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Questions you might have

What is IOTA?

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.

What is MIOTA?

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

What is a cryptocurrency exchange?

A cryptocurrency exchange is a marketplace where buyers and sellers trade cryptocurrencies. Just like regular stock exchanges, a cryptocurrency exchange serves as a middleman who sets the market price at which an equal number of buyers and sellers can be found.

Where can I buy IOTA?

You can buy IOTA via a so-called cryptocurrency 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.

How do I store IOTA?

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

What are IOTA's benefits?

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.

What is the Tangle?

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.