Certified Bitcoin Professional Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Certified Bitcoin Professional Exam with our comprehensive quiz. Use flashcards and multiple choice questions, complete with hints and explanations. Get ready to excel!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

How many satoshis are in one Bitcoin?

1,000,000
10,000,000
100,000,000
1,000,000,000

The correct answer is: 100,000,000

One Bitcoin is equal to 100,000,000 satoshis. This relationship is significant in the world of Bitcoin as it allows for transactions and value exchanges at a much smaller unit than a whole Bitcoin, enabling finer granularity in transactions. The Bitcoin network was designed to facilitate very small transactions, and satoshis are the smallest unit of Bitcoin, allowing users to send tiny fractions of Bitcoin in a practical way. This differentiation into smaller units is particularly important for microtransactions, where the value being exchanged is less than one whole Bitcoin, making it accessible for various users and applications. Understanding this conversion helps comprehend the Bitcoin ecosystem, particularly in evaluating transaction fees, pricing goods and services, and storing value in a flexible way. The other options, while numbers related to the metric system, do not accurately reflect the actual units in Bitcoin; thus, they misunderstand the foundational structure of Bitcoin's denomination.