How many zeros do I need to write when buying something cheap with Bitcoin?
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1 Bitcoin has 9 digits: one Bitcoin = 100,000,000 Satoshi.
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If you are buying Digibyte (DGB) cryptocurrency, for example, on http://Bittrex.com and not Poloniex, and if you are buying DGB right now with Bitcoin (BTC) digital money, then you might pay 718 Satoshi.
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So, in the buy form on Bittrex, how many zeros do I write? Here is the formula you can use to calculate when translating Satoshi into Bitcoin. First, because one Satoshi is one hundred millionth of a Bitcoin, that means it takes 100 million Satoshi to equal one Bitcoin, that means there are 9 digits. You can count 9 zeros or 9 different numbers in things that cost less than one Bitcoin.
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How many zeros do you need to write?
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First, add the number of digits of the price. Digibyte cost 718 Satoshi. That is 3 digits. Add the number of Bitcoins to that number of how many Satoshi digits there are. That is then 3 + 1 = 4.
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Second, subtract from the total number of Satoshi in one Bitcoin. 9 - 4 = 5.
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So, when you are trading / exchanging, and you want to place a bid, type in 5 zeros, in this case.
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718 Satoshi equals to 0.00000718 Bitcoins.
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That might be the ASK price from the Digibyte sellers.
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Be careful not to write 0.0000718 Bitcoins as your bid.
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Because that has only four zeros past the decimal point.
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It is a bigger number by like ten times or something.
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I am not an expert at math but I think I am learning.
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Should I buy Digibyte?
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I might.
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