Bitcoin prices are considered high and expensive, but you do not need to buy a single whole Bitcoin. Instead, you can buy a tiny fraction of it, and of course, the price is much lower than buying the entire coin.
In this article, I will explain to you the smallest amount of bitcoin you can buy and from where you can buy them.
Minimum Bitcoin Amount You Can Own
Bitcoin is divisible by eight (8) decimal places. This means you can own the smallest amount of 0.00000001 worth of Bitcoin, commonly referred to as one (1) Satoshi.
However, owning and buying are two different processes. While you can easily hold 0.00000001 of a Bitcoin in your crypto wallet, you will encounter difficulties purchasing the same amount from cryptocurrency exchanges. This is because most exchanges have different minimum purchasing amounts for Bitcoin. This is often referred to in exchanges as “order size”.
Almost all crypto wallets can store any minimum Bitcoin amount you give it. Some of the best wallets are Exodus (software wallet) and Trezor (hardware wallet).
Minimum Bitcoin Amount You Can Buy From Exchanges
The easiest and fastest way to buy bitcoins is to purchase them through cryptocurrency exchanges. You can use various payment methods such as debit or credit cards, wire transfers, etc. Most cryptocurrency exchanges have similar payment methods to convenience their customers. However, they have a different minimum threshold amount of Bitcoin you can buy from them.
Below is the table
|S/no||Crypto Exchange||Minimum Order Size||Resources|
|1||Binance||At least 10 USDT||Refer to the latest Binance Trading Rules|
|1||Coinbase Pro||Greater than 0.000016, or at least USD 2 in your local currency||Refer to the latest Coinbase Pro Trading Rules|
|2||Huobi Global||At least 10 EUR||Refer to the latest Huobi Trading Rules|
|3||Kucoin||At least 0.1 USD||Refer to the latest Kucoin Trading Rules|
|4||Kraken||At least 0.0001 BTC||Refer to the latest Kraken Trading Rules|
|5||Bitfinex||At least 0.00006 BTC |
(use a Bitcoin calculator to check against the current BTC price)
|Refer to the latest Bitfinex Trading Rules|
Minimum Bitcoin Amount You Can Buy From Localbitcoins
Besides buying from cryptocurrency exchanges, you can also consider buying from LocalBitcoins. This is a P2P marketplace where both buyers and sellers will register themselves on the platform, and the sellers will list their selling services there.
You can sort by country, the amount of money you wish to purchase and your preferred payment method, such as online transfer, PayPal, cash, wire transfer, etc.
LocalBitcoin requires users to verify themselves, and they act as escrow in the buying and selling process. So if you choose to buy BTC using Apple Pay, the platform will only pay the seller once both parties complete and verify the transaction.
The image below shows the sellers and their selling limits. It can go as low as USD 3 to 4 dollars.
How Much Should You Buy?
Depending on your budget and risk appetite, the cautious advice is only to use the amount of money you can afford to lose comfortably to buy the cryptocurrency of your choice, including Bitcoin.
This article shows you that you can start from as low as $2, or even less, in some exchanges, and you do not need to buy one whole Bitcoin. Bitcoin is divisible into eight (8) decimals places, and we can always buy and hold a tiny fraction if we want.
It is advisable to buy Bitcoin from crypto exchanges like Binance and Coinbase because they are often KYC and AML compliant, with solid security in place, to protect your personal information and crypto assets.
You can always start buying Bitcoin using any amount you are comfortable with.