You Can Buy As Little As One One Hundredth Million of a Bitcoin
You don’t have to buy a whole Bitcoin to own Bitcoin, you can buy a fraction of a Bitcoin. You can own as little as 0.00000001 BTC (AKA 1 satoshi).
- A satoshi is the smallest unit of value in Bitcoin (BTC).
- There are 100,000,000 satoshis (sats) in a Bitcoin.
- That means you can own 0.00000001 BTC and still “own Bitcoin.”
- At the current value of Bitcoin is $8,000, at that price 1 sat would cost you $0.00008.
- Since most people in the world can afford $0.00008, most people can afford Bitcoin (including you).
Now with that said, there are some considerations.
- First off, exchanges usually wont’ deal with buy orders of less than $5 or so, so you’ll need to buy at least $5 worth of Bitcoin.
- Second off, it costs between a dime and a dollar to send Bitcoin depending on current network fees, so you’ll probably want a little more than $5 worth of Bitcoin for that reason.
- Third, there are fees involved in buying Bitcoin, and on a simple to use wallet / broker / exchange like Coinbase fees are going to run you about $3.
Ok, so realistically you probably want to grab at least $20 of Bitcoin if you want truly own Bitcoin, but guess what… You can use a service like Square’s Cash App to buy $1 worth AND you can lend your computer’s processing power to a mining pool to get a very small amount too (with electricity being your main cost).
So point being, while owning a few Satoshis isn’t something literally everyone in the world can accomplish, it is well within the reach of many!
While owning a whole Bitcoin is a worthy goal, it is not a requirement. Bitcoin is highly divisible, and in fact that is one of the things that makes it useful as money.
"You Can Buy a Faction of a Bitcoin" contains information about the following Cryptocurrencies: