iota (MIOTA) What is m(iota) and why should it be considered a good investment?
Iota is different in many ways to other currencies.
These differences can be what makes and/ or breaks this cryptos long term investment strategy.
The trouble with iota is that it is not, as of yet, really easily understood for the amateur crypto investor. This is due to this crypto currency being an alternative crypto currency. Alternative crypto currencies are outside the most well known US based exchanges (ie. kraken and coinbase).
Currently it can be found on exchanges like Bitfinex, Binance, and Coinone.
Wait! Aren’t exchanges outside the US risky. The answer is yes and no and without risk is there any reward?
So if you are a risk taker keep reading. If your willing to not have as much oversight from regulatory bodies over your money. I see no reason why investors won’t give Binance a go. Binance recently had to move its headquarters due to Chinese regulations where it first got its original start. They are now located in multiple locations to avoid government over site and are in many different countries. But without it being regulated it makes it less likely that anyone will be able to protect you in the event your money may be stolen from your online wallet.
Bitfinex, however was a good option but has not been good for US residents at this time. Last year the exchange was having trouble meeting US regulatory requirements which made them consider pulling from the US market. And because it won’t get any easier for them to meet regulatory requirements any time soon. Good luck making an account with Bitfinex and/or getting registered if you live in the US.
When and if you can find a good exchange that sells miota. There will be a good opportunity to capitalize on it. Especially if you can understand why it will be useful.
M(iota) is much like Ripple XRP, both of which are breaking away from the traditional bitcoin framework. Iota is also much cheaper on the exchanges then the current top crypto currencies and could stand to gain headway as time goes on.
Some good qualities in this coin include not having to utilize miners to make transactions. There are many reasons not to use miners but the biggest is miners would make this coin too slow to be useable on a large scale. And trust me iota will need to be able to perform well if not better then xrp in order to do what it seeks to accomplish.
This is because iota is a crypto that is used for the internet of things. The internet of things is the new multi billion dollar project to be able to track and monitor practically everything.
Now these things must be monitored with little to no transaction costs.
And how they propose to make it happen is by acting like a non-profit versus profit corporation. Getting donations to continue on researching and creating a real use case for their iota coins. These coins will be open sourced so that everyone can benefit from its use.
It’s not a Blockchain. It’s a Tangle.
So if it doesn’t use Blockchain how does it work? Iota uses a web like structure to quickly connect multiple objects in one web with which it will have nodes that connect to each other. This connection matrix is held together with what we call Tangles.
So tangles are a good thing?
Yes, tangles can be a very good thing. Tangles create multiple layers of security while keeping transactions fast with zero fees and without the need for intermediary verification.
While it may be a tangled mess to sort out and understand all the real use cases for this technology. Once it gets unwound by investors. They will begin to realize these tangles can make companies who use the tangles more valuable and in the process make the crypto a good investment to have. Because it has a case for real use. It also could quite possibly change our future in more ways then we can ever imagine. What’s even better is it can do it fast at the same time as it being secure.
So whether you decide in investing in companies looking to use the technology or the iota coin itself. Consider this, iota will quite possibly be a top pick for many investors.
Be mindful that the market has been in decline this past month. So perhaps you should check out the Crypto Tsunami article. This way you can wait for the bear market to finish its cycle and invest in perhaps in iota during the next big crypto market wave.