Bitcoin. It is the face of cryptocurrency and it is most people’s preferred choice when it comes to deciding whether to buy cryptocurrency.
At the time of writing, an entire bitcoin is worth over $60,000.
If you did not buy it when it was worth pennies, dollars, or even just $1,000, you may be thinking that it is too late to have any significant investment in this valuable type of cryptocurrency.
Well, what if there was an option to buy less? Here is what you can get with the smallest unit of bitcoin.
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What Is the Smallest Unit of Bitcoin?
Currently, the smallest unit of bitcoin available is called satoshi.
How much is it worth? Well, right now, barely anything, as it is only one hundred millionth of a whole bitcoin.
So, if you factor in an entire bitcoin being worth over $60,000 at the time of writing, you would be lucky to have a satoshi unit be worth six-hundredths of a cent.
There are many more units that you can buy that are only slightly larger than that, and you can get the inside scoop on those in the link.
Why Buy Small?
The answer is because you believe in bitcoin and you believe in the value of it. You do not have to have $60,000 to buy into bitcoin, as plenty of people go in with just $100 or less even with the current value being much higher.
Let’s face it, not everyone has $60,000 lying around but you do not have to to make some money off of bitcoin. Whether you put in the money for an entire coin or a satoshi unit, the goal is to have a good return on investment.
At the time of writing, the value of bitcoin went up by about 33 percent just in the last month. It is better value to have even a small amount of money into bitcoin with that type of return than leaving it in a CD that you might get one percent interest out of or a stock that averages less than five percent annually.
Plus, cryptocurrency is known to be volatile, so if you invest a smaller amount of money into it, you can avoid losing a fortune if it suddenly declines by 10 or even 50 percent in a major spiral.
As said above, investing in bitcoin is all about getting value out of it. At one point, people were buying an entire bitcoin for as little as pennies on the dollar.
Let’s say you bought bitcoin early enough about six years ago and got an entire coin for $600. Well, that investment has increased by 100x since then and it did not take that much upfront capital.
Does that mean bitcoin will be worth $6 million one day? Not necessarily but there is still tremendous room for the worth of this cryptocurrency to grow.
Invest in Bitcoin
With the growth bitcoin has seen over the years, it does not look to be going away anytime soon. If you do not want to miss out, consider investing in the smallest unit of bitcoin if you want to minimize your risk or if you just do not have the funds.
For more bitcoin and crypto articles, check out our Technology section.