Stack sats11/24/2023 With the price of 1 bitcoin in the tens of thousands of dollars, people need a way to pay for goods without having to think about long strings of decimals. Dollars and cents are both USD, just different ways of thinking about it. Bitcoin and sats are no different - Bitcoin is to dollars as sats are to cents. We price goods and services in dollars, but we also price them in cents. Plus, it's a lot more fun to stack sats when you can see your bitcoin balance going up by the sat - not by the decimal place. When you start thinking in sats, it becomes a lot easier to see bitcoin as an actual currency, not some form of payment straight out of a sci-fi movie. Each sat might not seem like a lot, but when you start buying and selling bitcoin, you'll see that sats can add up quickly. Put another way, there are 100,000,000 sats in 1 bitcoin. Named after Bitcoin's creator, Satoshi Nakamoto, a satoshi is one hundred millionth of a bitcoin or 0.00000001 BTC. Satoshis - or "sats" - are the smallest unit of bitcoin. This article was provided by Roselyne Wanjiru, one of Kenya’s leading blockchain consultants, a crypto economist, and a senior writer at Rise Up Media. Stacking sats can help you to accumulate a lot of bitcoin, but only if you stay persistent and continue stacking sats. Many people involved with crypto at the height of its popularity have since dropped out-likely to return when prices hit another peak. It’s important to regularly reexamine your investment strategy, especially in volatile markets. Furthermore, in addition to earning a little extra bitcoin, you’d be supporting one of Bitcoin’s most exciting scaling solutions. The amount of money you will earn is negligible compared with that from cashback apps, for example, but it’s still a solid way of stacking sats. Running a Lightning Nodeįinally, you could stack sats by supporting the growth of the Bitcoin Lightning Network by running a lightning node.īy providing payment channels to Lightning Network users, you can earn satoshis by charging them fees for using your nodes. If you don’t have the time to research, then consider setting up an automated monthly investment straight from various companies such as Coinfinity, Coinbase, or Kraken. So, shop around and find the right one for you and your investment needs. This method of investing is known as dollar-cost averaging (DCA).ĭollar-cost averaging is based on the idea that if you invest a set amount each day/week/month, at an average price, you can reduce the effects of market volatility on your portfolio, especially when working with a volatile asset such as bitcoin (BTC). You can set it up so that it automatically buys a certain number of bitcoin for you. Setting Up a Bitcoin Savings PlanĪnother popular way to stack sats is by setting up a bitcoin savings plan.Īn automated bitcoin savings plan allows you to set a regular purchase schedule. Some crypto credit cards, such as BlockFi and Nexo, also offer between 1.5%-3.5% cash back on every purchase (depending on which card you get). Lolli and apps like it have received so much positive attention on social media that bitcoin cashback apps are now one of the most popular ways to stack sats in 2022. Moreover, the app processes the transaction after you have made a purchase and sends your bitcoin cashback to your wallet. Lolli, for example, provides a browser extension that informs users every time they access a partner e-commerce platform that they can receive cashback in the form of bitcoin (up to 30% back). These applications allow people to earn small amounts of bitcoin every time they purchase from an approved retailer. New apps are consistently appearing on the market offering to pay users back with bitcoin when they shop at participating merchants. Bitcoin Cashback Apps & CardsĪ popular way to stack sats is by using apps that offer cashback on bitcoin purchases. Hence, the term “stacking sats.” Popular Ways to Stack Satsīelow are some proven ways you can use to start stacking sats. One of the most effective Bitcoin investment strategies is building your bitcoin holdings through small, incremental investments. One Satoshi is equal to 0.000001 bitcoin. ‘Sats’ is a shortened version of the word ‘satoshis,’ the smallest units of Bitcoin you can hold. In this article, you will discover three ways to stack sats you may not have heard of yet. Stacking sats, which refers to acquiring small amounts of bitcoin, has become popular among Bitcoiners looking to grow their bitcoin wealth over time.
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