Cryptocurrency

How to Buy IOTA (IOT) on Crypto.com Exchange Trading App

Pinterest LinkedIn Tumblr
Advertiser Disclosure

This article may contain references to products or services from one or more of our advertisers or partners. We may receive compensation when you click on links to those products or services. Nonetheless, our opinions are our own.


What is IOTA?

IOTA sounds small, but its ambitions are huge. The Internet of Things(IoT)—a term encompassing all internet-connected devices—transacts massive amounts of data and resources every day, and this blockchain-alternative project aims to make machine-to-machine transactions into their own economy, trading data and resources between themselves.

Ultimately, they hope to become “The Ledger of Everything,” creating a currency used between smart technologies. Your solar panels could sell excess energy to your neighbor; your phone could gather weather data and sell it to meteorological computers–the possibilities are almost infinite.

How does IOTA work?

You’re probably used to hearing about cryptocurrencies and blockchains as almost the same thing. IOTA, however, does not operate using a blockchain. Instead, the developers created a platform called the Tangle, which requires participants in the network to validate two previous transactions for every transaction that they want to execute.

When you make a bitcoin transaction you are charged a fee, which incentivizes others to spend computing power validating your transaction. However, if you send a coin on the Tangle the only fee is that your device has to donate some computing power to the network. This means that devices making nanopayments at computer-speed won’t constantly be paying fees, and that the speed of the network will grow with its size—both vital considerations for an IoT application.

As the technology is still in development, there are a few kinks. Eventually, it will be a decentralized network, but for now, there is a centralized “coordinator” that ensures nobody can take over and exploit the currency. This is probably good, as MIT’s cryptocurrency lab found a security flaw in the cryptography in August 2017. It was quickly corrected but raised some doubts.

How to buy IOTA at a legit cryptocurrency exchange?

The most popular and well-respected cryptocurrency exchanges are Coinbase, Binance, and Crypto. They have been in the industry since the inception of crypto. To buy the crypto you are looking for, simply register for any of the cryptocurrency marketplaces below and claim the bonus sign-up offer as well.

Claim $10 Coinbase Sign-up Bonus

Claim Binance Sign-up Bonus

Claim $50 Crypto Sign-up Bonus



Best no-fee crypto app for free mobile trading?

Kraken is a commission-free cryptocurrency exchange trading platform for users around the world. The platform supports well over 50+ cryptocurrencies and continues to add to their robust crypto portfolio.

Recent major developments

Despite possible concerns, major companies involved in the IoT sector have recently made large (up to seven figures) investments. Microsoft, Cisco Systems, Samsung ARTIK, Volkswagen, Fujitsu, and Bosch are all partners. Bosch have even officially bought significant amounts of the currency.

Fun fact

The developers intentionally chose a name that implies multiple things, but gave no official definition. Therefore, it can be read as “Internet of Things Application” (their goal), “very small amount” (referring to their small transaction sizes), “lightweight,” or even “Internet of Things Apocalypse” (in the sense that “apocalypse” in Greek means “an uncovering of knowledge”).


Reviewed and edited by Albert Fang.

See a typo or want to suggest an edit/revision to the content? Use the comment form below for feedback.

At FangWallet, we value editorial integrity and open collaboration in curating quality content for readers to enjoy. Much appreciated for the assist.


Did you like our article and find it insightful? We encourage sharing the article link with family and friends to benefit as well - better yet, sharing on social media. Thank you for the support! 🍉

Article Title: How to Buy IOTA (IOT) on Crypto.com Exchange Trading App

https://fangwallet.com/2018/01/13/what-is-iota-miota-coin-for-dummies-beginners-guide/


The FangWallet Promise

FangWallet is an editorially independent resource - founded on breaking down challenging financial concepts for anyone to understand since 2014. While we adhere to editorial integrity, note that this post may contain references to products from our partners.

The FangWallet promise is always to have your best interest in mind and be transparent and honest about the financial picture.



Become an Insider

budget planner template printable

Subscribe to get a free daily budget planner printable to help get your money on track!

Make passive money the right way. No spam.





Editorial Disclaimer: The editorial content on this page is not provided by any of the companies mentioned. The opinions expressed here are the author's alone.

The content of this website is for informational purposes only and does not represent investment advice, or an offer or solicitation to buy or sell any security, investment, or product. Investors are encouraged to do their own due diligence, and, if necessary, consult professional advising before making any investment decisions. Investing involves a high degree of risk, and financial losses may occur including the potential loss of principal.


Write for Us


Albert is an entrepreneur, content strategist, and UCLA Bruin. Professionally, he has spearheaded business strategy efforts at SoFi, Houzz, and AKQA. In his free time, he enjoys sharing his personal finance/FIRE journey on his personal finance blog and offering enriching, minimalistic financial guidance.

Write A Comment

Pin It