IOTA is about to 🚀 — here’s how to get your ticket

Note — This guide is for crypto beginners and serves to be the easiest route to buying IOTA.

In the past month, IOTA value grew 850+% from $.30 to $3.00+. If you’re like most newbies, you probably didn’t get a chance to participate because it’s often confusing and difficult maneuver around the different platforms.

That is why this guide was created to make it as easy as possible to understand.

What is IOTA?

“IOTA is an open-source distributed ledger (cryptocurrency) focused on providing secure communications and payments between machines on the Internet of Things, an economy estimated to be worth over $2 billion annually by 2020.”

What does that mean?

For example, imagine someday that an autonomous self-driving car needs to pass another car on the freeway, self-driving car A will have to send a micro-payment to self-driving car B in order for A to pass. IOTA will make this happen seamlessly with the technology that they are developing.

How would the transaction work?

There will have to be an underlying service to make this action happen in the future. IOTA is creating that service and infrastructure and has partnered with the likes of Samsung, Microsoft, Fujitsu and others to develop it.

Although this is one use case, the implementation possibilities are limitless.

Credit: Downthestreet.tv

How is IOTA different from all the others?

Unlike a lot of cryptocurrencies that are usually built on the blockchain, IOTA’s underlying technology uses a system that is referred to as the “tangle,” which is a bit different than traditional ‘blockchains” — See image below.

However, for sake of time, I won’t get into the weeds in regards to the technology.

Check out the IOTA whitepaper if you’d like to learn more.

See the difference? Ready to ‘tangle’?

Ok, let’s get down to business!

1. Sign up for a coinbase account (if you don’t have one). You can grab one w/ my referral and get an extra $10 in BTC for free!

Note: if you used my referral link, the screen will look a bit different.

2. Once your account is approved, you’ll be able to fund it by adding a bank account, debit card, or credit card.

3. Purchase BTC/ETH — Note — you do not have to buy a whole coin.

4. Once you’ve added money to your Coinbase, create a Binance account. Here’s a referral to Binance.

Note: If you used my referral link, the screen will be different.

5. Fund your Binance account w/ Coinbase by clicking “funds” on the Binance toolbar.

a. Find the type of of currency you’ll deposit to your Binance account. For this example, We’ll be sending BTC from Coinbase to Binance.

b. On Binance, click the yellow “Deposit” button to find your “BTC Deposit Address”.

c. Head back to Coinbase — Click on the “Accounts” tab and click “Send” on BTC Wallet section. Copy the “BTC Deposit Address” from Binance to your Coinbase “Recipient” section — double check to see if it’s correct, make sure to not send BTC to an ETH wallet!

d. Click “Continue” on Coinbase once you’ve added an amount to send to Binance.

e. Depositing funds from Coinbase to Binance may take a while, so don’t freak out. It took almost a whole day for funds to show up in my account.

6. Once the funds have been received by Binance, you’ll get an email verification.

7. When you receive the email from Binance that your funds have transferred, head over to the homepage and click on “BTC Markets”. Type in IOTA in the search section and click on the “IOTA/BTC” tab once it filters.

8. Find the “Buy IOTA” box and type in the amount of IOTA you’d like to buy.

Note: Depending on how much BTC/ETH you’ve deposited to your account, Binance will let you know how many IOTA you can buy.

9. Once you’ve clicked “Buy IOTA”, Binance will do its magic and soon you’ll have IOTA in your Binance wallet. You can click “Orders” dropdown at the top to see if your transaction went through.

Tada… IOTA in your pockets.

To infinity! 🚀

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If you enjoyed this post and want to send BTC/ETH as a thank you, please send to one of these wallets. :)

BTC: 19wxUvzphQT32ie3tCNL1t8ySDHBVhuii9

ETH: 0x5F5322239a7df66Cb62426d6D8a407e75073b8fd