In this guide you’ll get information about where to buy IOTA, if you are planning to buy MIOTA – You’re in the right place!
IOTA as cryptocurrency is used to combine IOT with blockchain technology. With this blockchain, devices with IOT will be able to do transaction which will help to increase the development of IOT globally. The IOTA transaction could be done free and it can be done even when offline. It is first developed in 2011 and the company is officially launched in 2016. It uses Tangle as the technology on their IOT operation which can be used for free with P2P base.
Soon, everything in our life will be connected through the internet. And, IOTA (MIOTA) is a platform that will facilitate those changes. It uses a huge network to create a connection between machines, so it can support the smart concept where many aspects are integrated with an autonomous system.
- Official Site: https://www.iota.org/
- Twitter: https://twitter.com/iotatoken
- Reddit: https://www.reddit.com/r/Iota/
- Bitcointalk: https://bitcointalk.org/index.php?topic=1216479.0
- White Paper: https://www.iota.org/research/academic-papers
IOTA (MIOTA) Features
- Free transaction. IOTA transaction does not need any fee on the network which means users will get effective value from their token.
- Tangle. IOTA powerful technology that is used to do various IOT operation within the blockchain network which can be used for free.
- Efficient payment. The IOTA payment will only be done when transaction had been confirmed by the initiator which makes it more efficient and no fee needed.
- Secure. The confirmation from IOTA payment will be spread throughout the blockchain network for more secure transaction.
- Open source. IOTA using open source for the protocol on HTTP so developer can distribute and developed it to create better WWW.
- Data integrity. IOTA focus on data integrity layer to create smart technology.
Where to Buy, Sell and Trade IOTA aka MIOTA
You can basically use debit card, credit card, or even PayPal to buy the IOTA (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the IOTA as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to IOTA. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum or Bitcoin
- Find a crypto exchange that supports IOTA currency and exchange your Ethereum or Bitcoin with the IOTA
- Store your IOTA to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) at Coinbase
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
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- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying IOTA, once you get your Bitcoin or Ethereum, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH with IOTA:
- Deposit Methods: Cryptocurrency Only
- Fiat Currencies: N/A
- Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 565+ more
- Trading Pairs: 1118+
- Deposit Methods: Cryptocurrency, Express Polish Post Office 24/7, Wire transfer, GBP bank transfers
- Fiat Currencies: USD, EUR, PLN, GBP and 47+ More
- Supported Cryptocurrencies: BTC, ETH, XRP, BCH, TRX, LTC, DASH, XMR, XLM, OMG & 512+ more
- Trading Pairs: 1044+
IMPORTANT! Once you are registered to any of the above, find the BTC/MIOTA or ETH/MIOTA trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your IOTA (MIOTA) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy IOTA (MIOTA) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the IOTA. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy IOTA (MIOTA) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy IOTA (MIOTA) with Skrill?
You can’t buy MIOTA directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to IOTA. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy IOTA (MIOTA) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/MIOTA and begin the transactions.
Can I Buy IOTA (MIOTA) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/MIOTA trading pair.
What Is the Best Payment Method to Buy IOTA (MIOTA)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the IOTA right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect IOTA (MIOTA)?
Once you have purchased the IOTA, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell IOTA (MIOTA)?
Find a crypto exchange which allow pairing MIOTA with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine IOTA (MIOTA) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a IOTA is to buy it from a reliable exchange.
IOTA as cryptocurrency offer benefit to the users since there is no fee for the transaction as the payment will only be done when the transaction already been confirmed. Furthermore, with open source for the protocol, the development can be done by everyone which make it faster and better. This is why, people who want to get the benefits must try to learn how to buy IOTA as the data will become more secure since it is run using blockchain technology.