How to Buy IOTA: The price of IOTA keeps increasing every day and their projects look promising one. It already attracted investors attention and people who can’t afford to purchase bitcoin are investing in IOTA coins. According to the IOTA, In the future, the machine may send a signal to a supply depot, which will dispatch a self-driving truck full of drinks to go and restock it, all without human intervention.
And that’s where IOTA comes in. The vending machine will automatically pay the robot depot and self-driving truck to fill it up, and will make that payment in IOTA coin. Plus, when beach season is over, the machine will hire another truck to take it to a different location where it can continue selling drinks. All of these transactions will take place without any human input, and the currency will be IOTA.
How to Buy IOTA? Step-by-Step Guide
Run a full malware check on your computer and, ideally, use a VPN to connect to the internet. You can skip this, but it’s good security.
2. Download the IOTA wallet here. If you’re using a Windows computer, choose the file that ends in .exe:
3. Install the wallet (the “light” wallet) and choose a server.
4. On the next screen, create a seed. This is a string of 81 uppercase letters and the number 9, which will serve as your password (there is no username). Before you click “login”, save the seed; if you lose it, you lose your IOTA.
I saved the seed by putting it in a Word document and then encrypting and password-protecting the document and putting it on encrypted cloud storage. I also printed it out and put it in a fireproof safe. If your IOTA is ever worth more than a few thousand dollars, I’d suggest even stronger security measures.
5. Go to Binance, create an account, and turn on two-factor authentication (you’ll need it later). For this, you’ll have to go through the PITA of downloading an authentication app to your phone, like Authy. The app will have its own code, which you’ll also have to save securely.
6. Go to your source for Bitcoin or Ether, and buy the amount of either that you want to exchange for IOTA coin (I’d go with Ether).
7. Go back to Binance, and go to “funds” —> “deposits withdrawals”:
8. Find Ethereum on the next screen, and, using the wallet address that Binance will give you, order a transfer of Ethereum into Binance.
9. Wait about 10 minutes for the transfer to go through.
10. On Binance, go to “exchange” —> “basic”:
11. Then, off to the right, click on “ETH” (if you’re exchanging Ether for IOTA), and then on IOTA/ETH:
12. On the bottom, click 100% to try to use all of your Ether to buy IOTA.
13. Click “buy IOTA”. This will place a limit order on Binance.
14. Check under “orders” to make sure the IOTA buy order executed. If it did not, wait for it to do or cancel it and place a new order.
15. Once the IOTA buy order executes, go back to “funds” —> “deposits withdrawals”. You should now see the IOTA in your account.
16. Go back to the IOTA wallet program (app) and login with your seed.
17. Click on “receive”. A wallet address will show up, together with a button saying “attach to tangle”.
18. Attaching to the tangle is apparently optional, but I do it because it sounds cool.
19. Anyways, copy the address (which can change each time you do this operation), and go back to Binance.
20. Order Binance to withdraw your IOTA cryptocurrency by sending it to your wallet address.
21. Wait about half an hour (or more) for it to get there.
If you have any questions regarding buying IOTA online, feel free to comment or contact us using the chat box in the left side bottom of this page.