How to Buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase MIOTA on BYDFi. We'll guide you through it
Choose how to purchase MIOTA on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (MIOTA). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 700+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store MIOTA in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your MIOTA to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy MIOTA on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive MIOTA
Trade
Answers
What Is IOTA (MIOTA)?
IOTA is a distributed ledger with one big difference: it isnt actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains — and an ideal footprint for the ever-expanding Internet of Things ecosystem.
To learn more about this project, check out our deep dive of IOTA.
Because theres no blockchain, there are no miners, and because there are no miners, there are no fees. Many established networks see costs balloon when congestion intensifies, but IOTA aims to provide limitless throughput at minimal expense.
In time, IOTAs goal is to become the de facto platform for executing transactions between IoT devices. Given how estimates suggest there could be 20.4 billion such devices out there by 2024, this could end up being big business.
The team behind IOTA believe that the potential use cases dont end here. They believe their distributed ledger could deliver digital identities to all, result in car insurance policies that are based on actual usage, pave the way for cutting-edge smart cities, deliver seamless global trade and prove the authenticity of products.
Originally known as Jinn, a crowdsale for the project was held in September 2014, and the network officially launched in 2016.
Who Are the Founders of IOTA?
IOTA has four co-founders, and their names are Sergey Ivancheglo, Serguei Popov, David Sønstebø and Dominik Schiener.
According to the IOTA Foundation, the initiative has rapidly grown since then — and team members are now based across more than 25 countries.
Sonstebo and Schiener are collectively co-chairmen of the board of directors, while Popov is a board member and the foundations director of research.
Ivancheglo resigned from the Berlin-based project back in June 2019 but continues as an unofficial advisor. At the time, he said in a statement: I no longer believe that the IOTA Foundation is the best setting for me to realize what we set out to create back in 2014 and 2015. I have always done my best work in a less rigid environment. I am looking forward to continuing the work on both hardware and software development of IOTA independently.
What Makes IOTA Unique?
Well, as we alluded to a little earlier, the fact that its effectively a blockchainless blockchain is rather unusual to say the least.
Tangles more technical name is the Directed Acyclic Graph — and as Sønstebø explained in a blog post back in 2015, this technology aims to retain blockchains ability to execute secure transactions. The only difference is that it does away with the notion of blocks.
He also wrote: IOTA should not be considered an alternative coin (altcoin) to existing cryptocurrencies such as Bitcoin, rather it is an extension of the growing blockchain ecosystem. Its meant to work in synergy with these other platforms to form cohesion and symbiotic relationships. IOTA is designed to provide one solution that no other crypto does: efficient, secure, lightweight, real-time micro-transactions without fees.
New transactions are validated by approving two previous transactions from another node — and this is a novel approach because it means that the networks size and speed will be directly related to how many people are using the platform.
And whereas some cryptocurrencies are run as a business, the IOTA Foundation says it is firmly not for profit — adding that it has the sole goal of making the network as prosperous as possible.
Finally, IOTA has distinguished itself from many other crypto rivals by establishing high-profile partnerships with the carmaker Volkswagen, and helping the city of Taipei to pursue smart projects.
Read our deep dives into the latest crypto technology
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How Many IOTA (MIOTA) Coins Are There In Circulation?
How is the IOTA Network Secured?
Where Can You Buy IOTA (MIOTA)?
MIOTA is available on several exchanges. Many people prefer buying MIOTA on Binance, Bitfinex, and OKEx. The project offers various trading pairs, connecting the token with Bitcoin, Ethereum, stablecoins, and fiat currencies such as the Japanese yen, euro, pound, and dollar. You can find more information about fiat on-ramps here.
