How to Buy IOTA (MIOTA) in the UK in 2024 – Guide

Updated October 28, 2024

All products and services featured are independently selected by WikiJob. When you register or purchase through links on this page, we may earn a commission.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take two mins to learn more.

Where to Buy and Sell IOTA in the UK – Top 4 List October 2024:
What Is IOTA (MIOTA)?
Is Buying IOTA a Good Investment in 2024?
How to Buy IOTA (MIOTA) in the UK in 2024: Step By Step Guide
How to Sell IOTA?
What Are the Best Ways to Sell and Buy IOTA?
empty
empty
empty
IOTA Price Prediction
empty
empty
Frequently Asked Questions
Final Thoughts

Where to Buy and Sell IOTA in the UK – Top 4 List October 2024:

The best place to buy IOTA in the UK, the cryptocurrency that powers the Internet of Things, is through reputable cryptocurrency brokers like:

These platforms offer user-friendly interfaces, secure transactions, and a variety of payment options to make buying IOTA in the UK easy and accessible to both beginners and experienced traders. Always ensure you conduct thorough research and follow best practices for wallet security when investing in cryptocurrencies.

What Is IOTA (MIOTA)?

IOTA is a system designed to monitor and record transactions over the Internet of Things (IOT).

The IOT is often mistaken for the Internet, which is the interconnection of computer networks globally.

To avoid confusion, the best way to consider the IOT is as the physical objects integrated into the software and technology used for connection with other systems over the Internet.

IOTA monitors these transactions. In this sense, IOTA is a ledger that records the distribution of data over the IOT.

It is also open-source software, meaning that users have the right to use, change and improve the system itself. In this regard, IOTA is improved and monitored by its users, giving them control over how it is run as a distribution ledger.

IOTA was developed in 2015 and went live shortly after.

Since its inception, it has grown to become a foundation, and its partnership with the Association for Trusted Blockchain Applications (INATBA) has seen the program's technology used to improve the IOT's trading functions.

The market value of IOTA has considerably increased since it was launched in 2016.

It is not just a popular stock, however; rather, it has an intrinsic value in how we trade and distribute the information of software over the Internet.

IOTA's design has been criticized because of its complexity and if it can be actualized in practice.

There have been numerous updates to marry the technology used within IOTA with industry standards following these criticisms.

Today, IOTA technology allows seamless transactions with little resources needed. In other words, users can transfer what they want over the IOT without the limitations of cost and time associated with blockchain alternatives.

Suppose you need to quickly distribute data of some form to another network. In that case, IOTA makes this process quick and scalable.

As it becomes necessary to distribute more data quickly over a global reach, IOTA has proven to be an essential technology.

This article will discuss how you can invest in IOTA and why the investment is worthwhile.

Furthermore, how you can buy IOTA will be broken down, along with key points to consider and why this exciting new technology could be the best alternative to blockchain technologies.

Is Buying IOTA a Good Investment in 2024?

Although it is relatively young, IOTA has proven to be one of the more exciting investment opportunities available.

Financially, IOTA is set to be profitable. There is an expected rise in the price of shares over the next few years.

More people will opt to use the technology instead of blockchain alternatives as IOTA becomes a more accessible technology globally since its adoption of industry standards.

Analysts have predicted that the price of a share in IOTA could rise to $5.63 in the next five years. With these statistics in mind, it is worth contemplating the option to buy IOTA now for future profit.

In comparison to other blockchain cryptocurrencies, such as Bitcoin and Ethereum, IOTA is not as secure at this moment. This is because the currencies of these two networks have been tried and tested, and time of use has improved the technology to make them more hacker resistant.

You should not be deterred from IOTA, however, as its weaknesses in code structure are already being addressed. It can be expected that it will become more user-friendly in the next few years, therefore.

As IOTA becomes more popular, so does its technological usage. Furthermore, IOTA has much greater scalability than Bitcoin and Ethereum, meaning its use may last well into the future.

Unlike other blockchain alternatives, IOTA has zero-free transactions. This means that if you transact $10,000, the other side of the transaction will receive $10,000.

With the trade of substantial amounts of money in IOTA, this is a very beneficial trait.

Large corporations like IBM have demonstrated their support for this new technology.

As the stock market price of IOTA increases, it is predicted that other large corporations will consider it a viable blockchain alternative.

It is not just its profitability that makes IOTA an attractive prospect – its transfer of data through smart devices is innovative. IOTA is being formulated to operate on smartwatches and other forms of portable technology.

The monetization of the data stored on these devices can prove to be the next breakthrough in how corporations use data.

Furthermore, its use in Tangle, an acyclic graph that facilitates data and money transactions, gives those involved in technology a viable alternative to what currencies such as bitcoin use.

As this improves and becomes more compatible over time, more technologies such as IOTA will likely develop.

How to Buy IOTA (MIOTA) in the UK in 2024: Step By Step Guide

Step 1. Find the Best Place to Buy IOTA in the UK

There are several exchanges that support IOTA, but it's important to choose a reputable and trustworthy one to buy IOTA from.

Some popular options include:

Binance
Bitfinex
Huobi

You can research these exchanges to find one that suits your needs before buying IOTA, taking into account factors such as fees, user interface, security and customer support.

Step 2. Create an Account on the Exchange

Once you've chosen an exchange, you'll need to create an account before you are able to buy IOTA.

This will typically involve providing your personal information, such as:

Your name
Email address
Proof of identity

The exchange will then verify your identity before you can start trading.

Step 3. Fund Your Exchange Account

Next, you'll need to fund your exchange account with either cryptocurrency or fiat currency.

Most exchanges accept popular cryptocurrencies like bitcoin and Ethereum, as well as bank transfers, credit cards and other payment methods.

You'll need to follow the instructions on the exchange's website to deposit funds into your account.

Step 4. Find the IOTA Trading Pair on the Exchange

Once your account is funded, you'll need to find the IOTA trading pair on the exchange.

This will usually be listed as MIOTA (mega IOTA) or IOTA.

You'll need to select the trading pair that matches the currency you want to buy IOTA with.

Step 5. Place an Order to Buy IOTA

Once you've found the IOTA trading pair, you'll need to place an order to buy IOTA.

This will involve specifying the amount of IOTA you want to buy and the price you're willing to pay.

You can choose between a market order (which will execute immediately at the current market price) or a limit order (which will only execute if the price reaches your specified limit).

Step 6. Confirm Your Trade

Before confirming your trade, double-check the details to ensure that everything is correct.

Once you're satisfied, confirm the trade and wait for it to be executed.

Depending on the exchange and the volume of trades, this could take anywhere from a few seconds to several minutes.

Step 7. Use a Secure IOTA Wallet

Once your trade is complete, your IOTA will be deposited into your exchange wallet.

However, if you plan on holding your IOTA for an extended period, it's recommended that you transfer it to a secure wallet to which you control the private keys.

The best IOTA wallet is one that prioritizes security, usability, and compatibility with the IOTA network. Trinity Wallet, developed by the IOTA Foundation, is often recommended for its user-friendly interface and robust security features. It supports various platforms, including desktop and mobile, making it accessible to a wide range of users.

Remember to download wallets only from official sources to ensure your IOTA holdings remain safe and secure.

This will ensure that you have full control over your IOTA and reduce the risk of theft or loss.

How to Sell IOTA?

To trade, convert, or sell IOTA, you can follow these steps:

Choose a reputable cryptocurrency exchange that supports IOTA trading.
Create an account on the exchange, and complete the required verification process.
Deposit IOTA into your exchange wallet or convert other cryptocurrencies such as Bitcoin or Ethereum to IOTA.
Place an order to sell IOTA at the desired price.
Once the order is filled, the IOTA will be converted to the currency of your choice or deposited into your exchange wallet.
Withdraw the funds to your bank account or transfer to another cryptocurrency wallet.

It's important to remember that the process for trading, converting or selling IOTA may vary depending on the exchange and the specific transaction.

Be sure to carefully review the exchange's policies and fees, as well as the market conditions, before making any trades or transactions.

Additionally, it's recommended to secure your IOTA in a private wallet to reduce the risk of theft or loss.

What Are the Best Ways to Sell and Buy IOTA?

Buy IOTA Online Using Trading Markets

There are few online trading markets you can use to sell and buy IOTA. However, the ones that offer options to purchase it are very trusted and provide the opportunity to build great portfolios.

The renowned market eToro is one of the most trusted online brokers to buy IOTA.

Once an account is set up by submitting the required personal details, users can begin to take the steps towards buying IOTA.

First and foremost, eToro users must make a deposit to access IOTA. The initial deposit stands at approximately $100 USD for UK users; therefore, it is not going to break the bank if you want to start trading using IOTA.

A debit, credit card or trusted payment method such as PayPal can be used to make a deposit.

However, investments made in cryptocurrencies do carry extra risk as their value can fluctuate considerably over a short period. However, with IOTA increasing in popularity and usage, its value is likely to increase over the next few years.

The eToro platform is great for beginners, and users can download a mobile app for ease of use.

Don’t invest in unless you’re prepared to lose all the money you invest.

Where to Buy IOTA & How?

Furthermore, the investments themselves are easy to make and can be kept at low risk. There is no pressure to invest heavily in any cryptocurrency.

Other platforms that allow the trade of IOTA and cryptocurrencies are NAGA and Plus500 (via CFDs). These are both trusted and offer similar options to eToro.

NAGA has a great reputation on Trustpilot and offers what they refer to as a crypto ecosystem. This package allows users to create a cryptocurrency wallet and trade directly from there.

Plus500 is more popular in Europe; however, it does offer to streamline data, commission free trading and access to globally registered markets.

80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. *CFD trading via Plus500’s demo account.

Depending on what market is being used, conversion from established cryptocurrencies such as Bitcoin or Ethereum could be necessary beforehand.

Furthermore, the registration process and the minimum deposits on each trading platform will differ.

It is best to set out your intentional investment plans before jumping in on any platform.

Whatever you choose, an online broker can be a great way to increase your stake in IOTA as a future cryptocurrency. It is also likely that more brokers will allow access to IOTA as a staple coin once it becomes more popular.

Buy IOTA Using Online Coin-Based Wallets

A wallet can be set up to buy IOTA directly should you prefer to avoid using online brokers and investment platforms to buy IOTA.

There are multiple wallets to choose from as the use of cryptocurrency has become popularized over the last ten years.

Crypto Wallet

A crypto wallet is a medium where users can store public and private keys that denote a particular cryptocurrency's value.

Unlike the wallet used for everyday currency, the actual money is not stored in a crypto wallet.

Instead, it is the keys that denote value. With these keys, the stated value can be transferred to other wallets or accounts.

IOTA Trinity Wallet

One of the better options to access IOTA directly from a wallet is the IOTA trinity wallet.

This wallet allows users to manage their transactions over desktop and mobile. Furthermore, it makes the process of transactions seamless.

The use of the IOTA trinity wallet is relatively new, but it has many features that make transactions as good as using other wallet methods.

These features include:

Easy-to-support QR codes for a simple transaction
A user-friendly setup that is guided and backed up with advice
Customizations of language, time, currency and thematical layout
Automatic updates to bring users up-to-date market data and news

Using Established Cryptocurrencies

It is likely that you are not new to the use of cryptocurrency, and you may have already established crypto wallets.

If you want to maintain your portfolios built in these wallets, it is still possible to buy IOTA.

If you are used to buying more popular cryptocurrencies, you may want to use wallets that you have already invested in. In this case, all you have to do is convert either your bitcoin or ethereum into IOTA.

To do this, you will have to check what the exchange rates are of these cryptocurrencies are.

The trading exchange platform Binance is a great way for users to check the value of exchanging their existing cryptocurrencies into IOTA.

This method is relatively popular, and it is often opted for to avoid any potential scams or loss of money.

You will have to submit some personal details such as your address, telephone number, and a valid email address.

Once you have confirmed you use these sets of data through verification links, you may be asked to provide some form of personal identification.

A passport or driver's license are favored options as they can be verified quickly.

To deposit money, you can choose a card payment or PayPal. It is at this point that you can convert your deposited money into a cryptocurrency address.

To those unfamiliar, an address is shaped in the form of a long chain of numbers and letters. These addresses can be used to exchange cryptocurrencies.

From here, you can use Binance to convert the amount you hold to an address. It is best to pick a combination rather than spreading your deposits too thin.

Whichever you find has the best exchange rate or the cryptocurrency you are most comfortable with. Use this chosen cryptocurrency alongside IOTA.

The exchange rates can be checked on Binance. Ethereum proves popular; however, other cryptocurrencies, such as bitcoin, komodo and monero, can also be used.

Remember that the fewer exchanges you do, the more value you will receive on IOTA. Keep the volume of exchanges at a minimum to maximize the value of IOTA you receive.

IOTA Price Prediction

IOTA Price Prediction 2024

Predicting the exact bottom of IOTA's price proves challenging amid its consistent lower lows and lower highs.

However, historical patterns show unpredictability, but it’s believed that the likely IOTA price prediction for the current year envisions a potential low of 0.12 USD and a high of 0.22 USD. The average price by the year's close is predicted to be $0.17.

IOTA Price Prediction 2030

Due to the unique approach by IOTA to use a “Coordinator” controlled by the IOTA Foundation for transaction computation does raise several concerns about the possibility of censorship issues and centralization.

Furthermore, the upcoming IOTA 2.0 upgrade, Coordicide, aims to decentralize the network. After launching the upgrade, IOTA may look to enhance scalability and boost throughput, amongst other things. This evolution aligns with IOTA's vision of providing a secure, interoperable, and immutable Internet of Things (IoT) network.

However, despite the concerns around centralization, IOTA's low market cap positions it as a promising crypto with long-term potential.

For these reasons, the IOTA price prediction for 2030 may include potential lows of $1.4 and highs of $2.5. The average price is believed to be around $1.95.

Frequently Asked Questions

If you're looking to buy IOTA, it's important to find a reputable and secure exchange.

There are several factors to consider when choosing an exchange, including:

Fees
User interface
Security
Customer support

To find the best places to buy IOTA, you can start by researching popular exchanges that support IOTA, such as Binance, Bitfinex and Huobi.

You can also read reviews and user feedback to get an idea of the exchange's reputation and track record.

Ultimately, it's important to do your own research and choose an exchange that meets your specific needs and preferences.

IOTA is a unique cryptocurrency that uses a different technology called Tangle, which is designed to enable feeless microtransactions and scalability.

The technology has the potential to revolutionize the Internet of Things (IoT) industry by enabling secure and efficient machine-to-machine communication and data sharing.

However, like all cryptocurrencies, the value of IOTA can be highly volatile and is subject to market fluctuations.

Additionally, there are potential risks associated with any investment, including regulatory changes, security breaches, and technological vulnerabilities.

Before you buy IOTA or any other cryptocurrency, it's important to do your own research, understand the potential risks and benefits, and consult with a financial advisor.

IOTA is unique among cryptocurrencies because of its underlying technology called Tangle.

Unlike traditional blockchain technology, Tangle operates without miners and blocks.

Instead, it uses a directed acyclic graph (DAG) structure to validate transactions, which enables feeless and near-instantaneous transactions.

IOTA's technology also allows for secure and efficient machine-to-machine communication, data sharing and tamper-proof record-keeping.

Furthermore, IOTA's zero-fee structure makes it an attractive alternative for businesses and individuals looking to conduct small transactions without incurring high fees.

Overall, IOTA's technology and potential applications make it a unique and promising cryptocurrency with significant potential.

IOTA Tangle is the underlying technology that powers the IOTA cryptocurrency.

It is a distributed ledger system that uses a directed acyclic graph (DAG) instead of a traditional blockchain to validate transactions.

In the Tangle, every transaction must confirm two previous transactions, which creates a decentralized network that allows for feeless and near-instantaneous transactions, making trading and buying IOTA an attractive option for investors.

This makes IOTA Tangle particularly well-suited for the Internet of Things (IoT) industry, where micropayments and data transfer are critical.

After you buy IOTA tokens from a crypto exchange, it's time to set up your own wallet.

Purchase IOTA tokens on an exchange.
Download Trinity Wallet from the official IOTA site.
Install and choose a language.
Generate an 81-character secure seed using Trinity or KeePass.
Name your wallet.
Back up the seed via writing, exporting SeedVault, or printing. The recommended choice is "Export SeedVault" for an encrypted file.
Store backups securely for seed recovery.

The history of IOTA price predictions can be somewhat contradictory as there is no universal consensus about positive or negative future price changes. However, it's believed that IOTA prices will continue to rise as it is possible to see growth due to several different factors, including new technological solutions or simply crypto improvements in general.

Finally, it is advisable to always do research before investing in any cryptocurrency.

The payment methods available to buy IOTA may vary depending on the exchange or platform you use.

However, some common payment methods that are typically supported by exchanges include:

Credit or debit card – This is typically the most convenient and fastest method
Bank transfer – This may have lower fees
Cryptocurrencies

Final Thoughts

The use of IOTA in the world of cryptocurrency is relatively new; however, it has a potential that other blockchain alternatives have hitherto not offered.

Digital currencies such as bitcoin have had scalability problems. Additionally, because of their mass popularity, the value of bitcoin fluctuates frequently.

If you have been investing in bitcoin and have been using it as an alternative to currencies we are used to, then IOTA could be the next step for you.

IOTA is a new technology, and its ability to carry the data found on various smart devices makes it an attractive prospect for technologically savvy individuals.

Furthermore, its market value is increasing quickly, making it an attractive investment prospect.

Problems have arisen surrounding its susceptibility to hacking; however, these issues are being mitigated with the incorporation of standardized technologies.

Today, it is proving more popular because of these standardizations, and you can now use this cryptocurrency with ease. Following the steps above, anybody can begin to buy IOTA and use it.

Now may be the perfect time for you to switch from the standard blockchain currencies and buy IOTA.

WikiJob does not provide tax, investment, or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.