diff --git a/src/main/scala/org/scalacoin/currency/CurrencyUnits.scala b/src/main/scala/org/scalacoin/currency/CurrencyUnits.scala
new file mode 100644
index 0000000000..857857ce13
--- /dev/null
+++ b/src/main/scala/org/scalacoin/currency/CurrencyUnits.scala
@@ -0,0 +1,84 @@
+package org.scalacoin.currency
+
+import scala.math.BigDecimal.RoundingMode
+
+abstract class BitcoinCurrencyUnit(val value:Double) {
+  def toStringWithoutCurrencyLabel : String = CurrencyUnits.currencyFormatter(value)
+  def ==(c : BitcoinCurrencyUnit) = {
+    require (c != null, "Currency units cannot be null")
+    CurrencyUnits.toSatoshis(this).value == CurrencyUnits.toSatoshis(c).value
+  }
+}
+
+case class Satoshis(override val value: Double) extends BitcoinCurrencyUnit(value) {
+  require(value.isValidInt, "The satoshis constructor cannot be a double with decimal places, satoshis are the smallest currency unit in bitcoin")
+  override def toString = toStringWithoutCurrencyLabel + " Satoshis"
+  override def toStringWithoutCurrencyLabel = value.toLong.toString
+}
+
+case class Bits(override val value: Double) extends BitcoinCurrencyUnit(value) {
+  override def toString = toStringWithoutCurrencyLabel + " Bits"
+}
+
+case class Bitcoins(override val value: Double) extends BitcoinCurrencyUnit(value) {
+  override def toString =  toStringWithoutCurrencyLabel + " BTC"
+}
+
+case class MilliBitcoins(override val value : Double) extends BitcoinCurrencyUnit(value) {
+  override def toString = toStringWithoutCurrencyLabel + " mBTC"
+}
+
+object CurrencyUnits {
+  val oneSatoshi = Satoshis(1)
+  val oneMilliBit = Satoshis(100000)
+  val tenMilliBits = Satoshis(1000000)
+  val oneHundredMilliBits = Satoshis(10000000)
+
+
+
+  /*considering the scalar for a 1 BTC to be 1*/
+  val satoshiScalar = 0.00000001
+  val bitsScalar = 0.000001
+  val bitcoinScalar = 1
+  val milliBitcoinScalar = 0.001
+  def satoshisToBits(satoshis: Satoshis): Bits = {
+    Bits((satoshis.value * satoshiScalar) / bitsScalar)
+  }
+  def sataoshisToBitcoin(satoshis: Satoshis): Bitcoins = {
+    Bitcoins(satoshis.value * satoshiScalar)
+  }
+
+  def bitsToSatoshis(bits: Bits): Satoshis = {
+    Satoshis((bits.value * (bitsScalar / satoshiScalar)).toLong)
+  }
+
+  def bitsToBitcoins(bits: Bits): Bitcoins = {
+    Bitcoins((bits.value * bitsScalar) / bitcoinScalar)
+  }
+
+  def bitcoinsToSatoshis(bitcoins: Bitcoins): Satoshis = {
+
+    Satoshis((bitcoins.value / satoshiScalar).toLong)
+  }
+
+  def bitcoinsToBits(bitcoins: Bitcoins): Bits = {
+    Bits((bitcoinScalar * bitcoins.value) / bitsScalar)
+  }
+
+  def milliBitcoinsToSatoshis(milliBits : MilliBitcoins) = {
+    Satoshis((milliBits.value * (milliBitcoinScalar / satoshiScalar)).toLong)
+  }
+  def currencyFormatter(value : Double) = {
+
+    if (value == 0) "0" else "%.5f".format(BigDecimal(value).setScale(5, RoundingMode.CEILING)).replaceAll("[.0]*$","")
+  }
+
+  def toSatoshis(unit : BitcoinCurrencyUnit) = {
+    unit match {
+      case x : Bitcoins => bitcoinsToSatoshis(x)
+      case x : Bits => bitsToSatoshis(x)
+      case x : MilliBitcoins => milliBitcoinsToSatoshis(x)
+      case x : Satoshis => x
+    }
+  }
+}