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 won’t 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 money to make a transaction in Bitcoin. The exact amount a transaction costs changes all the time, but since transaction fees can be over $5 at times, 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 most people (especially if you are looking to own them on Cash App or Coinbase and not worry about sending them)!
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 Fraction of a Bitcoin" contains information about the following Cryptocurrencies: