Buy IOTA (MIOTA)
IoT technology is now used in almost all devices with the prefix "smart". It consists in the possibility of objects interacting with each other using the Internet. As a result, there was made a system that has secure communication channels, as well as its own payment unit IOTA.
According to the idea of the creators, with the help of the platform users will be able to rent their own equipment - from hard drive space to mining capacity, as well as to publish information, for example, about the products they produce in real time.
Trading on just two crypto exchanges, the coin outperformed hundreds of altcoins in terms of capitalization and made it to the top 10. Given the increased interest, which was gaining momentum, analysts predicted that it would soon be in the top 5, but a number of problems with implementation collapsed the price, and the token flew to the top 20, where it is still located today. Given that the market capitalization is not the main indicator that affects the viability, a serious decline in the number of bidders was not observed. Later the Norwegian bank DNB ASA became interested, institutional investor RobertBosh VentureCapital provided investment, and in the spring of 2019 Land Rover and Jaguar signed an exclusive agreement to develop and test smart contracts based on IOTA.
Thanks to them it is planned to create a "smart wallet" for cars. This is now one of the key projects, which could have a positive impact on the growth of the token's price.
What is IoTa?
The purpose of this cryptocurrency is to unite all devices that are connected to the Internet. Initially, the developers made a decision to focus not on the Internet of People, but on the Internet of Things. The decision to focus not on the Internet of People, but on the Internet of Things, which served as the basis for the name. Most often, the digital coin is used for microtransactions, as there are no commissions or minimum payment limits. This allows even 1 coin transactions (one thousandth of a cent).
How does IOTA work?
The process of network formation cannot be called blockchain because it does not have the usual creation of blocks connected to each other as in bitcoin. The data structure is in the form of a graph, which is based on Tangle's own concept. There is no single chain. The network is formed by adding new transactions, which must then confirm the previous two (in random order).
Thus, there are a number of advantages, solving that in bitcoin is difficult to fix:
- The lack of centralization co from miners. To increase revenues, the power of individual "miners" are combined into pools, and this can lead to the possibility of implementing a "51% attack". With Tangle approach, this is impossible because there is no mining in iota.
- Microtransactions. Due to the huge number of coins of their low value, users can make microtransactions without commissions.
- Transaction speed and scalability. In classic blockchain with increase of requests, the load grows, with Tangle model, increase of transfers, on the contrary, speeds up the network.
- Reliability. Modern cryptography at its core will be more stable even with the emergence of quantum computers. Bitcoin and many cryptocurrencies use old approaches to cryptography. There is no need for large investments in technology that supports payment processing. Participants who create remittances have a direct impact on the operation.
Advantages of IoTa
Unlike most cryptocurrencies, IOTA does not use blockchain technology. Instead, it uses a new technology - Tangle, which does not use blocks. It is a system with many branches, each of which can develop along its own path. The main differences between IOTA and existing cryptocurrencies on the market are as follows:
- The IOTA platform ignores the difference between ordinary users and those who can validate transactions. Therefore, in order to get your transaction confirmed, it is enough to confirm two other people's transactions. This happens automatically, you just need to log in to the system.
- The system does not charge any transaction fees.
- The platform is easily scalable and does not slow down even during peak loads.
- The number of transactions and the amount of each transaction is not limited in any way.
- Network members can pay each other off-line by joining in clusters.
- New encryption methods are provided, increasing the security of transactions.
- Centralization of the IOTA platform and its tokens is impossible, which allows the system to function stably, even if some part of it fails.
The potential of this cryptocurrency is enormous, that’s why you can invest in IOTA.
As a reason to trust these crypto assets, we can notice that the technology developed on its basis to monetize data generation, where you can buy and sell, attracts the attention of such global giants as Bocsh, Microsoft, Cisco, Fujitsu, Airbus and with some of them have already signed cooperation contracts.
Experienced players of the cryptocurrency market may notice that these features completely overlap Bitcoin's weaknesses. However, the general public learned about such currency as IOTA and its advantages not so long ago (previously, only the developers and direct investors in the stratum, who received the first tokens in exchange for their investments, knew about them). By the way, there are still no analogues in the cryptocurrency market.
How to use IoTa?
Unfortunately for miners, mining crypto as in bitcoin or using alternative approaches described in the article is not possible.
The issue of coins is 2.8 billion, of which 1 billion is held by users.
Considering that each participant, when making a transaction, checks two previous transactions, so it performs the function that in altcoins is entrusted to miners. Thanks to this, the commission in the network is zero.
Where to buy IoTa in Malaysia?
Considering long-term storage, cold wallets are suitable for these tasks. In the case of iota, the main project in this direction at the moment is Trinitu. The beta version saw the world in August 2018. The product is improving, but has not yet acquired full functionality. Links on the official IOTA website, available for installation on mobile devices, and on PCs.
Where to purchase iota cryptocurrency? Most users for short-term storage and directly trade, use cryptocurrency exchanges. Initially iota launched on just two, but now the choice is noticeably wider. The largest volume of crypto trading falls on the cryptocurrency exchange Binance, which houses up to 25% of the coins in circulation. Many experienced traders already have a profile there, if you are not registered yet, we advise you to do it. Another two popular exchanges with 10-20% of turnover are Bitfinex and HitBTC. In addition, IOTA token can be found and traded on three dozen exchanges, including Huobi and OKEx. The latter now captures the largest daily volume and exceeds one million dollars.
You can't buy MIOTA directly with your bank card at this time. Buy one of the available cryptocurrencies with your bank card, and exchange it for MIOTA with the lowest commission on Binance.
The currency for the exchange can be Bitcoin, Etherium or dollars. In particular, on the Binance exchange you can get IOTA only by exchanging Bitcoin, Etherium or internal token. In the near future, the list of sites where you can buy coins is planned to increase. Also cryptocurrency is available for purchase on some exchangers, for example, on YDX (access there can be obtained only by invitation).
How to invest in IOTA in Malaysia?
If you think the Internet of things (IoT) and Tangle project has great potential in the future, you might consider investing in IOTA for the long term. This means that you will buy IOTA coins and store them in a cryptocurrency wallet.
Crypto traders call this strategy "HODLing" - where you keep the asset in your wallet for weeks, months or even years - until it makes sense for you to cash out.
If you want to invest in IOTA in Malaysia, you should also try CFD trading.
For those who prefer to trade IOTA on a short-term basis - you will be more likely to place trades using "day trading" or "swing trading" strategies.
In this case, you can look for online brokers offering IOTA CFDs (contracts for difference).
Here's an overview of what a CFD is:
- A CFD is a derivative that tracks the real price of a financial asset - in this case, IOTA
- CFDs allow you to use leverage for your trades
- Traders can also take advantage of rising and falling markets - "long" or "short" on IOTA
One of the advantages of CFD trading is that you can start it without significant investments, because most trading platforms have a minimum deposit limit of just a few dollars. Also, CFD trading allows the use of leverage, which increases the amount of potential profit.
Just keep exploring the crypto world and you will achieve the goal!