Where & How to Buy IOTA (MIOTA) in 2023

You currently have built up a fundamental comprehension of investment methodologies. We should now discover how you can approach putting capital into IOTA and different currencies. 

Step 1: Find an Appropriate Platform to Buy Iota

Since you understand what sort of financial investor you want to become, you have to recognise a crypto exchange or a broker that will address your needs in the most ideal manner. What you have to do is assess the ease of use, cost and fee structure, client support, accessible payment modes and online reviews to see if the platform you are inclining towards offers the blend of features you are keen on. 

Ensure you go through the review websites and social media accounts to check all the reviews to verify the standing of your favoured exchange or broker. 

Some of the top platforms incorporate Binance, Coinbase and Kraken while if you are searching for a broker, eToro and Plus500 are two of the main brokerage sites you can trust. 

Step 2: Registration/Create a New Account 

Once you have selected your broker or exchange, you have to join it to sign up by providing basic data, for example, name, number, email and password. It is suggested that you go with a broker or exchange that complies with regulations. 

They will validate your own identity through legitimate documentation which might feel inconvenient yet they will end up being more secure and safer when it comes to your personal and monetary data alongside your IOTA tokens. 

You can generally discover unregulated crypto services on the web if you lean toward staying anonymous above everything else except they can be very risky as they are not limited by any laws.

Step 3: Deposit Funds 

Whenever you are finished setting up your account, you can start trading after depositing your capital. You can browse the platform website to discover numerous payment methods available to the users including credit and debit cards, bank transfers, and other e-payment modes. Ensure that you pick the one that offers the correct combination of convenience and affordability. 

Additionally, remember that numerous platforms have a base deposit limit which implies that you need to store a minimum specific total before you can start investing. For instance, Skilling's base deposit ask is $100 while Pepperstone doesn't request any minimum whatsoever. 

Step 4: Start Trading or Buying IOTA 

Short term investors will purchase instruments like CFDs of IOTA on a brokerage site while long haul traders will buy and own IOTA tokens so they can hold them however long they need. When you are a trader who just wants a second income, you need to go with a broker since it's simple and more affordable to purchase and sell instruments as you don't need to manage all the challenges and complexities related to owning IOTA tokens, for instance, wallets.

There are a few platforms like eToro that act as both a crypto exchange and brokerage. This means you can engage in a wide range of investment activities and trade IOTA from a single platform

Step 5: Optional Steps 

After you have bought IOTA tokens, there are several alternatives accessible to you. Some are referenced below: 

• Move resources to a wallet: 

Short term investors don't have to manage this, however, in case you're a long-term investor, you should find a dedicated software or hardware wallet to store your IOTA coins safely. 

• Participate in mining: 

Although you cannot technically mine IOTA, you can donate IOTA tokens to the community if you believe in the cause. 

• Sell high, rebuy low: 

The best technique to go with is purchasing low and selling high which is quite difficult. You'll have to watch out for the price development. Don't venture when the cost is bullish and is experiencing a hype or a surge. Let the price correct itself and when it descends, it's your chance to jump. Continuously manage your risk by diversifying your portfolio. 

Available Payment Methods for Buying IOTA 

There are numerous payment methods open to a wide range of traders offered by a variety of crypto traders and dealers. The main payment strategies are mentioned underneath: 

• Buy IOTA with Cash 

If you need to purchase IOTA with fiat money or cash, you have to locate the nearest IOTA teller or ATM. You can use the CoinATMRadar.com site to find the area of the nearest ATM for purchasing IOTA coins. 

• Buy IOTA with Credit/Debit Card 

You also have the alternative to depend on your bank card, for example, your debit or credit card, as pretty much every crypto broker and exchange offers that choice including Coinmama, eToro, Binance and Coinbase. 

• Buy IOTA with Bank Transfer 

For purchasing IOTA tokens with bank transfer, you first need to see if your exchange or broker offers the payment mode in your nation. Exchanges like Coinmama have wide coverage. 

• Buy IOTA with Cryptocurrency 

When you own Bitcoin or other cryptocurrencies like Monero, Ethereum, Dash, Ripple or Chainlink, you can trade it for IOTA tokens.

• Buy IOTA with PayPal 

While a wide range of traders couldn't want anything more than to have PayPal as a payment mode for purchasing IOTA, right now, it hasn't been made accessible in many countries except the US on account of regulatory consistency issues. However, this may change in the future as cryptocurrency becomes more widely adopted.

What Are the Fees for Buying IOTA?

That relies upon where you live, what platform and instalment mode you pick, and the amount of IOTA token you will purchase. Bank transfers are very reasonable with charges being under 2% while credit or debit card payments can set you back up to 7-8% of the order sum. Ensure that you know your charges and costs identified with depositing, withdrawing, and trading/investing so you can amplify your profits as a trader. 

The best time is the point at which the cost of IOTA coin cannot go any lower. Watching out for price outlines, how it moves, and understanding news and articles can assist you with building up a sharp eye for distinguishing the moment where putting up your money to buy IOTA tokens can be exceptionally beneficial. 

What Drives the Coin's Price?

As IOTA is a decentralised network, it doesn't have any central association or authority that has an impact on its price. The main element that dictates the price of IOTA is the supply and demand factor which can be affected by many market influences including assessments of crypto critics, political turns of events, new regulations, and new advancements. 

How to Sell IOTA 

When you know that the price can't go any higher, you can sell your IOTA tokens to realise your profits. There are more than one ways to do such: 

• Cryptocurrency Exchange – For long IOTA traders who own tokens, they should depend on a cryptocurrency exchange to sell their coins. You can go back to the same exchange from where you purchased the tokens.

• Trading/Broker Websites – For short-haul speculators or everyday traders who simply have the CFDs or other instruments, they can sell them on their favoured brokerage site. 

• Peer-to-Peer (P2P) Network – Those traders or investors who own IOTA tokens but don't have any desire to sell their coins on an exchange can use P2P networks which are impartial marketplaces that bring together crypto sellers and buyers. You can set and specify your terms on a P2P network.