How to buy Iota Cryptocurrency : Places to purchase Iota Tokens
If you are looking to buy iota tokens this page will show you all your options and show you what is the best exchange to trade Iota. If you purchase IOTA tokens on an exchange make sure you enable 2FA in your security settings.
Bitfinex is a crypto-currency exchange trading and currency-storage platform based out of Hong Kong and owned and operated by iFinex Inc. Since 2014, it has been the largest Bitcoin exchange platform, with over 10% of the exchanges’ trading.
If you plan on trading Iota the best place to buy Iota tokens is on Bitfinex.
The way I purchased my first IOTA was to first sign up for a Coinbase account, I then purchased bitcoins and sent these bitcoins to Bitfinex.
Once your bitcoins arrive on Bitfinex you need to transfer them from your funding wallet over to your exchange wallet. Then you can purchase IOTA. From Bitfinex you can keep your IOTA there and accept the risk of holding on an exchange or transfer them to your own IOTA wallet where you are responsible for security.
TRADING PAIRS ON BITFINEX
Bitfinex will soon be closing it’s doors to US customers so if you live in the USA this method won’t work.
In 2016, Bitfinex was hacked, and $72 million in bitcoin was stolen from its customers. In April of 2017, Bitfinex announced they had paid back all of customers lost funds. THERE IS ALWAYS A RISK USING AN EXCHANGE.
(Please note, Coinbase is not the cheapest place to purchase Bitcoins but it is very user friendly for a newbie)
Binance is an international exchange. The company is registered in Hong Kong, which is separate from mainland China. Binance has team members (and offices, some small) in HK, Japan, Singapore and Columbia at the moment. After the recent issues with China they have banned all Chinese users from trading and no longer have servers in China; they’re currently located in South Korea and Japan
The exchange is led by Changpeng Zhao and his company Beiji Technology. The exchange is best known for its fast processing speeds.
TRADING PAIRS ON BINANCE
Currently Binance is the best place for US residents to purchase IOTA. The exchange is quite new and the platform is still in development. I personally hate the charts they use as the tools and indicators are limited (I much prefer charts by TradingView). The worst part is that you can’t set stop losses which means you need to keep an eye on your position if there is a lot of volatility in the market place. I am sure in the future things will improve.
YDX is a cryptocurrency exchange that has no trading fees and no deposit limits. You can buy IOTA here if you follow the correct procedures.
YDX is a semi-automated escrow service that enables the trading of supported cryptocurrencies through a dedicated Slack team: ydx.slack.com.
For details on how to get an invitation, please click here.
On August 3rd 2017 IOTA was listed on BIT520 a Chinese cryptocurrency exchange
If you live in Australia you can purchase IOTA at Coinspot . One of my friends from Australia says they are trustworthy but they do tend to give a bad exchange rate.
It’s currently open for registrations but has not started trading yet.
BUY IOTA ON OTHER CRYPTO EXCHANGES:
Cobinhood is a zero trading fee cryptocurrency exchange platform for the blockchain era based in Taiwan.
The Coin Portal (Cointal) is a Peer to Peer cryptocurrency marketplace. It’s also the first Peer to Peer Ripple and Ethereum marketplace. Our objective is to simplify the purchase of cryptocurrencies by connecting sellers with buyers, and offering endless methods of payment.
Cointed was founded in 2015 by Wolfgang Thaler and Christopher Rieder. The young duo – who had been fans of bitcoin for years – had to experience, that acquiring cryptocurrencies was still a time-consuming process. With their company they aimed to achieve one goal: Making the access to cryptocurrencies as easy as possible.
According to their twitter, Coinrail Korea will be adding IOTA on the 22nd November 2017
IOTA will probably be listed on other cryptocurrency exchanges in the near future, I will update this page accordingly.