Home BLOCKCHAIN How To Convert IOTA To BTC

How To Convert IOTA To BTC

IOTA is a type of cryptocurrency that emerged in 2015 and is based on making the best of the devices connected to the Internet of Things. The currency aims at expanding past the blockchain. It differs from Bitcoin in many ways, including the directed acyclic graph it uses to solve problems faced by Bitcoin in terms of scalability.

Most people purchase IOTA to convert to BTC, as the latter is the best crypto investment one can make today. This guide will look at why you should get BTC now and how to convert IOTA to BTC.

Why You Should Get BTC Now

There are many reasons why it’s a great idea to get BTC today. These include:

  • Although BTC has a high price, the value of the cryptocurrency is still growing.
  • It’s protected against inflation.
  • It’s the most liquid cryptocurrency on the market.
  • It has been adopted widely and globally.

Steps for Exchanging IOTA with BTC

When converting BTC to IOTA or vice versa, there are a few easy steps you can take to get it done quickly and efficiently.

Step 1: Obtain the Currency

The first thing you need to do is obtain IOTA before you can convert it to BTC. Keep in mind that you can only purchase IOTA when exchanging another currency for it. Thus, you’ll have to use another cryptocurrency to purchase IOTA. You can do this, trade IOTA with another currency, or mine the currency.

All IOTA coins have been pre-mined, and IOTA doesn’t use the standard blockchain, so their software, Tangle, will verify your cost-free transaction and give you the coins.

Step 2: Choose an Exchange Platform

Next, you have to choose the exchange platform you want to work with. There are different kinds of cryptocurrency exchange platforms you can use to convert BTC to IOTA or vice versa. Firstly, a centralized exchange is managed by a central organization.

Secondly, a decentralized exchange manages all transactions with an automated, peer-to-peer system, with no central body. Lastly, a hybrid platform combines both centralized and decentralized.

When choosing an exchange platform to use, there are some features you must look out for. They include:

  • Low fees
  • Good reputation
  • Top-notch security
  • Anonymity
  • Quick transaction times

If you’re looking for an exchange platform that provides all these features, Godex.io is the ideal choice. This exchange places no limits on exchange volumes, requires no sign-up, and offers fixed rates with no hidden fees.

Step 3: Conduct the Exchange

Once you have your IOTA coins and an exchange platform, you can exchange IOTA with BTC. Input the cryptocurrency pair with the sender as IOTA and the destination as BTC. Then, input your BTC wallet address. This is where the exchange currency will be sent.

Next, deposit the IOTA you have obtained and wait for your deposit to be approved. Once your deposit has been confirmed, the BTC will be sent to your wallet, and the exchange is complete.

Invest in BTC!

If you want to benefit from the first cryptocurrency in the world in terms of market capitalization, there’s no better time to invest in BTC than now. Thus, you can convert your IOTA to BTC now and start benefiting from the currency.

Tech Cults
Tech Cults is a global technology news platform that provides the trending updates related to the upcoming technology trends, latest business strategies, trending gadgets in the market, latest marketing strategies, telecom sectors, and many other categories.

RECENT POSTS

What Shows Up On A Background Check?

Whether you’ve applied for a new job or you want to move into a new rental at the end of the year, chances are,...

The Benefits Of Cloud Computing Services

What are Cloud Computing Services? Cloud technology is the providing of computing online services and on a payed premise, ranging from apps to data storage...

Cloud Storage: The Main Thing Is Safe

Ease of use, fast data exchange, access from anywhere: cloud storage is becoming increasingly popular. Most prominent providers now also have business versions of...

Stellar Photo Recovery Tool Review | Here Is How To Recover Permanently Deleted Photos

Stellar Photo Recovery formerly called as Stellar Phoenix Photo Recovery is a software data retrieval service used for both Mac based devices and windows...

Best Jobs In Bahrain 2021

The island nation in the Persian Gulf, known worldwide for its kingdom of Bahrain, is an archipelago with an area of 665 square kilometers,...

Community Management For Sport Fan Websites: 8 Things To Keep In Mind

The truth is, designing a sports website takes time and experience. Fortunately, for those creating it, some tips/tricks can make it easier and provide...