How To Buy IOTA In Ireland

Last Updated July 23rd 2021

5 Min Read

A Beginner’s Guide to Buying and Selling IOTA Cryptocurrency in Ireland

If you’re based in Ireland and wish to buy IOTA – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many IOTA tokens you want to buy.

The cryptocurrency market's performance attracts the interest of investors since the beginning of the year, and the IOTA altcoin has been on the frontline in this regard. IOTA is an open-source distributed cryptocurrency set up to allow data exchange between any data recording machine as part of the Internet of Things. A key element for this coin is that it is not a Blockchain solution as the coordinator serving as a central control feature defies the idea of Blockchain as distributed crypto technology.

Suppose you fear the high level of risk associated with cryptocurrencies. In that case, you need to be cautious when investing in this market because you can end up losing most of the funds you invested. However, when the market forces favour you, finding this space very lucrative with great returns is possible.

What’s in This Guide?

This guide will take you slowly through all the steps involved in buying IOTA in Ireland. Even though the token may not be as popular as Bitcoin or Ethereum, it still has growing popularity within the crypto community.

The following guide is detailed enough to help you learn how to buy IOTA in Ireland. However, it is paramount that you first consult with a financial professional to invest your savings in crypto. You can also follow some established crypto traders on Twitter to gain trading insights.

How To IOTA In Ireland – Quick Guide

To help you buy IOTA coins as quickly as possible, we broke the process down into a few easy steps:

Step 1: Open an account with eToro – Head to eToro’s website and click join now to open a new account.
Step 2: Verification – By uploading essential documents that show proof of identity and home address, you will get your account verified in a short time.
Step 3: Deposit – Fund your new eToro account with a minimum of $10.
Step 4: Search for IOTA on eToro – Search for MIOTA or IOTA in the eToro crypto market.
Step 5: Buy MIOTA – Enter the amount of the worth of IOTA you want to purchase in United States Dollars (USD), then click Open Trade.

That’s it! By following these easy steps, you can invest in IOTA in Ireland in less than 5 minutes.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Where To Buy IOTA In Ireland

In Ireland, you can only buy IOTA from a licensed and regulated crypto exchange in the country. There are several crypto exchanges in Ireland, and all you need is to select the one you think would be best suited to your needs. The most important factor to consider is whether the exchange supports IOTA tokens.

List of the best Exchanges to buy IOTA (MIOTA) in Ireland:

Looking where to buy IOTA in Ireland right now? Below you will find 4 of the best brokers that allow you to buy IOTA in Ireland.

eToro - Best broker to buy IOTA (MIOTA) in Ireland
Binance - Best exchange to buy IOTA in Ireland for asset diversity
Coinbase - Best exchange to buy IOTA (MIOTA) for beginners
OKEx - Best broker to buy MIOTA in Ireland for low-cost

A Step-by-step Guide To Buying IOTA In Ireland

There are two options you can select from when buying IOTA in Ireland. Either you can buy the tokens using other cryptocurrencies, or you can use fiat currency.

Buying with other cryptocurrencies

First, it would be best to buy the other cryptocurrency that you will later trade in purchasing the IOTA tokens. Once you have these in your exchange account, you can change them for IOTA tokens by selecting pairs listed as BTC/IOTA or ETH/IOTA.

Buying with fiat currency

To buy IOTA tokens using fiat currency is the most straightforward option. All you need is to deposit a specific sum of EUR to the exchange and choose a pair listed as EUR/IOTA.

Follow these simple steps when buying IOTA in Ireland.

Step 1: Register with an exchange

The first step is for you to register your details at an exchange account. All you need is your name, telephone number, email address, and physical address. Afterwards, you will have to verify those details by uploading supporting documents to the exchange.

Setting up your account is an easy process that will take minutes, although you may have to wait longer for the account to be verified. Noteworthy is that you need to secure your account using a multi-factor authentication process. The process will prevent impersonators from attempting to steal funds and tokens from your account.

Step 2: Fund your account

The third step is for you to fund the account. You can deposit EUR to the exchange by using a credit card, debit card, or you can directly link your bank account to the exchange. Once your account has the funds you want, you can exchange these for IOTA.

As mentioned earlier, you cannot only buy IOTA with EUR, but you can also use other cryptocurrencies. In this case, all you need to fund the account are the other cryptocurrencies you can exchange for IOTA.

Step 3: Buy IOTA

Once your account has the required funds, the next step is for you to buy IOTA tokens now. To do this, go to the purchase side of the exchange, enter the amount of EUR or other cryptocurrencies that you would like to exchange for IOTA. Confirm your transactions, and you will later receive a notification in your email detailing your transaction. The exchange account will then display the number of IOTA tokens you have purchased will later be displayed on the exchange account.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

How To Sell IOTAs

If you want to sell IOTA tokens, you can repeat the same process as the one for buying the tokens, only that this time you will do so from the sell side of the exchange. Go to this section, enter the amount of IOTA you want to sell, and confirm your details.

You can either sell IOTA directly with EUR, after which you can withdraw it from the exchange, or sell IOTA for other cryptocurrencies.

Which Wallets Can I Use To Hold IOTA?

Once you have bought IOTA tokens, you need to find a way to keep these tokens safe from online interference. There are two types of wallets you can choose from; mobile wallets and hardware wallets.

Mobile wallets are hot wallets that will easily transfer tokens to the exchange whenever you want to sell. Hardware wallets are cold wallets that will store your tokens off-line and HODL for a long time.

How IOTA Works

IOTA works the same as other cryptocurrencies. The tokens help in powering decentralized technology that makes transactions superior to those on centralized financial platforms. These tokens help create anonymity in financial processes, and they make transactions faster, cheaper and faster.

Key Things To Consider If You’re Thinking About Buying IOTA In Ireland

Some things you need to consider before buying IOTA in Ireland include:

Volatility

Volatility refers to rapid price movements in a market. Cryptocurrencies are very volatile, and this makes investing here very risky. It would be best if you considered this high level of risk before buying IOTA.

Availability

Availability refers to how many tokens are available for buying and selling. High circulation of a token is important because it ensures high liquidity that will allow you to buy and sell easily.