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Where to Buy IOTA (MIOTA) Coin – Beginner’s Guide

IOTA comes with lots of features and functionalities, aimed at making the Web3 journey easier. Our expert will share details on how to buy IOTA in minutes via an FCA-regulated platform - eToro.
Buy IOTA
Buy IOTA

IOTA is a tangle-based distributed ledger designed to make data interaction possible between Internet-of-Things. It is open, fee-less, and distributable. Due to those factors, it has gained popularity in the crypto ecosystem, especially among those looking for more substantial development in blockchain technology.

MIOTA is the governance token of IOTA. In 2021, MIOTA price rallied by almost 1000% within the first four months of its launch before retracing nearly 80%.

While it has suffered like other crypto assets due to the crypto winter, the crowd sentiment about IOTA remains bullish. Investors are asking where to buy IOTA and if it is a good investment in 2022. This guide provides all the answers in great detail, starting with how to buy IOTA in 2022.

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Contents [show]

    How to Buy IOTA – Quick Guide

    • Step 1: Open an eToro Account

    Visit the official eToro website and create your crypto account. It is a simple process requiring you to enter your user credentials and upload a government-issued ID as a KYC verification document.

    • ? Step 2: Deposit Funds

    Investors in the US and the UK must deposit at least $10 to their eToro accounts before buying IOTA. You have the option to deposit this amount using fiat methods such as debit or credit card, bank transfer, PayPal, Neteller, or Skrill.

    • ? Step 3: Search for IOTA Coin

    Enter “IOTA” in the search bar. A drop-down menu will pop up. Click on the “Trade” button beside IOTA.

    • ? Step 4: Buy IOTA Coin

    Deposit the amount you want to invest in IOTA. Verify the amount and click on the “Open Trade” button. eToro will transfer equivalent IOTA tokens to your account.

    Buy IOTA Now

    Your capital is at risk

    Where to Buy IOTA – Best Platforms Reviewed

    Due to the use-case IOTA represents and the generally bullish sentiment of the crowd even during the bear market, many crypto exchanges have listed MIOTA. In this section, we review the best platforms from where you can buy IOTA in 2022.

    1. eToro: Overall the Best Platform to Buy IOTA

    eToro added support for IOTA on 20th August 2021. Since then, it has become the primary platform to invest in this cryptocurrency.eToro exchange

    Launched in 2007, eToro has 70+ cryptocurrencies listed at the time of writing. The trading platform also offers staking opportunities on three crypto-assets: Cardano, Tron, and Ethereum.

    eToro is a social trading platform. That is, it takes a social media-like approach to trade, allowing traders to communicate and learn from each other.

    Due to this factor, there are two features eToro that differentiate it from others on the list: the Copy Trading and Copy Portfolio. With Copy Trading, first-time investors can follow the investment strategies of the successful traders on eToro. Copy Portfolio automates this process as eToro aligns your portfolio with the investor you follow.

    If you’re a successful investor on eToro, then users copying your portfolio allows you to earn a passive income. The Trading platform will incentivize you every time the one who has copied your portfolio buys the assets listed in that.

    is MIOTA worth buying

    eToro charges a single 1% (plus bid-ask spread) fee for selling or buying IOTA or other cryptocurrencies.

    The user interface of this crypto trading platform is simple to use. Newcomers will feel right at home on eToro as, in addition to providing a simple UI, eToro also has a feature called eToro academy. eToro academy curates a collection of simple-to-understand blogs to learn about various types of cryptocurrencies.

    eToro is regulated by multiple authorities such as CySEC, FCA, and ASIC. The regulations ensure that eToro performs as per the standards and follows strict security protocols. Speaking of security, eToro stores the crypto assets in tier 1 banks, and SSL encrypts the client information.

    Buy MIOTA on eToro

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    2. Binance: Buy IOTA at the Lowest Fees

    Binance is the world’s most popular cryptocurrency exchange. It has listed Binance Logoover 600 cryptocurrencies, has an average 24-hour trading volume of $76 billion, and has approximately 90 million users worldwide.

    Binance was one of the first trading platforms to list IOTA. It listed MIOTA on 30th September 2017.

    Those who want to prevent paying high fees during crypto trading can use Binance. Here, you can buy IOTA at 0.10% trading fees. If you wish to reduce the fee even more, you can invest in BNB, Binance coin.

    Buy IOTA on Binance

    However, that fee is for those swapping their crypto assets to buy IOTA. Investors using fiat methods such as credit or debit cards must pay a 3.5% trading fee. On the other hand, ACH deposits are free of charge.

    If you want to withdraw from your IOTA holdings at Binance, you must pay the withdrawal fee of 0.5 IOTA. Also, the minimum withdrawal amount that Binance has set for IOTA is 69 IOTA. At the time of writing, it is equivalent to $19.32.

    Along with trading, Binance also offers an NFT marketplace and Binance earn. The NFT marketplace allows users to use fiat currencies to buy Non-Fungible Tokens. With Binance Earn, users can earn passive income through three ways of saving, four types of staking, three types of yield farming, and dual investment.

    That being said, the user interface is complex, making Binance more suitable for seasoned crypto investors.

    Binance uses a Trust wallet to secure users’ assets. Since 31st January 2022, Binance has built a $ 1 billion insurance fund for investors due to the rising count of crypto hacks in the past.

    Buy IOTA on Binance

    Your capital is at risk

    3. Huobi Global: Exchange with Wide Varieties of Cryptos

    Huobi Global Listed IOTA in May 2018. Huobi LogoThe cryptocurrency exchange was founded in 2013 in Beijing. For a while, it was China’s biggest crypto platform. However, China’s ban on cryptocurrencies forced Huobi to relocate to Singapore.

    Huobi Global has listed over 500 cryptocurrencies that contain popular assets such as BTC and ETH and altcoins such as Ripple and Polkadot. At the time of writing, Huobi’s 24-hour trading volume has been $4.5 billion.

    The trading platform has a vast array of features such as a rewards hub, CandyDrop, PrimeEarn, and more. Besides trading, the platform also offers financial facilities such as Staking, Primepool, Crypto loans, ETH 2.0, and iToken.

    Staking allows investors to commit their crypto assets to earn up to 14.87% APY. With Primepool, you can lock your assets and earn up to 449.58% APY. ETH 2.0 Beacon Chain Genesis mining program where users can earn BETH. Crypto Loans is an instant loa facility, and iToken is a multi-chain wallet.

    Buy IOTA on Huobi

    Other new features are Dual investment and Huobi earn. Huobi Earn is a way to earn interest on the listed cryptocurrencies.

    Huobi has a simple UI, allowing newcomers as well as long-time investors to easily interact with the crypto ecosystem. First-time investors can also jump into Huobi’s blog section to learn about crypto assets in great detail. Huobi’s Dual Investment is in many ways similar to Binance’s dual investment where users can invest in coin/stablecoin pairs.

    The only drawback about this platform is that it is not available to US citizens. However, Americans can trade via HBUS. Huobi’s strategic US partner.

    Huobi charges an affordable 0.2% maker/taker fee per trade. If you want to lower the fee when you buy IOTA, you can do so by holding Huobi’s native HT token in your account. Your discount will depend on the amount of HT you hold.

    Recent hacking attempts have made Huobi more conscious about consumer security. It has recently set up a 20,000 BTC reserve as insurance for clients.

    Buy IOTA on Huobi

    Your capital is at risk

    What is IOTA?

    IOTA is a distributed ledger based on Tangle technology. It is a system of nodes that uses a DAG- Direct Acyclic Graph, which is not under the authority of a bank or any other financial institution. It was designed to power machine-to-machine communication in the Internet-of-Things economy.

    What makes IOTA unique is the fact that there are no “blocks” in this technology. As there are no blocks, there are no miners. And since there are no miners, there are no fees. If you send an IOTA transaction, you automatically validate two IOTA transactions in return. It nullifies the cost and deals with the scalability issue of the standard blockchain.

    Simply put, instead of relying on blocks, IOTA uses Tangle. It is a unique consensus mechanism that uses Directed Acyclic Graph (DAG). Unlike blockchain, where the new blocks are added to store the information of blocks that came before it, DAG adds nodes that get more complex with the addition of more nodes. It improves the security of the technology.

    should I BUY IOTA

    DAG also is one-directional and doesn’t move backward. IOTA’s transactional data and consensus is built into the system itself. Unlike Proof of Work, where miners are required to form a consensus, Tangle needs a user to confirm two transactions in return for their own transaction to be confirmed. It creates a decentralized peer-to-peer network.

    This is why IOTA is feeless. It will remain feeless regardless of how much bigger the network grows.

    Is IOTA a Good Investment?

    IOTA takes a different approach to the crypto ecosystem. Doing away with blocks enforced a fee-less environment where there are no miners and the transaction speeds are high. Investors are also saying that IOTA is the closest ecosystem in the crypto world to being fully decentralized.

    That being said, before you invest in IOTA, consider the following points.

    It has High Scalability

    Scalability is the biggest issue faced by standard blockchain technology. Adding more blocks slows down the ecosystem, resulting in high gas fees. It is not an issue with IOTA. It follows a DAG model where it is not the miners but nodes that confirm the transaction.

    Increased Transaction Speeds

    IOTA follows a system where the more nodes are added to the DAG architecture, the faster the transaction speeds become. The inbuilt consensus protocol removes the need for miners to reach a consensus.

    The requirement that each node must confirm two transactions in return for their own transactions to be confirmed incentivizes the node operators to strengthen the network. Also, the computing power that these node operators need to provide is extremely low. It makes the ecosystem more inclusive.

    As a result, the speed of the overall network increases.

    Fee-less Transactions

    Many believe the high transaction fee is the biggest factor holding back the crypto economy. IOTA’s novel approach to confirming transactions removes the need for blocks, which eliminates the need for miners, which in turn, removes the need for fees.

    Highly Secure

    IOTA’s DAG architecture grows increasingly complex as more nodes and transactions get added. It provides an additional layer of security to the ecosystem.

    Concerns About Technical Flaws

    Despite the ecosystem being mostly bullish about IOTA, there are some concerns regarding the technical flaws of the system. many say that the system is still Nascent and unproven.

    And while the network is inherently designed to be more secure, it did suffer a phishing attack in 2019 that led to the theft of $3.94 million. Hackers later hacked the protocol again, stealing $1.5 million worth of MIOTA. While the IOTA 2.0 upgrade is aimed at dealing with these issues, it is too soon to tell whether it will hold up.

    Partnership to Create Carbon Footprint Tracking technology

    IOTA’s novel approach to the crypto economy has earned it several partnerships. The most recent among them are Dell, BioE, and ClimateCheck.

    Dell conceptualized a project called Alvarium in 2019 that IOTA has been an active participant in since day 1. The project is to create a digital Measure, Reporting, and Verification Tool to track and verify data around climate change across the globe.

    IOTA Price

    At the time of writing, IOTA Price is $0.8, which is 3.39% more than 24 hours ago. The current trading volume of the token is $31 million. IOTA’s live market cap is $805.3 million, and its CoinMarketCap Ranking is #52.

    IOTA launched at $0.53 in August 2017. The price pumped by 1000% to $5.5 in December 2018. It then retraced to $0.98 in April 2018. A smaller pump happened once again, and the price increased to $2.5 in May 2018.

    IOTA price followed a downward trend afterwards. By the end of 2018, it started to accumulate around $0.2 to $0.5 until the beginning of 2021.

    IOTA Price Prediction

    The price then saw another massive uptick in February 2021 when it pumped by 500%, going from $0.55 to $2.53 over the next two months. The second surge of that year happened in August, with the price going from $0.99 to $1.99.

    However, the days of pumps were over once the token entered the year 2022. The crash of Terra proved disastrous for all the crypto economy and put Bitcoin into a freefall. Many cryptocurrencies were affected, and IOTA was no different.

    It resisted over $1.4 at the beginning of 2022. But the crypto crash and the general bear sentiment brought the IOTA price down to $0.29.

    However, the token hasn’t fallen since then. It has been accumulating between $0.26 to $0.35 since then.

    IOTA Price Prediction

    The current IOTA price is 200% higher than the Bear bottom it hit at the end of 2019. Based on the current scenario, here is our IOTA price prediction.

    IOTA presents a unique use case and refines the blockchain economy by dealing with the scalability issue. In the past, it has leveraged these factors to become one of the top 5 crypto assets during its 1000% bull run in 2018.

    If the token reaches those valuations again, it has the potential to recapture the price between $5 and $6 and surpass its all-time high.

    Additionally, IOTA is one of the few tokens that has hit accumulation at not-so-low levels after the second crypto crash of 2022. It is proof that bulls are behind this token. IOTA price has mostly been in the green for the last five days. In fact, it formed a bullish engulfing pattern on 19th July 2022 and has taken an upward trend since.

    IOTA has made several changes in the architecture since its inception. The recent Stardust upgrade is especially beneficial for NFT enthusiasts.

    The platform is now gearing up for IOTA 2.0 with its GoShimmer node.

    All the developments happening within IOTA’s ecosystem are signs that the developers are bullish about doing what they are set out to do. That is, creating an inclusive ecosystem that will increase crypto adoption. You can see from the Binance trading chart that the sentiment has been fairly bullish about IOTA for the past five days. While we don’t know how long it will hold up, better days will certainly arrive for this token if it continues to work on upgrades.

    Invest in IOTA

    Your capital is at risk

    Best Ways to Buy IOTA

    Here are the best payment options to buy IOTA-

    Buy MIOTA using a Debit/Credit Card

    As eToro charges 1% for buying crypto assets, we recommend that it is the best platform to buy IOTA.

    Buy MIOTA using PayPal

    If you don’t want to enter your bank credentials repeatedly, you can buy IOTA through PayPal. eToro provides this facility.

    Buy MIOTA Without ID

    Changelly is a platform from where you can swap your other crypto assets for IOTA.

    Best IOTA Wallet

    There are many wallets that support IOTA. The best one, by our recommendation, is the eToro Money Crypto wallet.

    Best IOTA Wallet

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    How to Buy IOTA – Full Tutorial

    Here is the full guide to investing in IOTA:

    Step 1: Create your Crypto account on eToro

    Go to the official eToro website and create an account. Enter your user credentials such as username, email, and password.

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    Step 2: Upload Your KYC Documents

    You can’t start to buy IOTA or any other crypto on eToro without providing your KYC details. Upload a government-issued ID to complete this process.

    Upload KYC Document

    Step 3: Deposit Funds

    If you are from US or UK, you must top up your eToro account with at least $10. You can use PayPal, debit/credit card, bank transfers, or Neteller to complete the process.

    Deposit Funds on eToro

    Step 4: Search for IOTA

    Enter IOTA in the search box. You will see MIOTA as the first option. Click on the trade button beside it.

    Search for IOTA

    Step 5: Buy IOTA

    Enter the amount you want to invest in IOTA and click on Open Trade to finalize your investment. IOTA tokens will be transferred to your eToro account.

    Buy IOTA

    Buy IOTA on eToro Now

    Your capital is at risk

    How to Sell IOTA?

    Selling IOTA has a similar process. Go to your account, select IOTA and click on the Trade button to sell it. Remember that selling IOTA is a taxable event depending on your country.

    Conclusion

    IOTA takes a different approach to the crypto ecosystem. It removes blocks and introduces a new concept that is more scalable, faster, and requires no gas fees. If these factors interest you, you can invest in IOTA using eToro Platform.

    It is a social trading website that will allow you to buy IOTA and invest in 70+ crypto assets while you interact or get inspired by other traders to buy IOTA at the right time to maximize your profits.

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    FAQs on Buying IOTA

    Is IOTA on Coinbase?

    No, Coinbase hasn't added support for IOTA yet.

    What are the advantages of IOTA?

    IOTA is a decentralized ledger based on the Tangle architecture. It is faster than traditional blockchain and has a fee-free structure. Because the participant nodes get more complex, it is inherently more secure than other crypto assets.

    Is IOTA listed on eToro?

    Yes, IOTA is listed on eToro. The social trading platform added support for IOTA on 20th August 2021.

    How high can IOTA go?

    If IOTA does what it is set out to do, it can gain more traction and revisit its all-time highs between $5 and $6.

    Is IOTA on Binance?

    IOTA is listed on Binance. The world’s biggest cryptocurrency exchange listed IOTA in 2017.

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    Can This New Token Presale 100x?

    Can This New Token Presale 100x?

    Can This New Token Presale 100x?

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