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Coinbase is where a lot of people safely buy their ETH and BTC, but it doesn't appear Coinbase currently sells IOTA. What are some places that I could buy IOTA from?

(Note I'm not asking for the best place, just somewhere I can get my foot in the door.)

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    This is not a stackexchange relevant question. Stackexchange is for technical questions.
    – cyclux
    Commented Nov 29, 2017 at 1:57
  • 1
    @cyclux I think this a fair question as IOTA is not just a technology but also a currency. So questions about buying and selling it are natural.
    – Phil-ZXX
    Commented Nov 29, 2017 at 2:17
  • 2
    I'm voting to close this question as off-topic because it is not a technical question and additionally any answer may be obsolete very soon
    – ben75
    Commented Nov 29, 2017 at 9:45
  • Noting that these questions are on-topic for other crytocurrency SE boards, I've asked for clarification, here: iota.meta.stackexchange.com/questions/7/… (Happy for it to be off-topic though.)
    – Richard Horrocks
    Commented Nov 29, 2017 at 9:45
  • SE doesn't have boards and it's not a forum;)
    – Helmar
    Commented Nov 29, 2017 at 21:46

6 Answers 6

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Unfortunately direct USD to IOTA isn't available yet, you will need to buy another crypto-currency first, transfer it to an exchange that trades IOTA and trade it there. The best/cheapest way to buy IOTA differs from moment to moment and can be found on https://iotaprices.com/ - This includes instructions on how to do so. Buying Ethereum is currently recommended over Bitcoin since it has cheaper fees and tranfers faster.

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How to Purchase IOTA in the US

Overview on how to purchase IOTA in November of 2017 in the US. For the sake of simplicity I am going to use Ethereum (ETH) as an example. Bitcoin (BTC) could also be used here (w/ higher fees).

  1. Create a Coinbase Account (recommend 2-factor authentication)

  2. Create a GDAX Account (owned by Coinbase, same market)

  3. Link a new bank account (Increase your Buy and Sell limits ASAP if necessary)

  4. Transfer funds from linked GDAX account (which now has access to your Coinbase bank account, this will not require any fees! It will take 3-5 business days to transfer.)

  5. Buy ETH using LIMIT/STOP (this allows you to do market orders without fees)

  6. Transfer your cryptocurrency to another exchange where IOTA is traded, such as Binance where you can buy IOTA for ETH (lower fees than BTC). Visit GDAX accounts to withdraw your cryptocurrency from it to a Binance equivalent. This transfer will accrue fees, as it is from one ETH address to another.

  7. Trade ETH for IOTA, it will also accrue ETH fees for each transfer that occurs.

Congratulations you’ve purchased IOTA!

What now?

Generate a seed and store your IOTA seed in a safe place such as in paper form or protected by KeePass. If you lose your seed, you lose your IOTA. I do not recommend storing your IOTA on any exchange for long term.

Learn More

Official IOTA Site

What is IOTA?

Conversion Tools

Slack Channel

Github Organization

For free IOTA to play with visit r/IOTAFaucet

Google Authenticator for 2 factor authentication Android or iOS

IOTA Wallet

Note

This is not the only way to buy IOTA in the US. Hopefully going thoroughly through a real world example helps you understand what you need to do. Especially if you decide to deviate from the above example.

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I live in US and bought IOTA by doing the following:

1) Bought ETH from CoinBase

2) Transfer my ETH to Binance

3) Bought IOTA with ETH through Binance

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1) Buy BTC or LTC from CoinBase

2) Transfer BTC or LTC to CoinSpot

3) Buy IOTA with BTC through CoinSpot

4) Send IOTA from CoinSpot to your IOTA wallet

(CoinSpot is an Australian exchange you might be more comfortable using as a US citizen than an Asian based exchange)

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At the moment there are no exchanges that exchange USD for IOTA. Your best (also fastest and cheapest) method would be to exchange USD for LTC on Coinbase, then send the LTC to an exchange that trades LTC, BTC, and IOTA such as Bittrex or Binance. Once your LTC is moved from Coinbase to the other exchange, sell the LTC for BTC, then use the BTC to purchase IOTA. Unfortunately this is currently the fastest and least expensive method for exchanging USD for IOTA.

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    Coinbase is very user friendly but also has quite high exchange rates and trading fees. You are better of at other exchanges, price-wise.
    – fijter
    Commented Nov 28, 2017 at 21:20
  • Alternatively, you can deposit to Coinbase, then login to GDAX and buy there, which is a Coinbase owned exchange with lower fees.
    – aboose ♦
    Commented Nov 29, 2017 at 7:55
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I think you should buy some bitcoin or ether on any exchange, and then You can buy IOTA tokens on Bitfinex.com or www.binance.com. Is what i did actually I've bought some ether on coinhouse.com and then use it to buy IOTA on bitfinex

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