If you are playing at a crypto casino, you are presumably familiar with such names as Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH). Nevertheless, you may find out that the names used in the casinos are slightly different from those above. For example, you may encounter mBTC, μBTC, mLTC, and mETH. What do they mean?
It’s important to note that the value of cryptocurrencies has grown significantly over time. For example, Bitcoin, which was once a few cents, climbed all the way to $65,000. Casino players rarely wager such high amounts, and the bets usually don’t exceed a few dollars. One cannot but agree that having won 0.00043111 BTC, you will hardly be able to understand whether it is $2, $20, or $200.
That’s why the smaller units are of great help. For example, knowing that 1 mBTC = $46, you can easily estimate the total amount if you win, let’s say, 6 mBTC.
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- 1 mBTC or millibitcoin is equal to a thousandth of a Bitcoin, i.e. 0.001 BTC.
- 1 μBTC or microbitcoin is equal to a millionth of a Bitcoin, i.e. 0.000001 BTC.
- 1 mLTC is equal to a thousandth of a Litecoin, i.e. 0.001 LTC.
- 1 mETH is equal to a thousandth of an Ethereum, i.e. 0.001 ETH. Sometimes 1 mETH is referred to as mΞ.
Also, in the case of Bitcoin and Ethereum, there are other ways of dividing a whole coin into smaller units. For Bitcoin, this is satoshi. Satoshi is considered the smallest unit of a Bitcoin and was named after the creator of the cryptocurrency Satoshi Nakamoto.
1 satoshi = 0.00000001 BTC, and 1 Bitcoin includes 100 million satoshis. So, 100 satoshis is 1 μBTC and 100,000 satoshis is 1 mBTC.
It can also be written this way:
- 0.00100000 BTC = 1 mBTC = 1,000 μBTC
- 0.00010000 BTC = 0.1 mBTC = 100 μBTC
- 0.00001000 BTC = 0.01 mBTC = 10 μBTC
- 0.00000100 BTC = 0.001 mBTC = 1 μBTC
- 0.00000001 BTC = 0.0001 mBTC = 0.01 μBTC
In the case of Ethereum, the smallest unit is called wei. 1 ETH includes 1,000,000,000,000,000,000 wei, which is 10,000,000 more than satoshis in Bitcoin. Weis and satoshis, though, are rarely used as designations in gambling.
Knowing the exchange rate and these principles, next time you will easily estimate the value of a bonus game, a spin, or the size of the win, even if they are indicated in mBTC, μBTC, mLTC, or mETH.