Buy IOTA
IOTA
What is IOTA?
IOTA is a cryptocurrency platform offering something new: decentralised ledger technology applied to ‘The Internet Of Things’.
So in theory you could have your smartwatch talk to your smartphone over the IOTA network. What’s unique is that IOTA doesn’t use a fork of Bitcoin; nor was it built on Ethereum. IOTA sits on a bespoke blockchain called ‘The Tangle’.
What are IOTA's goals?
IOTA wants to be feeless and highly scalable.
The Tangle represents a unique project nicely timed with the advent of the Web 3.0.
IOTA promises to solve the problem of scalability and create a decentralised ecosystem ideally suited to the Internet of Things.
When compared with other blockchain projects, IOTA has one of the loftiest and most exciting goals of all.
How much IOTA/MIOTA is on the market?
MIOTA has a large supply. You can take this in two ways. First compared with Bitcoin, with its capped supply of 21 million tokens, IOTA is unlikely to reach such exalted prices.
There are 2,779,530,283 MIOTA on the market, with a total supply of 2,779,530,283. Unusually, there are no tokens locked up in a foundation.
What the bears are saying
- Is it too science fiction? It's all very well talking about machines interacting with humans and a blockchain, but it’ll be years before we see the reality.
- Security: The MIT media lab found an exploit in the Tangle resulting in the ability to produce a collision - a situation where a different input hash pointed to the same output, which could forge signatures on IOTA payments. IOTA has rectified the problem, but it shows developing new blockchains can be risky.
What the bulls are saying
- High profile partnerships: The IOTA Foundation has partnered with the likes of Samsung, CISCO & Innogy to name only a few. Such high profile partners demonstrate the caliber of the project.
- Value of IoT market: The Internet of Things could be worth $470 billion by the end of 2020, according to a recent study by Bain, the consultancy firm.
- Quantum proofed: When Quantum computing becomes a practical reality it could render a lot of cryptos redundant. IOTA has future-proofed itself by not using blockchain technology since it doesn’t require mining. Hence no fees, faster adoption.
How to buy MIOTA
With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet.
Nothing could be easier.
Here’s how fast it is to get started:
1. Go to Uphold.com and click sign up.
2. Enter your email address and personal details.
3. Click the link we send you and create a password
… and you’re off to the races!
You should be aware that the risk of loss in trading or holding cryptoassets can be very high. As with any asset, the value of cryptoassets can go up or down and there can be a substantial risk that you lose all your money buying, selling, holding or investing in cryptoassets. Our cryptoasset services are not within the scope of the UK Financial Ombudsman Service and your cryptoassets are not subject to protection under the UK Financial Services Compensation Scheme. You should carefully consider whether trading or holding cryptoassets is suitable for you in light of your financial condition.
Uphold Europe Limited (FRN: 900577) is registered under the Financial Conduct Authority’s Temporary Registration Regime for cryptoasset firms and complies with the Money Laundering, Terrorist Financing and Transfer for Funds (Information on the Payer) Regulations 2017 as amended. The purchase, sale and custody of cryptoassets is regulated by the FCA for anti-money laundering purposes but this does not indicate any approval by the FCA of Uphold’s cryptoasset activities. Uphold Europe Limited is also an EMD agent of Optimus Cards UK Limited which is authorised and regulated by the Financial Conduct Authority to issue e-money (FRN: 902034) pursuant to the Electronic Money Regulations 2011.
The e-money services are regulated by the Financial Conduct Authority. E-money is not a deposit or investment account which means that your e-money will not be protected by the Financial Services Compensation Scheme. User funds will be held in a designated safekeeping account with a regulated financial institution. E-money will not earn any interest. Additional Risk Warning in Uphold’s Terms & Conditions.
May not be available in all jurisdictions.
This content is correct as of October 2020
Note: this cryptocurrency is not available for withdrawal to external crypto wallets. It can be bought, held, and sold on Uphold.
Get more coin for your coin
0% withdrawal fees
Low spreads
