How to Buy IOTA Online in 2021

The internet of things (IoT) is playing an ever-increasing role in our daily lives. Since there’s a cryptocurrency associated with almost all forms of technology, you may not be surprised to hear that there is a cryptocurrency specifically crafted to maximize transactions specifically on the internet. 

IOTA is unique compared to other cryptocurrencies. Before buying your first coin, it’s a good idea to do some preliminary research. Luckily, you’ve come to the right place. 

In this guide, we’ll identify where you can buy IOTA and all the key things to consider. You’ll also discover the answers to some frequently asked questions, plus more. 

Best brokers to buy IOTA through in 2021

You can buy IOTA in several different ways. While having so much choice is great, it can also lead to overwhelming options and indecision. 

To make things easier for you, we’ve put together a list of the best providers below:

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
2
Minimum Deposit
$250
Exclusive Promotion
User Score
8.1
Trade the global markets. Trade with real-time execution and professional tools
Follow and copy Naga's top traders who have mastered their trading strategies
Free personal account manager
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Over 4 million customers worldwide
Buy, sell and trade nearly 200 digital assets
Verified within 15 minutes

What is the difference between buying and trading IOTA?

When looking at how to buy IOTA, you’ll likely encounter the term “trading”. On the surface, both seem identical, but that’s not true. Below, you’ll find a quick explanation of their differences:

  • Buying IOTA: You own the coin outright after purchasing
  • Trading IOTA: You use the asset to sell on the market and make a profit

How to buy IOTA online

To buy IOTA online, you’ll need to sign up for a cryptocurrency exchange. Doing so is pretty straightforward. We’ve listed the steps for you to follow below:

  • Find a cryptocurrency exchange and verify your identity
  • Sign up for your exchange of choice
  • Decide on how you want to trade — do you want to go for something short-term, or are you more interested in the long term?
  • Make a purchase

How to trade IOTA

If you choose to trade IOTA instead, you will be buying with the intention of selling in a relatively short period of time. Below, you’ll find the steps you need to follow:

  • Find a broker
  • Deposit money into your account
  • Decide how you want to trade 
  • When the price increases by an amount you are happy with, start selling IOTA for profit.

What are the different ways to pay for IOTA?

Once you’ve chosen a platform to buy or trade IOTA within, you’ll need to select a payment method to fund your account. There are a couple of choices for paying for IOTA, and we’ve listed the best below along with some pros and cons:

Bank Transfer 

Bank transfers are one of the most common ways to pay for IOTA. You can pay for the coin in the same way you’d buy any other good or service online. All you need to do is enter your account number and sort code. 

Pros

  • Easy to use 
  • Accepted on most cryptocurrency platforms 
  • See the funds in your account immediately 

Cons 

  • Sharing your bank details online 

Credit and Debit Cards 

Another popular way to buy IOTA and other cryptocurrencies is with a debit or credit card. To use this method, all you need to do is enter your card details and choose how much you’d like to fund your account with. After that, you’re good to go. 

Pros 

  • Widely accepted at cryptocurrency exchanges and brokers 
  • Secure payments 
  • Transactions usually don’t take long 

Cons

  • Sharing your card details online 
  • Credit and debit card payments at crypto exchanges often have associated fees 

Digital Wallets 

If you want to separate your cryptocurrency budget from your bank account, you might want to consider using a digital wallet like Skrill or PayPal. With these, transferring money to your crypto account is just as straightforward as the two solutions mentioned above.

Pros

  • Easy sign-up 
  • Keep your funds separate from your main account 
  • Instant transactions 

Cons

  • Many brokers accept digital wallets, but not many exchanges do 

What to consider when buying IOTA

When buying IOTA, there are a few things you need to keep in mind compared to other cryptocurrencies. To help you make better buying decisions, we’ve listed the main factors to think about below:

  • Coin Availability: IOTA is a relatively new coin and isn’t as famous as coins like Bitcoin and Ethereum. While several exchanges will let you buy the currency, you might need to dig a little deeper than you normally would. 
  • Volatility: It’s important to remember that all cryptocurrency markets are prone to considerable fluctuations in short time periods and IOTA is no different.
  • Fees: When buying and selling IOTA, the platform you use might impose trading fees. Keep these in mind and do your research to ensure you get the best deal. 
  • Security: IOTA is built on robust technology that has won the EU’s seal of approval. You shouldn’t need to worry about security breaches to its system, though flaws have been detected in the past. 
  • Long-term Holding (HODL): HODL, or hold on for dear life, refers to not selling your coins even when it’s tempting to do so. IOTA is more of a long-term investment, so this is a strategy you might want to consider. 
1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Is it safe to buy IOTA online?

If you buy IOTA from a reputable exchange, you shouldn’t have any safety issues. However, security breaches can and do happen so be sure to protect yourself with extra layers of caution. For example, you can: 

  • Store your coins in a wallet
  • Enable two-factor authentication (2FA) and use secure passwords 
  • Pass only the necessary know-your-customer (KYC) checks
  • Do not give anyone access to your accounts
  • Do not trust information that looks sketchy

How to store IOTA

We recommend that you store IOTA in a wallet after purchasing. If you don’t and a security breach occurs on the platform you use, you could lose your coins forever. Below is a quick overview of the different cryptocurrency wallet types you can use:

  • Cold Wallet: These wallets are offline and can either be on hardware or a piece of paper with a code written on it. Cold wallets are the safest version of wallet you can use, but you need to remember their sign-in details. 
  • Online Wallet: Several online IOTA wallets exist. You can use these to access your coins from anywhere, but you will need to verify your identity when you sign in. 

How to sell IOTA

When you’re ready to sell IOTA, you can do so using various methods. To help you pick the best choice, we’ve listed the main options below:

Cryptocurrency Exchanges 

If you bought IOTA, cryptocurrency exchanges are the easiest way to sell your coins. You’ll typically make a selling order — some platforms have a broader range of options than others. If you’re more advanced with selling cryptocurrencies, we recommend picking a platform that allows you to further customize your sales. 

After selling IOTA, you can either buy something else or withdraw the funds to your bank account. 

Pros 

  • Easy to sell IOTA coins 
  • Transactions are secure 
  • Many exchanges will give you various options to customize your orders

Cons

  • Can be difficult for beginners to learn 
  • Often need to pay a trading fee
  • Market rates may vary 

CFD Traders 

If you choose to buy IOTA assets instead of the coin outright, you might want to consider a CFD trader. Like cryptocurrency exchanges, selling via these platforms is a simple process. In fact, we recommend that beginners sell IOTA via a broker before moving onto exchanges. 

Pros

  • More accessible for beginners to learn than exchanges 
  • Execute sales quickly 
  • Customize your selling orders on most platforms 

Cons 

  • Regularly selling on CFD platforms requires more attention than exchanges 
  • Increased losses if you use leverage (though this might also have the opposite effect)

Decentralized Exchanges 

Decentralized exchanges allow you to buy or sell cryptocurrencies with other users without a middleman. However, at this current time, IOTA is not available on such platforms. If you do come across IOTA on a decentralized exchange, beware that it may be a fake token set up by a scammer. As such, it’s best to stick to popular brokers and exchanges outlined above.

Is it worth buying IOTA right now?

IOTA was built on robust technology and wants to become the top way to transact money across the internet. Its price is still pretty low at the time of writing in October 2021, and it looks poised for a positive future. 

If you’re looking to invest for the long-term, you might want to consider purchasing. 

Conclusion

IOTA is still in its early days. As the coin becomes more prominent and the cryptocurrency market matures, more platforms and payment methods will emerge to give you additional buying options. 

For now, we recommend using a cryptocurrency exchange and funding your account via bank transfer. Doing so will give you the best combination of flexibility, security, and convenience.  

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
2
Minimum Deposit
$250
Exclusive Promotion
User Score
8.1
Trade the global markets. Trade with real-time execution and professional tools
Follow and copy Naga's top traders who have mastered their trading strategies
Free personal account manager
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Over 4 million customers worldwide
Buy, sell and trade nearly 200 digital assets
Verified within 15 minutes

FAQs

Can I buy IOTA in any country?
You can buy IOTA as long as your country hasn’t banned cryptocurrencies. Check your local laws to confirm your options. 

Is there a limit to how many IOTA coins I can buy?
Your IOTA coin buying limits will depend on the platform you use. Before signing up, check to make sure these limits align with your needs. 

Can I buy IOTA without an ID?
At this current time, IOTA is not available on decentralized exchanges through official means. However, if it does get added then it may become possible to buy IOTA without an ID.

Can I buy IOTA instantly?
Yes, you can buy IOTA as soon as you’ve funded your exchange account with funds. 

What is IOTA?
IOTA’s technology aims to optimize transactions and scalability around the IoT, especially with robots and similar machines becoming more important. MIOTA is the ticker used by most exchanges. 

How does IOTA work?
Unlike other cryptocurrencies, IOTA doesn’t use blockchain technology. Instead, it uses Tangle data structuring. In practice, the MIOTA currency works the same as any other cryptocurrencies – you use it to exchange value for something else.