IOTA is an open source distributed protocol that was launched in 2015. Its main innovation is the Tangle structure, which differs from the usual blockchain in the absence of blocks as such. It is a quantum stable directed acyclic graph (DAG). The technology is mainly aimed at applications such as IoT (Internet of Things), microtransactions, data integrity, etc.
MIOTA is the underlying cryptocurrency of the protocol and has a fixed amount of money. The IOTA network plans to implement transactions with zero fees and no restrictions on the number of payments confirmed per second. Thus, the scaling restrictions will be completely removed, as the bandwidth will grow with the activity: the more transactions are processed, the faster the network is.
As of 2021, IOTA is showing active growth – in March a new value record was set, which has not been exceeded since 2018, and the coin entered the top 30 in terms of capitalization. The reason is the Chrysalis update, which will be released in April. The creators worked on it for 1.5 years. Chrysalis will finally move the blockchain to a new distributed ledger that will work without miners, and there will be no fees for transactions.
How to buy or sell IOTA (MIOTA)
IOTA trading is available on cryptocurrency exchanges and exchanges. Let’s consider both options.
Several popular platforms that MIOTA is listed on (on some exchanges, the asset may be designated as IOT or IOTA):
- Binance. The exchange has been operating since 2017 and provides extensive functionality for trading, exchange, investing, passive income, lending, and many others. Provides high liquidity for all top trading pairs, as well as a sufficient level of security to protect user accounts from hacking. Most of the funds are stored in cold wallets, there are 2FA and other security measures. Trading volume in 24 hours – $ 24,039,140,854. IOTA is traded in pairs with BTC, ETH, USDT, BNB, BUSD.
- Huobi. The exchange was launched in 2013, thus, it is also one of the oldest and most proven ones. It is actively developing, adding new functions: there is an instant crypto purchase service, spot trading, margin trading, OTC, and a trading bot. The derivatives market includes futures, leveraged tokens, options. In addition, there are services for deposits and crypto loans. An extensive knowledge base provides detailed information on how to work with the platform. Trading volume in 24 hours – $ 7,230,064,743. IOTA is traded in pairs with BTC, ETH, USDT.
- Okex. The site branched off from OKCoin in 2013, and today it enjoys a fairly high popularity all over the world, thanks to its high liquidity and extensive functionality. It allows you to receive passive or active income on regular and margin trading, participate in profitable farming through Sushiswap or Compound, and take out crypto loans. There is a Jumpstart platform for IEO, a cross-chain gateway, a mining pool. Trading volume in 24 hours – $ 6,157,444,724. IOTA is traded in pairs with BTC and USDT.
- Bitfinex. The platform has been operating for a long time – since 2012, currently providing services for active traders and landers. An extended range of trade orders is supported. A derivatives market is available, as well as margin trading with up to 10x leverage. At the same time, those who want to make money can provide their digital and fiat money assets as leverage and receive interest on this. Trading volume in 24 hours – $ 846,858,591. IOTA is traded in pairs with BTC, ETH, USD, EUR, GBP.
- Gate.io. The 2013 launch site, formerly known as Bter. In addition to standard spot trading (in a classic or professional terminal), it supports such opportunities as margin trading, crypto ETF products, derivatives, crypto loans, mining, etc. The own GT token allows you to save on commission fees. You can use the exchange from a computer or mobile devices, the interface is simple and straightforward. Trading volume in 24 hours – $ 429 441 313. IOTA is traded in pairs with BTC and USDT.
Also, the cryptocurrency is present on several dozen lesser-known platforms, but due to low liquidity, trading on them may be less profitable and convenient.
There are only a few exchangers with IOTA, you can find them through the monitoring by selecting the desired exchange direction. At the moment, there is an opportunity to buy or sell MIOTA using Visa / Mastercard, most Russian and Ukrainian banks, Payeer, QIWI, AdvCash, yuMoney, Perfect Money, as well as almost all top cryptocurrencies.
Exchangers are suitable for this purpose:
Where to store MIOTA
The official wallet of the project is Trinity Wallet.
It is available for Windows 10, Linux, Mac, Android, iOS operating systems. There is open source code on GitHub. Russian language is not supported. You can store only MIOTA, and the wallet also provides real-time data on the market value of the coin in relation to different currencies.
The service has a high level of security with powerful encryption of the seed phrase. You can connect with one password to several accounts at once. Trinity Wallet also makes the sending process as simple as possible, automating most of the transactions and ensuring fast transactions.
Trinity is compatible with Ledger hardware wallets. The wallet’s official website has detailed instructions on how to set up its integration with the Ledger Nano S.
In addition to the wallet, you can store IOTA on the exchange where you trade. But it is better to withdraw long-term investments, since exchanges are theoretically susceptible to hacking.
Many experts are convinced that now is the time to buy IOTA – before the update, which will almost certainly lead to an increase in the rate. Of course, this is only an opinion, and the investor must directly decide on the profitability of a particular investment. We talked about the ways to buy and sell MIOTA cryptocurrency; there are not as many of them as in the more popular coins, but if the project continues to develop further, then the number of options for operations with this asset will also increase.