Satoshis (Sats) or Bitcoins are the oldest cryptocurrency. Satoshis are the subunit of bitcoin, just like cents are the subunit of euro. You can get them on different exchanges or simply use existing bitcoins and thus satoshis. To own and hold satoshis, you need a bitcoin wallet.
Here is a more detailed description about Satoshis:
What are sats?
Sats is short for Satoshis, which is is the name for the subunit of Bitcoin.
Sats are fractions of a Bitcoin, and 100 million sats are equal to one Bitcoin
(similar to how 100 cents make up one Euro). Currently (as of Jan 2023), one
cent buys around 60 sats, but - like with all currency exchanges - this
changes depending on the price of Bitcoin. Sats are most easily sent through
the
Lightning Network, which is like PayPal for Bitcoin - aka payments can be made in seconds.
Where can I store my sats?
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Before you change your Euros or Dollars into sats, you will need a crypto
wallet to store them (which is like your bank account or PayPal account).
There are several wallet apps available. A very basic option is the "Wallet
of Satoshi" app, which must simply be
downloaded from the app store. To use it, simply adjust the currency and language to your preference,
and link an email address for recovery.
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Another recommended wallet for usage in browsers is Alby. Go to
getalby.com, install Alby
by adding the browser extension, choose a password, and create an Alby
wallet (advanced users can also add an existing wallet). Just provide an
email address for recovery and, if you want, choose a Lightning Network
address. Once installed, you will find Alby on the top right corner of your
Browser.
How can I get sats?
There are several ways to get sats for use with Lightning.
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If you already have Bitcoin, you simply need to send the desired amount to
your Wallet of Satoshi app. You can find the address to do so in the app by
clicking RECEIVE and then BITCOIN.
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Alternatively, you can buy sats using the Wallet of Satoshi app (head to the
"Buy Bitcoin" option). Then select the amount you wish to spend, and the
sats will be purchased and available in your wallet within a few minutes. Do
note that the fees are high and the minimum spend is 30 Euros.
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A cheaper option is to first buy sats on a low-cost Bitcoin exchange, and
transfer them into your wallet. We recommend you download the
Relai app, enter the referral code REL126065 to reduce fees, and choose a code for
the app. Then simply buy Bitcoin! The minimum amount is 10 Euros, and the
payment will be processed by Relai instantly if you pay with a credit card.
Note that it can take up to 4 hours for the sats to arrive in your
wallet.
Once they are received, you can easily transfer them to Wallet of Satoshi,
from where they can be deposited into your DuelDonkey account.
We recommend the following wallets:
Wallet of Satoshi (Mobile)
