If you are considering investing in the IOTA (MIOTA) cryptocurrency, it is worth exploring more information about this project. IOTA is an innovative cryptocurrency that focuses on Internet of Things (IoT) technology. Here’s a look at what IoT is, the function of the IOTA project, and how you can purchase a MIOTA token.
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What is worth knowing about IOTA?
IOTA is a cryptocurrency that was designed to support IoT (Internet of Thing) technology.
What is IoT? In a nutshell, it is a term used to describe electronic devices that are able to communicate with each other via the Internet. We are talking about both specialized devices used in industry and ordinary electronic and household appliances used in every household. By connecting to the Internet, it is possible to manage resources more efficiently and automate certain processes.
IoT is a concept that finds applications in industry, city management and household appliance management. An example of the use of IoT is the design of so-called smart-homes, in which various devices (such as temperature or light) can be controlled remotely using a smartphone or sensors.
A slightly more sophisticated example is the construction of smart power grids, which will be able to communicate with each other to optimize energy consumption, or the construction of analytical systems in production halls, which can help improve production efficiency.
The problem facing the IoT industry is the ability to perform transactions between equipment. The answer to this problem is the IOTA project along with the MIOTA cryptocurrency.
So what is IOTA? It represents an open-sourced project to make machine communication more efficient. The basic idea is to increase security and fluidity when transferring data between devices (including data acting as transactions).
It is worth noting that IOTA is not a blockchain network – instead of a traditional blockchain, we are dealing with Tangle architecture. This is a solution that allows multiple transactions without fees and without digging (which is a characteristic of many cryptocurrencies).
The lack of transaction fees makes IOTA an attractive solution for processing micropayments. The solution offers commission-free transactions that also have low risk in terms of data manipulation and high scalability. IOTA is a solution that uses various technological solutions to ensure an adequate level of security (among them are MAM – Masked Authenticated Messaging, which is used for private communication between devices and the cloud, and various advanced cryptographic methods that make it possible to connect the world of IoT and finance in a secure way).
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All in all, IOTA is a tangible step toward a modern industrial revolution that will feature solutions involving automated financial settlements between individual machines and between machines and people.
Many people are asking the question “IOTA where to buy“. To answer this question, below we present how to buy MIOTA cryptocurrency on selected cryptocurrency exchanges.
How to buy IOTA (MIOTA) on the Bybit exchange?
IOTA cryptocurrency is not offered on the Bybit exchange at the time of writing this article.
However, it is worth keeping an eye on what new tokens appear on the spot market, which is available on the bybit.com platform, as every now and then the platform releases new cryptocurrency pairs.
How to buy IOTA (MIOTA) on the OKX exchange?
You can buy IOTA cryptocurrency on the OKX exchange. It is a popular and relatively intuitive platform that is friendly to beginners. The interface on OKX is not only intuitive, but what is also important is available in Polish.
Buying cryptocurrency on this platform should start with registering an account. To do this, you need to click the button located on the right side of the screen “Register”. Then we are redirected to a standard registration form, where you need to provide relevant data. Among others, an email address and a phone number. It is important to provide the correct data, because the phone number provided is used to perform verification via SMS. After successfully creating an account, it is still necessary to go through KYC identity verification, which is performed with a valid identity document.
After successfully registering an account, you need to select “Buy cryptocurrency” from the top menu and then choose a convenient payment method. The most common option is probably the option to make a deposit using a credit card (Visa and MasterCard, among others). Besides, payment can be made through various payment intermediaries (including MoonPay, Simplex, Coinify, Banxa and Itez). Alternatively, it is still possible to conclude transactions on the P2P platform, which operates within the OKX ecosystem.
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For example, when choosing to buy cryptocurrency with a credit card, you may not be able to purchase IOTA (MIOTA) directly for PLN. In such a case, you should first buy some other popular cryptocurrency, such as USDT, in order to later make an exchange on the spot market. Here it is worth knowing that on the spot market, available on OKX, the IOTA cryptocurrency is listed in pairs only with USDT and BTC.
What are the other ways to buy IOTA (MIOTA) cryptocurrency?
Where to buy IOTA, other than the exchanges mentioned above? One solution is cryptocurrency exchanges and bitcoins. Of course, first you need to find out if a particular operator offers the possibility of buying IOTA.
Where to hold IOTA cryptocurrency after purchase?
A commonly recommended way to store cryptocurrencies are so-called cold wallets. Which means devices that act as cryptocurrency wallets and do not need a permanent connection to the Internet to operate (examples include Trezor and Ledger, among others).
In addition to using blockchain-based wallets, some people hold their cryptocurrencies on exchanges. However, it is worth remembering that exchanges are primarily used for exchanging cryptocurrencies and trading funds. In contrast, they are not recommended for long-term storage of savings.
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