It’s a common trend to buy cryptocurrencies, such as Bitcoin or Ethereum from Coinbase and transfer to Binance to buy IOTA. However, Binance has also introduced a fiat on-ramp that allows for payments with credit and debit cards since January 2019. IOTA is also traded on a number of other platforms, including such that offer direct fiat gateways via payment processors. Such other platforms include Bitpanda and eToro.
Before we show you how to buy the cryptocurrency IOTA, you should know that IOTA is a revolutionary new transaction settlement and data transfer layer for the Internet of Things (IoT). It is based on a new distributed ledger technology, the Tangle, which overcomes the inefficiencies of current Blockchain designs and introduces a new way of reaching consensus in a decentralized peer-to-peer system.
- Highly Scalable: Increased network activity decreases transaction settlement times.
- Low resource requirements: Designed for tiny devices, such as sensors, to participate.
- Zero-fee transactions: Send 1 cent and receive 1 cent, send $1,000,000 and receive $1,000,000.
- Secure data transfer: All data is encoded, allowing secure data transfer, storage and reference.
- Offline transactions: Devices never need perfect connectivity.
The IOTA token was launched in June 2017 with its total supply of approximately 2.78 quadrillion IOTA made available from the beginning. No additional token will ever be created. Until the adoption becomes more widespread, 1 MegaIOTA (MIOTA) is the currently accepted base unit.