IOTA is a distributed ledger blockchain technology that is designed to execute and record transactions between devices and machines in the Internet of Things (IOT) network. MIOTA cryptocurrency accounts for transactions in the IoT ecosystem. The IOTA network’s primary innovation, Tangle, is more efficient and faster than typical blockchains (as claimed by IOTA).
127 Internet of Things (IoT) devices are connected to the World Wide Web (WWW) every second. Experts estimate a total of 35 billion IoT devices will be installed by the end of 2021 – the numbers are staggering. IOTA intends on being the primary mode of conducting transactions on these devices.
3 easy steps for buying IOTA coins
Here are 3 easy steps for buying IOTA coins.
1. Choose the best wallet for IOTA
Here are the best hardware, desktop and mobile wallets for IOTA (MIOTA) token storage.
It is quite surprising that Trezor does not offer support for IOTA coin storage. The best hardware wallets for IOTA are the Ledger Nano S and the Ledger Nano X. Both wallets support over 1,000 cryptocurrency tokens, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and of course, IOTA (MIOTA).
Both Ledger wallets are as secure as it gets. While the Ledger Nano X is a better cryptocurrency wallet than its counterpart, the Ledger Nano S is a cheaper and more practical option. The Ledger Nano S costs just $59 and is ideal to send/receive IOTA tokens. The Ledger Nano X on the other hand costs a whopping $119.
The best desktop wallet for IOTA is the Trinity Wallet (Windows, macOS and Linux). The wallet is available in the form of a mobile app as well. While the Trinity Wallet is not as secure as the Ledger Nano S and the Ledger Nano X, it does offer safe seed storage coupled with strong encryption.
The IOTA wallet offers live IOTA market data across a range of fiat currencies (USD, EUR, GBP, etc.), fast transactions, easy (multiple) account management and a user-friendly experience. What’s more, the cryptocurrency wallet is free of cost!
IOTA Trinity Wallet is available in the form of an Android app and an iOS app. You can download the Android app from Google Play Store and the iOS app from Apple App Store. Apart from the features stated already, the crypto app offers biometric login and the ability to transact on the go.
2. Purchase IOTA – where to buy IOTA coin?
Mentioned below are the best cryptocurrency exchanges to purchase IOTA coins.
You can trade Bitcoins, Ethereum tokens and Tether tokens for IOTA cryptocurrency on HitBTC. While there is no direct way to purchase Ethereum or Tether on HitBTC, you can buy Bitcoin with your credit card or debit card. You can purchase Ethereum or Tether on a platform like Binance and trade your tokens for IOTA on HitBTC.
There is no way for you to make a direct IOTA purchase on your Binance account. If you own digital currencies like Tether (USDT), Binance USD (BUSD), Binance Coin (BNB), Ethereum (ETH) or Bitcoin (BTC), you can trade your tokens for IOTA coins. If not, you will have to purchase one of these cryptocurrencies in order to buy IOTA.
You can purchase stablecoins like USDT and BUSD with USD via wire transfer. You can buy cryptocurrencies like BNB, BTC and ETH with your debit card or credit card. Once you purchase any one of these digital assets, you can trade your purchased tokens for IOTA tokens.
You can buy IOTA tokens with USD via payment methods like debit card, credit card and bank wire deposit at Bitfinex. The option to buy IOTA with USD makes the process of purchasing IOTA at the crypto exchange much easier.
Unfortunately, Coinbase does not support IOTA cryptocurrency trading at the moment.
Some other crypto trading platforms to buy and sell IOTA include eToro and Bittrex.
eToro is one of the best cryptocurrency exchanges to purchase IOTA tokens. You can purchase IOTA with USD via credit card, debit card, bank transfer, PayPal and Skrill. The only way for you to buy IOTA tokens at Bittrex is by trading Bitcoins. If you have Bitcoin tokens from before, well and good.
If not, you can purchase BTC tokens with USD or Euros. If you go ahead with a USD purchase, a wire transfer is the only payment option you can avail of. You can make use of payment methods like international wire transfer, SEPA credit transfer and card payment if you make a EUR purchase.
3. Transfer your IOTA tokens to a wallet
Once you have purchased IOTA tokens at a reputed cryptocurrency exchange, the final step is to transfer your tokens to a cryptocurrency wallet. Always double-check your IOTA wallet address and never share your PIN code/secret phrase with anyone.
How to buy IOTA with USD?
As mentioned before, you can buy IOTA cryptocurrency tokens with USD at Bitfinex and eToro. At Bitfinex, you can purchase IOTA cryptocurrency coins via card payment and bank wire deposit. At eToro, you can easily purchase IOTA tokens via card payment, bank transfer and web wallets like PayPal and Skrill.
How to buy IOTA with a credit card?
Buying IOTA tokens with a credit card is probably the easiest and most popular method of IOTA purchase. You can buy IOTA cryptocurrency tokens with a credit card at Bitfinex and eToro. If you are keen on using your credit card to purchase at Binance, you can buy Bitcoin, Ethereum or Binance Coin and trade your purchased cryptocurrency tokens for IOTA tokens.
The IOTA blockchain project has tremendous potential. The number of IoT connected devices is increasing by the day and MIOTA will only rise in its price ($0.300764 at the moment) and worldly value.
Choose a sturdy crypto wallet, purchase IOTA tokens and store your purchased tokens long-term – IOTA is one for the present and the future.