Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

How to buy IOTA (MIOTA) in Canada

A beginner's guide to buying and selling MIOTA in Canada.

IOTA
MIOTA- USD
$1.35
+ $0.04 ( + 2.77%)

How to buy IOTA

Look for an exchange that supports both fiat and cryptocurrency to simplify buying IOTA.

  1. Open an account on an exchange that supports MIOTA.
    Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
  2. Deposit funds into your account.
    Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy IOTA.
  3. Buy IOTA.
    Complete your IOTA purchase and then find the best wallet to store MIOTA.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is IOTA?

IOTA is a new type of cryptocurrency network that uses a technology called The Tangle to support its network, instead of a blockchain. This allows IOTA to provide users with zero transaction fees, instant transfers and theoretically infinite scalability. It is focused on microtransactions and aims to support the Internet of Things, enabling smart devices (eg, phones, fridges, cars) to talk and transact with each other. The IOTA (MIOTA) coin is used for payments on the network.

IOTA (MIOTA) is the 51st largest cryptocurrency in the world by market cap, valued at $3,706,147,502. The current price of IOTA is $1.33, which is 0.015% lower than yesterday. Prices have ranged between $1.38 and $1.31 over the past 24 hours. All prices are listed in US dollars and accurate as of October 23, 2021 03:10 UTC.

Where to buy IOTA

Find an exchange to buy, sell and trade MIOTA by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Binance Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more

314
cryptocurrencies

Promo: New users earn up to USD 100 in bonus rewards on qualified deposits and trades. Valid till 31 December 2021. T&Cs apply.
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
CA residents: Binance is not available for Ontario-based users.
Bitfinex Professional Trading Exchange
Credit card, Cryptocurrency, Bank Wire
USD, EUR, GBP, JPY

168
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, SWIFT, Wire transfer
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

228
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
loading

Compare up to 4 providers


IOTA at a glance

Information last updated October 23, 2021 03:10 UTC.
Coin symbol MIOTA
Coin Marketcap US$3,706,147,502
Total MIOTA supply 2,779,530,283
Circulating MIOTA 2,779,530,283
Current price US$1.33

IOTA price performance over time

Historical prices compared with the price of US$1.33.

1 hour 1.16%
24 hours 0.02%
7 days 0.55%
14 days 1.16%
30 days 2.67%
60 days -0.14%
200 days -1.44%
1 year 15.74%

How to sell IOTA

You can cash out your MIOTA with the same exchange you bought it through:

  1. Sign in to the exchange you have MIOTA on.
    If you store your IOTA in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of MIOTA you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of IOTA.

What to consider when buying IOTA

Before buying IOTA, make sure to familiarise yourself with some of the things that may affect the coins success, as well as the risks involved:
  • Tangle vs blockchain. IOTA uses a unique type of decentralised network known as the Tangle, instead of a blockchain, which are typically used by cryptocurrencies. The Tangle is still under development, and it remains to be seen whether it can deliver on its technological promises. While it is being developed, IOTA operates as a centralised network with a specialise node called the Coordinator used to protect the network from spam attacks.
  • Nectar. IOTA is currently testing Nectar, which is its major v2 upgrade that will remove the Coordinator and make IOTA decentralised.
  • Partnerships. IOTA has partnered with several high-profile organisations to help test its technology as part of the Internet of Things, or machine economy. Some of these companies include BMW, Audi, Dell, The Linux Foundation and numerous research bodies.
  • Currency units. When purchasing IOTA you may see it written as MIOTA, which is simply a reference to the amount of units. IOTA is highly divisible, and one MIOTA is equal to one million IOTA.
  • Use-case. Some of the proposed use-cases for IOTA network which are currently being tested include – communication between smart cars and machines, sharing unused computing power, digital ID and governance, tokenisation.
  • Risks. IOTA is first and foremost a network. The purpose of the IOTA coin is to facilitate transactions on the network, but not necessarily to hold or appreciate in value.

Disclaimer: Cryptocurrencies, including IOTA, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MIOTA is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the IOTA or any other cryptocurrency discussed.


More guides on Finder

  • How to stake Avalanche

    Learn how to stake AVAX tokens and earn rewards by supporting the Avalanche blockchain.

  • SuperRare Review and Guide

    True to its name, SuperRare is an NFT marketplace that focuses on crypto art tokenised on the Ethereum blockchain. The result is part marketplace and part social network for the artistic side of the NFT community.

  • DeFi and Web 3.0 wallets

    Find out how a Web 3.0 wallet can allow you to access the world of DeFi, plus discover which wallets we recommend.

  • What is Rarible? Review and guide

    Buy and sell unique digital assets on the largest NFT marketplace in the crypto space.

  • How to stake Theta

    Find out how to stake your THETA tokens and how Theta’s multi-BFT proof-of-stake consensus mechanism works.

  • DeFi tokens: A simple guide for beginners

    DeFi tokens compose a prominent sector in the cryptocurrency markets. Learn the basics of these tokens here.

  • How to buy Smooth Love Potion (SLP) in Canada

    This guide will show you step-by-step instructions on how to buy the Smooth Love Potion (SLP) token as well as a list of exchanges you can trade it on.

  • Mintable Review & Guide

    If you are looking to start buying, selling and trading NFTs, Mintable is one of the best places to start.

  • How to buy Quickswap (QUICK) in Canada

    This guide will show you step-by-step instructions on how to buy the Quickswap (QUICK) token as well as a list of exchanges you can trade it on.

  • How to buy Wabi (WABI) in Canada

    This guide will show you step-by-step instructions on how to buy the Wabi (WABI) token as well as a list of exchanges you can trade it on.

Ask an Expert

You must be logged in to post a comment.

Go to site