Ok, so I searched a term for the keywords I wanted, but their are no adwords ads, so I used adwords price est. thing and typed in 0.02 but it says for first position would cost me about .08.... but their are no adwords ads for that keyword!???
The number of other ads/advertisers does not impact your min required bid. See: common misconception explained.
your keyword might have some competitors in other google searches like .ca .au .co.uk etc so try to limit your campaign by geographic locations