Where To Exchange IoTeX (IOTX) - Best Platforms With Reviews
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Where can you exchange IoTeX (IOTX) in 2024?
Where Can You Exchange IoTeX (IOTX)
IoTeX (IOTX) is a cutting-edge cryptocurrency project aimed at integrating blockchain technology with the Internet of Things (IoT). For those interested in trading or investing in IoTeX, knowing where to exchange IoTeX (IOTX) is essential. This article provides a comprehensive guide on the best platforms to trade IoTeX, a detailed overview of the project, its history, and the technology behind it.
Introduction
IoTeX (IOTX) has garnered significant attention in the cryptocurrency space due to its innovative approach to combining blockchain technology with IoT. To start trading IoTeX, it's crucial to know the best exchanges that support this cryptocurrency. This guide will cover both centralized and decentralized exchanges where IoTeX can be traded, providing you with the necessary information to get started.
What is IoTeX (IOTX)?
IoTeX (IOTX) is a decentralized platform designed to power the Internet of Trusted Things, a network of interconnected devices that communicate securely and autonomously. By leveraging blockchain technology, IoTeX aims to address the privacy, scalability, and interoperability challenges associated with IoT ecosystems.
History of IoTeX
IoTeX was founded in 2017 by a team of experienced professionals in blockchain, cryptography, and IoT. The co-founders, Dr. Raullen Chai, Qevan Guo, Jing Sun, and Xinxin Fan, aimed to create a platform that could securely connect IoT devices and enable seamless communication and transactions between them. Since its inception, IoTeX has made significant strides, launching its mainnet and various products that enhance the IoT ecosystem.
Technology Behind IoTeX
IoTeX utilizes a unique blockchain architecture that includes a root chain and multiple subchains. This structure ensures scalability and flexibility, allowing different IoT applications to operate on their dedicated subchains while benefiting from the security of the root chain. The platform also employs advanced cryptographic techniques, including ring signatures and bulletproofs, to ensure privacy and security.
Centralized Exchanges for IoTeX (IOTX)
Centralized exchanges (CEXs) are popular among traders for their ease of use, liquidity, and extensive features. Here are some of the top centralized exchanges where you can trade IoTeX (IOTX):
Binance
Binance is one of the largest and most reputable cryptocurrency exchanges in the world. It supports a wide range of cryptocurrencies, including IoTeX (IOTX). Binance offers various trading pairs for IoTeX, such as IOTX/USDT, IOTX/BTC, and IOTX/ETH. The platform is known for its high liquidity, robust security measures, and user-friendly interface, making it an excellent choice for trading IoTeX.
Huobi Global
Huobi Global is another prominent exchange that lists IoTeX. It provides several trading pairs for IoTeX, including IOTX/USDT and IOTX/BTC. Huobi Global is recognized for its strong security protocols, advanced trading features, and extensive customer support, making it a reliable platform for trading IoTeX.
OKEx
OKEx is a well-established cryptocurrency exchange that supports IoTeX trading. It offers multiple trading pairs for IoTeX, such as IOTX/USDT and IOTX/BTC. OKEx is known for its advanced trading tools, high liquidity, and comprehensive security measures, providing a secure and efficient trading environment for IoTeX.
Decentralized Exchanges for IoTeX (IOTX)
Decentralized exchanges (DEXs) offer a more secure and private way to trade cryptocurrencies without relying on a central authority. Here are some decentralized exchanges where you can trade IoTeX (IOTX):
Uniswap
Uniswap is a popular decentralized exchange that allows users to trade IoTeX (IOTX) directly from their wallets. It operates on the Ethereum blockchain and uses an automated market maker (AMM) system to facilitate trading. Uniswap is known for its ease of use, high liquidity, and decentralized nature, making it a suitable choice for trading IoTeX.
SushiSwap
SushiSwap is another decentralized exchange that supports IoTeX trading. It offers similar features to Uniswap, including an AMM system and decentralized trading. SushiSwap is recognized for its community-driven approach, competitive fees, and innovative features, providing a secure and efficient platform for trading IoTeX.
PancakeSwap
PancakeSwap is a decentralized exchange on the Binance Smart Chain (BSC) that supports IoTeX trading. It offers various trading pairs for IoTeX and utilizes an AMM system to facilitate trading. PancakeSwap is known for its low fees, fast transaction times, and decentralized nature, making it an excellent option for trading IoTeX.
How to Buy IoTeX (IOTX)
Step-by-Step Guide
- Choose an Exchange: Select an exchange from the list above, considering factors such as fees, liquidity, and security.
- Create an Account: For centralized exchanges, sign up and verify your account. For decentralized exchanges, set up your wallet.
- Deposit Funds: Deposit funds into your exchange account using fiat currency or other cryptocurrencies.
- Buy IoTeX: Navigate to the trading section, select the appropriate trading pair (e.g., IOTX/USDT), and execute your trade.
- Secure Your Tokens: Transfer your IOTX tokens to a secure wallet to maintain control over your private keys.
Security Tips for Trading IoTeX
- Enable Two-Factor Authentication (2FA): Always enable 2FA on your exchange account for added security.
- Use a Hardware Wallet: For long-term storage, use a hardware wallet like Ledger or Trezor, which stores your private keys offline.
- Stay Informed: Keep up with the latest security practices and potential threats in the cryptocurrency space.
The Future of IoTeX
Development and Roadmap
IoTeX continues to innovate with ongoing development aimed at enhancing its platform and expanding its ecosystem. Future updates may include additional features, improved interoperability, and expanded use cases. Keeping an eye on IoTeX’s official announcements and roadmap can provide insights into upcoming developments.
Community and Adoption
The success of IoTeX depends significantly on community support and adoption. Engaging with the IoTeX community through social media channels, forums, and participating in governance decisions can help shape the project’s future. As IoTeX gains popularity, platforms like these are well-positioned to play a crucial role in the IoT and blockchain industries.
Conclusion
Exchanging IoTeX (IOTX) can be done on various centralized and decentralized platforms, each offering unique features and benefits. By following the steps outlined in this guide and adhering to security best practices, you can confidently trade and hold IoTeX tokens. As IoTeX continues to innovate and expand its offerings, staying informed and engaged with the community will be key to maximizing your investment. Whether you're a seasoned crypto enthusiast or a newcomer, understanding where and how to exchange IoTeX (IOTX) is essential for navigating the evolving world of decentralized finance.
This article aimed to provide a clear, detailed, and comprehensive overview of where you can exchange IoTeX (IOTX). It covered the necessary steps to buy and secure IoTeX, the history and technology behind IoTeX, and the best centralized and decentralized exchanges for trading it. By following this guide, you can make informed decisions and effectively participate in the cryptocurrency market.
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31 companies
Freewallet (or FRWT) is a web3 non-custody wallet that supports a wide range of functions including swapping, purchasing, and managing cryptocurrencies based on 15 different blockchains with safety and ease.
Binance is currently one of the biggest and most popular cryptocurrency exchanges. Originally coming from Hong Kong, the company has recently moved its headquarters to Malta. Back at the beginning of its path the company had an ICO and gathered 15 mln USD. Participants got Binance Coin (BNB) which could be used to trade cryptocurrencies and pay for a fee on Binance exchange.
Coinbase is a leading digital currency platform and wallet where sellers and buyers can transact with new types of digital currencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The exchange was founded by Brian Armstrong and Fred Ehrsam in 2012 and is based in San Francisco, California. They focus on the US market, however, the company currently operates in 31 countries and offers storage of bitcoins in 190 countries around the world.
Coinspot wallet is a special service provided by Coisnpot exchange. It provides a hot wallet for every coin its exchange is currently trading. Alongside with crypto, it also supports the Australian Dollar. Currently ,CoinSpot wallet has more than 60 coins and tokens. Built-in exchange is an additional feature of the wallet as well as 2FA for the additional security. The only language available is English.
Altcoin Trader is a Centralized cryptocurrency exchange based in South Africa. The exchange was launched in 2014. Altcoin Trader has 20 available trading pairs and 21 coins. The exchange uses the Ordinary procedure for verification including two-step verification process and Know Your Customer (KYC) procedure. If you want to raise the account limits and minimize processing time you must go all the way, uploading ID card, proof of residence, etc.
BitLox is a hardware wallet. This means that you will use it to store your cryptocurrency private keys in a secure offline environment away from the risk posed by hackers. The company has been around since at least 2014 and is based in Hong Kong (BitLox Limited).
Bitso is the first exchange to enable pesos/BTC trading in Mexico. Although, BTC has a limited book and can’t buy or sell BTC directly. The exchange has a mobile app on Android and IOS , API and the cold storage. Bitso provides a great support for their traders and offers different educational materials for the new investors.
But at same time platform doesn’t have the margin trade and has the variable fees from a maximum of 1% to a minimum of 0.1%. The platform has a good security. Bitso initiates the KYC involving three levels of verification, which determine the limits on a trading account.
Coinbase Wallet was launched by Coinbase exchange for secure operations with coins and tokens. To use Coinbase Wallet, you don’t need to have an account with Coinbase exchange.
CoinEx exchange was established in 2017 in Hong Kong. The platform can be used as a low-cost exchange with a broad range of different coins. The main asset is Bitcoin cash. Moreover, there is information that this exchange is going to present its new coin soon. It might be called CoinEx Token. Besides, the developers of CoinEx can establish a special exchange with the decentralized system using CET as “gas”.
CoinPayments Wallet is a crypto wallet used for transactions and exchange of 100+ cryptocurrencies on iOS and Android devices. Due to its payment options, such as a Mobile Point of Sale, It is especially convenient for businesses.
Coin Wallet is a non-custodial multicurrency wallet for multiple platforms. It allows you to make payments in Bitcoin anywhere - from your phone or desktop computer - without hassle.
CoinSpot is one of the most popular cryptocurrency exchanges in Australia. The platform was founded in 2013 in Melbourne and it is one of Australia's earliest cryptocurrency exchanges. Its easy-to-use interface is like a breath of fresh air that shows other exchanges what to look up to.
The most difficult thing is to decide which cryptocurrency to buy and how much money to invest since CoinSpot truly has the most full list of crypto assets to trade. The process of buying and selling is actually very simple.
CoolWallet is a Bluetooth hardware wallet for managing Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, and ERC20 Tokens. It represents a cold storage wallet that can be used as the Android/Apple mobile app.
Eidoo is a decentralized light wallet supporting Bitcoin, Litecoin, Ethereum, and numerous ERC20 tokens. Moreover, the platform provides many other services including the cryptocurrency exchange, debit cards, etc. It was developed by an eponymous Swiss company and launched in 2017. One of the purposes named by the company is providing transparent, secure, and easy to use service for managing finance to Eidoo's customers. The company is aimed at keeping control over assets in the hands of customers.
Enjin mobile wallet was developed for handling multiple digital assets, such as BTC, ETH, BNB, LTC, as well as ERC-20, ERC-721, and ERC-1155 tokens. A user owns private keys and can restore access via a 12-word passphrase.
Gate.io was founded in 2013 by Lin Han. The platform is operated by Gate Technology Incorporated. This year, April 17, Gate.io managed to raise raised $64,000,000 as an initial coin offering (ICO), and according to exchange CMO Mrs. Marie Tatibouet on April 8, 2019, it raised an undisclosed amount of capital from 5 BLOCKS CAPITAL.
HelioWallet is a client-side tool that generates an Ethereum address and supports top hardware wallets. It does not require personal information and can be used anonymously.
Hotbit is one of the youngest exchanges opened in early 2018. The exchange does not work with fiat currencies. Hotbit has also adopted some advanced technologies such as GSLB, distributed server clusters, and storage. It goes with a high-speed memory-based trading engine all backed up in multiple machines, cold storage locations, and hot wallets with offline private keys.
Huobi is a cryptocurrency exchange founded in China in 2013. Currently, Huobi is based in Singapore because this country has friendlier cryptocurrency regulations. The company is registered in Seychelles. Before leaving China due to a cryptocurrency ban, the exchange was responsible for 90% of Bitcoin trading volume in this country. Now Huobi is an international platform with offices located in Singapore, Hong Kong, the United States, Japan, and Korea. In China, the company provides blockchain consulting services. Huobi has sub-exchanges: Huobi Korea, Huobi US, etc. Huobi Global is the biggest Huobi exchange. In November 2019 Huobi Global had to shut down all the accounts belonging to the US customers due to strict cryptocurrency regulations of the USA.
JuBiter Blade is a secure hardware cryptocurrency wallet supporting top cryptocurrencies and ERC-20 tokens. It is connected to the user’s PC via USB or bluetooth.