Frequently asked questions

IOTA tokens are stored on IOTA wallets, using an eighty-one character ‘seed’.

IOTA offers a number of technical advantages over more traditional cryptocurrencies like Bitcoin. Rather than using miners to validate transactions, it insists that nodes looking to issue a new transaction must first validate two others. This eliminates the needs for network and transaction fees.

IOTA does not make use of a traditional blockchain, but a so called Tangle. The Tangle is a form of Directed Acrylic Graph, in which transactions are joined together in a big long string.

IOTA is an open, feeless digital currency for the Internet of Things. IOTA's goal is to exchange value between internet devices and without the need for human interaction, such as an electric car automatically paying for the electricity it consumes at a charging station. IOTA is named after the smallest letter of the Greek alphabet.

IOTA is sometimes traded under the ticker symbol MIOTA. MIOTA thereby stands for Mega IOTA, or one million IOTA.

You can buy IOTA via a so-called crypto exchange. Exchanges don’t actually own the IOTA they’re selling, they merely match buyers and sellers and process the transactions between them. Given the huge supply for the digital currency (there are more than two quadrillion IOTA), it's often sold in the ‘MIOTA’ unit which is a million IOTA.

Is now a good time to buy IOTA? Frankly, we don’t know. But there are several strategies when it comes to crypto investing. One approach is to buy in when price slips. In the crypto community this strategy is known as "buying the dip" (BTD). Another strategy is dollar-cost averaging: investing a certain amount of money on a set schedule, say $100 every Monday morning. Dollar-cost averaging seeks to average out the lows and highs over time. No matter which strategy you choose, Cryptoradar’s price alerts help you to not miss a dip, and adhere to your investment schedule.

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