In its short history, Bitcoin has gone from being worth cents to an asset that has crossed the five-figure line several times. Given these price changes and the point markets are at, anyone who consults Bitcoin prices must find a way to internalize this information.
Expressing the price of a single coin in US Dollars or any other fiat unit, does not allow the viewer to grasp the full story of the Bitcoin revolution. Seeing the price of US Dollars or other fiat currencies in terms of Satoshis, not only tells the full story of this revolution.
Why Should you Look at the Price of Fiat in Sats Instead of the Other Way Around?
There are practical advantages of knowing the price of a single USD in Satoshis. These are the 3 main practical advantages that this WordPress Satoshi to USD plugin will give you:
- You can immediately tell anyone how much you pay for your transactions for comparison purposes
- It allows you to track the fiat equivalent of Lightning Network transactions
- If you are stacking Sats, it allows you to know the fiat equivalent of your stash and the rewards you are claiming
There are also some important structural insights that come from understanding how much $1 USD is worth in Satoshis:
- Looking at prices in terms of fiat does not allow us to take advantage of the flexibility that Bitcoin units and denominations afford
- It gives you a different understanding of your savings in a low interest rate environment
- Purchasing power is distorted. It makes the viewer think about how much it would take to buy one coin. You should think instead of how little it would cost to buy a single Dollar
Why Should you Use this WordPress Bitcoin Price Plugin?
There are not too many WordPress Bitcoin price plugins that allow you to reap all these benefits. This plugin will give your audience an advantage, while running smoothly on your site. We know this because:
- Our WordPress Bitcoin price plugin has been running smoothly on our site for a while
- It is light and does not conflict with other plugins
- Its price updates are quick and come from multiple sources
- You will be able to get the price of your favorite fiat currencies in Satoshis – EUR, GBP, and JPY are already integrated
Bitcoin Units and Denominations are Designed to Price Fiat in Sats
This WordPress Bitcoin price plugin will highlight the importance of using the whole range of BTC units. Looking at how BTC has progressed since its inception, it is possible to see that the price of fiat, has dropped dramatically. There is no better way to express this than using Sats.
Here are more reasons why this is true:
- Generally speaking, currency prices are expressed in terms of 1 USD, 1 EUR or 1 GBP and this is what people are used to
- Bitcoin prices have remained above the four-figure mark since the beginning of 2017. Sats are therefore the only viable unit to understand how much $1 USD is worth
- People are generally not comfortable with small fractions, but Bitcoin can be divided up to the one hundredth million decimal
- Using Sats and switching the price denominator, allows you to get rid of the decimal points
- It is possible to buy fractions of a Bitcoin, which changes the mentality of those looking to buy BTC potentially leading to greater adoption
When you See how Many Sats a Dollar Buys, you Might Start Stacking them!
This last point can lead you to understand the value behind stacking Sats. If you see that one USD buys you X Sats and then the next day you see that the same USD buys you less than yesterday, then you will automatically understand the stacking Sats mentality:
- Since you can buy small amounts of Bitcoin, buy some with the money you would otherwise put in a savings account
- Those savings will immediately start moving with the market in a very visible way
- The upside is huge while the downside is limited because it is not money you need immediately. This allows you to stack and hodl long-term
Do you Really See Inflation?
When it comes to inflation, this WordPress Bitcoin price plugin really highlights how fiat price plummets fast. Maybe people in countries that have experienced high inflation rates are used to the USD going well into 4 and 5-figure territory in terms of their local currency.
That gives them a better historical understanding about how the local currency tends to devaluate quickly. The issue is that this happens with the USD and other leading currencies as well – EUR, GBP, JPY.
As you see the price of a single unit of fiat in Satoshis with this WordPress plugin, you will see that happen with strong fiat currencies.
A WordPress Bitcoin Price Plugin that Encourages Saving Money
A new way of looking at the price of fiat units in Satoshis should encourage people to consider BTC as a saving mechanism.Once you start saving Bitcoin or stacking Sats with the small money you have left at the end of the month you will notice inflation.
There is some speculation in the price, but the fundamentals are strong. The plugin flips the way you see Bitcoin prices; it reiterates how the fundamentals of fiat are weak. With the rate at which central banks print money, those fundamentals can catch up with speculation pretty quickly.
Saving in Bitcoin can increase your purchasing power. As the price of a dollar in Sats drops, you can see that if you exchange your money back into fiat, you will have more fiat than the amount you put in. This might not be the case at every point in time, but it tends to be the case in the longer-term.
A Bitcoin Price Tracker that Enthusiasts Will Embrace
These are factors that long-term hodlers already know. Therefore, using a WordPress plugin to follow the price of $1 USD or a single unit of fiat in Sats, is something Bitcoin enthusiasts will appreciate.
It will also help them make the case for Bitcoin to their nocoiner friends. But above all, it will help keep them engaged with your website.