How to Buy IOTA

IOTA (IOTA) cryptocurrency ranks at 85 place by capitalization. It’s 11 April 2024 on $956,966,441 year. Circulating supply: 3,210,367,601. Maximum supply – 4,600,000,000. The price of IOTA for today – $0.29839 with trading volume of $22,655,504 for 24 hours. The maximum price of IOTA was registered on 19 December 2017 year and was – $5.25. The lowest price of IOTA, $0.08164, was registered on 13 March 2020.
IOTA (IOTA)
$0.29839 +1.11% ↑
24h price change
$0.0032880
Capitalization
$956,966,441
24h trading volume
$22,655,504
on the official website

How to Buy IOTA Price in USD: Convert to US Dollar

IOTA
IOTAIOTAIOTA
BitcoinBTCBitcoin
EthereumETHEthereum
TetherUSDTTether
BNBBNBBNB
SolanaSOLSolana
XRPXRPXRP
Lido Staked EtherSTETHLido Staked Ether
USDCUSDCUSDC
DogecoinDOGEDogecoin
ToncoinTONToncoin
CardanoADACardano
AvalancheAVAXAvalanche
Shiba InuSHIBShiba Inu
Bitcoin CashBCHBitcoin Cash
PolkadotDOTPolkadot
Wrapped BitcoinWBTCWrapped Bitcoin
TRONTRXTRON
ChainlinkLINKChainlink
PolygonMATICPolygon
NEAR ProtocolNEARNEAR Protocol
US Dollar
USD
US DollarUSDUS Dollar
/wp-content/themes/tgd/assets/images/content/flag_eu.svgEUREuro
/wp-content/themes/tgd/assets/images/content/flag_ru.svgRUBRussian Ruble
/wp-content/themes/tgd/assets/images/content/flag_ua.svgUAHUkrainian hryvnia
/wp-content/themes/tgd/assets/images/content/flag_pl.svgPLNPolish zloty
/wp-content/themes/tgd/assets/images/content/flag_gb.svgGBPPound sterling
/wp-content/themes/tgd/assets/images/content/flag_jp.svgJPYJapanese yen
/wp-content/themes/tgd/assets/images/content/flag_ch.svgCHFSwiss Franc
/wp-content/themes/tgd/assets/images/content/flag_cn.svgCNYChinese Yuan
/wp-content/themes/tgd/assets/images/content/flag_tr.svgTRYTurkish Lira
on the official website
Data updated 4/11/2024

    IOTA is an open-source crypto platform that operates on the directed acyclic graph (DAG) principle. The difference between this network organization and traditional blockchain is that it allows parallel chains of block formation (as opposed to linear chains in traditional blockchain). The platform’s coin is also called IOTA and is available for purchase on various platforms.

    In this article, we will look into the main way of acquiring a token - on a centralized cryptocurrency exchange.

    What Is IOTA

    The IOTA project was founded in 2015 by an international team of developers, which later evolved into the IOTA Foundation, headquartered in Berlin. The maximum token issue is limited to about 2.78 trillion coins. Due to the network’s specific organization, the system does not support mining. The main advantages of the crypto-platform are the absence of commissions, the high transaction speed and the ability to use microtransactions.

    How to Buy IOTA MIOTA
    IOTA Foundation homepage

    In the early stages of development, the aim of the project was to organize fast and secure data transfer, as well as the absence of transaction fees. Today, the IOTA Foundation’s interests lie in the field of the Internet of things – the organization is working to unite all Internet-connected gadgets into a single network using a “parallel” blockchain.

    The smallest unit of cryptocurrency in the IOTA ecosystem is called iota (after a letter of the Greek alphabet). A million base units are called MegaIota or MIOTA. Both IOTA and MIOTA tickers can be found on cryptocurrency platforms.

    Where Best to Buy IOTA

    Like most cryptocurrencies, IOTA is available for purchase on cryptocurrency exchanges, through cryptobots and payment systems. But the simplest, most convenient and profitable option is cryptocurrency exchanges.

    Cryptocurrency exchanges are characterized by high liquidity, increased security, and also provide different ways of buying cryptocurrency: via bank cards, through the trading terminal of the spot market, P2P-platforms, etc.

    IOTA Buying Guide

    For a beginner, buying IOTA comes down to a step-by-step process. Detailed instructions on how to buy the coin consist of the following steps:

    1. Evaluation of the acceptable risk level;
    2. Choosing a cryptocurrency exchange;
    3. Account creation;
    4. Depositing cryptocurrency or fiat to your account;
    5. Buying IOTA.

    Determine your risk level

    Investing in cryptocurrency involves high risk
    Investing in cryptocurrency involves high risk

    Investing in cryptocurrency is very risky. The reason for this is the high volatility of the cryptocurrency market and its unpredictability. Therefore, it is important to determine the level of acceptable risk before taking the first steps.

    Remember the main rule: invest as much money as you are willing/able to lose. In addition, it is also worth heeding the following advice:

    • Do not buy an asset with all the money you have;
    • Do not buy an asset with borrowed money;
    • Do not put all your money in one asset;
    • Do not buy an asset with the last of your money, counting on luck.

    Select a crypto exchange

    Cryptocurrency exchanges work on the same principle, but have different working conditions. When choosing a suitable option, it is necessary to pay attention to the following parameters:

    • Methods of refilling the account;
    • Trading conditions;
    • Trading commissions;
    • Deposit and withdrawal commissions;
    • User account protection methods;
    • Reviews, etc.

    This information can be found on the websites of the trading platforms. For simplicity, you can choose any service from the table below.

    Exchange
    Website
    BTC trading volume, 24h
    1Binance
    Binance
    BTC trading volume, 24h
    116.79
    2HTX
    HTX
    BTC trading volume, 24h
    23.38
    3OKX
    OKX
    BTC trading volume, 24h
    18.91
    4BingX
    BingX
    BTC trading volume, 24h
    5.28
    5KuCoin
    KuCoin
    BTC trading volume, 24h
    3.925

    Register an account

    The next step on the path to buying IOTA is to register an account on the selected exchange. For example, let’s create a user account on the OKX platform. To do this:

    1. In the upper right corner of the official site, click Sign Up;
    2. Enter your email and password in the now opened window → enter your referral code (if any) and click Sign Up;
      OKX registration form
      OKX registration form
    3. Enter the 6-digit code sent to your email;
      Window for entering a 6-digit code
      Window for entering a 6-digit code
    4. An account has been created.
    Detailed instructions on how to register an account are given in the review of OKX.

    Fill account

    The OKX exchange relates to trading platforms that do not support deposits in fiat currencies. To make a deposit on it, you have to use crypto. Let’s replenish the balance with the USDT cryptocurrency. To do this:

    1. In the top menu, click Assets → Deposit;
    2. Specify USDT as the deposit currency and select the desired network;
      Selecting USDT and network
      Selecting USDT and network
    3. Select an account to transfer USDT (general or trading). After the choice is made, the exchange will show the address of the wallet to transfer the crypto (it is also encrypted in the QR-code);
      Address and QR-code for USDT transfer
      Address and QR-code for USDT transfer
    4. In the crypto wallet, select USDT as the transfer currency and enter the address obtained on the exchange page in the transfer field. Alternatively, you can scan the QR code;
    5. Confirm the transaction;
    6. Transaction completed.

    Buy IOTA (MIOTA)

    After the account has been filled with USDT coins, it is necessary to use the trading terminal of the exchange to buy IOTA. To do this, you need to perform the following actions:

    1. Login to the user account and click Trade → Basic Trade in the top menu;
      Turning on the terminal to buy IOTA
      Turning on the terminal to buy IOTA
    2. The terminal window opens. Go to the search field and enter the IOTA ticker. The terminal will show the available trading pairs: select IOTA/USDT from the list;
      Terminal and search field interface
      Terminal and search field interface
    3. Scroll through the terminal window until the Buy IOTA button appears. Select the type of order, for example, Market (order to buy IOTA at the current market price);
    4. Specify the amount of USDT to buy IOTA in the Amount field;
    5. Click Buy IOTA.
      Buying IOTA through the OKX terminal
      Buying IOTA through the OKX terminal

    How to Sell IOTA

    The process of selling IOTA through the terminal is identical to the buying process. The only difference is that the filling of the sell order takes place in the fields above the red Sell IOTA button.

    Filling a sales order
    Filling a sales order

    Where to Store MIOTA

    To decide on the type of storage for IOTA, you need to determine how the cryptocurrency will be used.

    If you actively trade on an exchange or often use cryptocurrency as a payment method, then the best solution for storing IOTA is a hot wallet. They are constantly connected to the Internet and provide fast access to assets. There are not many hot wallets for MIOTA. We recommend using Firefly Wallet, the official app from the IOTA Foundation.

    Firefly homepage
    Firefly homepage
    As an alternative, you can consider wallets from our proven cryptocurrency wallets rating.

    The disadvantages of hot storages include their susceptibility to hacking. When using them, it is worth remembering about security methods: strong passwords and 2FA authentication.

    For long-term storage of cryptocurrency, hardware or cold wallets are suitable. They provide better protection and are not connected to the network all the time. IOTA Foundation recommends using Ledger Nano S or Ledger Nano X. The disadvantages of such wallets include their high cost.

    Ledger Nano X
    Ledger Nano X

    How to withdraw IOTA to a wallet?

    To withdraw IOTA, you need to create a withdrawal request on the cryptocurrency exchange. As an example, let’s look at withdrawing IOTA from OKX to Firefly Wallet. Follow these steps:

    1. While in your OKX account, click Assets → Withdrawal;
    2. Select IOTA from the list of cryptocurrencies→ specify the networkContinue;
      The first step of withdrawing IOTA
      The first step of withdrawing IOTA
    3. In the next window, specify the address of the wallet to withdraw coins. The exchange will calculate the commission automatically;
    4. To get the address, log in to your Firefly Wallet and click Receive on the Balance tab;
      Firefly Wallet interface
      Firefly Wallet interface
    5. In the next window, the wallet will show the address to get IOTA and QR-code to scan;
      Firefly Wallet interface
      Firefly Wallet interface
    6. Go back to the exchanger interface, paste in the correct field copied from the wallet address and click Continue;
      The second step of withdrawing IOTA
      The second step of withdrawing IOTA
    7. Enter the password to access the money (if set in the settings) and the code from SMS → click Confirm;
    8. IOTA will be withdrawn to the wallet.

    FAQ

    What is IOTA in simple terms?
    IOTA is an open source crypto platform and its cryptocurrency of the same name.
    How to buy IOTA?
    The most reliable and profitable way to buy IOTA is through a cryptocurrency exchange. To do this, you need to:

    • Decide what exchange to use;
    • Create an account and go through KYC procedures (if required by the exchange);
    • Replenish balance;
    • Enter the trading terminal and select the currency pair in which IOTA is traded;
    • Fill in a purchase order;
    • Specify the number of coins to buy and click Buy IOTA.

    Where to buy IOTA?
    You can buy IOTA on cryptocurrency exchanges, through cryptobots, payment services and some banks. Buying through cryptocurrency exchanges is considered the safest, most convenient and profitable way. We recommend buying IOTA on OKX.
    When is the best time to buy IOTA?
    The best time to buy IOTA can be shown by technical or fundamental analysis. You can study these disciplines, but it will take effort and time. As a beginner, we recommend listening to the opinions of reputable industry participants and successful investors.
    Is it worth buying IOTA?
    Studying the official documents of the IOTA Foundation and the prospects of the project will help to answer this question. It will also be useful to read feedback from respected participants in the crypto-sphere.

    Remember that you alone are responsible for the outcome of your investment decisions.

    Was this article helpful?
    Thanks for your opinion!
    Your opinion is important for us
    Voted: 103
    97% Yes
    No 3%
    Agatha Redich
    Agatha Redich
    Articles author, editor
    Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.
    Read more
    Emil Rabin
    Emil Rabin
    Site expert
    Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the TGDRatings.com portal since 2022.
    Read more

    Comments (0)

    Add a comment to the article

    Other users will see your name. Your email won’t be shown.
    Clicking the button “Leave a comment” I give my consent to the processing of personal data and agreed with privacy policy.
    Your comment sent successfully!
    Now it’s on moderation and will be published after checking by our specialists.