Altcoin

Buying IOTA (MIOTA): quick, safe and cheap: our experiences

Detailed trading-instruction using crypto-exchange Bitfinex. What about Anycoindirect, LiteBit, Kraken and Bittrex?


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Buying IOTA (MIOTA): quick, safe and cheap: our experiences (c): https://iota.org/

07.01.2018

Iota is coming 8th place of crypto-currencies at the moment and has a market capitalization of more than 2 billion Euros. This Altcoin of the next generation intents to finally allow the internet of things, thus it is an insider tip for long-term investors. We show the characteristics of the coin and how and where you can buy it.





Summary: IOTA at a glance

  • On the market since 2017
  • Unlimited scalability (Bitcoin: 1 MB)
  • No transaction fees
  • The “engine” for the internet of things
  • Exactly 2,779,530,283 coins available, there will be no more coins
  • No mining, all IOTA already on the market

 


Is it still worth buying IOTA (MIOTA)?

In our opinion: yes!


But why?

Technology behind IOTA is revolutionary and avoids every weakness of Bitcoin and Co.: there are a lot and transactions do not cause any expenses.

 

Whereas many crypto-currencies are considered only means of payment – partly also to save complete contracts (like Ethereum) – the developers of IOTA made it to their business to control the internet of things with their software. So, the refrigerator at home can check, when vegetable or milk are running short and order automatically from the supermarket or online shop. The washing machine starts when there is lots of (eco-)power in the power grid, but utilization is low. Or you operate your shutters using your smartphone when driving home. Or your car with e-wallet buys a parking ticket by itself.

 

To run the system efficiently, there cannot emerge any costs and the technology also must be able to execute billions of inputs at the same time. This is the reason why there are so many IOTA-tokens. Moreover scalability is unlimited – thus bottlenecks similar to those caused by Bitcoin-transactions are to be avoided from the beginning.

 

At the moment (November 2017) one IOTA costs less than 80 cents. This means that you actually get one Mega-IOTA, i.e. 1,000,000 pieces.

 

IOTA is already collaborating with well-known technology enterprises, e.g. Volkswagen, and is partner of “Trusted IoT Alliance”, which Bosch and Cisco belong to as well. Therefore we can expect that all new developments concerning the internet of things (IoT) will be working with IOTA.

 

The instant internet compatible products appear on the market, you can expect a rocketing IOTA exchange rate. We ourselves keep a larger amount of IOTA and believe that there is a great opportunity.

Probably you need two or three more years of patience, but at the moment you can start at a very reasonable price.

 

The decision of purchase is an individual one, though.

 

What is MIOTA? Where is the difference between IOTA and MIOTA?

MIOTA is a unit of IOTA. MIOTA is bought directly on almost all stock exchanges, and the price of IOTA is usually quoted in MIOTA. The "M" stands for mega, so on million. Thus, 1 MIOTA is equivalent to 1,000,000 IOTA.

Often, confusion arises when the IOTA is transferred from a wallet and the wallet displays the correct unit of measurement. For example, if 1 MIOTA was purchased from Bitfinex, the wallet displays 1,000,000 IOTA.

 

Where can you buy IOTA (MIOTA)?

It is only a few months that the Altcoin is available on the market, but there is only one provider: Bitfinex.com* has the monopoly on IOTA-trading.
All the other platforms like Anycoindirect, LiteBit, Kraken or Biitrex do not offer IOTA.

 

Our evaluation:

The fact that IOTA is only available on Bitfinex, is actually good news: the moment the coin can also be traded on other exchanges, usually demand for it significantly rises – and therefore also the price.
So, discover IOTA now, lean back and wait for future developments.

 

Exchanging Bitcoin, Ethereum or Litecoin for IOTA (MIOTA)

In our guide we recommend exchanging IOTA for another crypto-currency. Bitcoin, Ethereum or Litecoin are the most suitable options since they already are established crypto-currencies which can be easily purchased from many providers. Thus there are many methods of payment and, in most cases, good exchange rates available for the crypto-currencies. Indeed crypto-exchanges like Bitfinex offer depositing US-Dollar or Euro, but verification takes some time and is relatively complicated.

 

Purchasing Bitcoin, Ethereum or Litecoin (optional)

Coinbase Review - Buy Bitcoin © "coinbase.com Screenshot"

For purchasing bitcoin, Ethereum or Litecoin we recommend the web-wallet and exchange Coinbase. Coinbase offers the integrated buying of Bitcoin, Ethereum or Litecoin in the web-wallet. As mode of payment you can choose between SEPA bank transfer, debit or credit card. For registration using our partner link and exchanging 100 US-Dollar for Bitcoin, litecoin or Ethereum you will get a bonus of 10 US-Dollar (8 Euros).

Click here to get 10 $ worth of Bitcoin at Coinbase*

Read the full review of Coinbase

 

Buying IOTA (MIOTA) on Bitfinex and save 10% trading fees

Register on Bitfinex (here is the test ). A verification is not necessary!
Registering using the link Bitfinex.com* or by providing the referrer code “o0ui9F5j1e” you save 10% of trading fees within the next 30 days.

Bitfinex-Test © "bitfinex.com Screenshot"

 

Step 1:

The equivalent of the desired amount of IOTA has to be kept as Bitcoin, Ethereum or US-Dollar in the exchange wallet. You can only exchange the amount for IOTA which is in your wallet.

 

Step 2:

Choose “trading”, continue selecting “IOTA” and then, e.g. the trading pair IOTA/BTC:

 

IOTA-Kauf © "bitfinex.com Screenshot"


Step 3:
Update the price clicking the green button in the field “order form”. Fill in the desired amount in “Amount Mi” and click on “Exchange Buy”.
 

IOTA-Kauf © "bitfinex.com Screenshot"

Your offer is placed and can be accepted by other traders.
Usually buying on Bitfinex does only take a few minutes. Your order can be checked underneath the exchange chart and also be modified afterwards.

 

Please note:

Placing larger orders it can occur, that these are exchanged piece by piece. Don’t get nervous! If prices are rising, you might adjust your order.


 
Our evaluation:

Fast, uncomplicated and cheap: highly recommended!
Disadvantage: Exchange only for Bitcoin, Ethereum and US-Dollar – still no exchange for Euro possible.

 

Conclusion

Buying IOTA is easy.
Exclusively Bitfinex still offers IOTA and this for a reasonable price. Who registers using our link, can additionally save 10% of the fees.

 

Our evaluation:

We are convinced that sooner or later the internet of things becomes reality. A prerequisite for this is software like IOTA, which is used by many larger tech-enterprises of different branches as a common basic element.

Iota could be on everyone’s mind in the long run.  It is therefore reasonable having a few IOTA in your portfolio, as long as they are still available for less than a Euro.

 

What is the exchange rate of IOTA (MIOTA) in euro?

Before buying, please check the present IOTA Coin rate in euro or US-Dollar. Attention, in almost all IOTA price quotes, MIOTA is mostly displayed, ie the price of 1,000,000 IOTA.

 

Buying IOTA (MIOTA) via Paypal?

Can you buy IOTA using Paypal? At the moment you cannot buy IOTA via Paypal, you have to exchange IOTA for another crypto-currency instead. As a matter of fact exchanges like Bitfinex offer depositing US-Dollar or euro, but verification takes long and is relatively complicated. We recommend exchanging Bitcoin, Litecoin or Ethereum for IOTA coins.

You can purchase Bitcoin on the platform VirWox choosing Paypal express. You cannot directly buy Bitcoin for US-Dollar or euro, but you have to use your Paypal deposits, with which you can then buy SSL-coins (“Second Live Linden”). Secondly you can then exchange these SLL coins for Bitcoin. After purchasing SLL coin via Paypal and exchanging SLL coins for Bitcoin you can then transfer your coins to your own Bitcoin wallet.

Despite the possibility of paying via Paypal, we cannot recommend purchasing per VirWox. Transaction fees and the complicated process are not compensated by the disadvantages of an easy and secure mode of payment via Paypal. Click here for the complete instruction to buy Bitcoin via Paypal.



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