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Overview Crypto Currencies


Cryptocurrencies are not the same as regular currencies in many ways. There are few main specifics that are important to consider when you’re working with cryptocurrencies - before you make any technical decisions.

Fraction

The cryptocurrencies don’t have cents, but they have the decimal part. It’s a common approach to use Satoshi units (similar approach to having amounts in cents, as integers) in order to guarantee the precision. Below you can find the unit translation table between Satoshi units and BTC:

Satoshi BTC
1 0.00000001
10 0.0000001
100 0.000001
1000 0.00001
10000 0.0001
100000 0.001
1000000 0.01
10000000 0.1
100000000 1

Conversion Rate

Cryptocurrency conversion rates are very dynamic. For instance, BTC or Ethereum equivalents in USD are both known for their high equivalent value. Thus, the fiat equivalent of transaction amount may often indicate a 2-5% difference between the USD amount at the moment of transaction start and the moment when the confirmation is received.

Cryptocurrency Options

Fiat is mostly static, it does not happen every year that a new fiat currency is introduced or existing one disappears. On the other hand, crypto (usually) does not belong to any government, it may be registered by individuals, the procedure requires quite a few steps to be created. This characteristic determines the nature of cryptocurrency - currencies are often added on the market, or removed. Make sure to stay on top of the offerings, and stay tolerant to new currencies being introduced, unless you are confident about a specific list of cryptocurrencies that you want to work with.

Below you can find the list of cryptocurrencies supported:

Currency Name Symbol Fraction
Bitcoin Cash BCH 100000000
Dashcoin DSH 100000000
Ethereum ETH 100000000
Litecoin LTC 100000000
Bitcoin (ISO standard) XBT 100000000
Bitcoin BTC 100000000
Tether USDT 100000000
USD Coin USDC 100000000