How & where to buy IOTA coin online
Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >
On this page, you’ll find a step-by-step guide on how to buy IOTA. We also cover the history of the IOTA platform, whether or not now is a good time to buy MIOTA tokens, and what the future is likely to hold for this cryptocurrency project. Read on to get started.
What are the best exchanges to buy MIOTA on?
The best places to buy IOTA tokens online are listed below for your convenience. To check one of them out, simply click on the relevant link below and sign up. Otherwise, if you aren’t ready to put your money to work just yet, keep reading to learn more about IOTA and its investment credentials.
How to buy IOTA online – a step-by-step guide
Step 1. Find an exchange
The quickest and easiest way to purchase MIOTA tokens is through a cryptocurrency exchange. These increasingly popular platforms allow you to purchase a wide variety of cryptocurrencies, and you can store your coins in your account for ease of access.
To help point you in the right direction, we have listed two of the best platforms for investing in altcoins like MIOTA below. Check them out and see which one works best for you:
- Binance: Binance is the largest cryptocurrency exchange around. It offers a wide variety of DeFi assets and has a favourable fee strucutre, making it a good choice for beginners and experts alike. Join Binance now >
- KuCoin: KuCoin has the guides and tutorials you need to enhance your investing abilities. In addition, the platform has an easy-to-use interface that sets it apart from the crowd. Sign up to KuCoin >
Step 2. Sign up and fund your account
Before you purchase any IOTA tokens, you need to make sure your account is set up and funded correctly. To validate your account, enter the required contact details and provide a copy of your photo ID if it is required.
When it comes to funding your account, most exchanges now accept fiat currency via a bank transfer. However, if this isn’t the case, just buy some Bitcoin from a major trading platform like Coinbase and transfer the funds into your wallet.
Step 3. Purchase
To purchase IOTA, just search for the coins market denotation – MIOTA – on your chosen exchange. Then, look for the pair that matches your chosen currency; so, if you are using USD, look for the MIOTA/USD pair, whereas if your account is filled with Bitcoin, find the MIOTA/BTC pair.
Then, enter the number of MIOTA tokens you want to purchase, check you are happy with the price and transaction fees, then execute your transaction.
Step 4. (Optional) Get a suitable wallet
This is the final step of the process, and it is important if you want to store your crypto funds securely, especially if you plan on holding them for the long term. Wallets are just that – digital or physical storage facilities for your crypto coins. Below, we have outlined some of the best wallets to store IOTA coin:
- Ledger Nano S: This hardware wallet looks like a USB stick and it is extremely easy to set up and use. Your funds will be secured fully offline, protecting them from potential online theft. Get the Ledger Nano S today >
- CoolWallet: With both a physical storage unit and connected app, CoolWallet is the best of both worlds. If you want to combine the security of physical storage with the convenience of digital access, CoolWallet could be the right crypto wallet for you. Join CoolWallet today >
How to trade IOTA – a step-by-step guide
Step 1. Find a CFD broker
Trading cryptocurrency requires you to quickly open and close positions to take advantage of market fluctuations. The easiest and most effective way of doing this is through an online broker.
When trading crypto through a broker, you will be using contracts for difference (CFDs), meaning you are trading a contract that represents your chosen crypto rather than the crypto itself. Brokers are, by and large, easier to use for beginners than exchanges, and we have listed two of the leading options below:
- eToro: As one of the world’s leading online brokers, eToro offers all manner of digital assets. With a clean user interface and a diverse community, it is a good platform for trading newbies and virtuosos alike. Sign up to eToro now >
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
- Capital.com: Capital.com has the tools and charts you need to trade effectively. In addition, it implements AI tech to help enhance your trading ability. Sign up to Capital.com right now >
Step 2. Create an account and deposit money
The process of creating an account is very similar to the situation with exchanges. Simply fill out all of the contact details you need to provide and send over a copy of your photo ID if it is required.
As regards funding your account, this is rather simple, as many brokers now offer simple payment methods, so you can buy popular cryptocurrencies like Bitcoin using PayPal. This will vary from platform to platform, and some may prefer a good old fashioned bank transfer, so make sure you check.
Step 3. Learn how to perform technical analysis
To trade successfully, it is imperative you have a firm understanding of technical analysis. This involves reading price charts, identifying trends and spotting the key technical indicators you need to inform your trades.
Make sure you check out our short-term trading course for an overview of the basics. This will help you form a base of technical knowledge to launch your trading career from.
Step 4. Decide whether to go long or short
Going long is investing in the belief an asset will rise in value, and going short is the exact opposite. You can do either with IOTA, though how successful each strategy will be depends on economic conditions. If prices are on the up, going long could be prudent, whereas if the market is spiralling downwards, going short could be an effective way to profit.
Step 5. Start trading
Now your account is set up, validated and funded, it is ready for you to make your first MIOTA trade. Simply search for MIOTA in the interface of your chosen platform, decide if you want to go long to short, then enter the number of tokens you want to speculate on and execute the trade.
Before you do any of this for real, we highly recommend trying a demo account so you can learn from your mistakes without being punished with capital losses. This will set you up well for the long run since you can draw on this experience in times of adversity.
Should I invest in IOTA?
Before investing in a cryptocurrency, it is extremely important that you analyse the wider market and identify any telling trends. If prices are broadly on the up, altcoins like IOTA often thrive, but when prices are falling, altcoins can suffer the heftiest losses.
IOTA is not the simplest project in the world, so make sure you understand the Internet of Things and how IOTA slots into this macro story. When it comes to investing, your best approach is dollar-cost averaging: slowly increasing your position with equal sums of money at set intervals. This helps mitigate the impacts of market volatility and balances your average investment price.
Still undecided?
Pros
- IOTA eliminates the need for miners
- Tangle resolves scalability issues associated with the blockchain
- If IoT devices continue to grow in popularity IOTA should be well placed
- IOTA has the potential to outperform Bitcoin according to some commentators
Cons
1. Is now a good time to buy IOTA?
That depends; are you a long-term investor or a short-term trader? For long-term investors, you need to believe that IOTA has the credentials to succeed blockchain technology and become the next big thing. If this is the case, make sure you conduct a deep fundamental analysis so you can get a clear idea of what exactly the project is worth and if its price is likely to rise.
For short-term traders, the fundamentals matter a whole lot less. Instead, you’ll want to stay up-to-date with market sentiment and trends by checking the latest news and conducting technical analysis.
Whatever route you choose to go down, make sure your decisions are informed by the latest and best analysis of IOTA and its investment credentials. Check out any of the pages below to learn more.
2. What problem does IOTA solve, and what are its investment prospects?
It eliminates the need for miners who consume a great deal of energy, and it resolves some of the key scalability issues of blockchain via Tangle. As IoT devices grow in popularity, IOTA could be poised to experience further growth.
However, there are still some concerns. Most notably, potential security issues remain a topic of discussion regarding the network. Moreover, if the IoT is unable to achieve mainstream adoption ahead of blockchain technology, it remains to be seen how successful IOTA can be.
Below, we have included some of the latest news concerning IOTA so you can see what is happening right now and how it is affecting the value of MIOTA coins. Just click on one of the stories to get started:
What will “Login with IOTA” mean for the future value of the token?
IOTA Foundation partners with DELL, can this lead to the growth of the token?
IOTA (MIOTA) makes a slight rebound, attempts to move past $1.20
3. Do you want to hold IOTA for the long term?
You can either hold onto your investment for the long term to speculate on its future value, or you can flip it in the short term for accelerated returns. While both strategies can be effective, both require different considerations. These are outlined below.
Considerations for a long term investment strategy
If holding IOTA for the foreseeable future is your strategy of choice, you should prioritise finding a reliable exchange so you can buy the number of coins you want quickly and simply. In addition, opening a wallet to store your funds securely may be a good idea.
Considerations for a short term trading strategy
If short-term trading is on the menu, you need to find a CFD broker with low fees. Since you will incur these fees so frequently, it is crucial they are favourable else your returns will be eaten into.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >