How to Buy or Sell IOTA

In Walkthroughs by CryptoWalkthrough Team

Trade IOTA with Lowest Fees

IOTA is best bought and sold on Binance

IOTA has shown a lot of promise over its first months, growing rapidly to become a top 20 cryptocurrency with a market cap of $4,607,015,853.00. IOTA used a technology called a Tangle (or Directed Acyclic Graph) rather than a blockchain like most cryptocurrencies. This guide will walk you through how to quickly and safely buy or sell IOTA (sometimes also referred to as MIOTA) tokens.
IOTA

IOTA

$1.66

MIOTA -7.79%

How to Buy IOTA

IOTA is a new cyrptocurrency, and is currently only tradable on a small number of exchanges. These include Binance, Bitfinex, OKEx and CoinFalcon. We currently DO NOT recommend trading on Bitfinex (which is also not available to those in the United States). We instead recommend you buy IOTA on either the Binance or OkEx exchanges. Our favorite is Binance, as they have the highest volume, the lowest 0.1% trading fees, fun trading competitions with great prizes, and easy to set up accounts.

To buy IOTA, follow these simple steps:

  1. Ensure that you have some Bitcoin (BTC) or Ethereum (ETH) to use to purchase IOTA. Binance does not accept fiat currency deposits. If you need BTC or ETH, read our quick guide to buying cryptocurrencies with Bitcoin or Ethereum.
  2. If you do not already have one, open a new account with Binance. It is free and easy to setup. On Binance, click the Create Account link to get started. If you like, read our full Binance review.
  3. (OPTIONAL) After opening your account, setup Two-factor Authorization (2FA) to add another layer of security. You can skip this step if you want to buy IOTA immediately, but we highly recommend setting it up afterwards to better secure your account.
  4. After successfully confirming your account via the email you receive from Binance, log in with your account details, and navigate to the Funds > Deposits menu option.
  5. On this page, enter either BTC or ETH on the right and click the Bitcoin or Ethereum link displayed. Next, click the Copy Address button to copy the Deposit Address that is shown. Note that is very important that you select the correct currency deposit address. Be careful to not send BTC to your ETH deposit address for example. We recommend using ETH currently since confirmation times are much faster (meaning your ETH will be ready to be used to purchase IOTA more quickly than a BTC deposit).
  6. Utilizing your wallet or exchange where you hold BTC or ETH, request a withdrawal or transfer to the Binance deposit address you just copied. Double-check the address before sending!
  7. Wait for the deposit to be confirmed. You can monitor the status in the Funds>History menu tab. For ETH deposits, assuming there are no issues with the Ethereum network, they will typically be confirmed in 10-15 minutes. For BTC, the wait can be considerably longer currently!
  8. Once confirmed, navigate to the Exchange>Basic, enter IOTA into the search box on the top right and click either the small BTC or ETH button as appropriate. This will display the IOTA/BTC or IOTA/ETH trading pair. Click the pair. If you like, also click the star icon next to the IOTA/BTC or IOTA/ETH pair to mark it as a Favorite for easy access in the future.
  9. You will now see the trading view for either IOTA/BTC or IOTA/ETH. Look for the Buy IOTA box that is below the chart of recent trade activity. Enter in the price you would like to pay, and the number of IOTA you would like to purchase and click the green Buy IOTA button. Your trade will now be placed. Depending on the price you set it may be fulfilled immediately, or it may take some time if you set a price lower than the market.
  10. Once your trade has completed, you can find the details under the Orders>Trade History menu option, showing the exact number of IOTA you have purchased and their price in BTC or ETH. Congratulations, you are now the proud owner of IOTA tokens!

How to Sell IOTA

This section assumes you already own some IOTA tokens and have them stored on another exchange or in the IOTA wallet. To sell IOTA, follow these simple steps:

  1. If you do not already have one, open a new account with Binance. It is free and easy to setup. On Binance, click the Create Account link to get started. If you like, read our full Binance review.
  2. (OPTIONAL) After opening your account, setup Two-factor Authorization (2FA) to add another layer of security. You can skip this step if you want to sell IOTA immediately, but we highly recommend setting it up afterwards to better secure your account.
  3. After successfully confirming your account via the email you receive from Binance, log in with your account details, and navigate to the Funds > Deposits Withdrawals menu option.
  4. On this page, click the Deposit link for IOTA and copy the Deposit Address that is shown. Note that is very important that you select the correct currency deposit address. Be careful to not send IOTA to your BTC deposit address for example.
  5. Utilizing your wallet or exchange where you hold IOTA tokens, request a withdrawal or transfer to the Binance deposit address you just copied. Double-check the address before sending!
  6. Wait for the deposit to be confirmed. You can monitor the status in the Funds>History menu tab.
  7. Once confirmed, navigate to the Exchange>Basic, enter IOTA into the search box on the top right and click either the small BTC or ETH button based on what currency you would like to sell your IOTA for. This will display the IOTA/BTC or IOTA/ETH trading pair. Click the pair. If you like, also click the star icon next to the IOTA/BTC or IOTA/ETH pair to mark it as a Favorite for easy access in the future.
  8. You will now see the trading view for either IOTA/BTC or IOTA/ETH. Look for the Sell IOTA box that is below the chart of recent trade activity. Enter in the price you would like to sell for, and the number of IOTA you would like to sell and click the red Sell IOTA button. Your trade will now be placed. Depending on the price you set it may be fulfilled immediately, or it may take some time if you set a price higher than the market.
  9. Once your trade has completed, you can find the details under the Orders>Trade History menu option, showing the exact number of IOTA you have sold and their price in BTC or ETH. Congratulations, you have sold your IOTA tokens!