Several crypto projects are designed to address some of the specific problems of traditional payment methods. But there are also revolutionary crypto platforms working on cutting edge technology developments. A great example of such a project is IOTA, which is specifically designed for the IoT (Internet of Things).

What is IOTA?

IOTA is a platform based on distributed ledger technology. 

The project was launched back in 2016. It is specially designed to process and confirm online transactions that occur between devices and machines connected to the Internet. In other words, it stores and executes online transactions in the IoT ecosystem. The project aims to support the Internet of Things, the machine economy and the coming industrial revolution. It is important to note that IOTA, unlike most cryptocurrencies, does not work with the blockchain. It uses a registry known as the IOTA Tangle. For development, DAG technology (directed acyclic graph) was used. IOTA Tangle differs from blockchain in that it does not follow a straight-line chain. However, the platform completely decentralized follows the P2P (Peer to Peer) protocol.

IOTA (MIOTA) cryptocurrency
IOTA (MIOTA) cryptocurrency

Developers and management

IOTA is a non-profit organization registered in Germany. There are no mining rewards on this platform. This is because every device connected to the Internet on the IOTA platform acts as a node and processes two transactions. This allows the network to consume much less power compared to Proof-of-Stake (PoS) and Proof-of-Work (PoW) algorithms.

The IOTA Network is open source. Sometimes developers will post a vote for community members to vote for or against certain features and updates. The IOTA network governance model includes three layers.

What problems does IOTA fix?

IOTA is a unique crypto platform with a number of advantages. Most of the advantages of this platform are due to DAG (Directed Acyclic Graphics) technology. 

Let's talk about the main advantages:

  • Free and fast transactions.

As mentioned earlier, mining on the IOTA platform is not possible. However, this is the plus of the system, because you do not need to pay any commissions for the transaction. Moreover, all transactions taking place on this platform are fully confirmed by users. Thus, the platform does not require the intervention of intermediaries, and transactions are processed and completed in record time.

  • Resources and energy efficiency.

Cryptocurrencies such as Bitcoin, Litecoin, and Ethereum are causing huge energy consumption. This is due to the possibility of classic, hardware mining. Thanks to IOTA Tangle, all inefficiencies in the use of electricity have been eliminated, so the cryptocurrency can be considered environmentally friendly.

  • Ternary computation.

Instead of using binary logic, IOTA uses ternary computation. It is a more efficient and effective approach when it comes to cryptography, graphics processing, vector processing, artificial intelligence logic, artificial neurons and neural networks.

  • No inflation.

The total supply of IOTA coins is now constant and the creation of new tokens is not possible. This means that the platform is not subject to inflation and the value of the coin can never decrease due to the increase in the number of coins.

  • Quantum proof.

IOTA could threaten traditional cryptography systems due to quantum computing, which has unprecedented computing power. It is believed that the IOTA network is quantum protected, and it is impossible to hack the system.

IOTA benefits
IOTA benefits

The Perspective of the Internet of Things (IoT)

Lights, drones, refrigerators, cars and many other objects can now connect to the Internet. Once a machine or device connects to the Internet, it can communicate with other connected devices. In simpler terms, the interconnection of devices and machines on a larger scale is called the IoT (Internet of Things). This technology has become a reality, and its consequences in the future will affect the daily life of everyone.

One of the biggest challenges to properly operating and managing the IoT is that over time, devices and machines generate more information and data than ever before. It is very difficult for traditional networks to manage all this information. 

According to Fortune Business Insights, the IoT market will reach nearly $ 1.5 trillion by 2027. 

Through technological innovation, IOTA can become an important part of the new global ecosystem.

What is IOTA cryptocurrency?

As mentioned, IOTA is a unique distributed ledger and its own cryptocurrency is known as MIOTA. This is the official coin that is used on the platform and is designed to achieve efficiency in the IoT. Moreover, the creators of MIOTA are looking to expand beyond blockchain by expanding the use cases for cryptocurrency.

IOTA cryptocurrency
IOTA cryptocurrency

IOTA cryptocurrency performance

IOTA was able to reach a market capitalization of $ 10 billion just a year after launch. 

At that time, the price of one MIOTA coin was $ 5. This was the price record for this cryptocurrency. Subsequently, the cost began to decline, and this continued until 2016. By this time, the capitalization had decreased to $ 447 million, and the price of 1 MIOTA was only $ 0.16.

Like most cryptocurrencies, IOTA has grown again in 2021. The cryptocurrency managed to achieve a market capitalization of US $ 7 billion.

IOTA's long-term behavior and performance depends on many factors, but the most important of these is its high volatility. Undoubtedly, this increases the chances of making more profit, but it also increases the risks associated with investing.

How to buy IOTA (MIOTA)?

According to statistics for 2017, the IoT sector has crossed the $ 100 billion mark, which testifies to the unprecedented potential of IOTA. The platform can truly revolutionize the entire IoT industry with its innovative initiatives.

The decision to buy IOTA in Somalia can be a great investment. But at the same time, you must be mindful of asset volatility. To determine if such an investment is right for you, you need to evaluate current market performance, underlying technology, and historical data. It is only on the basis of this information that a decision can be made whether IOTA is a good investment decision.

How to buy IOTA (MIOTA)?
How to buy IOTA (MIOTA)?

Where to buy and store IOTA cryptocurrency?

Cryptocurrency exchanges

Like the rest of the coins among the most interesting to investors, IOTA is listed on many large and small exchanges. There are about 15 of them in total, which is quite enough even to make money on arbitration. You can buy a coin for BTC, ETH, USDT, BCH, BNB and OKB, for fiat USD, EUR, GBP, JPY and KRW.

In general, the picture is relatively good: investors who work exclusively with exchange accounts and simultaneously with several dozen cryptocurrencies are quite interested in IOTA.

Popular crypto exchanges: 

• Binance;

• Okex

• Huobi

Cold wallets

Since the platform is less promoted than BTC and ETH, there is some problem with cold wallets. The developers offer the Trinity wallet available in mobile and desktop versions. Its beta version was presented in August 2018, but a fully functional version is still under development. You can download the wallet for any operating system on the IOTA website.

Select the crypto wallet: 

• Iq Wallet; 

• Coinpayments wallet;

• Trezor wallet.


You can also invest in IOTA in Somalia through online brokerage platforms.Trading cryptocurrency with brokers is another option for earning money, which has a number of advantages:

  • Brokers are not hacked (unlike exchanges and various kinds of wallets).
  • There is an opportunity to make money on a short position, that is, you can make money on a fall in the exchange rate.
Invest in IOTA (MIOTA) through online platform
Invest in IOTA (MIOTA) through online platform

What is CFD trading?

CFD, a contract for difference, allows you to trade not by the asset itself, but only by its price. 

CFD trading will allow you to speculate on price movements (up or down), while the investor gets all the benefits that are associated with trading stocks without actually having them.

In other words, it is a contract between a client and a broker that allows you to exchange the difference between the value of a security at the moment and its value at the end of the contract.

Before the appearance of such contracts, only large players could trade this instrument, since the cost of opening a deal was tens, or even hundreds of thousands. Contracts for Difference have expanded the range of market participants, opening up access to traders with different levels of capital.

In fact, trading such a tool is no more difficult than trading real stocks. The only difference is that the contract is concluded in relation to the price, and the trader does not receive ownership of the asset itself. 

How to invest in IOTA?

It's easy to get started investing in IOTA in Somalia. When you have already found a reliable and trusted broker, go through the registration to buy MIOTA: 

  • Enter your name and email address in the appropriate fields.
  • A letter will come to the mail, follow the link from the letter.
  • You are back on the platform and you can start trading.

We recommend that you first take the opportunity to practice and open a demo account. There is already some amount on it.

What does a demo account give?

  • Possibility to get acquainted with the trading terminal application interface.
  • You learn to use instruments and orders.
  • Try strategies in real trading.

All exchange prices on a demo account exactly correspond to real ones.

Then activate your live account and start trading CFDs. It is very easy to make a deposit with real money on the platform. Money is credited instantly. Each platform sets its own minimum deposit threshold. But usually it is a few dollars. There are several ways to make a deposit, you just have to choose a convenient option. The most common are bank cards, bank transfers, or e-wallets.

Try it and you will succeed!

The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose