We recently taught you how to get one free stock in a company in 5 minutes. Now we want to tell you how to buy IOTA. If you live in the US, the easiest way to go about how to buy Iota is to sign up for Coinbase & Binance accounts. There are other ways you could think about how to buy IOTA but for US customers this is simplest. There are also tips and tricks to save money but this article serves to get you started.
- Sign up for Coinbase and buy Bitcoin.
- Sign up for Binance.
- Send your Bitcoin from Coinbase to Binance.
- On Binance, exchange your Bitcoin for Iota.
Step by Step
Knowing how to buy IOTA isn’t all that difficult. But use our guide to help.
1. Sign up for Coinbase
- Go to Coinbase and sign up. You’ll need to verify your email, phone number, and bank account.
- Then, go to Coinbase.com/buy. After choosing your payment source and how much you want to buy, click Buy Bitcoin.
2. Sign up for Binance
- Go to Binance and sign up for an account.
- Verify your email.
3. Send Bitcoin from Coinbase to Binance
- Log in to your Binance account.
- On the top of the screen, hover over Funds and click Deposits Withdrawals.
- One the next page, you will see many rows of cryptocurrencies. Find the Bitcoin row and click the corresponding deposit button.
- Now, go to Coinbase.com/accounts and click “Send” under your Bitcoin wallet.
- Paste your BTC Deposit Address (which you just copied from Binance) in the Enter a BTC Address field.
- Enter your desired send amount, and press Continue to send your Bitcoin to Binance.
- To see whether this transaction has completed, go to Binance Transaction History. It can take 1–3 minutes for the transaction to appear, and 10–30 minutes for it to be fully confirmed.
4. On Binance, exchange your Bitcoin for Iota. This is how to buy IOTA.
- Go to Binance’s BTC–IOTA exchange: www.binance.com/trade.html?symbol=IOTA_BTC (P.S. This page may look complicated. Hang in there!)
- In the middle of the page you will see a chart. Just below the chart, there is an interface (below). If Limit is selected, then click Market.
- After the Market tab is selected, click 100% (this means “convert all of the Bitcoin in my Binance account into Iota”).
- Then click Buy IOTA.
- To view your newly purchased Iota, go back to the Deposits/Withdrawals page on Binance.
Note: if you are familiar with Ethereum, you could adapt this guide to use Ethereum instead of Bitcoin. We used Bitcoin to make the process as simple as possible, but if you feel comfortable with our guide on how to buy IOTA, you can do it right away with ethereum.