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Author Topic: bitcoin conversion question  (Read 920 times)
hatrabbit
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March 05, 2017, 07:38:16 PM
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I am confused about how my bitcoin wallet (Bread wallet) is reporting my balance.  I currently have $40.26 USD, and my wallet equates it to b31,786.

I just looked online and found that one bitcoin converts to $1273.65 US.  I would expect $40.26 USD to be something like b.0316.  I know I'm missing something, can someone help me grasp this?  Thanks.
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unamis76
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March 05, 2017, 07:39:46 PM
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breadwallet reports balance in bits as a default, but you can change that in the app's settings. BTW, there a breadwallet thread on the forums...
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March 10, 2017, 04:11:15 PM
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breadwallet reports balance in bits as a default, but you can change that in the app's settings. BTW, there a breadwallet thread on the forums...
True.  I would argue that the best unit of measurement for a Bitcoin wallet is mBTC, since 1mBTC is a similar price to a euro, dollar or pound (about $1.20 at the current rate), so its units are most convenient.  Still, I do it in BTC because when you have to pay, sites usually ask you as an amount of Bitcoin, and one slight conversion mistake could well be disastrous, especially if you pay a lot.
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