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Written by Ed Canty, CFP® on January 24, 2021
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How To Buy $100 Worth Of Bitcoin 2021

Investors have been buying bitcoin for over a decade, but it has never been the easiest thing to do for the average investor. Bitcoin is a digital cryptocurrency that uses blockchain technology to transact payments. Bitcoin is mostly considered a speculative investment and has historically been extremely volatile.

In this article, we are going to explain how you can go about buying $100 worth of Bitcoin. This is not a recommendation to purchase Bitcoin as an investment.

How to Purchase Bitcoin?

There are a variety of ways you can purchase Bitcoin, most use digital exchanges similar to a brokerage for trading stocks. One of the most common crypto exchanges used today is Coinbase. The Coinbase platform provides a dashboard where you can buy and sell Bitcoin and other cryptocurrencies.

Using Coinbase to Purchase $100 in Bitcoin

If you decide to use Coinbase to purchase Bitcoin then you will need to create an account here.

Once you input your personal information and set up your security questions you will be directed to set up your funding method.

There are a variety of funding methods Coinbase accepts, such as

  • ACH Funding (4-5 business days)
  • Debit Card (instant)
  • Wire Transfer (1-3 business days)
  • Paypal (instant)

Coinbase does not accept physical checks to purchase cryptocurrency.

Placing a Buy Trade For Bitcoin

When your Coinbase account is established and funded you will then be eligible to purchase Bitcoin and other cryptocurrencies.

  1. Sign in to Coinbase and hit Buy/Sell located on the top right of the dashboard.
  2. In the Buy field enter the amount of Bitcoin you would like to purchase in dollars. If you would like to purchase $100 worth, then you insert $100 and select the Bitcoin cryptocurrency.
  3. You will then select your payment method and click preview buy to confirm.
  4. Finally, you will select Buy to finalize your purchase.

Earn $5 In Free Bitcoin

If you sign up for Coinbase you will also be eligible to receive $5 in free Bitcoin. All you need to do is set up your Coinbase account and you will be eligible for the free $5 in Bitcoin. See the Coinbase Terms for this promotion.

Setting Up Recurring Purchases For Bitcoin

Using the Coinbase platform you can also set up recurring purchases of Bitcoin. In the transaction tab create a purchase ticket and select "one-time purchase" and select the frequency you'd like to set up your recurring purchase.

You can choose to repeat your Bitcoin purchase:

  • Every day
  • Every week
  • 1st and 15th of the month
  • Every month

How Much Money Do You Need to Invest in Bitcoin?

Coinbase requires a minimum order of $2/€2 or more to buy Bitcoin or other cryptocurrencies.

Other exchanges may have different transaction minimums, so keep in mind which exchange you decide to use. As Bitcoin is a largely speculative investment, then it's important to consider the risks associated with this purchase.

Although Bitcoin is currently trading over $30,000 for a single Bitcoin, you can purchase fractional shares in smaller denominations. So using Coinbase for example, you can purchase $100 or even less in Bitcoin. This way the average Joe investor can purchase small amounts of Bitcoin as well.

This is not a recommendation to purchase bitcoin, and just like any investment remember to do your due diligence before committing capital.

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Article written by Ed Canty, CFP®
Ed is a CERTIFIED FINANCIAL PLANNER™. At his day job, Ed helps clients plan for retirement, manage their investments, and navigate their tax situation. In his free time, Ed enjoys golfing, traveling, fishing, and wrenching on his old car.

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