Binance is one of the leading exchanges to list the cryptocurrency IOTA. Unlike classic cryptocurrencies, IOTA does not use blockchain but a tangle data structure. Today we show how to trade IOTA on Binance.
The first step is to set up an account on the Binance.
For this, go to the homepage and click on “SIGN UP”.In the appearing pop-up window, enter your information and then click on “Open Account”.
An e-mail of confirmation will be sent to the specified e-mail address. This email has a confirmation link that you have to click on to confirm.
Send cryptocurrencies to Binance
Once you have registered, you’ll require to transfer cryptocurrencies like BTC to your Binance wallet. If you don’t hold any cryptocurrency, you can purchase with a credit or debit cards.
To deposit, go to the menu, select “Funds”, then “Deposits”. Now, Binance will give you a wallet address to transfer your coins to. Make sure you only transfer the correct kind of cryptocurrency(i.e. BTC to the BTC wallet). Any other coins transferred here could be wasted
Transactions are usually finished very swiftly but could take up to some hours in some instances depending on the network capacity at the time. Make sure your transaction has been executed favorably before proceeding.
Trading Pair with IOTA
Once your deposit is confirmed, go to the exchange part of Binance. Click on “Exchange” and then “Basic”. From the exchange window, locate the box on the right-hand view. In the search area, select the cryptocurrency you deposited earlier, and search for IOTA. Click on the pair that arrives (IOTA/BTC, IOTA/ETH, IOTA/BNB or IOTA/USDT).
Choose the amount of IOTA
At the moment you can only deposit FIAT currencies via bank transfer. Click on Deposit and then on the desired currency. Once the money has been transferred, you can buy IOTA.
Now decide how much IOTA to purchase. You can pick a particular amount in IOTA, or 25%, 50%, 75% or 100% of the BTC/ETH coins in your Binance wallet. Now, click the big green button to finish your trade!
You can buy cryptocurrencies on Binance , Coinbase or eToro . Click here for our -> starter kit.
Legal notice
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
These notes are for educational purposes only and should not be construed as investment advice.
Disclaimer: This information should not be interpreted as an endorsement of any cryptocurrency. It is not a recommendation to trade. The crypto market is full of surprises and overhyped assets. Do your research before buying anything. Do not invest more than you can afford to lose.
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