Although it's one of the most valuable cryptocurrencies by market cap, there are only a few exchanges from which you can purchase IOTA right now. With that in view, I'll explain to you the most popular options available right now and walk you through the process of buying IOTA tokens.
The IOTA Foundation, founded on November 3, 2017, by Dominik Schiener and David Snsteb in Germany as a formal, non-profit corporation, is the non-profit, open-source company behind its IOTA distributed ledger technology (DLT) and other associated systems.
IOTA had a crowd sale to assist fund its development towards the end of 2015, earning a little over $500k in Digital currencies. The whole token supply was divided pro-rata to the crowd sale registrants on the genesis transaction, and it will never increase.
What is IOTA?
The IOTA Foundation created IOTA, a distributed ledger technology (DLT). IOTA bills itself as the "first open-source distributed ledger created to power the future of the Internet of Things with feeless virtual goods and machine data integrity."
Most cryptocurrencies employ a typical blockchain design. However, IOTA does not. Instead, it has created Tangle, a new system based on the mathematical idea of Directed Acyclic Graphs (DAG). Each node in a DAG Tangle must approve two previous transactions at other nodes for its own transaction to be acceptable.
This has two ramifications. First, it eliminates "miners" as entities for transaction validation, eliminating a potential bottleneck when transaction speed and volume are high. Second, the platform's growth and pace are dependent on the number of network users.
Who Are The Founders of IOTA?
Albert Hicks, Lonnie Spruill, Jr., Charles Briscoe, Frank Coakley, John Slade, Barron Willis, Webster Lewis, Charles Brown, Louis Hudnell, Charles Gregory, Elias Dorsey, Jr., and Michael Williams were the Honourable Pioneers of Iota Phi Theta.
For various reasons, this group of guys was unlike any other. First and foremost, many of the attendees were long-time pals. Spruill, Coakley, Dorsey, and Gregory had known each other since elementary school, and Spruill and Coakley had been pals since they were toddlers.
What Makes IOTA Unique?
Individuals and businesses can commercialize their data using the IOTA protocol. The IF created an independent and decentralized trade to do this. A person can install a sensor, collect environmental data such as temperature, air humidity, and pressure, and then feed the information straight into the market. Anyone can utilize the tangle because it is open, free, and feels.
The IOTA token allows organizations all across the world to access and pay for this data. You can utilize the tangle for free, and you don't have to use the token. It will soon be feasible to wrap Bitcoin in IOTA and exchange it without paying any fees.
Iota Phi Theta's willingness to make valuable changes to general society, focusing on the African-American community, will expand and strengthen as the organization grows and develops. Iota Phi Theta has become synonymous with brilliance in various fields across the United States.
Where Can You Buy IOTA?
First and foremost, you must understand your investment objectives.
What are your objectives?
We suggest purchasing IOTA tokens on a crypto exchange if you want to learn more about the technology underlying IOTA, set up your own wallet, and send transactions through the Tangle.
If you are interested in bitcoin price swings, a simpler option removes the need to cope with wallet security precautions.
There are presently only two platforms with substantial IOTA transaction activity, and neither accepts deposits in fiat money (USD, EUR, etc.). If you don't already have cryptocurrencies, you'll have to buy Bitcoin or Ethereum before you can buy IOTA.
Frequently Asked Questions
Can I Buy MIOTA With Cash?
The user must already own another coin, such as bitcoin or Ethereum, before purchasing MIOTA. IOTA may only be bought by trading it for another coin. Coinbase is a simple and trustworthy exchange for buying bitcoin or other cryptocurrencies for the first time. It will take initial fiat money (dollars, Euros, etc.) deposit by payment method or a direct bank account transaction. Many banks, on the other hand, no longer allow customers to buy cryptocurrencies with their bank cards.
Are There Any Quick Ways to Buy MIOTA in Europe?
If you merely want to invest in IOTA for speculation (and don't require access to the actual IOTA tokens), eToro is probably the easiest way to proceed. eToro is a cryptocurrency-specific trading platform. It enables you to purchase and sell IOTA for fiat (dollars, euros, and other currencies) via a variety of payment methods.
What’s the Cheapest Way to Buy MIOTA?
Binance is a brand-new cryptocurrency exchange. On July 3rd, 2017, the startup raised $15 million in under three minutes through an Initial Coin Offering (ICO). The exchange went operational on July 14th, less than two weeks later. While it's understandable to be wary of a new exchange, Binance has quickly grown in popularity, consistently placing among the top ten daily trade volumes of all currency transactions.
IOTA's overarching ambition is to change the Internet of Things by connecting micro-transactions altogether across all connected devices with zero fees. IOTA can have a good future ahead of it due to its frictionless method of exchanging money.
IOTA official website https://www.iota.org/
IOTA Twitter account https://twitter.com/iota
IOTA Tangle account https://thetangle.org/