IOTA became a trending cryptocurrency in a very short period of time. IOTA is nothing but the revolutionary new CryptoCurrency built on Tangle (read: Whitepaper). A blockless distributed ledger which is scalable, lightweight and for the first time ever makes it possible to transfer value without any fees.
You can buy IOTA, like other cryptocurrencies by using something called a Crypto Exchange. Please click below for guide on how to buy IOTA on the exchange you wish. In this article, we will show you how to buy IOTA in the USA using Binance Crypto trading website.
Head over to registration page for Binance
. Enter your details. When you click register you will then need to verify your email. Checkout IOTA Buying guide
which is published earlier today.
Once you have verified your email address and once you log back, Hover your mouse over the Funds link in the navigation bar across the top of the page. It should then reveal a drop down menu. Click Deposits Withdrawls
You will see a lot of cryptocurrencies on this page. Find bitcoin BTC and click the Deposit link at the end. This will then slide down and reveal your receiving address
Now we need to send some Bitcoins to Binance so we can trade them in like we did for the Bitfinex steps above. So sign up to a CryptoCurrency Wallet Provider, Again I recommend Coinbase
and purchase your Bitcoins using what ever currency you wish.
Again, from our Coinbase
account that we have just created and bought our bitcoins with we will need to send them to the address that you generated on Binance. You do this by going to Accounts
and then clicking the Send
button under the wallet of the currency you purchased.
After you click Send, a dialogue window will pop up and this will ask you to enter an address to send bitcoin to. This is the address that we got from Binance when you clicked deposit. This dialogue is also where you will be able to enter the amount of bitcoin you want to send to buy IOTA with.
Note: Sending to Binance may take a few hours. So not panic if it is not instant. It could take 12 hours. Especially with all this BTC Folk stuff going on.
Once your bitcoin has been received by Binance hover over the Exchange link at the top left of the page next to the Binance logo. This will show you a drop down menu. Click Basic
Find and click your trading pair in the right hand column. Because we are wanting to buy IOTA with bitcoin we are looking for IOTA/BTC. Obviously if you sent Etherum over instead you would be looking for IOTA/ETH.
You will now be able to see the buying form. Fill this out with the amount of IOTA you want to buy and then click the Buy IOTA button.
All Done. That might take some time to go through. Even though IOTA is fast it is the exchange that you are dealing with.
Date of Launch: June 11, 2016.
Coin Supply: 2,779,530,283,277,761
No blockchain. Uses Tangle Technology.
Uses SHA-3 in Proof of Work (POW)
So what makes IOTA special? It solves the three main problems that are associated with cryptocurrency ecosystem, i.e., scalability, offline transaction and transaction costs. Let’s learn about the tech behind IOTA.
IOTA in News (Partnerships)
IOTA is all over the news. Its price has surged 600% this month, making it a lucrative option for investment.
The latest partnership with Microsoft has started a bull run for IOTA as more and more people have started investing in it. It is not the first time those big companies are partnering with IOTA. You can find the whole list of IOTA partners here.
IOTA: Top 3 by the end of 2018?
The ICO for IOTA started in 2015. It started small but gained a lot of traction when it got listed by Bitfinex. Right now, it stands at 5th position on coinmarketcap. It shows immense promise as it solves significant problems such as transaction fees, offline mode, and scalability.
There will never be a fork, unlike other cryptocurrencies. Instead, the more nodes the network joins, the better the network will become. It will become faster, more secure and scalable.
Considering the market cap and the growth that IOTA is showing right now, it will grow more in the upcoming weeks or even months. Breaking top 3 by the end of 2018 is a different story. It can reach 4th position, but it is hard for it to beat BCH for now.