You want to get your first Bitcoin. How exciting! But wait … $19,000? There’s no way you’re making your first investment in this new and scary thing that big! Not only that but the value of this coin seems to only be increasing. That sounds insane! There’s no way other people are investing this much in digital currencies. Right?
Well, in fact, some people are actually investing THAT much in digital currency, and as the market grows, more and more people are getting involved. But, despite what it might seem like initially, not everyone HAS to invest that much into digital currency.
Yes, the value of one Bitcoin as of December 2020 is over 19,000 USD. That’s a lot! And it’s that high for a lot of reasons. But by no means do you have to spend that much for your first Bitcoin purchase. Bitcoin does not have to be purchased in whole chunks. Rather, Bitcoin can be purchased in increments and fractions. You could buy a whole Bitcoin if you wanted, or you could buy a quarter of a Bitcoin, or even 0.0001 of a Bitcoin.
The smallest you can go is 0.00000001 of a BTC, which is a Satoshi (named after Satoshi Nakamoto, the inventor of Bitcoin). Currently 100 Satoshi = $0.02, so a Satoshi is super small.
The process of buying a small amount of bitcoin is a lot simpler than you think. At Coin Cloud DCMs, you can spend as little as a dollar. So no worries, you won't have to spend $19,000 on your first Bitcoin purchase. All you need for this initial purchase is a dollar and identification, and then you’re all set. Maybe one day you’ll be investing thousands of dollars, but for now you can start small.
Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.
Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.
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