Tuesday, November 12, 2019

USD to BTC conversion for dummies, should you start with 1 usd to btc now?

The Takeaway:

The world of Bitcoin is vast when you are curious enough to explore it. From its comparison against other fiat currencies to its price in other countries to its value against other altcoins. An interested budding investor can find this world amusing, and who knows, they might end up investing some.

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Over the years, Bitcoins, popularity has touched the sky, and it’s going beyond the sky. The most common query people have after they study Bitcoin is how much BTC they’ll receive in exchange for a certain amount of any fiat currency.

When exchanges noticed this, various conversion calculators were launched that would convert the fiat currencies into BTC and vice-versa. These calculators save people from mathematical work as they calculate the exact amount the person will get depending on their investment.

Before you go ahead and search through the milestones, it is crucial to understand the market and how the trading world works. The best way to experience that is by investing a small amount like $1 to get an idea of how Bitcoin trading works and what the future looks like.

Milestone 1: 1 USD to BTC

Every dummy and serious investor who comes across Bitcoin heads over to Google, and the first thing they do is look for how many Bitcoins they would receive if they invest $1.

A search that begins with curiosity to know more about the differences in prices soon turns into a game as they continue with the search testing different values. These values go on like:

 

Milestone 2: 10 USD to BTC

As people notice the value difference, the amount they wish to invest continues to go up, and they move on to $20, $50, and so on till the breakthrough point of $100 comes.

Milestone 3: 100 USD to BTC

Investing $100 sounds great as it would increase the number of Bitcoins they will receive in return. Any budding investor would try to spend at least $100 to consider it as an investment.

Milestone 4: 200 USD to BTC

What’s better than investing $100 in Bitcoins? $200. This is the next milestone that a budding investor aims for as they dig deeper and understand the market.

Milestone 5: 500 USD to BTC

This is the place where you know that now the curious investor has turned into a possible investor as they are willing to take bigger risks to try their luck at earning more.

 

0.01 BTC to USD

The next step in this conversion quest is reverse conversion, i.e., BTC to USD. This can be considered as a confirmation check to make sure if the value stays the same.

0.001 BTC to USD

The conversion from BTC to USD helps in understanding that the amount that looked less in USD to BTC conversion is actually of good value.

0.02 BTC to USD

As things start to gain some momentum, the quantity of BTC starts increasing, and it keeps going up. 0.05 BTC to USD, 0.2 BTC to USD, 0.3 BTC to USD, and so on till we reach the reality check- 1 BTC to USD.

1 BTC to USD

This is the point where you assume you own a whole Bitcoin. The price displaying on the screen gives hope, but as a budding investor, you should keep in mind the volatility of Bitcoin and the risk that 1 BTC comes with.

 

Visiting countries with BTC

The next moment is moving out of USD and paying a visit to different parts of the world through your devices. People wish to test the value of Bitcoins against other countries as well to see how dominating the USD is as compared to other currencies.

1 BTC to INR

Even though Bitcoin is facing a ban in India, you can still compare the value it holds against the Indian Rupee with the conversion.

1 BTC to GBP

This world tour with Bitcoin continues as the value of Bitcoin in other parts of the world helps you in understanding how the cryptocurrency is performing.

1 BTC to AUD

Australia is amongst those countries that have widely adopted the usage of Bitcoin and other cryptocurrencies. This shows the value it holds against the Australian Dollar. From here, the conversion moves to Japan, Mexico, and other parts of the world.

From here, you can compare the value of Bitcoin against other altcoins as well, such as Cardano, Ethereum, Litecoin, Bitcoin Cash, and this will give you an idea of the market dominance of Bitcoin.

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Thomas Gonzales
Thomas Gonzales
Thomas is a Stanford University graduate who loves to talk about the financial world. Though he has a demonstrated history of working in the real estate industry but ever since he came into the crypto space, he has developed a keen interest in researching and writing about bitcoin and blockchain.

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