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How to buy IOTA (MIOTA) in the UK

Learn how to buy IOTA (MIOTA) on 2+ crypto exchanges in our step-by-step guide.

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Capital gains tax on profits may apply.

IOTA (MIOTA) is the 81st largest cryptocurrency by market cap, valued at US$560,630,464.

IOTA is a highly volatile asset capable of major price swings in a single day. Today MIOTA is trading for $0.201804 USD, which is lower than yesterday's trading price of $0.2027144718 USD. Over the past year, IOTA's price has seen a decrease of -43%.

So before you buy IOTA, make sure you understand these unique risks as well as its legal and tax status here in the UK.

If you're ready to get started, read on for step-by-step instructions on how you can buy IOTA.

How to buy IOTA in 4 steps

The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.

  1. Compare crypto exchanges
    The easiest way to buy IOTA is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
  2. Create an account
    To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
  3. Make a deposit
    Once verified, you can deposit GBP using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
  4. Buy IOTA
    You can now exchange your funds for IOTA. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your IOTA to your personal wallet.
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Where to buy IOTA in the UK

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 exchange.

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.
1 - 3 of 3
Name Product Deposit methods Fiat Currencies Cryptocurrencies Offer Disclaimer
eToro UK Cryptoasset Investing
Finder Award
eToro UK Cryptoasset Investing
Bank transfer, Credit card, Debit card, Neteller, PayPal, Skrill, eToro Money
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK

76
cryptocurrencies

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Uphold - Digital Asset Platform
Uphold - Digital Asset Platform
Bank transfer (ACH), Debit card, Apple Pay, Google Pay
USD, GBP, AUD, EUR, CAD, CNY, JPY, SGD, INR, NZD

214
cryptocurrencies

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View details
CEX.IO Cryptocurrency Exchange
4.5★★★★★(16)
CEX.IO Cryptocurrency Exchange
Bank transfer (ACH), Credit card, Bank transfer (SEPA), Faster Payments Service, Skrill
USD, EUR, GBP, RUB

144
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk.
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How we keep this IOTA guide up-to-date

  • MIOTA price data is regularly updated through data feeds so you always have the latest information.
  • IOTA performance data is regularly updated using automated comparisons and AI systems built by our technical experts Zak Killermann and Helen Hu.

How do I find the best places to buy IOTA?

Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the UK to help you choose the one that's right for you.

Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.

What will I need to buy IOTA?

To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.

An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading IOTA.

  • This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
  • Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing MIOTA with your local currency then you will need to pass KYC.
  • Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.

What is the easiest way to buy IOTA?

The easiest way to buy MIOTA is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.

Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.

Before buying MIOTA, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of IOTA has been performing recently.

Best IOTA wallets to store your MIOTA

You can keep your MIOTA on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your MIOTA below.

Ledger Nano X Wallet

Trezor Model T Wallet

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Supported assets

5,500+

Supported assets

1,317+

Price (USD)

$149

Price (USD)

$186

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Is IOTA a good investment?

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.

Today's IOTA price versus ATH

Compare today's price of IOTA ($0.201804 USD) against its all-time-high price of $5.25 USD on 19 December 2017. The closer the bar is to 100%, the closer MIOTA is to reaching its ATH again.

IOTA's price: $0.201804
ATH date: December 19, 2017
3.84%

IOTA ATH: $5.25


How to trade, convert or sell IOTA

You can convert or sell your MIOTA with the same exchange you bought it through:
  1. Sign in to the exchange you have MIOTA on.
  2. If you store your IOTA in a digital wallet, compare crypto exchanges to convert or sell it on.
  3. Choose Sell or Convert and place a sell order.
  4. Choose the amount of MIOTA you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of IOTA.
  6. Complete your transaction and move your MIOTA to a wallet for storage.
  1. Data by CoinGecko

* Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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