How to buy IOTA?
IOTA (MIOTA) is short for Internet of Things (IoT) Application; as the name implies, it aims to connect as many devices as possible within a single ecosystem, powered by the MIOTA token. Its main task is to enable fast, feeless transactions between devices within the network, which will facilitate data and computing resources sharing, along with the immutable history of each participant. In its most advanced stage, IOTA wants to provide the payment settlement and data integrity layer for various IoT applications that can go as far as whole smart cities.
IOTA’s main difference from other projects in the crypto sphere is that it does not rely on a blockchain: instead, they created their own distributed ledger technology called the Tangle. Tangle removes the need for miners and data-heavy blocks, addressing the issues of transaction fees and scalability that are blockchain’s pervasive pain points. IOTA also wants to function as the foundation for a future machine-based economy with a focus on micropayments, which is why their lack of fees is especially important, as there is no way that participants would have to pay fees higher than the value of the transaction itself.
Buying IOTA (MIOTA) in 2021: Here’s How to Get Started
IOTA’s well-developed use case means its native token, MIOTA, is highly sought after. Luckily, in 2021, finding an exchange where you can trade the asset is not very difficult; on the other hand, choosing among them is not a walk in the park, either. This is why we have assembled a list of five cryptoasset platforms that offer MIOTA trading pairs. Each of them has its own strengths, meaning no matter what type of trader you are, you are likely to find a good fit for you on our list. Keep in mind that, while MIOTA is the name of the IOTA native token, many exchanges use the two interchangeably—it’s the same coin, so there’s no need to worry.
Binance. As the largest cryptocurrency exchange by 24-hour trading volume, it may not come as a surprise that Binance also boasts the most liquid MIOTA trading pairs in the market. You can trade MIOTA with USDT, BTC, BUSD, BNB, ETH, but also buy it with any of the many fiat options offered on the platform, all with competitively low fees. Geographical restrictions are few and far between: you are very likely to be able to access this exchange. The combination of their ease of use and their innovative approach means that traders of all experience levels can feel right at home here.
Bitfinex. Bitfinex, on the other hand, is not very accessible to crypto trading novices: the platform is almost exclusively geared towards veteran traders who can take advantage of all the features it offers. Part of this is also the fact that its account verification times are very long, even for highly regulated standards. But if this is your choice, here you can trade MIOTA against BTC and ETH, as well as fiat pairs like GBP, EUR, USD, and JPY. Trading fees on Bitfinex are low and get lower the higher your monthly trading volume gets.
Gate.io. This exchange is a sort of middle ground between complete newcomer accessibility and a fully professional service. A drawback for beginners is that it does not take any fiat deposits, which means you will need to own crypto before embarking on a Gate.io trading journey. On the other hand, the exchange is not regulated either—this is an advantage for those looking to keep their identities private, but can be a source of worry for high profile traders. Still, with its low trades, it’s a very good trading place for MIOTA: to buy the token, you will need to have either ETH or BTC.
HitBTC. HitBTC is another exchange slightly better suited for those with at least some trading experience. With a very wide spread of altcoins and no forced KYC, along with very low fees, it is a great choice for traders who do not mind the lack of instructions and accessibility options. If you want to get IOTA’s native token here, you will need either BTC, ETH, or USDT to get started.
Bittrex. Bittrex has an excellent spread of available currencies with low fees, but its trading interface is not always the most intuitive. However, with at least some basic trading knowhow, this should not present an issue. It is also one of the safest exchanges in existence, having been founded by former security engineers. You will have to pass their KYC verification, though. You can trade the IOTA token with USDT and BTC, but also with USD if you prefer fiat methods, which can be topped up directly from your bank account (or even credit and debit cards!)
As our list proves, adding the IOTA token to your portfolio is easier than ever with robust, reliable exchanges offering the asset. If you haven’t found what you’re looking for, or you believe we excluded an exchange that should have been on our list, let us know!
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