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Key takeaways

• Bitcoin is divisible to eight decimal places, making it very flexible. The smallest amount of Bitcoin you can buy is 0.00000001 BTC. 
• To buy small amounts of Bitcoin, choose a trusted platform such as a crypto exchange or a peer-to-peer marketplace (like Paxful). Create an account, complete any required identity verification, and link a payment method such as a bank card, mobile wallet, or gift card. Then, enter the desired amount; many platforms allow purchases starting from as little as $10.

💡More tips on how to buy and sell Bitcoin: Smart Tips for Buying and Selling Bitcoin

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Choosing a platform

Before buying or selling cryptocurrency, choose a platform that best suits your trading style. There are two types of platforms where you can trade digital currencies: traditional exchanges and peer-to-peer (P2P) marketplaces. 

Traditional exchanges vs. P2P platforms

Traditional Bitcoin exchanges have been around much longer, with the first popping up in 2010. These centralized platforms match buyers and sellers using an order book or an electronic list of offers. Once matched, these exchanges will facilitate the safe transfer of your crypto or fiat into BTC and vice versa. So in a way, they act like a middleman, helping you get through the trade. 

P2P marketplaces, on the other hand, don’t operate as a third party. Although they also use order books to match them, the difference is that they let the buyers and traders transact directly and only intervene in the case of a dispute. P2P platforms often use escrow services and additional security measures to keep the traders safe. 

Since traditional BTC exchanges act as middlemen in the trade, buying Bitcoin on those platforms can be more expensive than on P2P platforms. Some platforms can even charge up to a 6% fee on each purchase. 

On the other hand, fees on P2P platforms will vary per vendor, payment method, and platform. Paxful, for example, does not charge buyers any fees. Instead, sellers are charged a small fee.

Another thing to look out for is the minimum purchase amount. Some traditional exchanges will set 100 USD as the smallest amount you can buy. Alternatively, P2P platforms like Paxful have a lower minimum, allowing you to start with as little as 10 USD with over 500 payment options. 

 👉Learn more: What’s the Difference Between P2P Marketplace and Centralized Crypto Exchanges?

Buying small amounts of BTC on Paxful

Looking to start small? We can help with that. To buy a small amount of BTC on Paxful, you can follow these three simple steps: 

Step 1: Create an account and find an offer

You’ll first need to create an account and then look for an offer that suits your needs.

Next, search for the right offer.

Once you’re in, head to the “Buy Bitcoin” section and plug in your preferences:

• Decide how much you want to spend. It could be $10 or $25, etc. The minimum amount for buying BTC on Paxful is 10 USD.
• Payment method: A bank transfer, PayPal, mobile money, or gift card.
• Currency: Select the currency you’ll use (USD, EUR, KES, etc.).
• Other options to select are offer location, trader location, verified offers, or recently active traders.

You’ll then be shown a list of offers tailored to your needs. Carefully analyze each detail to choose the best one for you. Here are a few things to look out for:

• How much you’re getting on the dollar refers to the seller’s profit percentage. The closer this amount is to the full dollar, the better. 
• Offer terms – This is a summary of the seller’s requirements. Make sure to choose an offer with terms you can comply with. 
• Seller feedback score – This will indicate how reliable your potential trade partner is. The more positive feedback the user has, the more trustworthy they are. If you want more insight about the user, you can also head to their profile and check their trade volume and history.
• Seller availability—Make sure that you choose an offer from a recently active seller. Selecting an inactive one could lead to an expired trade later on.

Step 2: Start the trade

Once you see an offer you like, click on the Buy button. Before starting the trade, quickly review the offer terms, input how much BTC you want to buy, and then click Buy Now to start the trade. 

After sending in the requirements, mark the trade as Paid and wait for the seller to verify your payment. 

Step 3: Receive BTC and leave feedback

Once the seller verifies your payment, Paxful will release Bitcoins to your wallet. Congratulations—you’ve just purchased BTC! All you need to do is leave feedback for your seller and be on your way. 

💡Leave honest feedback. It helps keep the platform safe and transparent for everyone.

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Important note: These materials are for general informational purposes only and do not constitute financial, investment, or professional advice. Cryptocurrency investments involve significant risks, including potential substantial financial loss, and we do not endorse specific investments, tokens, or projects. Always conduct your own research and consult qualified financial or legal professionals before investing, as Paxful disclaims liability for any losses arising from reliance on these materials to the fullest extent permitted by law.