Buy IOTA or MIOTA crypto currency explained by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about how to Buy IOTA or MIOTA cryptocurrency.
How To Buy IOTA or MIOTA Cryptocurrency?
IOTA (MIOTA) is an open source distributed cryptocurrency whose main purpose is to provide secure communications and payments between machines on the Internet of Things (home appliances, machines and devices that are connected to the internet and can send and receive data). IOTA was launched in 2015 and its main advantages are that the transactions are free, no matter the size and are almost instant, unlike those of Bitcoin, for example.
If you want to buy IOTA, this is what you can do:
1. Buy IOTA for another cryptocurrency. This is a bit more complicated than buying directly with fiat currency, but there are not many exchanges who offer it, so you might need to get Bitcoin or Ether first. The best option in most cases is Coinbase, a major exchange that works in a lot of countries. Besides it has a New York license and the fees for buying with credit cards are just 4%. On top of that Coinbase offers a special bonus of $10 worth of Bitcoin when you buy $100 worth.
2. Once you get your Bitcoin or Ether, you should open an account with an exchange that offers IOTA. Unfortunately, there are not many exchanges who offer trading in this altcoin. Among them are Bitfinex (you can also buy it with USD there, but the exchange does not accept US clients), Binance, OKEx, Gate.Io, CoinFalcon and Exrates.
3. Transfer your Bitocin or Ether to the exchange of your choice to buy IOTA. Most exchanges do not charge a transfer fee for deposits in cryptocurrencies. It is worth noting that the IOTA developers are offering a 50% discount on your trading fees for 1 month if you sign up using an affiliate link provided on the IOTA site.
4. Buy IOTA on the exchange of your choice.
You can also buy IOTA with fiat currency. There are just a few exchanges that offer the option to buy IOTA for a fiat currency and most of them have some restrictions and requirements. Bitfinex, for example, does not accept US clients. Otherwise, you can buy IOTA for USD or EUR. You can also trade on leverage of 1:3.3. Another option is to buy IOTA for KRW on the Coinone exchange, but this is available only to residents of South Korea with a local bank account. Leveraged trading is also possible on Coinone. You can also buy IOTA with fiat on Exrates, which offers quite competitive fees and numerous fiat currency options, as well as a nice trading platform and a mobile app.
If you don’t need the IOTA itself, bur would rather speculate on its price, you could open an account with a regulated forex broker that offers CFDs on IOTA. Dealing with such a broker is generally safer than with an unregulated exchange (as most are), but, unfortunately, we could not find a regulated broker that offers such instruments at this point.
If you want to store your IOTA securely in your own wallet, there are a few wallets. First off, IOTA offers several wallets (nodes) in its own ledger, but they seem a rather complicated affair for the general users, much to their chagrin. There are also a few external apps, like IOTA Wallet, which has mobile versions as well and is free to use. Or you can store it in the wallet of Binance, as promoted on the IOTA site, but we generally advise against storing funds in exchange wallets, as exchanges often are attacked by hackers.
To buy the coin you can sign up with a cryptocurrency broker, you can use Plus500, XM, eToro, Fxpro or AvaTrade crypto currency brokers.
How to buy Buy IOTA or MIOTA Cryptocurrency Conclusion
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