Buying cryptocurrencies can seem daunting at first, especially for those who are new to the world of digital assets. However, with the right knowledge and tools, buying IOTA is a very straightforward process that includes choosing a crypto exchange, creating an account, verifying it, adding funds, and making a purchase.
Some popular platforms for buying IOTA include KuCoin, Binance, CoinEx, OKX, gate.io and MEXC. It's important to do research and compare fees, security features, and supported currencies before choosing an exchange, as there are considerable differences between each one. In addition, you should be mindful of your investment approach, crypto storage, and other aspects of buying and trading IOTA.
How to Buy IOTA in 6 Steps
In this article, we will provide a step-by-step guide on how to buy IOTA, including choosing an exchange platform, creating an account, making a purchase, storing crypto, and lastly, keeping track of your crypto investment. With this information, you’ll be armed with the knowledge and confidence required to start investing in IOTA.
- Decide where to buy IOTA
- Set your investment budget
- Research your IOTA investment
- Place IOTA buy order
- Where to store your IOTA
- Keep track of your IOTA investment performance
Let's get started!
1. Decide where to buy IOTA
You can buy IOTA on several cryptocurrency exchanges, including KuCoin, Binance, CoinEx, OKX, gate.io and MEXC.
When deciding which exchange to use, it’s important to check if the exchange accepts customers from your country. In addition, some exchanges are more suitable for users that want to buy and hold, while others cater to active crypto traders. It’s also important to check if the exchange offers all the trading features you might need. Some traders just stick to spot markets, while others also use margin trading and futures. The bottom line is that what constitutes the best exchange hinges on your particular set of needs. With that in mind, let’s look at some of the best crypto exchanges in the market.
More places to buy IOTA
- Binance is the world’s largest and most liquid exchange. Binance offers margin trading, crypto futures, NFT features, a competitive fee structure, loan and staking platforms, and more. It also offers competitive fees (with 0.1% for both makers and takers) and a debit crypto card with up to 8% cashback. Keep in mind that Binance is not available to US 🇺🇸 customers.
- CoinEx is a privacy-centric crypto exchange that allows traders to buy crypto without completing lengthy and time-consuming KYC.
- OKX is a trading platform that focuses on crypto futures trading features.
- gate.io is one of the pioneers of cryptocurrency trading, offering services to more than 10 million customers in over 130 countries.
- MEXC is a user-friendly exchange that charges 0% for both spot and futures maker fees.
2. Set your investment budget
When buying IOTA or any other cryptocurrency, you should have a clear plan and a ready-to-execute investing strategy. Otherwise, you risk making emotionally-driven and sudden decisions that could have a detrimental effect on your investing performance. Here are a couple of pointers you should keep in mind when investing in crypto:
How much should you invest?
One of the most important rules each investor should follow is to never invest beyond their means. In other words, never invest more than you can afford to lose. This is doubly true in crypto, as the market can be very volatile and it is not uncommon for digital assets to go on massive price swings.
Let's take a look at how much MIOTA would you get if you invested in IOTA at the current price of $ 0.13182 per MIOTA.
| Investment | Amount of MIOTA |
|---|---|
| $10,000 | 75,861 MIOTA |
| $5,000 | 37,930 MIOTA |
| $2,000 | 15,172 MIOTA |
| $1,000 | 7,586.08 MIOTA |
| $500 | 3,793.04 MIOTA |
| $100 | 758.61 MIOTA |
What’s IOTA price?
IOTA is currently trading at $ 0.13182, down
The price of IOTA decreased by
In addition, IOTA’s current cycle low is $ 0.077481 and was reached on Mar 13, 2020, while its cycle high is $ 2.68 and was hit on Apr 16, 2021. Moreover, MIOTA is changing hands -98% removed from its all-time high of $ 5.54.
Why should you practice portfolio diversification?
You’ve probably heard of the phrase, “never put all your eggs in one basket.” This old saying has a lot of merit, as investing in a single asset carries a substantial amount of risk – if it crashes to zero, you’re left with nothing. Instead, you should try to diversify your investments and put yourself into a position where a single project failing doesn't erase your entire portfolio.
Which investment strategy should you choose?
Novice investors are recommended to use a simple but proven dollar-cost averaging (DCA) investment strategy, which alleviates the stress of when to buy IOTA and how much to spend. You can easily do so with Binance, for instance. More experienced investors can try to time the market or engage in technical analysis to become more proficient at entering and exiting positions.
3. Research your IOTA investment
Before buying IOTA, or any other crypto asset for that matter, there are some general things you should research. Usually, every reputable project has a whitepaper that outlines the project’s goals and provides insight into what the project is aiming to accomplish or what real-world problems it is trying to solve. In addition, you should investigate the team behind the project and search forums and social media for any reports on security concerns.
In addition to the reasons above, which can be classified as fundamentals, you should also pay attention to technical aspects. With that in mind, let’s examine IOTA’s technicals.
Presently, IOTA is changing hands above the 200-day simple moving average (SMA) which is considered a bullish signal. In addition, the price of IOTA is currently above the 50-day SMA, which is a bullish indicator. Meanwhile, the Fear & Greed Index, a popular measure of market sentiment, is 50 (Neutral). All in all, 16 technical analysis indicators signal bullish activity, and 15 signal bearish activity.
According to the technical indicators outlined above, the price of IOTA is predicted to increase by
On a monthly basis, IOTA is expected to gain
| Today's MIOTA Price | $ 0.13182 |
|---|---|
| 5-Day MIOTA Prediction | $ 0.147175 |
| 1-Month MIOTA Prediction | $ 0.183262 |
| 6-Month MIOTA Prediction MIOTA Prediction | Unlock |
| 1-Year MIOTA Prediction MIOTA Prediction | Unlock |
4. Place IOTA buy order
The process of buying IOTA is very similar between various crypto exchanges, so you can follow the steps outlined below whether you’re using KuCoin or virtually any other crypto exchange.
Step 1: Create a free account on a crypto exchange of your choice
Start by registering a free account on one of the leading crypto exchanges – KuCoin, Binance, CoinEx, OKX, gate.io and MEXC are all very solid choices with each of them excelling in their own way (for more information, check the description for each exchange in the “Decide where to buy IOTA” section above).
Keep in mind that you’ll need to provide some personal information, including your name and email address. In order to increase withdrawal limits and unlock additional functionality like crypto loans and staking options, certain exchanges require users to complete KYC as well.
Step 2: Make a deposit or buy IOTA with a credit or debit card
There are several different methods and payment services you can use for funding an exchange account. Pick the option that best suits your needs:
- Deposit crypto: In case you decided to fund your account by depositing crypto, you’ll need to transfer digital assets from a crypto wallet to your exchange account. You can find the address for every supported crypto on the exchange you’re using. KuCoin is arguably the best choice for users depositing crypto due to its ease of use and a wide range of supported blockchain networks. Keep in mind that using the wrong address or sending unsupported crypto can result in a loss of funds.
- In case you decided to do a bank deposit (or wire transfer, as it is often called), you can do it using supported fiat currencies, such as USD, EUR, and GBP. You should check whether the exchange you’re using supports your preferred local currency before doing a bank deposit. Since KuCoin doesn't support bank deposits, we suggest you buy Bitcoin with fiat on Binance (or Kraken for US residents) and then transfer it to KuCoin to trade IOTA.
- Buying IOTA via credit card or debit card is the easiest and arguably the most popular option. Unfortunately, KuCoin, Binance and CoinEx don’t support credit or debit card payment methods. If you still want to use a credit card, we suggest you make a credit card deposit on Binance (or Kraken for US users), buy Bitcoin, and then send it to KuCoin.
Step 3: Go to the trading page and find the relevant crypto trading pair
After funding your exchange account via one of the three options listed in the previous step, go to the trading page and search for the cryptocurrency you want to buy. Depending on the exchange you’re using, there should be multiple trading pairs available (a trading pair refers to two different assets that can be traded against each other; e.g., MIOTA/USDT).
As a rule of thumb, most crypto exchanges support both crypto-to-crypto (e.g., MIOTA/BTC) and crypto-to-fiat (e.g., MIOTA/USD) trading pairs.
Choose the right trading pair – crypto or fiat – depending on the deposit method you’ve chosen.
Step 4: Make a buy order for IOTA
Decide whether to choose Market or Limit order when buying IOTA. Here’s a brief overview of each:
Buying MIOTA by using Market Order: Market orders are used when the investor wants to buy or sell a particular cryptocurrency as quickly as possible without regard to the specific price at which the order is executed.
When placing a market order, the investor does not specify a price, and the order is executed at the best available price at the time it is placed. Market orders are generally executed quickly, as they are considered a high-priority order type. Market orders are best suited for cryptos that have high trading volumes and high liquidity, where the difference in execution price is likely to be minimal.
Buying MIOTA by using Limit Order: The limit order specifies the maximum price at which the investor is willing to buy or the minimum price at which they are willing to sell.
When placing a limit order, the investor specifies the price they are willing to pay or receive for the particular cryptocurrency. The order remains open until the asset reaches the specified price, or until the order is canceled by the investor.
Contrary to market orders, limit orders don’t suffer from a difference in execution price. However, they may not be executed if the specified price is not reached, even if the price moves in the investor's favor. Additionally, limit orders may take longer to execute than market orders, as the order will only be executed at the specified price or better. In some cases, limit orders can lead to missed investment opportunities, especially if the limit is poorly defined by the investor.
5. Where to store IOTA
Cryptocurrency exchanges allow users to store their crypto and, in some cases, even allow them to use yield generating products to earn passive income with deposited crypto. However, storing crypto on an exchange is not recommended, as funds can be lost in the event that the exchange goes bankrupt (FTX is a prominent example of an exchange that went bankrupt after misusing user funds) or is hacked.
The best way to store your crypto securely is by using cryptocurrency wallets. They fall into two categories – software wallets (also called hot wallets or digital wallets), which are connected to the internet and are thus less secure, and crypto hardware wallets (also called cold wallets), which allow investors to store their crypto keys in a secure and offline manner.
Ledger is one of the most secure cryoto hardware wallets for storing cryptocurrencies.
Every crypto hardware wallet comes with a seed phrase, which basically acts as a key that unlocks the wallet and allows users to transfer the contents of their wallets between different devices. Since it's recommended to store the seed phrase in a physical form due to security concerns, it’s best to use metal seed phrase storage solutions to protect the seed phrase from being lost or destroyed.
6. Keep track of your IOTA investment performance
With CoinCodex, you can easily monitor your IOTA investment using a suite of crypto tools designed to make investing accessible and efficient.
Crypto Portfolio
You can add IOTA and any of the more than 20,000 crypto assets tracked by CoinCodex to your crypto portfolio, where you can track the performance of all your cryptocurrencies in one place. You can also easily add, remove, or edit your crypto positions. The crypto portfolio is available on desktop platforms as well as on iOS and Android.
Crypto Alerts
Afraid of missing out on the next price rally or buying the dip? With crypto alerts, you can set price alerts that will automatically notify you when IOTA or any other asset reaches predetermined price limits. Both email and in-app notifications are supported.
Crypto Profit Calculator
Setting realistic expectations for future price growth is paramount when investing. Otherwise, you just end up hoping for the best without a concrete plan or price target in mind. With our crypto profit calculator, you can see how your investment could perform over time, set up different DCA scenarios, and use historical market data to project potential future profits.
How to sell IOTA
Selling IOTA is actually very similar to the process of buying it – you need to decide on whether to use a limit or market order to do so (you can check the difference between the two in the “Place your IOTA order” section above) and select the trading pair you want to use.
Keep in mind that there may be fees associated with selling cryptocurrencies, such as transaction fees and exchange fees. Make sure to check the fee structure of the exchange you choose before selling your cryptocurrency.
After selling crypto you can decide to withdraw fiat from the exchange to your bank account (if you used crypto-to-fiat pair) or withdraw crypto to an external crypto wallet (if you used a crypto-to-crypto pair).
You can also transfer cryptocurrency between exchanges, which can be beneficial if you are looking for additional features or a more competitive fee structure. The process of transferring crypto between Binance and Kucoin, or any other combination of exchanges is very straightforward.
Buying IOTA FAQs
Is IOTA a buy, sell, or hold?
Determining whether now is a good time to buy, sell, or hold IOTA depends mostly on your individual investment strategy. However, a combination of fundamental and technical analysis can help shed some light on what course of action should be taken.
According to our market research, 16 indicators are signaling bullish activity, 15 are signaling bearish activity.
Based on our price prediction algorithm, IOTA’s price could see an increase of
Can you buy a fraction of IOTA?
IOTA, like virtually any other cryptocurrency, can be bought in less than a full unit, meaning that you can buy just a couple of dollars worth of IOTA. Typically, the lowest amount of IOTA you can buy on an exchange is limited to $10. For example, for 10$ you would get 75.86 MIOTA
Is IOTA a good long-term investment?
There are several factors that you should look into that can help you gauge whether IOTA is a good long-term investment, including:
- Fundamentals (team, roadmap, solving a real-world problem)
- Adoption and community (users, developers, and investors participating in its ecosystem)
- Liquidity and stability (a strong track record of security and compliance and being traded on reputable exchanges)
- Technological innovation (a strong technical foundation that sets it apart from competitors and adds value to the ecosystem)
How much money do you need to buy IOTA?
Just a couple of dollars are enough to buy IOTA, with the exact dollar amount depending on the cryptocurrency exchange you want to use. However, the smaller the amount invested, the smaller the potential upside – and by extension, the lower the risk. At the current buy price, investing $1,000 in IOTA would get you 7,586.08 MIOTA.
