Convert Bitcoin to Panamanian Balboa
Please provide values below to convert Bitcoin [BTC] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Bitcoin.
How to Convert Bitcoin to Panamanian Balboa
1 BTC = 8.44990905059608e-06 PAB
Example: convert 15 BTC to PAB:
15 BTC = 15 × 8.44990905059608e-06 PAB = 0.000126748635758941 PAB
Bitcoin to Panamanian Balboa Conversion Table
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Bitcoin
Bitcoin (BTC) is a decentralized digital currency that enables peer-to-peer transactions without the need for a central authority or intermediary.
History/Origin
Bitcoin was created in 2009 by an anonymous person or group known as Satoshi Nakamoto, introducing blockchain technology to ensure secure and transparent transactions. It was the first cryptocurrency and sparked the development of numerous other digital currencies.
Current Use
Bitcoin is widely used for online purchases, investment, remittances, and as a store of value. It is also accepted by some merchants and businesses worldwide and is increasingly integrated into financial markets and services.
Panamanian Balboa
The Panamanian Balboa (PAB) is the official currency of Panama, subdivided into 100 centésimos, used primarily for coinage alongside the US dollar.
History/Origin
Introduced in 1904, the Balboa was established as Panama's official currency to promote national identity, initially backed by gold, but since 1941 it has been pegged at par to the US dollar, which is also widely accepted in the country.
Current Use
Today, the Balboa is mainly used for coinage and official transactions within Panama, with the US dollar serving as the primary currency for most practical purposes, including banking and commerce.