Buy IOTA (MIOTA)

What is IOTA (MIOTA)? 

The IOTA platform presented to the market a completely new product that could be called a definite alternative to the blockchain. Despite certain setbacks and problems that the project faced earlier, it continues to actively develop.

The IOTA platform was developed as a product for the Internet of Things (IoT). Despite the general principle with blockchain, this decentralized system has a number of advantages: an increase in the number of users does not slow down the data processing process, transactions are free. In due time such corporations as Fujitsu, Bosch, Volkswagen were engaged in the study and testing of the technology.

Like the Internet of Things itself, IOTA is under development and testing, but has several advantages over centralized technologies controlled by individual organizations.

As conceived by the developers, IOTA will function on the Internet of Things as a data transaction protocol protected from unauthorized access. Similarly to the blockchain, the technology will not allow changing the entered information, forming a reliable base for all participants in operations.

How does IOTA (MIOTA) work? 

IOTA is based on Tangle technology. It represents a network where all transactions can be performed in parallel, and each new one must confirm the previous two. To deceive the mechanism, you will have to gain control over most of the nodes in the network, which is extremely difficult given its constant growth.

The network is based on cryptography, which allows the creation of a private encryption key without further identification. Each participant can understand exactly who provided what information and when. This means that all submitted data can be subsequently verified. At the same time, IOTA differs from blockchain in a number of advantages.

One of the features of the IOTA technology is its internal structure, which does not require the use of a blockchain. Instead, it uses a Directed Acyclic Graph (DAG), which the manufacturer refers to as "Tangle."

Lack of mining - the production of tokens at the expense of computing power allows you to do without transaction fees.

The user, as it were, "pays" for his transaction by confirming the transactions of other people. Therefore, the IOTA cryptocurrency may well become an ideal payment system, especially for micropayments, which are disadvantageous for blockchain technology.

IOTA development history 

IOTA is a non-profit foundation based in Berlin. The project was launched in 2015 by the pioneers of blockchain technology Dominik Shiner, David Senstabe, Sergey Ivancheglo and Sergey Popov.

The name is not an acronym for IoT. IOTA is the ninth letter of the Greek alphabet (j), representing a small particle. The developers of this name wanted to show how low computing power is required to use the technology.

In 2016, beta testing of Tangle began. In the fall of 2017, the first large industrial companies began collaborating with IOTA: Bosch, Refugees United, Volkswagen and Sopra Steria.

In 2018, the capitalization of the project fell sharply due to a vulnerability discovered in the system. At the end of the same year, a number of users of the project lost their funds due to hacking.

In 2019, the IOTA trading platform - Data Marketplace for the exchange of data for businesses and consumers - was launched.

At the end of 2020, the platform announced the largest update in its history. On December 14, the IOTA Foundation announced the launch of the Chrysalis 1.5 public testnet. The update is an interim milestone for IOTA 2.0.

The next update took place in 2021 and was called Nectar DevNet.

At the end of 2021, IOTA developers announced the launch of beta testing of smart contract capabilities. They now support the Ethereum virtual machine and Solidity smart contracts.

IOTA offers users programmable smart contracts in the IOTA 2.0 DevNet. In addition, support has been announced for the Ethereum virtual machine (EVM) and smart contracts written in Solidity, Go (TinyGo) and Rust. The team is currently working on extended EVM support.

IOTA smart contracts will allow the transfer of assets along the chains without commission. This will increase the utility and scalability of the IOTA ecosystem.

How to buy IOTA (MIOTA)? 

IOTA cryptocurrency is listed on all major trading platforms. Therefore, anyone can easily buy MIOTA and use it as a means of payment or make money on changes in the cryptocurrency rate.

In order to buy IOTA in Nigeria, you should use the services of popular and time-tested cryptocurrency exchanges. In this case, you will reduce your risks and secure your funds.

Currently, the top 10 most popular exchanges include such sites as:

1. Binance. This is not just a cryptocurrency exchange, it is a global ecosystem for cryptocurrencies, which includes: Binance Exchange (the world's largest cryptocurrency exchange), Launchpad (platform for selling tokens of blockchain projects), Info (information resource about crypto projects), Charity (charitable foundation) and many more other projects.

2. Okex. One of the world's leading exchanges serving millions of clients from over 100 countries. The platform offers a wide range of different financial instruments, including: spot and margin trading, options, perpetual swaps, DeFi, lending and mining.

3. Huobi. One of the largest and most popular online digital asset exchanges, it is known for its various functions and high liquidity. The company was founded in 2013 and currently has over 1300 employees. Its subsidiaries and partner companies are located in 12 countries. In general, the exchange provides services to users from more than 170 countries of the world.

How to invest in IOTA (MIOTA)? 

To invest in IOTA in Nigeria, you need to open an account on one of the popular exchanges. IOTA will be present at all these sites. If you already have an account on the exchange, you can invest in IOTA right now.

But when investing, it is important to understand that you are not just buying MIOTA, you have to store the coin somewhere for a very long time. Since an investment is an investment in an asset for an extended period of time.

Therefore, the safety of your investments will depend not only on the choice of a trading platform, but also on the choice of a wallet in which you will store your cryptocurrency.

Where to trade IOTA (MIOTA)? 

IOTA is a fairly popular cryptocurrency. Therefore, many brokerage companies have also included it in the list of traded instruments. But in this case, buy IOTA means that you are buying a cryptocurrency CFD.

For trading, CFD trading is preferable. You will not be able to physically own the asset and use it, but there are other opportunities for you to earn money.

You will be able to speculate on changes in the value of an asset and make money on it.

Moreover, CFD trading allows you to both buy MIOTA and sell MIOTA. Those. you will be able to trade both bullish and bearish markets. This gives you a great advantage and the ability to use a wider range of trading strategies.

Security of IOTA (MIOTA) investments 

At one time, the IOTA platform was hacked, so invest in IOTA cannot be called the most successful. Nevertheless, the project continues to exist and develop and has good chances for further development.

In this case, invest in IOTA can bring good income.

In addition, some hacker attacks were successful due to the fact that users used third-party projects in which there were vulnerabilities to store cryptocurrency. The developers focused on this.

Also, in recent years, the developers have been actively working on improving the project and eliminating the identified vulnerabilities. Therefore invest in IOTA takes place. The main thing is to respect the risks.

Is it safe to invest in IOTA online? 

The safety of online investments depends on many factors, not only on the reliability of the project itself.

Investing, as a rule, involves keeping funds for a long period of time. In this case, the place (wallet) where you store funds is important.

Investment security will increase significantly if you use reliable hardware wallets. For example Trezor. They will be able to provide maximum protection for your funds.

Therefore, after you buy IOTA in Nigeria, do not forget to hide your funds in a secure safe (wallet). Trezor isn't the only hardware wallet out there. There are other analogs as well. You can choose the most suitable wallet for yourself.

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