[IOTA Cryptocurrency] Is it worth investing in IOTA in 2018?[Future of IOTA coin]
I hope you all are doing great and thank you once again for such an overwhelming response.I am only covering the topics that you all want me to talk about.Incase you are a new reader on my blog then I welcome you from core of my heart .It's a humble request please do reader about some detailed artlcles on cryptocurrency before moving further.
Already I have written detailed article on above topics because from my point of view a clear idea about these topics lay proper foundation for cryptocurrency trading.I have been trading in cryptocurrency and I love sharing my experience.I do read a lot about cryptocurrency to acquaintance myself with latest development.
As per your mails,request and demands we will be first discussing about 'What is IOTA ?' and then trying to answer most frequently asked questions.
[What is IOTA?]
In simple words iOTA is a cryptocurrency,designed for "Internet of Things".Incase you have a basic working knowledge of IoT then it's great you can buy IOTA and start trading right away.Don't worry if you are new to this topic I will help you understand "What is IoT?"
IoT can be defined as the process in which physical objects are connected through internet network and they work together to collect and exchange data via embedded sensors.You can find the application of IoT in day to day work.Cars,Computers,Kitchen appliances,Microchips etc are all part of IoT.Coming back to IOTA,let's call it "backbone of IoT".IOTA aims at becoming standardized ledger for IoT.In financial term we can call it machine to machine(m2m) economy.
Just think of a hypothetical scenario in which your solar panel is contacting your neighbour's computer for selling electricity without your knowledge .For sure your first reaction will be "Is the writer crazy?".Trust me guys what seems impossible today is going to be a part of our routine in near future.So you can atleast guess now the power of IoT.
[Can you explain How does IOTA cryptocurrency works?]
Unlike Bitcoin,IOTA is a blockless and totally decentralized cryptocurrency.It means their is no transaction fee to be paid to miners as in the case of Bitcoin.Secondly their is no fixed limit on the number of transaction to be confirmed per second.Isn't it interesting?
IOTA cryptocurrency uses a network named 'Tangle' which exploits the mathematics concept "Direct Acyclic Graphs".In order to make it's own transaction valid IOTA has to approve two valid transaction in other IOTA wallet.IOTA has increased it's potential by removing miners.Thus creating an ecosystem free of middleman.Best part about IOTA is more the users it has faster will be it's network.
[Is it worth investing in IOTA?]
It totally depends.I mean to say what is your short and long term goals?What fraction of your disposable income you want to invest?What is your priority?No one other than you can answer these questions for yourself and take the decision.I will be sharing my opinion to the best of my ability.
IOTA has come up with an innovative technology that helped IOTA to not only come in limelight but also got mentions from tech giant like Microsoft and Samsung.I will totally support investing in IOTA .Cryptocurrencies like Bitcoin and Ethereum were not successful when it comes to micro payment.The reason is the third party mechanism they follow for mining etc.This problem is solved by IOTA which comes with completely new technology with four prominent features as stated below.
- IOTA has instant and cost free transaction.
- IOTA has a great innovator team.
- IOTA is in process of partnering with major tech giant.
- It's highly innovative nature is well appreciated.
Below chart will give you a brief idea about the movement of IOTA coin.
[How can I buy IOTA cryptocurrency in India?]
You can't buy IOTA from fiat money.You need to first buy Bitcoin or Ethereum from your currency and then you can exchange it for IOTA.Their are quite a few exchange available for buying IOTA but if you will ask my preference then it's one and only BINANCE. I will explain you the step by step process to buy IOTA.
- Create an account on Binance - Create BINANCE account
- Provide your personal credentials like name,address,email,phone number etc.
- To activate your account you need to click on the verification mail sent to your inbox.
- After verification you can login in your account .You will be redirected to Binance dashboard.
- Now deposit Bitcoin in your Binance account from Zebpay or any other wallet that you are using.
- To deposit Bitcoin you need to select bitcoin deposit option and send coin to the given address.
- To buy IOTA click on the exchange button and search for IOTA.
- Select BTC/IOTA or Ethereum/IOTA depending upon your currency you want to exchange for.
- Enter the amount and click buy.Congrats you are done.
Note:The best thing about Binance cryptocurrency exchange is that you can earn also by referring others.
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