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Jager Meaning

Dec 9, 2022 | Updated Jul 18, 2023
Jager is a unit of measurement which represents a fraction of the cryptocurrency BNB (Binance Coin).

What are Crypto Denominations?

A standard crypto unit measures the value of one token or currency. All crypto units consist of a base or main unit and subunits, also called denominations. This is the same as most fiat currencies today. For example, in the United States, $1 is the base unit, while a denomination would be 100 cents. 

Cryptocurrencies operate with similar denominations. For example, for Bitcoin, 1 BTC is the base unit, while the subunits are called Satoshis (named after Satoshi Nakamoto). 

1 Satoshi = 0.00000001 BTC. 

What is Jager?

A Jager is the smallest denomination of Binance Coin (BNB). A Jager can be divisible up to 8 decimal places.

1 Jager = 0.00000001 BNB

“Divisibility” refers to the ability to divide a cryptocurrency within its prescribed set of rules or protocols. This is again similar to fiat currency. A U.S. dollar, for example, cannot be divided into a unit smaller than 1 cent. 1 Jager is the smallest unit that can be measured for BNB.

Depending on their protocol, different cryptocurrencies can be divided up to 8 decimal places or more, depending on whether the unit is divisible or indivisible.

The Origin of the Term “Jager” in Binance

The Jager unit was named after the Telegram handle of a Binance Community Manager at the time of its inception. 

Minting

Minting in the context of blockchain refers to the mechanism through which new coins or tokens are produced and introduced into circulation.

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Cold Wallet

A cold wallet also referred to as “cold storage” is A device or system that secures crypto private keys offline.

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Atomic Swap

An atomic swap is a peer-to-peer trading mechanism that facilitates the exchange of digital assets across separate chains without using intermediaries. It enables users to transfer cryptocurrencies via smart contracts.

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