Bitcoin can be further divided into Satoshi, which is the smallest unit of Bitcoin and can be handled for a transaction. 1 Satoshi is equal to 0.00000001 Bitcoin.
Here is the relation between Satoshi and equivalent Bitcoin.
100,000,000 Satoshi = 1.00000000 BTC (Bitcoin)
1,000,000 Satoshi = 0.01000000 BTC = 1 cBTC (bit cent)
100,000 Satoshi = 0.00100000 BTC = 1 mBTC (em-bit)
100 Satoshi = 0.00000100 BTC = 1 Bit / μBTC (you-bit)
1 Satoshi = 0.00000001 BTC
As on 15 January 2018, 1 Satoshi was approximately equivalent to 0.0001366320 USD. Please note values fluctuate from minute to minute.
We hear many people talking that they cannot afford Bitcoin because they feel it is very expensive or they do not have sufficient funds to invest for one Bitcoin. It reveals that people have some misunderstanding that the minimum amount to be invested in Bitcoin is minimum one whole unit.
For comparing of rates of different crypto currency vis-a-vis different fiat currency you can try Bitcoin Price.
What do investors not know that they can invest even minimum of one dollar or whatever they can afford. They can invest in multiples of Satoshi. They can invest in one Bitcoin, in half Bitcoin, quarter Bitcoin or even in the fraction.
Most new investors entering the market do not have much knowledge regarding the unit and subdivided units of crypto currency that can be purchased. They believe that they have to purchase a minimum of one whole unit of crypto currency. In many cases, one whole unit of crypto currency is out-of-bound for many investors.
Developer Jimmy Song feels that there should some form of standardization among all crypto currencies. His standard proposal explains the utilization of small denominations. It will reduce user errors on small amounts. It clears the concept that user not to need buy one whole unit. It allows easier comparison between different crypto currencies. Currency should be till two decimal places which will be easy to handle.