How to Buy IOTA Using Bitcoin, Binance and Digital Golgi
IOTA - Digital Currency for the Internet-of-Things (IOT)
IOTA is a decentralized protocol for Internet-of-Things (IOT) devices to trade resources (eg. storage, energy). The IOTA currency is the underlying payment method for the exchange of these resources. IOTA has an opportunity to create a brand new marketplace where IOT devices (eg. self driving cars) can trade resources efficiently in real time.
The Advantage of IOTA in IOT Payments
Imagine if your self driving car could automatically pay for parking in the city - it would use IOTA as the medium for the exchange. Now extract that concept to paying for electricity, data storage, analytics, etc. Our devices will not only communicate with each other in a peer-to-peer communication model, but also on a peer-to-peer payment system. No middleman.
Where to Buy IOTA
Binance - For US Citizens
Binance is one of the only exchanges that carries IOTA and is available to US citizens. However, there is no bank transfer or credit card purchase options - so we'll need to transfer Bitcoin or Litecoin into the exchange. We can do this manually, by copy/pasting the wallet addresses, or through Digital Golgi, with the one-click transfer feature.
Bitfinex - For UK Citizens
Bitfinex is an altcoin exchange similar to Binance, however they allow wire transfer and have a direct IOTA/USD pair. Downside is that Bitfinex is not open to US citizens.
OKEX - For Citizens Outside US
OKEX is another leading altcoin exchange that supports IOTA. Their trading platform is very user friendly and is supported by significant venture capital investors, including Tim Draper. Downside is that they are not open to citizens of the US, Hong Kong, Cuba, Iran, North Korea, Crimea, Sudan, Malaysia, Syria and several other countries.
Digital Golgi - The Crypto Exchange Connect
For an even easier way to buy into IOTA, plug your exchanges into Digital Golgi. We are your one stop shop to easily buy and sell IOTA in three clicks or less. Sign up for early access to our IOS and Android app now.