Buy IOTA (MIOTA)
What is IOTA (MIOTA)?
Several crypto projects are designed to address some specific problems of traditional payment methods. But there are also revolutionary crypto platforms working on cutting edge technology developments. A great example of such a project is IOTA, which is specifically designed for the IoT (Internet of Things).
IOTA is a unique project that can become the basis for online transactions in the IoT. With its help, it is planned to connect hundreds of millions of online devices around the world. IOTA has its own MIOTA cryptocurrency, which is actively used.
In this article, you will learn what IOTA is, what its features are and whether it is worth trading.
When was the IOTA platform developed, for what purposes?
IOTA is a platform based on distributed ledger technology. The project was launched back in 2016. It is specifically designed to process and confirm online transactions that occur between devices and machines connected to the Internet.
In other words, it stores and executes online transactions in the IoT ecosystem. The project aims to support the Internet of Things, the machine economy and the coming industrial revolution.
It is important to note that IOTA, unlike most cryptocurrencies, does not work with the blockchain. This is the registry, also known as the IOTA Tangle. DAG (Directed Acyclic Graph) technology was used for development.
IOTA Tangle differs from blockchain in that it does not follow a straight-line chain. However, the platform is completely decentralized and follows the P2P (Peer to Peer) protocol.
The project's own cryptocurrency is MIOTA. This is the official coin that is used on the platform and is designed to improve the efficiency of the IoT. Moreover, the creators of MIOTA are looking to move beyond blockchain by expanding the use cases for cryptocurrency.
Now the platform cooperates with popular multinational brands, and the MIOTA cryptocurrency is used by many popular projects.
How to buy IOTA (MIOTA)?
The development of the IOTA platform has contributed to the growth in the popularity of the project's own cryptocurrency. MIOTA is now in the top 50 most popular cryptocurrencies.
At the same time, there were some unfortunate moments in the history of the development of the project. In 2017, a vulnerability was exposed by hackers, due to which the market capitalization of the MIOTA token dropped significantly.
Since then, a lot of water has flowed under the bridge and the project developers have worked on the bugs. Therefore, MIOTA is still listed on all popular exchanges and not only. With the popularity of the cryptocurrency market skyrocketing, many brokerage companies have begun adding cryptocurrencies to the CFD list. The vast majority of brokers still offer their clients cryptocurrencies from the top 10, but there are companies that provide the opportunity to trade CFDs on MIOTA.
Therefore, there are two main ways to trade MIOTA:
- Popular exchanges:
- Brokerage companies (at the moment, not all brokers provide the opportunity to trade CFDs on MIOTA).
These MIOTA trading methods have their own characteristics.
When choosing a cryptocurrency exchange and buying MIOTA, you are physically purchasing an asset. You can store it both on the platform's wallet, and transfer it to your cryptocurrency wallet and then use it at your own discretion.
By choosing a brokerage company and buying MIOTA, you will not physically own this cryptocurrency. Brokerage companies only offer cryptocurrency CFD trading. Therefore, you earn on the change in the price of the asset and cannot invest in IOTA in the long term.
Each of these trading methods has both advantages and disadvantages. It all depends on your goals and objectives. For what and for what purpose do you want to buy MIOTA.
For example, if you just want to speculate on the change in the value of an asset, then in this case you can use the services of a brokerage company. It is easier to work with them for a person who is not familiar with the world of cryptocurrencies, and you can trade both in a bullish and a bearish market. When trading CFDs, you can not only buy but also sell an asset.
Also, an indisputable advantage of a brokerage company is the ability to work directly with fiat currency. You can easily and directly fund your trading account with traditional money and immediately withdraw this money to your bank account, credit card or popular electronic payment system.
Many cryptocurrency exchanges do not directly deal with fiat money.
If you want to physically buy IOTA, then in this case only a cryptocurrency exchange is suitable. For security purposes, it is best to use the most popular exchanges, which provide customers with a convenient service, great functionality and a high level of security.
How to invest in IOTA (MIOTA)?
Investment involves a long-term investment in a particular asset. In this case, as a rule, the asset is bought not for a short period of time, but for a long period.
For invest in IOTA, only cryptocurrency exchanges are suitable, since when working with brokerage companies, all potential return on investments can be completely neutralized by a swap. In simple terms, a swap is a commission that is charged from a trader's account when a trading position is transferred to the next day.
To physically buy IOTA on a cryptocurrency exchange, you don't have to pay any commissions. You just keep the cryptocurrency in your wallet for as long as you like and don't pay anything for it.
Plus, you buy MIOTA on an exchange without leverage. This reduces your risks and the risk of closing a losing position by Stop out. With physical cryptocurrency trading, stop out is not possible.
Security of IOTA (MIOTA) investments
Any investment, both in traditional financial assets and in cryptocurrencies, carries a certain risk. Invest in IOTA is no exception. Investing in this cryptocurrency also carries a certain amount of risk.
Experienced users remember the events of 2019-2020, when vulnerabilities were discovered by hackers and coins worth more than $10 million were stolen from users' wallets.
But if we consider the risks of invest in IOTA from the point of view of the prospects for the development of the project, then it should be noted that the project has good prospects for development. This is a unique project that has its own flavor. At the same time, the developers did a good job on the security of the project and for almost 2 years the project has been providing reliable protection.
It is also worth taking into account the fact that the cryptocurrency has a limited volume of issue. When the project was created, a limited number of tokens were issued, which cannot increase as a result of mining (cryptocurrency mining is prohibited). Against the backdrop of a limited supply, the value of a token will inevitably grow with an increase in demand.
How to safely invest in IOTA online?
The first step is to choose a reliable cryptocurrency exchange where you will buy MIOTA. The most popular platforms have been listed above, but you can use other platforms if you are confident in their reliability and security.
The second factor of reliability is the choice of a cryptocurrency wallet for storing MIOTA. Yes, you can store cryptocurrency on the wallet of the exchange, but still, for long-term storage, it is best to use a cryptocurrency wallet.
In this case, cold wallets provide the greatest reliability. These are special hardware devices designed to store cryptocurrencies offline. This is the safest way to store cryptocurrency. The most popular wallets of this type include Trezor, Ledger and others.
Can you buy IOTA?
IOTA is a very popular project, so now you can buy MIOTA on almost any popular exchange.
Is IOTA a good long term investment?
Yes, invest in IOTA in New Zealand can bring good results. This is a unique project that has good prospects for development and growth.
Where can I buy IOTA?
How do I buy IOTA with a credit card?
Unfortunately, not all cryptocurrency exchanges work with fiat money. Therefore, if you want to trade IOTA (make money on short-term changes in the value of an asset), then you better use the services of brokerage companies.
You are unlikely to succeed directly with NZD invest in IOTA in New Zealand.
How to buy IOTA in New Zealand?
To buy IOTA in New Zealand, you should use the services of exchanges.
You can also buy IOTA in New Zealand through a brokerage company. In this case, you will be trading CFDs on MIOTA.
What happened with IOTA (MIOTA) and why did IOTA (MIOTA) drop?
At one time, MIOTA was among the top 5 cryptocurrencies, but after the discovery of a vulnerability in terms of total capitalization, the token dropped from 4th place to 25th in 2017.
In 2019 and 2020, the project was subjected to a hacker attack, as a result of which more than $10 million worth of coins were stolen from wallets.
Why did IOTA (MIOTA) rise?
The recovery of MIOTA in 2021 was facilitated by the general recovery of the cryptocurrency market. The market moved in a bullish trend and MIOTA followed the market. Also, the recovery of the token was facilitated by positive news about the development of the project (the launch of the beta version of the new wallet and the general update of the network).