1,000 mBTC = 1 BTC.
A millibitcoin (mBTC) is a 0.001th fraction of a Bitcoin. A satoshi is a .00000001th fraction of a Bitcoin. An mBTC is comprised of a hundred thousand satoshis.
If you haven’t heard about Bitcoin yet it is a virtual currency or cryptocurrency. The original creator of Bitcoin was Satoshi Nakamoto and no one actually knows who they were. The smallest unit of Bitcoin is called a Satoshi in their honor. There are eight decimal places in the division of a full Bitcoin. You can own a fractional amount of BTC because of it. The satoshi is one one hundred millionth of a single bitcoin. The maximum circulating supply of Bitcoin is capped at 21 million.
Here is a table of more values of mBTC to BTC conversions. This should clear up a few misconceptions.
Bitcoin has been referred to as digital gold and has had an all-time high value of $66,000. As you've heard the cryptocurrency market is volatile so the bitcoin price changes daily. The Bitcoin conversion rate to the US Dollar would therefore change on a daily basis as well. The BTC exchange rate and the value of Satoshis are susceptible to this. That is why those that recommend investing in cryptocurrencies recommend dollar-cost averaging (DCA). That means buying in with the same amount of money at a regular interval so you are buying when the asset is low and when the asset is high. If you buy all at once, that is closer to gambling because it is a single bet that the price will go up beyond what it is at at the time of purchase.
Many owners of cryptocurrencies do not have their own Bitcoin wallet, but instead, keep their digital currency in a crypto exchange. This isn't as safe because if the exchange goes down, you might lose the crypto they are holding for you. BTC holders use exchanges to hold their crypto to be able to sell faster, as well as avoid transaction fees. They can then convert to fiat currencies and withdraw to their bank account at a faster clip than if they had to transfer from their hardware wallet and then sell their BTC and finally transfer their money to the bank.
If you have heard about Bitcoin you've probably heard about all the different forks of Bitcoin. A fork for any cryptocurrency is a complete change in how the protocol of the coin's blockchain functions. This results in two branches, which are like a fork in the road. There is the main branch that continues on that is referred to as Bitcoin, and there are offshoots that have all sorts of different names. These include Bitcoin Cash, Bitcoin Satoshi Version (BSV), etc.
A benefit of owning Bitcoin in your own wallet is that those wallets will also receive any forked versions of BTC as well. That means that just by holding Bitcoin you could be earning passive income from all the different BTC forks sent to your wallet. These all have their own USD price and more often than not they don't amount to much, but it's still free money.
The smallest Bitcoin units are called Satoshi. Bitcoin is divisible into smaller units and a common unit is the mBTC. There is exactly one thousand mBTC in one BTC. The current rate of Bitcoin can be found using CoinMarketCap. They have historical prices as well as the current price denoted in United States Dollar. They even have the 24-hour trading volume and coin prices of over 9,900 different cryptos.
In no way should this article be taken as legal advice or financial advice, and is for your entertainment purposes only.