Table of contents:
- 1 Buy IOTA – how to buy the popular crypto currency with Euro?
- 1.1 Buy IOTA: Overview of the crypto currency
- 1.2 Buy IOTA: How does IOTA differ from other crypto currencies?
- 1.3 IOTA DOES NOT RELY ON THE BLOCKCHAIN TECHNOLOGY, BUT ON GRAPHS
- 1.4 BUY IOTA COIN: IOTA AS CRYPTO COIN FOR THE INTERNET OF THINGS
- 1.5 MANY POSSIBLE APPLICATIONS FOR IOTA: FACTORIES, SUPPLY CHAINS AND ROAD TRANSPORT
- 1.6 Buy IOTA Instructions: Buying the crypto currency at a crypto exchange
- 1.7 FOR STORING IOTA YOU NEED A CRYPTO WALLET
- 1.8 Buy IOTA with Euro: Use CFD Broker to trade with Cryto Coins
- 1.9 WHEN CHOOSING A CFD BROKER, PAY ATTENTION TO THE TRADING OFFER AND THE TRADING CONDITIONS
- 1.10 BUY IOTA: TO PLACE VALUE ON THE BEST POSSIBLE TRADING PLATFORM
Buy IOTA – how to buy the popular crypto currency with Euro?
In this article we will go into the crypto currency IOTA in detail. We also deal with the question how to buy IOTA best. All in all, IOTA is a very interesting crypto-currency that has a very large potential. For example, crypto coins could play a very important role in future factories. For this reason, large companies like Deutsche Telekom and Samsung are also interested in the crypto currency. In the following, we will also analyze IOTA’s share price development and answer the question of whether it makes sense to invest in the crypto currency at present.
- How does IOTA differ from other crypto currencies like Bitcoin or Ethereum?
- What are the possibilities to trade with IOTA?
- Buy IOTA PayPal: Use online wallets to buy crypto coins
- How will IOTA’s course develop in the future?
Buy IOTA: Overview of the crypto currency
Bitcoin was the first Crypto Coin to appear on the market in 2009. Since then the world of crypto currencies has developed rapidly. For example, the Crypto Coin IOTA discussed here came onto the market relatively late, in 2016, and within a short time, the Crypto Coin managed to become extremely popular, leaving many competitors behind. With a market capitalization of around 600 million US dollars, IOTA managed to place itself in the top 20 of the worldwide “Crypto Charts”.
Some may wonder what the name IOTA means. For example, “Iota” is the smallest letter in the Greek alphabet. However, IOTA also contains the abbreviation “IoT”: This generally refers to the Internet of Things. We will discuss this term in more detail later.
When you think of crypto currencies, experience shows that “mining” often comes to mind. Thus with crypto currencies such as Bitcoin or Ethereum the possibility exists of participating in the Mining process and of receiving Coins. However this became much more difficult nowadays with the straight crypto currencies mentioned. Therefore it makes meanwhile more sense to act with Crypto Coins already existing. With IOTA there was no IOTA Mining from the beginning, which for example is also due to the fact that the crypto currency is not based on the block chain technology. We will come back to this point in more detail later. All in all, IOTA is a very interesting crypto coin that has a lot of potential.
Buy IOTA: How does IOTA differ from other crypto currencies?
As already mentioned, the crypto currency IOTA differs in some aspects from other crypto coins. We will discuss this in more detail below. We will also go into detail about the Internet of Things and the possible applications of IOTA.
IOTA DOES NOT RELY ON THE BLOCKCHAIN TECHNOLOGY, BUT ON GRAPHS
Well-known crypto currencies like Bitcoin and Ethereum are based on the so-called Blockchain technology. One can imagine the Blockchain here like a gigantic data base. In it the data in individual blocks are stored. As soon as the storage capacity of a block is exhausted, a new block is used. The special feature of this method is that all blocks are linked together. Cryptographic methods are used for this purpose, which is why digital currencies are often referred to as Crypto Coins. All in all, this method can be used to ensure very well that the data cannot be changed afterwards. For this reason, the block chain is also very well suited as a basis for digital currencies.
However, the block chain technology also has a serious disadvantage: The more transactions are executed, the slower the system becomes. For this reason, it is also said that crypto coins such as Bitcoin and Ethereum are very poorly scalable. The bottom line is that these digital currencies are doomed by their own popularity. The developers of IOTA have also recognized this problem. For this reason it was decided to use so-called graphs instead of block chains for storing information. This technology is very scalable and therefore IOTA is suitable for a very large number of users. As will be shown in the following, this is especially important for the Internet of Things.
BUY IOTA COIN: IOTA AS CRYPTO COIN FOR THE INTERNET OF THINGS
The Internet of Things is a very colorful term. It means the following: Real existing objects should also become visible as virtual objects on the Internet. We will illustrate this with the following (simple) example: Let’s consider the real existing object “printer cartridge”. This object is initially offline and therefore “invisible” on the Internet. However, the printer cartridge can be equipped with a sensor to measure the current ink level, for example. Then the cartridge can report the ink level to the manufacturer or to an online store (for example via WLan). If necessary, new ink could then be automatically reordered. With the help of a crypto currency such as IOTA, the printer cartridge could even pay for the new ink on its own. This process would thus be completely without human intervention.
Another use case for the Internet of Things is, for example, an office chair. This too must be equipped with sensors. It is well known that many people spend a lot of time on office chairs these days. Often the chairs are incorrectly adjusted, which can cause back problems and other health problems. Every year, this causes great economic damage (e.g. due to loss of working hours, operations or rehabilitation measures). However, an “intelligent” office chair could adjust itself optimally to its respective user. To do this, the sensors can first send the required data to the chair manufacturer or a doctor. They can then make the necessary adjustments.
MANY POSSIBLE APPLICATIONS FOR IOTA: FACTORIES, SUPPLY CHAINS AND ROAD TRANSPORT
As already indicated, IOTA is primarily intended to enable machines and robots to process payment transactions among themselves. Therefore, IOTA is often referred to as “the” crypto coin for future factories. It is therefore not surprising that large corporations such as Deutsche Telekom, Fujitsu and Samsung are also interested in IOTA.
Another application area for IOTA could be future toll systems. For example, roads could be equipped with sensors. Cars and trucks would also be equipped with the corresponding sensors. As soon as the car uses a particular road, it could then pay for its use independently with the help of IOTA.
IOTA is also suitable for use in transport. Because it allows you to control and check supply chains very well. Thus, the crypto currency can score points in this area above all because the information cannot be changed afterwards. This is for example just then important, if the supply chains of medicines must be pursued. Because in this way it can be prevented that counterfeit medicines are used. The same applies to other products where authenticity is of the utmost importance. One example is branded products such as clothing or electronic goods. As you can see, IOTA actually has many possible areas of application. In the following, we will discuss how best to buy the crypto currency.
Where to buy IOTA: Using digital marketplaces, crypto exchanges and CFD brokers
Nowadays it is fortunately very easy to buy and sell Crypto Coins. To trade crypto currencies like IOTA, you can basically use the three following options:
- Digital market places for crypto currencies
- Crypto exchanges
- Crypto Broker (Trading with CFD)
As already mentioned, Bitcoin came onto the market in 2009 as the world’s first crypto currency. Shortly afterwards, the need arose to be able to trade with crypto coins. Therefore, the first digital marketplaces for crypto currencies were initially developed. These can be imagined in principle like normal marketplaces. However the buyers and salesmen meet on this, in order to exchange their Crypto Coins (either against money or against other Kryptowährungen). The operator of the digital marketplace only provides the necessary infrastructure. The individual transactions, however, take place directly between the buyers and the sellers. This system leads to the fact that the trade with crypto currencies in this way runs off occasionally very slowly. For example, a few days may pass by when the buyer first has to send the seller the money for the purchased crypto coins.
For this reason, some marketplaces now offer “express trading”. In this case, the platform operator cooperates with a certain bank. The platform users can open a current account with the bank and then connect it to the user account on the marketplace. As a result, trading will be faster in the future. However, the disadvantage is that sometimes you have to open a new current account. This can have a negative effect on the SCHUFA score, for example.
Buy IOTA Instructions: Buying the crypto currency at a crypto exchange
Because of the disadvantages just mentioned, many investors prefer crypto exchanges to buy and sell IOTA. The main difference between these exchanges and digital marketplaces is that buyers and sellers do not trade directly with each other. Instead, all transactions are handled by the operator of the crypto exchange. For this reason, it is also necessary to open a user account with the exchange. In addition, money must be deposited into the account. This capital can then be used to trade crypto currencies like IOTA. Buying and selling IOTA is very fast in this way.
In our experience, credit cards can often be used to deposit money into the account at the exchange. Buying IOTA via PayPal: some providers offer the possibility to use online wallets like PayPal, Skrill or Neteller. At crypto exchanges based in the European Union, you can often use sepa transfers and instant transfers to deposit money into your account. When choosing a particular payment method, you should keep in mind that fees may be charged for this. Before you decide on a particular crypto exchange, you should make sure that it offers trading with IOTA.
FOR STORING IOTA YOU NEED A CRYPTO WALLET
To store crypto currencies like IOTA, you need a Crypto Wallet. Such an IOTA wallet can be imagined in principle like a digital purse. You can distinguish between online and offline wallets. As the name suggests, an online wallet (also called “hot wallet”) is permanently connected to the Internet. This has both advantages and disadvantages. The main advantage is that the Crypto Coins are always available in this way. An online wallet can therefore be used like a “current account” and can be used to pay in more and more stores with crypto currency. However, with this type of wallet there is also the danger that unauthorized third parties can gain access to the coins. This risk is lower with offline wallets (“cold wallets”). It is therefore recommended to store larger amounts of crypto currency in such an Offline Wallet. Often these wallets look like a USB stick – on which the coins are stored in encrypted form.
Mostly online wallets are offered free of charge. Frequently, a wallet is also available at a crypto exchange. On the other hand, an offline wallet can cost between 50 and 100 €. Due to the increased security such an investment is however usually very meaningful. Usually one can store on it not only IOTA, but also other Coins (for example Bitcoin, Ethereum and Ripple).
Buy IOTA with Euro: Use CFD Broker to trade with Cryto Coins
To trade with IOTA, however, you can not only use digital marketplaces or crypto exchanges. More and more crypto brokers offer the possibility to trade currencies as CFDs with crypto. Many traders already know CFD trading from trading with stock indices like the DAX or with currency pairs like the Euro / Swiss Franc (EUR / CHF).
The special feature of CFD trading is that the transaction takes place only between the broker and the trader. Therefore you will not receive “real” Crypto Coins. Nevertheless you can profit from the price movements of the crypto currencies in this way. Trading with CFD offers numerous advantages. For example, you do not need a crypto wallet, because the crypto coins are on the trading account as “normal” CFDs. In addition, you can use a leverage in CFD trading. Here is an example: We assume that IOTA is at a rate of 0.20 US dollars. To trade with 1,000 coins, you need 200 US dollars. With a CFD broker, however, you can use a leverage of 1 : 2. This means that in this case you only need 100 US dollars to trade with 1,000 coins. With 200 US dollars, however, you could trade with double the amount, namely with 2,000 coins. In this case you would also profit twice as much from the price movements of the crypto coins.
WHEN CHOOSING A CFD BROKER, PAY ATTENTION TO THE TRADING OFFER AND THE TRADING CONDITIONS
When choosing a CFD Broker you should pay attention to several things. As with a crypto exchange, it is important that one of the providers offers trading with IOTA. In addition, with a CFD broker you often have the opportunity to trade the following financial products:
- Stock indices (for example DAX or Dow Jones Index)
- currency pairs (for example Euro / US Dollar)
- Individual shares (for example the shares of Siemens, Microsoft and Apple)
- Precious metals (for example gold and silver)
- Raw materials (for example oil)
In addition one should pay attention with a broker to the fact that one receives as favorable a trading conditions as possible as a customer. Thus the costs and fees, which can develop with the Trading, consist in principle of three factors: Costs, which arise with each trade (usually by the spread), fees for deposits and withdrawals as well as other costs and fees.
The spread is the difference between the purchase price and the sale price. The lower this difference is, the better it is for the client. It is also important to find out in advance whether the broker charges fees for deposits and withdrawals. To clarify these points, it is a good idea to use our big broker comparison. We compare the individual providers independently and conscientiously. In this way it is easy to find the optimal broker for trading with IOTA.
BUY IOTA: TO PLACE VALUE ON THE BEST POSSIBLE TRADING PLATFORM
However, experience has shown that brokers differ from each other not only in terms of the trading offer and conditions. As a trader, you should also make sure that the brokers provide you with the best possible trading platform. Because usually one spends many hours to analyze the chart with the help of the trading platform. Many brokers, for example, offer MetaTrader as a trading platform. This software is very popular among both beginners and experienced traders. The MetaTrader has numerous tools to analyze the charts thoroughly. In addition, MetaTrader is already equipped with over 30 technical indicators. As a trader, you can use these indicators very well to get good signals for entry.
It is also important that the customer has access to mobile trading apps. This way, you are not forced to spend the whole day in front of the trading screens.