Buy IOTA (MIOTA)
Crypto Industry continues to grow. Since the winter of 2017, when bitcoin began to skyrocket, hundreds of ideas are all equally created on the block. The growth of the number of cryptocurrencies, for example, Tether and with them, and interesting solutions. At first, everything copied the BTC functionality. Later, the teams began to look for an alternative application to the blockchain and tokens that functioned within the network. There is an attractive option - IOTA, a very advanced script. A platform with a cryptocurrency, created for a specific task - to help develop the Internet of Things (IoT).
What is the Internet of Things?
All devices controlled over the Internet are elements of the IoT. Bo many presupposedly automatic interoperability between items without direct human involvement. A simple example is a smart home. In accordance with the preset settings, it maintains the temperature and, by timer, turns on the boiler for heating, so that the water remains warm for the next time. The value went far beyond the limits of private housing and private things. Air pollution detectors, analysis of faults and centralized control of lights, taking into account the situation, drones, monitoring weather or forest fires.
IoT - can lead to an ordinary technological revolution, automatizing a lot of processes, and making them necessary. Technology is efficient with a dynamic height that is attractive for investors.
Features of IOTA (MIOTA)
The name IOTA comes from the English IoT (Internet of Thing) - the Internet of things. The purpose of this cryptocurrency is to unite all devices that are connected to the internet. Initially, the developers decided 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 fees or restrictions on minimum payments. This allows you to carry out transactions even in the amount of 1 coin (one thousandth of a cent).
The history of the creation of IOTA
The founder of the currency is David Sonstebo, who, together with his own initiative group of developers gathered in Germany, began the development of the IOTA cryptocurrency. According to some sources, the platform has been under development since 2011. The launch of the project took place in October 2016. And already in December, the collection of investments was opened, which helped the developers to receive funds for the development of the project.
On the exchanges, the cryptocurrency appeared only by the middle of 2017.
The official start date for trading on the Bitfinex exchange is 06/13/2017, it was there that the currency called IOTA first appeared.
Almost on the same day, the coin acquired a fairly high capitalization, which attracted the attention of investors in the cryptocurrency market.
IoT technology is now used on almost all smart devices. It consists in the possibility of objects interacting with each other using the Internet. As a result, a system was made with secure communication channels, as well as its own IOTA payment unit.
According to the creators' idea, with the help of the platform, users will be able to rent their own equipment - from the place on the hard drive to the mining capacity, as well as publish information, for example, about the products produced in real time.
Unlike most cryptocurrencies, IOTA does not use blockchain technology. Instead, a new technology, Tangle, is used, which does not use blocks. This is a system with many ramifications, each of which is capable of developing along its own path. The main differences between IOTA and the cryptocurrencies available on the market are the following:
- The IOTA platform ignores the difference between ordinary users and those who can confirm transactions. Therefore, in order to receive confirmation of your transaction, it is enough to confirm two strangers. 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 at peak loads.
- The number of transactions and the amount of each of them are not limited in any way.
- Network participants can settle among themselves offline, uniting in clusters.
- New encryption methods are provided to increase the security of transactions.
- Centralization of the IOTA platform and its tokens is impossible, this allows the system to function stably, even if some part of it fails.
Experienced cryptocurrency market players may notice that these features completely overlap the weaknesses of Bitcoin. However, the general public learned about such a currency as IOTA and its advantages not so long ago (earlier only developers and direct contributors to the startup knew about them, who received the first tokens in exchange for their investments). By the way, there are still no analogues on the cryptocurrency market.
What are IOTA's specifications?
Developers are constantly working on expanding partnerships, and are looking for different areas of application of technology. More than that, one of the publishers before the appearance of the project had already worked in the sphere of the Internet. Together with the Stealth start-up, it launched the production of processors for IoT, where the emphasis is on ultra-low power consumption. Now, in the current framework, new processors have been released and they should be increased even more and, without that, the high speed of transactions and the payback of mining.
In 2017, the IOTA Foundation was created in Germany. The main task is to attract investment for development and until then it will be successful.
In addition to those mentioned above with Jaguar and Land Rover, the agreement with Averу Dennison Corporation should be noted from the last large partnership agreements. The world manufacturer of protective films, a biocap for clothes and paper for the medical and food industry. In general, taking into account the originality of technology, and the linkage to a very advanced industry, as well as contracts with large brands, the IOTA cryptocurrency is waiting for the future. Although there are a number of things that need to be addressed.
Where can you buy IOTA in Kenya?
Due to the youth and non-standard nature of this cryptocurrency, not all trading exchanges can buy IOTA. Initially, there were only two, but now the choice is noticeably wide.
The currency for exchange can be bitcoins, Ethereum or dollars. The most popular pairs for trading with BTC and USDT. It is possible to trade as a cryptocurrency such as ETH, LTC, as well as fiat in the form of EUR and GBP.
Popular crypto exchanges:
Someone diversifies the risks of trading on different markets and will use different currency pairs, and it is an excellent option.
Soon, the list of sites where you can buy coins is planned to be increased. Also, cryptocurrency is available for purchase on some exchangers.
You can buy MIOTA and store it in your wallet. At the moment, the ability to store a token is implemented on a specially designed official wallet - IOTA Wallet.
Choose the crypto wallet:
1. Iq Wallet.
3. Trezor wallet.
Also, you can invest in IOTA in Kenya without buying coins.
How to Invest in IOTA in Kenya?
What is CFD trading?
CFD trading means "Contracts for Difference". Contracts are based on a financial asset, so you don't need to buy a real asset to trade it, only a derivative asset (CFD).
CFDs have unique characteristics, you must understand them all in order not to confuse them with a derivative:
- The trader profits from the difference in buy and sell prices, he always chooses to buy or sell at a certain price, and expects the CFD to move in favor of his operation, so he closes the order.
- CFDs are short-term investments and cannot be held as stocks. You can only buy and sell !!
- Trading CFDs has leverage that can maximize your profits, so the opportunity to profit from CFDs can be more attractive than buying stocks.
If you have already decided to trade cryptocurrency, select a trading platform and register.
Registration on the platform
- Provide name and email address.
- A confirmation letter will be sent to the specified address.
- Follow the link from the letter and registration is over.
Many sites provide an opportunity to open a demo account and practice. Do not neglect this opportunity.
You only need a few dollars to open a real account. You can top up your account in any way convenient for you: using a debit or credit card, as well as through payment systems. Once the payment has been credited, you can start investing.
Try it and you will succeed!
IOTA Investment Security
IOTA's Security Issues: Advantage or Weakness?
One of IOTA's weaknesses may be its security. In general, its detractors are not talking about speed, not about the potential in the Internet of Things, not about insignificant commissions, but about one of the key points of cryptocurrencies - vulnerability.
In 2017, shortly after launch, IOTA experienced a wallet hack that resulted in a price hack. This security breach led to the loss of a large volume of transactions and, above all, support from large companies, as they feared that the network was not yet mature enough.
In fact, before the hack, it held a privileged place among the main cryptocurrencies (included in the top 5), with a market capitalization of more than $ 12.5 billion.
In February 2020, it was attacked again, so the IOTA Foundation was forced to shut down its entire network for a week after hackers exploited a vulnerability in the official network wallet application to steal user funds.
To avoid further problems, IOTA periodically updates its protocol to improve network performance and, spatially, system stability and security.
The last update, IOTA Chrysalis, happened in April 2021. The cryptocurrency moved away from the previous protocol and moved to a new, more reliable and secure one, which provides new tools for programmers, companies and exchange offices.
How to protect yourself from cryptocurrency theft?
Experts explained how ignorance of security rules can turn out, and gave recommendations to help protect digital assets from intruders.
To be sure of the safety of their funds, many sites are improving their methods of protection. But this should be taken care of by ordinary users who use cryptocurrency. Ignoring safety rules can lead to the fact that all savings will be irretrievably lost.
Experts gave recommendations to help protect digital currency and prevent cybercriminals from stealing it.
To work with cryptoassets, you need to use separate accounts, for example, email and phone number, which are different from the main ones. In this case, even when comparing public data, the accounts will be safe from fraudsters. Also, in no case should you disclose personal data in the public domain, for example, on social networks, instant messengers or blogs. You also need to use a separate email and phone number that are not involved in other resources. It is important to use the phone number that belongs to you, so that, if necessary, it will be possible to restore the SIM card.
Two-factor authentication will help provide additional account protection. Combined with other security measures (for example, a number of platforms allow setting additional passwords for transactions), it can significantly increase the level of account security. You must use the maximum set of security features: SMS confirmation, anti-phishing code, two-factor authentication and an email verification code.
We recommend dividing the cryptocurrency into different storages so that when gaining access to one wallet, fraudsters do not have the opportunity to steal all funds. Small amounts can be kept on exchanges and their online wallets, but larger savings are best kept on hardware devices.