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Easy ways to buy Bitcoin with spare change

While cryptocurrency allows for small-scale investments and provides a convenient way to venture into the world of digital currency, it is still extremely volatile.

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a wallet with a bitcoin inside

Some investors like to stout their crypto portfolios small by investing whatever loose change they have on them. However, purchasing crypto can be pricey due to transaction fees especially when you do not buy in a bulk amount.

Hence, there are new features on crypto platforms and easy to access phone apps that let users purchase cryptocurrency using spare change. On that note, if you're trying to grow your crypto portfolio, here are four ways to buy bitcoin with spare change.

Micro Investment Platforms

a smartphone on the table showing a cryptocurrency

Transactional fees and minimum deposits often serve as barriers preventing new investors from purchasing bitcoin. However, these barriers are broken with the help of micro-investing.

Micro-investing simply means the act of investing small amounts of money. A micro-investing platform is an app or tool that enables users to save or invest small amounts of money over time and easily keep track of their investments on their smartphones.

These apps and tools help you invest in digital currency by depositing small amounts of money continuously until your purchase is complete.

Before you get started micro-investing, you need to do some research to find the best micro-investment platform for you. Keep an eye out for fees and the history of the platform while sorting through your options.

After you find the right micro-investment platform, register and follow the prompts to create your account, link to your bank account and get started investing.

The Volatility Of Crypto

While cryptocurrency allows for small-scale investments and provides a convenient way to venture into the world of digital currency, it is still extremely volatile. This is because its value is influenced by the demand and supply of the market amongst several other factors that create price volatility.

While the average interest rate on a standard savings account is 3.3% per annum there are no limits to how much you can gain from your crypto investments with some investors getting returns of double their investments.

However, the crypto volatility that gives room to seemingly limitless returns also means that without you can lose your entire portfolio you need to consult your financial advisor before you get started with crypto. Also, make sure to carry out proper research and make use of tools like a ‘stop-loss’ to prevent huge losses.

P2P Trading Platforms

P2P stands for peer-to-peer, P2P trading platforms provide users with the option of buying and selling bitcoin directly with other individuals without the need for a middleman. These platforms act as an agent, holding your money safely until the transaction is complete.

Since the purchases are made directly between individuals they get to choose the requirements for the transaction making it a great way to buy crypto with your spare change.

Paxful and Localbitcoins are good examples of P2P trading platforms. With these platforms, bitcoin traders can find each other, negotiate on a price, and carry out bitcoin transactions inclusive of spare change.

Round-Up Apps

If you find it hard to set some money aside to buy bitcoin a round-up app may be the answer to your problems. A round-up app is an investment tool in apps that is formulated to round up each of your credit and debit card purchases to the nearest dollar and tallies the total difference.

Following this, this difference is automatically invested into a cryptocurrency of your choice. For instance, if you were to get a cup of coffee at $3.90 the app will round up the estimated difference of $0.10 and use this to invest in bitcoin or Ethereum.

This also serves as a great tool for those simply looking to automate their savings and crypto investments since the round-up app does all the work.

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