IOTA news today for beginners : How to buy IOTA?
IOTA (MIOTA) is one of the more popular cryptocurrency mostly appear on crypto news today. Unlike the complex and heavy blockchain of Bitcoin or similar platforms, IOTA is created and optimized as light as possible, and designed for other uses. For example, IOTA uses micro-transaction method to optimized for Internet of Things (IoT).
Today, let’s find out about the IOTA Coin, how it works, where to create IOTA storage wallets and which investment deals on the exchanges are cheap, safe and most reputable?
1. What is IOTA?
a. IOTA: The basics
IOTA’s market capitalization is 838 million dollar. Though sitting comfortably in the top 15 types of cryptocurrency, IOTA’s price is still quite low and there is still room for future investors.
Price is only a part, IOTA’s technology is really something that brings value to investors and users. Unlike Bitcoin BTC‘s Blockchain system, IOTA (MIOTA) builds on the Tangle non-chain block system – a more advanced open source class-book ledger protocol.
- Technical Details
- Launched: June 11, 2016
- Total coin supply: 2,779,530,283
- Algorithm: Proof of Work (PoW) using a version of SHA-3
- Block time/reward: No blocks, verify two transactions to submit your own transaction
b. Who Created IOTA Cryptocurrency?
Serguei Popov is a Doctorate in mathematics, along with David Sonstebo, Sergev Ivancheglo and Dominik Schiener together to develop technology solutions. Popov built a mathematical foundation, while Ivanchegle and Schiener wrote the code. Sonstebo work as the project’s supervisor. The token was created in December 2015.
2. Advantages of IOTA
- Allow small transactions: This is appropriate for small capital companies to plan their strategies in advance.
- Clear data – security: Creating small transactions makes data transmission smoother, and like other Crypto, IOTA data must be verified to ensure this is safe for data.
- There is a large amount of users trust: The purpose of IOTA is to connect users to make the world better. The Tangle platform has a diversified purpose for smooth data transmission through surveys that find users well-adapted to the platform.
- Specifically artifacts into utility services: With IOTA you can buy and sell houses and offices for rent … via IOTA conveniently
- Improve the quality of ledgers.
All IOTA transactions are archived, making it easier to handle the occurrence of an incident.
3. How to buy & store IOTA?
Currently IOTA is traded in many major exchanges such as Binance, Bitfinex, Huobi … However, it is best to divide your capital into multiple parts and buy this coin in at least 2 exchange. To buy IOTA, you can buy Bitcoin or Ethereum and then transfer to the exchanges.
If you own a large amount of IOTA, the best deal is IOTA storage wallet on your computer, by download at Trinity IOTA. If you use a phone, you can find Trinity IOTA version for android at on App Store and CH Play stores , howherever, Trinity wallet for smartphone aren’t official release. For more sercure, IOTA is also available on Ledger Nano S – a very popular hardware wallet support much coin like Tron TRX, Ripple XRP …
4. What is the future of IOTA?
If you are looking for good coins for a high rate of return, MIOTA can be a long-term profitable investment option. IOTA price is equivalent to 3,359 USD at the time of 2018-01-10.
If you buy IOTA with $100 today, you will get about 337 MIOTA. Based on our price forecasts, over the long term prices will rise, predicting prices at 2023-01-06 is about $20 for each IOTA
With a 5-year investment, interest rates are expected to be around + 670%. If you feel unsure that you can keep it for a long time, you can day trade using this coin because the daily trading volume of this coin is very high.
5. How is IOTA different from other algorithmic currencies?
From the concept, IOTA is different from Bitcoin at zero transaction fee. Transaction fee for Bitcoin changes based on Bitcoin price. Back in November 2017, the average Bitcoin transaction fee is 6 USD.
That makes it difficult for Bitcoin impossible to be the currency to pay for small value products, like coffee cups. When Bitcoin price exceeds $10,000 – even $15,000, transaction fee has increased to a lowest of 26 USD.
Hopefully this article has helped you get more useful information for yourself as well as have more knowledge to be able to decide the investment properly.