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Is Bitcoin too expensive?
Huge prices don't mean you can't invest - here's why.
With one whole Bitcoin costing as much as $85,000, you might think that investing in Bitcoin is out of reach.
Fortunately Bitcoins are divisible, which means that you can own as little as 0.00000001 of a Bitcoin.
That's a 100-millionth of a Bitcoin – known as a satoshi.
What does vary is the minimum amount of money a Bitcoin exchange, or broker, will let you spend.
For instance, with the Finder app you can get started investing with as little as $5. (Some other platforms go as low as $1, but may well charge other fees.)
Low limits mean that no matter how high Bitcoin climbs, you can still invest. And if you follow a dollar cost averaging strategy, you can reduce volatility - however much you have available to invest.
Disclaimer:
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider,
service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and
involve significant risks – they are highly volatile and sensitive to secondary activity. Performance
is unpredictable and past performance is no guarantee of future performance. Consider your own
circumstances, and obtain your own advice, before relying on this information. You should also verify
the nature of any product or service (including its legal status and relevant regulatory requirements)
and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
James Edwards was the cryptocurrency editor at Finder. He led the editorial strategy and reported on the latest industry news to further Finder's mission of helping people make better financial decisions.
A relatively early adopter, James has been using Bitcoin since 2013 and began working in the industry in 2017. He takes pride in his ability to boil down complex topics into language his parents can understand.
His expertise has seen him called on to report at events such as TechCrunch Disrupt, CoinDesk Consensus and IBM Think, and he has coordinated a vast number of high-profile interviews with the industry's brightest minds.
He is a regular contributor to Nasdaq and is frequently called upon for market commentary in Australia and abroad.
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