How to buy IOTA

Before we teach you how to buy 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.

IOTA Features:

1. Highly Scalable: Increased network activity decreases transaction settlement times.
2. Low resource requirements: Designed for tiny devices, such as sensors, to participate.
3. Zero-fee transactions: Send 1 cent and receive 1 cent, send $1,000,000 and receive $1,000,000.
4. Secure data transfer: All data is encoded, allowing secure data transfer, storage and reference.
5. Offline transactions: Devices never need perfect connectivity.
6. Quantum Immune: Using special signatures IOTA is resilient to the next generation of computing.

Using IOTA, for the first time ever, people and machines can transfer money and/or data without any transaction fees in a trustless, permissionless, and decentralized environment. This means that even nano-payments are possible without the need for a trusted intermediary of any kind. The IOTA token was created to service the ‘Internet of things’ (IoT): the billions of small computing devices that are increasingly being embedded into everyday objects, enabling them to send and receive data. IOTA transforms these connected machines into autonomous economic agents, enabling an entirely new ‘economy of things’.

On the IOTA distributed ledger, each and every connected machine can maintain its own virtual wallet and can transact with other connected machines, even for values worth fractions of a cent, with zero fees. It is predicted by 2025 that more than 75 billion devices will be connected to the Internet of things.

The token was launched in June 2017 with its total supply of approximately 2.78 quadrillion IOTA (2.78 PetaIOTA) made available from the beginning. No additional IOTA will ever be created. Until IOTA adoption becomes more widespread, 1 MegaIOTA (MIOTA) is the currently accepted base unit.

Bitpanda GmbH is a fintech company based in Vienna, Austria specialised in selling and buying IOTA, Bitcoin, Ethereum and other cryptocurrencies. It has quickly grown to become Europe’s leading retail broker for IOTA, Bitcoin, Ethereum, Litecoin and more with over 1,000,000 users. You can freely choose between SOFORT-Transfer, Visa / MasterCard, NETELLER, Skrill, GIROPAY / eps, Amazon voucher (payout only), euro wallet and bank transfer payment and payout options.

Bitpanda is all about ease of use. A one-tier verification process gives you access to an intuitive, fast and secure trading experience. The fully automated platform provides both new and experienced users with complete control over their portfolio. The simplest and fastest access to buying, selling, swapping or sending Bitcoin, Ethereum, IOTA and other cryptocurrencies. Euro, Swiss Franc, British Pound Sterling and US Dollar support as well as a wide range of payment and payout providers offer you extra flexibility. To stay ahead of the curve, Bitpanda continuously improves existing products while expanding the scope to introduce new services.

Bitpanda has been around since 2014 and is a key player in Europe. The fintech company can build upon a lot of synergies and wants to offer experienced users a way to trade digital assets in the most secure and convenient way possible. Bitpanda Global Exchange expands the offering beyond the popular, easy-to-use Bitpanda platform, which is the go-to-place to buy IOTA or store cryptocurrencies like Bitcoin, Ethereum, digitised gold and more in Europe.

The Bitpanda Global Exchange was developed 100% in-house over the course of the last two years. It will not only provide a highly liquid marketplace for IOTA, Bitcoin, Ethereum and other crypto assets. Bitpanda also aims to bring all existing and future digital asset classes offered by Bitpanda to the Global Exchange. It is available globally for crypto-to-crypto and fiat-to-crypto trading. Verified Bitpanda users within the majority of European countries can also deposit Euro, Swiss Franc and British Pound. The Bitpanda Global Exchange is closely connected to the Bitpanda platform, which means that users can move funds easily between them. Bitpanda Global Exchange launches with popular trading pairs such as MIOTA/EUR, MIOTA/BTC and many more to come.

Each IOTA wallet is identified and protected by a unique access key known as a ‘seed’. The seed is an 81-character string, comprised of capital letters A-Z and the number 9. It’s important to note that while we call them wallets, they do not actually store tokens. They are better thought of as keychains that provide access to the tokens you store permanently on the ledger.

Warning: Your wallet seed must be securely stored to safeguard your funds. There are no possible retrieval methods if you lose, insecurely generate or compromise your seed. Knowing  the ‘seed’ is equivalent to ‘owning’ the tokens.

Trinity is already very secure, offering industry-leading security features such as SeedVault to secure your funds. By using an additional hardware layer, your seed is stored within the hardware device, instead of Trinity, providing a secure layer of separation.

Ledger wallets are built with a distinctive operating system (OS) called BOLOS, which is integrated into a secure chip. The EAL5+ certified secure chip used in Ledger Hardware Wallets is the same one used for credit cards or passports. It is a tamper-resistant platform capable of securely hosting applications and data, in accordance with the rules and security requirements set by pre-authorized applications and people. Hacking a secure chip takes a formidable effort, while generic microcontrollers can be easily hacked by amateurs.