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IOTA Token (IOTA): Everything you Wanted to Know as a Beginner before Investing!

IOTA (MIOTA) is one of the top 50 most popular cryptocurrencies currently. In terms of market cap, it is currently the 47th largest digital currency (over US$3.77 billion in market capitalizations). Should you invest in it? Is it a good investment? To answer all your queries, let me walk you through IOTA, how it works, and many more.

What Is IOTA Coin (MIOTA)?

IOTA is a distributed ledger but with a twist. It is not a blockchain. Yes, you read it right. The transactions are confirmed by a system of nodes that is based on its proprietary technology called Tangle. The IOTA Foundation, which is the foundation behind this platform, says that their proprietary system of transaction confirmation provides greater speed than conventional blockchains. In the ever-expanding Internet of Things (IoT) ecosystem, it is an ideal footprint as per the foundation. 

Interestingly, there are no miners in this ecosystem because there are no blockchains. In fact, there are no fees too. The main aim of IOTA is to give limitless throughput at the minimal expense at a time when established networks experience ballooning costs. IOTA wants to become the de-facto platform to execute transactions between different IoT devices. As per estimates, there are going to be around 20.4 billion IoT devices by the year 2024, becoming a huge business. 

In fact, the distributed ledger will have many other use cases too where digital identities will be delivered to all. This result in:

  • Actual usage-based car insurance policies.
  • Delivery of seamless global trade.
  • Pave way for cutting-edge smart cities.
  • Prove product authenticity.

This project was originally named Jinn. For kickstarting the project, a crowd sale was conducted in September 2014. The project was launched officially in 2016. The IOTA technologies project has 4 co-founders and they are Sergey Ivancheglo, Dominik Schiener, David Sønstebø, and Serguei Popov. While both Sonstebo and Schiener are co-chairpersons of the board of directors, Popov is the IOTA foundation’s director of research and a board member. 

IOTA (IOTA): Facts & Figures

All these facts and figures (as of Oct 22, 2021) will help you to make a decision on investing in IOTA. Before making MIOTA transactions, check out these facts and figures associated with this digital asset of choice:

  • MIOTA Price: US$1.36
  • Trading Volume (24h volume): US$114,319,865
  • All-Time High (ATH) Price: US$5.69 (reached on Dec 19, 2017)
  • All Time Low (ATL) Price: US$0.07962 (reached on Mar 13, 2020)
  • 24h Low: US$1.25
  • 7d Low: US$1.21
  • YTD (Year-To-Date) Return: 355.41% YTD (Year-To-Date)
  • Market Cap: US$3,762,120,314 (US$3.76 billion)
  • Crypto Rank (in terms of market cap): 47
  • Fully Diluted Market Cap: US$3,767,457,016
  • Max Supply: 2,779,530,283
  • Total Supply: 2,779,530,283
  • Circulating Supply: 2.78 Billion MIOTA (100%)

These are the facts that made MIOTA a preferred medium of exchange. Always check out market data and technical analysis before trading or investing. Also, consult crypto financial advisors and get tips from them on trending coins. 

How Is the IOTA Network Secured?

The IOTA network is secured by including a relatively simple and straightforward Proof of Work puzzle in the transaction validation process. 

Where can you Buy IOTA Tokens?

You can buy MIOTA coins in almost all reputed cryptocurrency exchanges including:

  1. Binance
  2. HuobiGlobal
  3. Binance.US
  4. Bitfinex, and many more.

You can use credit cards, debit cards, or money transfers from a bank account to fund your cryptocurrency trading or investing account in a leading cryptocurrency exchange. 

The most popular price pairs of FIL are:

  • IOTA/USD
  • IOTA/BTC
  • IOTA/USDT
  • IOTA/BUSD, and many more.

Before investing, check out historical data of token IOTA, crypto news, IOTA price charts, IOTA to BTC exchange rate, and others.

What are the Best Crypto Wallets to Store IOTA Tokens?

The best IOTA wallets to store IOTA coins are:

  1. Ledger Nano S
  2. IOTA Trinity Wallet
  3. Guarda IOTA Wallet
  4. Nostalgia wallet
  5. GUI IOTA Wallet
  6. Coinbase Exchange Wallet

Invest in IOTA and Other Cryptocurrencies

You can buy and sell MIOTA and other virtual currencies against various fiat currencies (US Dollar USD, British Pound, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto APIs/mobile app, and IOTA markets. Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility. 

If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi protocols and tokens for maximum profit. 

You can also diversify your crypto coin portfolio by including other cryptocurrencies such as IOTA, XMR, FIL, ETC, WBTC, BCH, BTC, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Shiba Inu SHIB, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others. 

Also, invest in various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return. 

Invest in NapBots: A Dynamic Cryptocurrency Index

Whether you are a professional or retail investor, you can expose your capital to a diversified portfolio of digital assets & crypto asset classes by simply investing in NapBots. It is a smart crypto index service that introduces multifarious features and passive portfolio management strategies for enabling cryptocurrency investors to streamline their trading experience in new ways. 

NapBots provides you various indices that include a basket of tokens with high market capitalization and are categorized by theme (such as Solana, NFT, DeFi, and others). This platform introduces an intuitive interface as well as advanced allocation tools for enabling new investors to create and manage advanced crypto indices easily.

The best part of NapBots is that it tracks and executes trades automatically on the basis of your pre-set choices of indexes. The platform is very affordable as it enables you to start trading as low as US$150 with a monthly service fee of just 2.5%, which is far below the current rate of other cryptocurrency index providers. Therefore, NapBots reduces the financial barriers and at the same time eliminates the need for human intervention and the consequent human error. 
Get started with crypto-asset investing by investing through napbots.com, a dynamic crypto index for expanding diversified exposure to bitcoin and leading crypto-assets at reduced financial barriers and no human error.