Those who are new to the cryptocurrency industry and want to invest for the first time, often don’t know that you don’t have to buy a whole bitcoin.
If this is the case, according to current market prices, you would have to spend almost 10,000 € to buy 1 Bitcoin.
Fortunately, this is not the case! Cryptocurrency is an investment accessible to everyone, even with minimum amounts.
Let’s find out why.
The fractions of Bitcoin
Just as the euro is divided into cents, so is Bitcoin divided into fractions.
The smallest fraction of Bitcoin is 0,00000001 BTC
On the Young Platform exchange, you can buy fractions of Bitcoin by setting the amount in euros you want to invest.
For example, if you want to spend € 100 and the price of Bitcoin is € 10,000, you get 0.01 BTC.
By clicking on Buy, the summary will show you how much Bitcoin you are buying.
Please Note: These examples do not take into account any exchange fees on transactions. For more information on fees click here.
Strategic for small investors
The possibility of splitting Bitcoin into small units has advantages in many ways:
- It is a good opportunity for small savers who want to buy Bitcoin with what they can put aside every month;
- They are optimal for those who invest frequently and prefer to make more purchases but with smaller amounts.
- It gives the possibility to apply the “33% technique”, i.e. to buy in 3 different moments using 33% of the entire amount you want to invest each time. In this way, you are sure to buy Bitcoin at an average price compared to the period of time in which the 3 transactions take place: 3 days, 3 weeks, 3 months…
The basic unit of measurement for Bitcoin
Bitcoin’s units of measure follow the International System of Units like all other currencies. The most used unit of measure is the “bitcoin” even for its smallest fractions, but sometimes they are also referred to as bit or satoshi:
BTC (Bitcoin) = 1
bit = 0,000001 BTC
satoshi = 0,00000001 BTC
Young Platform is not acting as your broker, agent, consultant or as any other fiduciary function and no information or communication provided by Young Platform in connection with the cryptocurrency market will constitute advice. You are solely responsible for any decision regarding the storage, purchase or sale of cryptocurrency and such decision must take into account your risk tolerance and financial circumstances. We recommend that you carefully read the risks involved in investing in cryptocurrency.