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What is a Fraction of a Bitcoin? How can it be bought?

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Overview

Bitcoin is one of the leading cryptocurrencies that has reached great heights as its value is increasing day by day. Its price has seen a roller coaster ride in the past few years and the traders are showing interest in buying, selling, and trading Bitcoins; they have made millions during the process. There is a common misconception that it should be purchased as a whole Bitcoin if the user wants to buy one. Further Bitcoin units follow the international system of units for measurement, which is the global measurement standard used for a long time. Some of the commonly used units of measurement for Bitcoin are expressed in Satoshis and other names.

Why should you invest in cryptocurrencies?

Because of the 2019 pandemic, several governments have injected money into their economy by printing new notes. As a result, it has resulted in inflation and decreased value of the currency. Investors witnessing these market movements have switched from fiat currency investments like the stock market to cryptocurrencies, especially Bitcoin investments.

Try Researching about Bitcoin

The user needs to research Bitcoin and other cryptocurrencies, their future, and what are all the factors that influence the price movements of the cryptocurrencies to buy as little as a fraction of Bitcoin. It is considered as one of the worthy investments to invest in. But we would like to recommend that before entering the cryptocurrency market they should understand the cryptocurrency first and the basics before taking up a plunge into this industry.

About Satoshi

A fraction of Bitcoin is called Satoshi. This term comes from the creator of Bitcoin “Satoshi Nakamoto”. Even though nobody knows who Satoshi Nakamoto is, it is one of the honorable names to keep it for the smallest unit after this person. When Bitcoin has been mass adopted, the term satoshi has stuck to it in all conversations.

How many Satoshis make 1 Bitcoin?

Every single Bitcoin is made up of several units of a Satoshi, and people might wonder how many satoshi make 1 Bitcoin. It is divided into 8 decimal places which imply there are 100,000,000 million Satoshis in a single Bitcoin. It also means Bitcoin can be divided into 100,000,000 fractions.

Fraction of Bitcoin

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Fiat currencies are divided by 100 for example a US dollar can be divided into 100 cents. Cryptocurrencies are an expansive setup, and more versatile. Even though numerous cryptocurrencies differ from each other, Bitcoins can be broken down to 100 million units, called Satoshis which implies in a single bitcoin, there are 100 million Satoshis.

Where can you buy a fraction of Bitcoin?

Now as we have understood about the fraction of Bitcoin, if you are wondering where to buy bitcoin in India, you need to know where you can purchase them. It can be purchased in fractions on any of the cryptocurrency exchanges like WazirX, around the world. Currently, the bitcoin price in India is 45,91,216.24 (btc price inr).

How can you buy a fraction of Bitcoin?

To buy a fraction of Bitcoin, the user should create a bitcoin wallet and purchase BTC. This process is well streamlined in various bitcoin exchanges in India. When the user creates an account, they are given access to a buying process. Cryptocurrency exchanges allow the users to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, etc. The exchange will charge a small amount as transaction fees for their services.

Wrap up

To conclude, buying bitcoin is an expensive process as its value is going up. People can buy bitcoin in small amounts and later they can go in for larger purchases whenever they have funds. This is good for people who would like to start small with cryptocurrencies to test the waters. In the past few years, the price of Bitcoin has gone up and its value has increased tremendously; people have started to buy smaller units as an investment. Breaking the Bitcoin into smaller fractions will also keep the coin usable when the price rises.

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