According to Pew Research, 16% of Americans say that they have invested or traded cryptocurrency.
While that number is growing, Bitcoin is becoming more expensive, and some people are wondering if it’s worth it to buy the smallest unit of Bitcoin.
We have the perfect guide to help you determine if it’s worth it to buy a small unit of Bitcoin, so keep reading!
How Small of Bitcoin?
According to the inside scoop, you can buy the smallest fraction of Bitcoin and still have it be worth something. The smallest value of Bitcoin that you can own is 0.00000001 BTC.
Some investors also call this Satoshi. This Bitcoin is worth 100 million Satoshis, but you’ll still own that Bitcoin.
You can also buy fractions of shares in Bitcoin. And those fractional shares increase a little bit each time Bitcoin climbs higher. The best part is, that you can buy as small of a fraction as you want and still get an increase whenever the price raises.
However, keep in mind that if you buy too small of a fraction, then the fees will end up costing more than it would buy the coins. There are always mandatory fees that are charged by minders. There are also service fees on the platform to buy the coins as well.
Choose a Platform
If you found a small fraction of Bitcoin that you want to purchase, first, you should choose a platform. Whether you’re going to buy or sell, you have to find a platform that fits your style.
There are generally two types of exchanges. There are peer-to-peer exchanges and traditional exchanges.
A traditional exchange has been around for a longer time, and you’ll use an order book to complete your transaction. This type of platform will act as a middleman, helping you get through that trade.
A peer marketplace won’t operate as a third party, and you’ll directly interact with a buyer or trader. Don’t worry, though. There are still security measures in place to keep everyone safe.
How to Buy Bitcoin
Once you’ve found a platform that you want to choose, you’ll have to figure out how to buy Bitcoin. It’s a very simple process, but if you’re a beginner, it’s easy to get confused.
You’ll then have to connect the exchange you chose to your payment option. Once you do that, you can place an order and then get the Bitcoin transferred to your digital wallet.
Learn More About Buying the Smallest Unit of Bitcoin
These are only a few factors to consider when you’re trying to figure out if you should buy the smallest unit of Bitcoin, but there are many more factors to consider.
We know that determining whether or not to buy crypto can be stressful, but we have more great information for you.
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