A Market order will purchase the maximum amount of IOTA available for the Ethereum amount youve chosen to spend. It will purchase the cheapest available IOTA until it has filled this amount.

There are currently only two exchanges with significant trade volume of IOTA, neither of which accept fiat currency (USD, EUR, etc.) deposits. If you dont already own another cryptocurrency and want to purchase IOTA, youll first need tobuy BitcoinorEthereum. You can then send your Bitcoin or Ethereum to one of the following exchanges and trade it for IOTA:

Theres a large number of cryptocurrencies available to deposit ontoBinance, although trading pairs are denominated inBitcoinEthereum, andUSDT (Tether). For this example, Ill be depositing Ethereum.

If you dont already own another cryptocurrency and want to purchase IOTA, youll first need to buy Bitcoin or Ethereum. You can then send your Bitcoin or Ethereum to these exchanges: Binance, Bitfinex, Coinone, or OKEx.

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Binance is a very new exchange. The company raised $15 Million via their Initial Coin Offering (ICO) in just 3 minutes on July 3rd, 2017. Less than two weeks later, the exchange went live on July 14th. While its certainly reasonable to be cautious about such a new exchange, Binance has very quickly built a user base, now consistently ranking in the top 10 daily trade volume of all cryptocurrency exchanges.

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The first step is to create a Binance account. Using theregistration form found here, youll need to provide your email and a password. As always, make sure to choose a strong unique password. Youll be sent an email to verify your email address after signing up.

IOTA is traded in Bitcoin and Ethereum markets. Locate IOTA in the market you wish to trade.

Its fairly easy to use Binance to Buy IOTA. Heres a step by step guide that will show you the exact process.

Despite being one of the largest cryptocurrencies in market capitalization, there are currently a very limited number of exchanges where you can buyIOTA. With that in mind, Ill show you the most popular options currently being used and explain the process for purchasing IOTA coins.

Once your order has filled, it will be shown in your available IOTA balance. You can then withdrawal your IOTA fromBinanceto the wallet of your choice.

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The process for purchasing IOTA on Bitfinex is very similar to the process on Binance. For that reason, Ive streamlined the Bitfinex outline a bit.

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Below Ill show you how to use each exchange to purchase IOTA. Keep in mind, youll need to first own another cryptocurrency (like Bitcoin or Ethereum) to deposit and trade for IOTA.

Place a Buy IOTA order using either a limit or market order.Binancecharges a .1% fee for trades. For the sake of simplicity, i purchased 300 IOTA using a market order. If youre placing a market order, you can choose the percentage of your Ethereum (or Bitcoin) balance you wish to use to buy IOTA.

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Click the deposit tab and choose the cryptocurrency you want to deposit. Like Binance, Binfinex trades IOTA in Bitcoin and Ethereum Markets.

You can trade BTC/ETH for IOTA at one of these exchanges: Binance, Bitfinex, Coinone, or OKEx

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Locate the trading pair youre looking to trade onBitfinex. In this example, Ill be trading the IOTA/ETH market.

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While IOTA is not yet supported by as many exchanges as other altcoins, its still relatively easy to buy. Just keep in mind, that if you dont already have cryptocurrency to trade for IOTA, youll need to buy some with fiat currency from aseparate exchangethan from where you can purchase IOTA.

You can enable 2FA in the security section of your account to make it more secure.

Once again, Ive chosen to deposit Ethereum.

Once your deposit has been completed, its time to trade your deposited cryptocurrency for IOTA. Click the Exchange button in the menu.

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Like on Binance, there are a variety of order types, with the simplest being a market order. To have Bitfinex automatically purchase the maximum amount at Market price, click the green circle shown in the image below, then click Exchange Buy.

Initially your account withdrawal limits will be set to a 2 BTC equivalent every 24 hours, but you can raise these limits by completing Binances Identity Authentication.

After your order has filled, your IOTA will be available in your IOTA exchange wallet.

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We always recommend that you enable 2-Factor Authentication (2FA) on any exchange you use to trade cryptocurrency to improve your account security. Specifically, we recommend using the Google Authenticator app, as SMS 2FA has a variety of security vulnerabilities. Google Authenticator is free to use from both theGoogle Play StoreandApple IOS Store.

Youll be able to view pending deposits as you wait for the transactions to be confirmed.

Based out of Hong Kong, Bitfinex consistently has some of the largest daily trade volume of all cryptocurrency exchanges. Unfortunately for U.S. based investors, Bitfinex has recentlydiscontinued serving U.S. individual customers.

Whichever crypto coin you choose, click deposit then send funds to the given address.

Its also worth noting theres currently a limited number of available IOTA wallets. Your best bet is to use the officialIOTA GUI Wallet Client, if you wish to hold your coins off of exchanges.

Once youve logged in, youll be taken to yourBinanceaccount page.

When your deposit is fully confirmed, youll now see it shown in your available balances.

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After you click the link in the email sent to you from Binance, your account should be activated. Click the link to Login.

Of course, the first step is tosign up for a Bitfinex accountand verify your email.