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I just received 1 Mi as test. And it seems to be smallest amount to transfer. So I guess that's the reason that IOTA is dubbed MIOTA.
But when I check https://thetangle.org/statistics/tokens-distribution there are wallets with less than 1Mi amount in them. How is that?
What you are referring to as 1 Mi is 1 MIOTA, which stands for 1 million IOTA.
1 MIOTA is the standard traded amount of IOTA on exchanges, but the you can divide it into 1 million single IOTAs which is the smallest amount to transfer. By holding 1 MIOTA you have the capability of sending 1 million 1 IOTA transactions.
See the following image for the full breakdown:
This should explain it. A single iota is the smallest of value, a Mi megaIOTA is 1,000,000 iota:
