoshi Nakamoto, the creator of Bitcoin. As of July 2023, 1 Satoshi is 0.04 yen. ( Check the latest price here .)
As of July 2023, 1 BTC is worth over 4 million yen, so we sometimes receive comments such as "I can't make such a large investment." Just as 1 yen cannot be divided into small amounts such as 0.00000001 yen, people may think that Bitcoin cannot be divided in the same way.
Bitcoin, being digital money, is divisible into small amounts, meaning you can have very small amounts of Bitcoin for transactions.
Have you ever had to wait at the register when using your credit card because the payment did not complete? When you spend money, if the processing speed is slow, you will have to wait at the register like this, but if this happens every time, the money will be useless. Bitcoin is the world's first blockchain, so transaction fees and slow processing times can be a problem. Depending on the transaction fee you set, it can take about 10 minutes to actually send Bitcoin. If the transfer fee is extremely low, it may take several days to transfer the money.
However, recently a new technology called the "Lightning Network" has appeared (for more information, see Coin Post's "What is the Lightning Network? Even Beginners Can Understand | Explaining its Features and Mechanisms" ), which allows for faster transfers with lower fees. Once you experience making a payment using the Lightning Network, you will be truly impressed.
The Lightning Network makes it possible for small transactions, like paying a friend or buying a coffee, to be made quickly and cheaply with Bitcoin.