COINMARKETCAP’s IOTA cryptocurrency is in 11th place, and its capitalization level is 1523 billion US dollars. Today, the coin is a stunning success among users, but buying it is not easy. Therefore, in this article we will consider all available methods of buying crypto.
Ways to buy IOTA
You can buy IOTA cryptocurrency:
- Through exchangers, incurring minimum commission costs.
- Crypto-exchanges – winning on the course and with the possibility of earning on its fluctuations.
- OTC market, through an intermediary. This operation is based on trust and carries great risks.
On the Internet there are a small part of exchangers working with IOTA. If the user has a Mastercard or Visa dollar card, then he can quickly make a purchase in the exchangers: Smart-Pays and IndaCoin. Here, for $ 1, 1475 IOTA coins can be purchased, and 1 token can be bought for 67.8 cents.
If you compare this exchange rate crypto exchange with exchanges, then Bitfinex offers to buy 1 IOTA coin for 0.582 US dollars. Therefore, exchangers inflate the cost by 16% or more, which is a significant drawback of this method of purchase. However, the advantage lies in the convenience and speed of the operation. If the user wants to make a major transaction, then he is better off using crypto-exchanges.
Difficulties when buying currency through an exchanger arise if fiat funds are on electronic wallets. In this case, the user will have to convert the currency twice, paying an additional commission. For example, if you buy IOTA from a Qiwi wallet, then initially you need to convert the currency to bitcoins.
The most favorable rate for this method of purchase is to purchase 1 IOTA coin for 0.701 US dollars.
Today, there are 20 crypto exchanges on the Internet where IOTA can be purchased. Most often, users buy crypto on OKEx, Binance and Bitfinex. The coin is sold paired with Tether, Ethereum and Bitcoin. On the Bitfinex cryptocurrency exchange, for the convenience of users, support for the Japanese yen, US dollar and British pounds is provided. To buy crypto on the exchange, you need to go through an algorithm, an example of which we will consider on the Binance crypto-exchanges:
- After registering and authorizing for Binance, you need to go to the Exchange menu section and select the Advanced or Basic terminal.
- We select a pair of the most suitable crypto: IOTA + Bitcoin, IOTA + Ethereum, IOTA + BNB, IOTA + Tether. To do this, you need to specify IOTA in the window, and in the second window a pair will be automatically selected for it.
- A filled application for the purchase of crypto is included in the general list. After the appearance of the counter application at the same cost, a deal is concluded. Usually on cryptocurrency exchanges with good liquidity, applications are processed quite quickly. But on exchanges with low turnover, a transaction can be delayed for several hours or more, since counter orders do not fall.
Also, a crypt can be bought on an undelivered order. To do this, go to the Limit menu section and indicate the cost, volume of the transaction. You can also apply a Stop-Limit order, which is activated after reaching the desired value, but it is not used for direct purchases, therefore it is suitable for traders.
On special forums there are proposals for the sale, purchase of IOTA. This option to purchase currency is convenient due to the lack of mandatory registration, as is the case with cryptocurrency exchanges. If you search well, you can buy coins at a very good price, lower than in many exchangers.
The disadvantages of this method include the high risk of fraud, since the transaction is solely on trust. The buyer transfers the funds to the specified wallet of the seller, and after the receipt of funds transfers the cryptocurrency to the specified account.
Today, the best way to purchase IOTA is to buy it on a cryptocurrency exchange, as the user receives a wide selection of offers and has the right to choose the most profitable course for himself. Exchangers greatly lose to exchanges due to established commissions, which, when making a transaction, can reach 8%. But using the WELLCOINEX service, users will not only save on commissions, but without risk will conduct a transaction at a favorable rate.
A feature of cryptocurrency is its block-free system with full coin decentralization. For example, if you need to send a request to Bitcoin miners to confirm the transaction, then IOTA does not need to do this, it is enough that the operation is confirmed by both parties. The process itself takes only a few minutes.
The IOTA network does not provide for the payment of commissions to miners, which allows to reduce costs during the transaction.
The blockchain system has a big minus – network congestion, in IOTA, which is included in the Tangle technology, this problem is absent. Also, unlike other types of cryptocurrencies, IOTA coins do not set a limit on the amount of the transaction and on transactions made.
Is it worth investing in IOTA?
Experts predict that IOTA is an attractive tool for long-term investments. Cryptocurrency has the prerequisites for a leadership position in the market. Reaching the $ 100 mark for one coin is real, it all depends on the demand and development of the Tangle technology, which will allow you to make transactions in automatic mode, as well as expand the ways of buying it.
The peculiarity of the currency is that it lies at the basis of the Tangle technology, which, unlike the blockchain, performs all processes in automatic mode, accelerating the transaction process. Tangle is able to process a large flow of information without slowing down the network.
Today, IOTA lies in the long term, as the network is not yet sufficiently developed for its normal functioning. The currency is expected to take off from 2019 or 2020, and it will take more than five years to peak in popularity.
It is clear that whoever invests in IOTA today will receive big profits in the future, but so far the currency is at the development stage and requires investments.