Crypto is a currency that is widely traded in the cryptocurrency world. It is created by combining a private key with a public key, and there are three different types of crypto.
There are Bitcoin, Ethereum, and Dash, and each type of coin has a different purpose. Bitcoin is the traditional currency (like currencies today) while Ethereum and Dash are more used for financial transactions.
While sat crypto is a cryptocurrency, it is actually a security token. Like a typical security token, it is created based on the issuance of a certain number of shares in a company. For example, a company might issue one share and you get 1% of the company’s revenue for holding that share. Like most security tokens, sat crypto only exists for a certain period of time, unless you issue a new one.
Unlike other cryptocurrencies, sat crypto is not going to last very long. For example, if a company issues 500 sat crypto, that means they will not last for ever. In fact, no one can exchange sat crypto for any other crypto or fiat currency.
So how does it work? Essentially, it’s a way to provide a layer of security on top of other cryptocurrencies.
The most common way to exchange sat crypto is through a 3rd party exchange service like Bitfinex. There are other ways too, like one where you make a trade with a known seller and they are then able to move sat crypto to your account, but you still have to use one of those exchange services. The only reason you are able to use them is because they are not going to be around for ever.
The 3rd party exchanges of sat crypto are still in use, but there are three main ones that dominate. Bitfinex (the largest), Coincheck (second largest), and Bitstamp (third largest). Bitfinex is the only one that has a clear advantage over the other two. It’s the only one that has a partnership with a crypto exchange that is set up and run by their partner.
Bitfinex has a partnership with Bittrex, but it only allows users to sell satoshi which is to exchange for fiat money and keep the funds. This can be done in multiple ways. The easiest is to use the exchange itself to buy more satoshi so you can use the funds to buy goods. The next option is to sell your satoshi for fiat money so that you can buy more coins.
You will likely need to be careful when selling your satoshi for fiat money because of the trade. Bitfinex is using an exchange that operates on the exchange code (the exchange is open source) so that if you make a transaction using an exchange code you get the same amount of currency back, but you lose the exchange code. This means that if you make a purchase using an exchange code you have to pay for that currency back and you lose the exchange code.