How To Buy IOTA 2.5.4

iota logo

Before you jump into the actual purchase, it is important to get a seed and wallet ready to transfer to and store your IOTA securely. Once your seed and wallet are setup, continue onto the buying process.

Generate IOTA Seed

This is a secure recommended IOTA seed generator recommended by developers and the IOTA community: https://knarz.github.io/seedgen/

If you want to generate your own seed from Linux or a Mac, you can use these commands:

Linux Terminal

cat /dev/urandom |tr -dc A-Z9|head -c${1:-81}

Mac Terminal

cat /dev/urandom |LC_ALL=C tr -dc ‘A-Z9’ | fold -w 81 | head -n 1

Save your seed.

IOTA Wallet

This wallet is open sourced and created by IOTA.org itself.

Current release: v2.5.4

IMPORTANT: There are issues reported amongst multiple communities that IOTA has been difficult to transfer to this version of the wallet and to wait until a new version is released. Some users are keeping their IOTA on the exchange purchased, while acknowledging this is not advisable or recommended in practice.

IOTA App

Prerequisites

  1. Download NodeJS
  2. Install Electron:
npm install -g electron
  1. Install Bower:
npm install -g bower

Windows Users Only

Run the following command as Administrator:

npm install -g --production windows-build-tools

Compiling

If you wish to compile the app, install the following also:

  1. Install Electron Builder

Electron Builder is used behind the scenes. Read their instructions on how to set up your system.

  1. Install Docker

Instructions

  1. Clone this repository:
git clone https://github.com/iotaledger/wallet
  1. Go to the wallet directory:
cd wallet
  1. Clone iri:
git clone https://github.com/iotaledger/iri

Note: make sure compiled iri.jar is in the iri folder.

  1. Install components
npm install
  1. Run the app:
npm start
  1. If you wish to compile the app:
npm run compile

If you’d like to create a package only for a specific OS, you can do so like this:

npm run compile:win
npm run compile:mac
npm run compile:lin

how to buy iota in us

How to Buy IOTA in the US

Quick reference instructions, followed by more detailed instructions and screenshots below.

  1. Open an account on Coinbase.
  2. Open an account on Binance.
  3. Buy BTC, ETH, or LTC on Coinbase. I personally chose BTC.
  4. Fund your Binance account with whichever currency you purchased. Note: Coinbase will charge a $14.25 transfer fee, so make sure you purchase and send enough to make it worth it.
  5. Open the Exchange page on Binance and trade as you will.

Binance

Open an account in Binance.

Verify as necessary. The further verifications provided, the more you can deposit and withdraw at a time.

iota binance verify

Click over to Funds, then Deposits and Withdrawals. You will be presented with a screen showing all of the available cryptocurrencies.

binance currencies fund withdraw

Click on Deposit for Bitcoin (Or other currency you have purchased).

binance bitcoin deposit address

You will be presented with an address to send your Bitcoin to as a deposit. Copy the address and paste it into the Coinbase accounts page under the Send button.

coinbase send btc to binance

Once the fund have finished transferring, head over to the Binance exchange.

binance trade btc to iota

Binance allows you to set limit, market, and stop-limit orders on buying and selling.

You are on your own from here. Good luck! To withdraw from Binance, go back to the Funds Deposits and Withdrawals page and click on the Withdrawal button for whatever currency you have.

Buy IOTA with USD or EUR or GBP or RUB or BTC

While I have not personally used it yet, Cex.io is another exchange which is reputable. You can transfer money in via credit card or bank. The fees are significantly lower than Coinbase for smaller transactions.

0.25% in and out, which means 0.5% to transfer buy coins and transfer to Binance to buy IOTA.

If you plan on investing more than $5,000 into IOTA, Coinbase becomes the cheaper route. For transactions less than $5,000, Cex is a cheaper fund.

 

 

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