Jager
The smallest denomination of Binance Coin is called a Jager. This is the equivalent to 0.001 BNB.
What Is Jager?
Jager is a small denomination of BNB that is divisible by 8 decimal places. For example, Satoshi is the smallest denomination of a Bitcoin (BTC). It is named after the Telegram handle of the then Binance’s Community Manager, Jager.
1 Jager = 0.00000001 BNB
Cryptocurrencies are digital assets that are created from lines of code. They can be divided into smaller parts, one of which is called a Satoshi after the founder of Bitcoin. A Satoshi is one hundred millionth of a Bitcoin or 0.00000001 BTC.
Why does it matter?
Cryptocurrencies are valuable and have a finite supply, similar to gold. However, unlike gold, cryptocurrencies can be divided into smaller parts to make them more manageable and easier to spend.
The value of coins in circulation is also affected by how many decimal places are used. This means that for some cryptocurrencies there are only two decimal places, while others have eight. For example, if there are 100 coins and the value is $10, then each coin is worth 10 cents. However, if the value is $100, then each coin is worth 1 dollar.
Bitcoin, Litecoin, and Dogecoin all have different prices because they have different values. Bitcoin has the highest value and has an additional zero at the end, which gives it two more decimal places than Litecoin. Dogecoin has the lowest value and has four more decimal places than Bitcoin. This means that the price of Dogecoin doesn’t need to increase as much as Bitcoin or Litecoin to achieve the same value.