How to buy IOTA

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.
  • Fast transactions: IOTA transactions are confirmed within minutes.
  • Distributed: A globally distributed network, IOTA is resilient and robust against attacks.
  • Optional Quantum Robustness: With Winternitz signatures IOTA is resilient to the next generation of computing.

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 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’. It is predicted that 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 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.

How to buy IOTA

Europe’s leading crypto broker

Buy IOTA on Bitpanda

Buying IOTA on Europe’s leading retail broker for buying and selling Bitcoin, Ethereum and other cryptocurrencies is easy, fast and secure. With a PSD2 payment service provider licence, state-of-the-art security and streamlined user experience, Bitpanda has grown into a popular trading platform.


Buy IOTA Bitpanda

Bitpanda GmbH is a fintech company based in Vienna, Austria, specialized 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, offering 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.

Why you should choose Bitpanda

  • Easy and convenient
    Bitpanda provides new users with the easiest and fastest access to the world of IOTA, Bitcoin, Ethereum and cryptocurrencies, while giving experienced users full control over their portfolio.
  • Buy and sell securely
    Bitpanda feels strongly about security. To ensure that everything is 100% safe, Bitpanda uses state-of-the-art technology and stores your funds in secure offline wallets.
  • Fast and reliable
    You can buy IOTA, Bitcoin, Ethereum and other cryptocurrencies in minutes, 24 hours a day, 7 days a week. Thanks to strong API-applications, high-end servers and a fully automated order system.
  • Multiple payment options
    You can choose between many payment and payout options, like credit card, NETELLER, Skrill, SOFORT-Transfer, GIROPAY, Sepa, Amazon and many more.

Signing up is quick and easy

  1. Sign up to Bitpanda
    Enter and confirm your email address to sign up.
  2. Finish the verification and deposit funds
    Easily get verified through a Bitpanda verification partner.
  3. Start buying and selling
    Log in to start buying or selling IOTA.

Bitpanda believes in the innovative power of IOTA, Bitcoin, Ethereum and other cryptocurrencies, digitized assets and blockchain technology. The mission is to tear down the barriers to personal finance and bring traditional financial products into the 21st century. In case you are stuck, the Bitpanda Support is at your disposal at any time.

IOTA Recovery Phrase

Your 24-word recovery phrase is the master key to your IOTA tokens. You can use it to access your funds with the Firefly wallet on your desktop computer.

Warning: Be sure to carefully copy the 24 words in the exact same order as displayed when setting up your Firefly wallet. Also, it is important to store them in a safe place. There is no way to access your IOTA tokens if your 24-word recovery phrase is lost or compromised.

1. You are your own bank


These technologies are in their infancy and are prime targets for hackers, so take the time to educate yourself before buying and securing your tokens.

2. The secret is secrecy

Buy IOTA PayPal

As is the case with all digital currencies, the security measures rely on the owner’s ability to protect the wallet seed.

3. Possession is ownership

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If the seed is compromised, forgotten or misplaced, there is no recourse. The Foundation has absolutely no ability to recover lost tokens or seeds.

IOTA Wallet

Until now, IOTA’s primary wallet has been Trinity. Trinity was IOTA’s first stateful wallet, successfully making one-time signatures safe for human use. But Trinity, like the number system it owes its etymology to, will remain in IOTA 1.0. The wallet for IOTA 1.5 and beyond is called Firefly.

A production-ready version of Firefly was released for the Chrysalis migration on 21st April 2021. The migration process is simple. Whether before or after Chrysalis, all you will need to do is enter your IOTA seed into the new Firefly wallet, and it will take care of everything else.

Firefly has been built with the future in mind . As the entry-point to IOTA’s ecosystem, Firefly will integrate many of the upcoming features of the IOTA protocol, from tokenized assets and dApp interaction to mana delegation and Identity. Firefly will also see new features that enhance IOTA’s user experience as a payment protocol, such as a contact system and an accompanying browser extension.

  • Ease-of-use
    Firefly guides you through the complexities of crypto, protected and with ease.
  • Security
    Firefly uses cutting edge Stronghold technology, so you don’t have to think much about security.
  • Future proof
    Firefly has a modular design that makes it easy to add innovative new features later on.
  • Automated updates
    Download security and feature updates without ever leaving the app.
  • Network indicators
    Network indicators inform you on the current health of the IOTA network.
  • Backup and security reminders
    Save your wallet setup – make sure you don’t lose anything.

Firefly is already very secure, offering industry-leading security features such as Stronghold to secure your funds. By using an additional hardware layer, your seed is stored within the hardware device, instead of Firefly, 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 easily be hacked by amateurs.


Ledger Nano X Hardware Wallet!

The Ledger Nano X has a Bluetooth feature that easily and reliably connects through the Ledger Live Mobile app, which allows users to connect the device to their smartphone, providing increased mobility without sacrificing security. The Ledger Nano X can store up to 100 crypto assets like IOTA, which is six times more capacity than the Ledger Nano S, and includes an improved interface with a larger screen.

As Ledger’s new signature product, the Ledger Nano X improves on the Ledger Nano S, the world’s most popular hardware wallet having sold over 1.4 million units, with enhanced state-of-the-art security and an improved user experience and design.

Ledger also launched the Ledger Live Mobile app, which allows Ledger Nano X users to manage secure transactions, install and uninstall apps, and check their real-time balances on the go. It will also enable Ledger Nano S users to check their balance in read-only mode. Ledger Live Mobile is available in the App Store and Google Play.

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