How much do I need to get started with crypto?

How much do I need to get started with crypto?

You can start out with as little as $10, $1,000, $100,000 or more! As a rule of thumb, always do your research and only invest what you are comfortable with. Cryptocurrencies are often volatile, meaning the price can fluctuate frequently, so it is important you understand what you are getting into.

A common misconception people have when it comes to cryptocurrencies is that they have to buy one entire cryptocurrency. But this isn’t true. The beautiful thing about cryptocurrencies is that you can buy them in fractions and not as a whole unit (because they are purely digital).

However, in a traditional stock market, you can only buy an entire share. For example, you can buy 1 share of Amazon, but not half a share of Amazon if you wish. This prevents some people from investing in Amazon because they can’t pay $3,200+ USD for 1 Amazon share (price as of March 2022). 

Yet some people are turned away from crypto and bitcoin (BTC), specifically, because they look at the price of 1 bitcoin ($51,000 CAD as of March 2022) and think “I can’t afford that!” But that isn’t true because you can buy a fraction of bitcoin. You don’t need a lot of money to get started with crypto.

You don’t have to buy a full bitcoin. You can buy half of a bitcoin (0.5 BTC), 1/10th of a bitcoin (0.1 BTC), even one hundred millionth of a bitcoin (0.00000001 BTC) – the smallest unit of bitcoin is called a satoshi.  

This divisibility allows for micro-transactions and for people to start out small because you can buy fractions of cryptocurrencies, like $10. Most exchanges and platforms will let you specify the amount you wish to spend (in Canadian Dollars for example) and will sell you the equivalent amount in crypto.

 

Get started with crypto with as little as $10.

A popular strategy that beginners take is called “dollar cost averaging” which is the idea of putting in a fixed amount of money over regular intervals (for example $50 every month). What this does is mitigate some of the risks (and reduces stress/anxiety) of investing in crypto.  

Remember, you don’t need thousands of dollars to get started with crypto. Getting started with Netcoins only takes a couple of minutes. If you ever need help creating an account, you can contact our customer support team at [email protected] – they have all the tools and knowledge to help you right away. 

 

Academy

More Beginner Lessons

 

Lesson 3

What is bitcoin? Why bitcoin?

Lesson 5

How are cryptocurrencies stored, sent and received?