Today, Okcoin, one of the prominent cryptocurrency platforms, announced the roll out of Sats Mode, making it the foremost US-licensed exchange to display bitcoin in satoshis, the smallest unit of bitcoin equivalent to one hundred millionth of a bitcoin. Sats Mode is the smallest unit of bitcoin equivalent to one hundred millionth of a bitcoin.
Clients of Okcoin may now examine their bitcoin balance and purchase bitcoin in full numbers—for example, 1,645 sats—instead of the unit equivalent of 0.00001647 BTC, as well as commemorate milestones such as reaching their first million sats—through the use of this functionality.
Okcoin was founded in 2013 and has since grown to become one of the world’s fastest-growing cryptocurrency platforms. Okcoin is developing the next wave of tools to enable anybody to invest in and trade cryptocurrency quickly and with industry-low costs, with the goal of creating a more inclusive financial future that generates wealth for all people.
Okcoin provides service to millions of consumers in more than 190 countries, supporting them in taking advantage of staking and DeFi offerings, as well as trading Bitcoin, Ethereum, and more than 25 other crypto assets. Okcoin is headquartered in Singapore. Okcoin is based in San Francisco, but it maintains offices in Miami, Hong Kong, Singapore, Malta, and Japan, as well as a remote, internationally dispersed staff of developers.
The difficulty of decimal notation has historically hindered ordinary investors from purchasing tiny amounts of bitcoin, as well as providing a user experience (UX) barrier for bitcoin micropayments, according to the Bitcoin Foundation. In contrast, according to recent data from Bakkt Holdings, Inc., more than 40% of Americans are still unaware that it is possible to purchase a fraction of a bitcoin. With Sats Mode, Okcoin hopes to establish sats as the standard unit of bitcoin measurement among retail investors in the future, which will be an important step in the digital currency’s acceptance.
In the words of Okcoin’s CEO Hong Fang: “Okcoin is dedicated to ensuring that cryptocurrency is accessible to everyone, which includes making it as simple as possible to comprehend and use.” “Average investors will not be purchasing full bitcoins at once, particularly as the price of bitcoin continues to rise. Their strategy is to acquire little amounts of bitcoin at a time and stick onto it in their portfolio to build up their fortune. Through the introduction of Sats Mode, we are reaching out to retail investors in their natural environment.”
The introduction of Sats Mode is another step forward in Okcoin’s continued attempt to assist new cryptocurrency investors in acclimatizing to the market at a pace that is comfortable for them personally. To encourage more consumers to use the platform’s dollar-cost averaging function and reap its advantages, Okcoin launched a “free fees on recurrent purchase” offer in September, which has subsequently been extended until the end of 2021.
Sats Mode, like Okcoin’s other features, is something that clients may choose to participate in according on their preferences. From the platform’s mobile app or website, users may toggle on the feature to start seeing bitcoin in sats throughout their portfolio balance value and real-time price fluctuations instantly.
