Why you should buy Bitcoin in pieces
A lot of people are put off of Bitcoin investing when they see the price of a whole Bitcoin. They wake up, check their phones, and see a lofty $15,000 price tag. Short of selling their homes, they feel like they have no feasible way to break into the Bitcoin market. If you want to invest but you don’t live in the lap of luxury, you still can. That’s where pieces come in, and most investors work with pieces instead of whole Bitcoins.
The Cost of a Whole Bitcoin
The cost of a whole Bitcoin fluctuates frequently. That’s just the nature of the market. One day it’s $5,000, the next day it’s $20,000, and the day after that it’s down to a measly $1,000. Buying a whole Bitcoin always seems like a tremendous gamble, especially since it can be hard to tell which way the market is going to swing. That’s why buying a whole Bitcoin doesn’t seem smart and buying a piece is an alternative that many people can live with.
How Small do Pieces Get?
Bitcoin pieces get very small. The nature of Bitcoin doesn’t necessarily allow it to get broken up the same way a dollar would. A quarter is 25% of a dollar, a time is 10%, a nickel is 5%, and a penny is 1%. Many people find it helpful to use these measurements when they buy pieces of a Bitcoin just because it keeps things simple. In truth, those measurements are kind of arbitrary.
Pieces of Bitcoin can go smaller than one percent, and the math has a tendency to drive people a little crazy. You can purchase 0.003783% of a Bitcoin if someone is willing to sell it. It seems like nothing, but it’s still an investment. As the value of Bitcoin grows and shrinks, so will your money. It doesn’t matter how small of a piece you own.
Are Pieces Profitable?
Pieces are equally as profitable as whole Bitcoins. As the value of Bitcoin changes, so does every little piece. If you invested $200 into a piece of a Bitcoin, you’re going to see the same benefits. If a whole Bitcoin triples in value, your $200 is now worth $600. You’re $400 richer than you were. As long as you sell while you’re still ahead, you still have the potential to grow your money by investing in Bitcoin. Give pieces a shot.
