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Author Topic: Minimum limit for buying BTC  (Read 7010 times)
Jezze
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November 19, 2015, 08:58:36 PM
 #1

Do you ppl have some kinda minimum limit for buying bitcoins? I mean for currency.
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November 19, 2015, 09:29:17 PM
 #2

Well, you can "buy" a few satoshi from a faucet Grin

Well I guess the minimum in my country is one cent of vision, as that's the lowest possible denomination of the Australian dollar. Since that is also the minimum that can be transacted, I guess that's the minimum amount of bitcoin you can buy.

Maybe in another country you can buy a few satoshi, due to the low denominations. But none will want to sell a few satoshi xD
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November 19, 2015, 10:43:32 PM
 #3

The exchanges can have limits for low orders, but if they didn't have it you can't spend less than 1 cent 0.01 of fiat money.
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November 19, 2015, 10:47:14 PM
 #4

Hmm, not that i am aware of. The only limit should be the transaction fee to sustain the network.

Or in most cases the limit an exchange uses to buy or sell bitcoin.

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November 20, 2015, 05:32:00 AM
 #5

There's isn't such a thing as limit when you buy from another person, in person so no worries there as long as it's more than the transaction fee which is so little that couldn't be called a limit but on the other hand like what Raimonn said, there are some limit if you use an exchange to buy BTCitcoins

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November 20, 2015, 06:23:54 AM
 #6

There is no such limit if you buy in person from someone, You can buy even few satoshi's. Few Exchanges have a minimum limit and few transactions have a fixed fee, In that case buying like 0.1 BTC will do.

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November 20, 2015, 08:11:39 AM
 #7

if you mean the limit on exchange, there are none unless you have not verify your identity

if you mean what we can afford to lose, then i think basically everyone should have a limit

at theccurent rate 0.5-1 btc at max, per month would suffice
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November 20, 2015, 03:10:46 PM
 #8

I never heard of anyone having a limit on buying bitcoins

I think that as long as they make some profits on it they can buy as many bitcoins as they want

As in investing/selling/trading/buying
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November 20, 2015, 03:28:42 PM
 #9

Depends on where and how you buy. I usually buy on the Dutch website Bitonic where one can buy Bitcoin with fiat directly from a bank account, minimum there is 2,50 euro worth of Bitcoin. But yeah, in many cases the 'bottom' is indeed 1 satoshi.
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November 20, 2015, 03:31:40 PM
 #10

As bitcoin we can even send 1 satoshi payment so when price will be in moon we can buy minimum 1 satoshi but in fiat it depends on currency like 1 cent for USD.

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November 20, 2015, 03:43:47 PM
 #11

Do you ppl have some kinda minimum limit for buying bitcoins? I mean for currency.

If I understood you right , you want to know if we have some limits that we shouldn't pass while buying bitcoin ?
I personally don't buy them and all of them are profit from different things (services , sig campaigns , etc ...) so I'd say Ihave no limit , the more the better because if Bitcoin become used by more and more people over the years , it will worth more and owning at least 1 BTC at that time will be more then good .

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November 20, 2015, 03:46:28 PM
 #12

if you buy in the exchanger/trade are usually minimal to buy around 0.01BTC, but if you buy from your friend probably minimal around 0.001BTC Smiley

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November 20, 2015, 05:37:05 PM
 #13

Well, you can "buy" a few satoshi from a faucet Grin

Well I guess the minimum in my country is one cent of vision, as that's the lowest possible denomination of the Australian dollar. Since that is also the minimum that can be transacted, I guess that's the minimum amount of bitcoin you can buy.

Maybe in another country you can buy a few satoshi, due to the low denominations. But none will want to sell a few satoshi xD
But you can make that trade happen in exchanges. I bet you could even buy a single satoshi if you're that cheap.

The minimum limit for buying bitcoin is the one you set for yourself.


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November 20, 2015, 06:09:57 PM
 #14

it kinda depends on the exchange. but the lowest amount of bitcoins i have bought is 0.001btc. and i bought it without problems on btc-e.
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November 20, 2015, 07:08:35 PM
 #15

Every exchange should have a TOS (terms of service) where they clarify the minimum transaction order. I am not sure there is a website where you can compare it, but 0.01 seems to be a logical amount to exchange.
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November 20, 2015, 07:14:41 PM
 #16

Of course in person no limit exists. If you are buying from the exchanges, some limit has to exist. If you want to buy to low of amount, you need to think of the wiring money costs, credit card costs, etc.

Also exchange operating costs are important. Exchanges don't want that you waste their resources with low orders. Of course, these low orders will be very rare.
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November 20, 2015, 09:12:07 PM
 #17

Don't forget every exchange has a withdrawal fee. For kraken f.e. it is 0.005 BTC (yeah a lot) so it means you have to buy min. 0.005.

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November 20, 2015, 09:56:13 PM
 #18

That's correct, so the minimum limit depends on

1 transaction fee of the exchange (normally around 0.2 %)
2 withdrawal fee
3 network fee
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November 21, 2015, 08:07:05 AM
 #19

Do you ppl have some kinda minimum limit for buying bitcoins? I mean for currency.

It depends on the exchange there is a practical limit when purchasing Bitcoins, buying a $1 but paying a $5 dollar fee to get that dollar isn't very economical.
Some exchanges do have stated minimum deposits depending on the method you use.
Example Direct Withdrawals, In Person Bill Payments, Online through services like Quickbt, Wire transfer etc.

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November 22, 2015, 01:26:18 AM
 #20

I usually buy %10 of my monthly wage but sometimes more. I'd never measure the minimum though. Even I have 1$ I can buy BTC.

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