How to Buy IOTA & Invest in the Tangle For U.S Customers Kicked Off Bitfinex 



welcome to another episode of crypto riot what is crypto riot you might ask it's a little YouTube series I make that takes the magic and mystery out of cryptocurrencies and amateur investing in today's episode I'll be covering one of the more frequently asked questions that I've been receiving on this YouTube channel which is where can i buy a yachtie and how do I safely store it well if you're a US customer like myself you recently got booted off BitFenix and you've been trying to find alternatives so in this episode I'm going to show you exactly how you can find other exchanges that are trading cryptocurrencies that you're interested in and the best ways once you have those crypto currencies to store them safely so stay tuned we'll be right back before we get started it's time to find out who the lucky winner of the point one aetherium is okay so the last video that we made was about ICO investing and research best practices let's find out who the winner was here we have 666 unique comments and bit Co you have your aetherium address fantastic as soon as I'm finished making this video I will send you the 0.1 aetherium oh in addition to the point one aetherium I'd also like to offer you one free ticket to NAC 3 in Las Vegas on December 9th I'll be speaking at that conference along with crypto Bobby Nathan over at the crypto not and there's a special guest speaker which they're announcing tomorrow so stay tuned for that so if you're a u.s. customer like myself you probably got a notice saying that you can no longer use BitFenix and the main reason that the next no longer wants us customers is it doesn't want to have to comply with all of the US regulations so I had to find an alternative and unfortunately for me at the time I didn't have a another place to buy iota so in the end what I end up doing on BitFenix was actually selling all of my Kryptos back into aetherium and Bitcoin and just transferring it out of the exchange until I figured out what I was going to do next so now what I want to do is actually show you and walk through the entire process so if this ever happens to you you'll know exactly what to do and you'll know how to go about finding the new exchanges that are offering the different crypto currencies that you're interested in so the first thing that you'll want to do if you are interested in buying a cryptocurrency is check it out on one of the research tools like coin market cap or coin checkup comm and what this does is that tells you a lot of interesting information about the actual cryptocurrency itself and so the one that we're interested in right now is iota because it hasn't been available on a ton of different exchanges now here it'll show you the trading volume the marketing cap but the part that I really wanted to focus on right now is the the tab that says markets and I'll explain why this is important in a second so if you go down to the iota markets it shows you what is being traded and where it's being so right now that you can see that BitFenix accounts for 56% of the volume and 56% of the volume is being done between iouder and USD but what's interesting is that if you go down to the second result you'll see that by Nantz is here and it's an iota BTC power and that's our first clue so we know that BitFenix is obviously the largest exchange it's got 56 percent of the volume plus in addition to the 14 and 3% so it's just using some rough mathematics like 77% of the market share and the rest of the coins are being purchased through all these other services so the first thing that I would do now is because it's really obvious that the second-largest exchange for this cryptocurrency is by Nance now I've never used finance up until now so I am any new to buy Nance I did a quick look around it's a Chinese base exchange one of the big advantages with finances it has hundreds and hundreds of different crypto currencies listed it's a little bit I think like bit tricks only it has some coins on offer there that bit tricks doesn't so if we go over to Finance I've saved some time I've already signed up for an account and I've also in I've also put 2.2 a theory I'm into my wallet just so I can show you exactly how we're gonna go about buying this iota and then transferring as iota into a wallet so there's my my point to one aetherium let's go and exchange that for iota so we'll go down to basic and we'll go to eighth and then we'll type in IOT a because we know that's the symbol that we're looking for and sure enough right here we have the trading pair okay so now we can buy iota max amount 102 it says that I can buy perfect and it was instantly filled so now if I go back over to my balances I should be able to go into my iota wallet and I should see the the new balance here fantastic and see I have one hundred and 1.9 iota now it says here that my withdrawal process might be a little slow so we'll see how that works I don't have a two-factor authentication turned on cuz I just set up this account so I'll go ahead and I'll set that up really quick alright so we're back into bye Nance and we have entered our two-factor authentication information now we just need to figure out how we're going to withdraw the new we purchased iota there's our iota we can do a withdrawal here now the iota address that you're going to use is 81 characters it's a little bit confusing to set up for the first time hmm so in order to set up a an i/o to address the easiest way that I've found is to just use LastPass if you've got that as a password manager and then I'll just go to generate a secure password you can actually type in 81 characters the password has to be 81 or the the passcode you use has to be 81 characters long you can use the number 9 but you can't use 0 through 8 so the easiest way that I've done this is just to say all caps letters you can't use any lowercase and then I just generate this brand new password here or this gent brand new code here I can log into my iota wallet now I've got my authentication code as q9 y which means that that's like my check sum so that means that I've entered the code correctly I should just be able to memorize q9 Y and just know when I copy and paste it in there that it as long as it says q9 y my checksum is correct here I can go to receive and I have my address right here now I might just open Notepad just for my own sanity just to make sure that it's actually copied the right address I'd hate to copy and paste an old address in my um in my code 9a x MC nine a perfect so that's copied the correct address and if I go into finance now and I put my I owe to a dress here I owe to a wallet and for now we'll just maybe do something really simple to test it out we'll say 50 now let's see we've got no transaction fee there please input your wallet all right fantastic now it'll ask me for my Authenticator code which I just set up mm-hmm fantastic so now I should have submitted that order I should also receive a withdraw roll Rick there we go fantastic and now any moment now it'll show up in my iota balance they might be a little bit of a delay no transfers found while we wait for that to go through let me just explain a couple things about the iota wallet there's two options when you go to download the iota wallet there's two download you download the same software package now unfortunately if you are using an iota wallet you don't have an option to install it on your iPhone and they only have an Android app right now so I wasn't able to use that I actually had to use the the the wallet the the Windows wallet so I downloaded it over here from from the support pages here we go under the Exe file and once I was downloading that it's important to understand what the difference between a white wallet is and a full wallet a full node is going to be actually involved in processing transactions and it's going to be an active part of the network so it's going to be it needs to be online 24/7 in order for it to me to work a light wallet means that you're not actually downloading the history of the tangle and you're not really participating you're really just keeping the the money in there so if you're new to i/o during just need everything to work as quickly as possible I would just set up the iota white wallet and then not worry about making it a full note if I did have like a more powerful computer or if I did have a computer that was online 24/7 and I wanted to be more active in there the iota community then it's definitely a good idea to run a full node as opposed to it to a light a light wallet like this so right now we're just waiting for the balance to show up now when you do create this address one really smart thing to do is to not leave a copy anywhere on your computer so what I do is actually use the LastPass to generate the password I'll disconnect from the from my internet connection and then I'll just create a note document like this save it on a thumb drive once it's unplugged once I unplugged my thumb drive like sorry I close all my windows off I unplugged my thumb drive and now I have a safe copy of this key that I can use at any time on an external device yeah we're still not seeing anything yeah under the transactions iouder is supposed to be fast so I'm not sure why there is a delay they did warn on the finance page that there's a delay you know and it's just blaming their network congestion which could be right all right guys a quick update about two hours ago I tried to transfer those 50 iouder into my wallet unfortunately the transaction has not processed yet I did look on the buy Nantz website and in all fairness before I did transfer the iota they did warn me of the network congestion and that the transaction could take a while I'm a hundred percent certain that the ship the steps that I used in this video are correct so I have no concerns and I'm sure that that 50 iota will show up in my wallet sending it out of an iota wallet is very similar to sending into any of the other crypto currencies so I'll just confirm everything went okay eventually when the transaction does process in the notes of this video if you have any questions or comments please go ahead and make them below until the next video I'll see you later following me every time somebody liked one of my videos I water these plants every time somebody subscribes to my channel I give them the trees every time somebody shares a video on Facebook so if you like gardening dogs America or cryptocurrency you should support this channel [Applause]

38 thoughts on “How to Buy IOTA & Invest in the Tangle For U.S Customers Kicked Off Bitfinex ”

  1. https://www.newsbtc.com/press-releases/disrupting-iota-how-iot-chain-is-revolutionizing-the-internet-of-things-iot/ | IoT Chain, the IOTA of China is going to prevail over IOTA

  2. Nice bit of information guy. Thanks. I'm new to crypto and catching the second wave at 64 1/2 years young. Making up for the social engineering crooks that took me for a loss in Amsterdam. You have an honest look and flow very well for a young un.

  3. If you cannot register on Bitfinex i recommend KuCoin. Buying KCS at first is also a good move. https://www.kucoin.com/#/?r=7wH2wr

  4. After days of research, finally found the good and easy way to buy most of the alternative coins like iota- Binance.
    Please use the below refer link https://www.binance.com/?ref=13380711
    Coinbase link for BTC, ether, Bch & Lite coin:https://www.coinbase.com/join/5979491f46083d00d9a7ac08

  5. Is it just me or does it seem risky that you store your wallet ID on a single thumb drive? I understand the attempt to keep it off the internet but what if your thumb drive gets lost or destroyed or stolen or it just fails? You absolutely need redundancy for something this important.

    Also if you happen to have any viruses on your computer I'm not sure that it actually doesn't he good to disconnect your computer from the internet while you copy the string of characters to your thumb drive which you had on your clipboard while you were on the internet in the first place…. Seems like you might as well just store the string in your LastPass account… If you use a good password and two-factor Authentication it should be pretty secure… At least more secure in my opinion than a single thumb drive

  6. I thought you did not like centralized… https://medium.com/@ercwl/iota-is-centralized-6289246e7b4d , better look at syscoin.org

  7. https://www.kucoin.com/#/?r=16eQJ – Free signup to get free Ku Coins worth $500 if you buy any crypto and earn bonus every day based on the volume of the transactions on this exchange.

  8. 0x1DF0863A4973e3aE50183bc334757459E6872e10
    Merry Christmas sir. Any amount will do, thats my ethereum wallet..
    God Bless you! thanks!

  9. Is this a bombshell or just hype?

    https://blog.iota.org/iota-selected-by-tokyo-metropolitan-government-program-fde6b34ddc16

  10. Been reading about this crypto currency game and here is my take on it.
    Yes lots of people I have seen have mega amounts of virtual currency which equates to a large amount of FIAT currency.
    BUT IMO it all just seems a bit of a "fugazi". If the exchanges are currently way over loaded to handle all the transactions then realistically how easy is it to convert crypto to FIAT if everyone is trying to cash out???????

  11. Appreciate your video, but you may want to run through your processes before recording your show. Looked like you were figuring it out as you went along. Also would be nice to have an update showing that the transfer actually did go through.

  12. IOTA buy from Binance (https://goo.gl/VKtwhH) It is an up and coming cryptocurrency exchange with a focus on crypto-to-crypto trading. The platform has started to gain popularity in the blockchain community thanks to its insanely low trading fees,(0.1%), high withdrawal limit and available many altcoin for trading(including Iota,Ripple,ADA, NEO etc).

  13. I'm a newb at this, and I can say that I didn't really learn anything. It was like you were talking to people who already knew what to do.

  14. Thumbs down. By the thumbnail I knew I'd thumbs down and wouldn't finish. Keep the video on topic and stop rambling while forcing yourself to be charismatic and personable.

  15. Binance is much better website to buy Iota and many other cyptocurrencies. You can register very quickly and it has a very easy interface https://www.binance.com/?ref=12367033

  16. Hello David,

    How to sell my Iota or even other cryptocurrency? Can I change out my IOTA for bitcoin on an exchange?

    Thank you!

  17. After days of research. Finally found the good and easy way to buy most of the alternative coins – Binance. Please use the below refer link

    https://www.binance.com/?ref=13380711

  18. IMO, Streamr (DATA) will win over IOTA in future, its better tech, very cheap now and people are not aware of it.

  19. Hi David. I appreciate your insights. I am hoping to get your thoughts on a data related factor I have recently begun to use to evaluate the potential return a cryptocurrency has (and we can take this offline, if you would like).

    I have set up a spreadsheet to equate the price of crypto's I am evaluating to the price of Bitcoin, figuring that a "Bitcoin equivalent" price is the highest potential price for any crypto right now. To do this, I use the Max (or Total) Supply of that currency proportionally to Bitcoin’s 21M Max Supply.

    From there, I can compare all crypto's "Bitcoin equivalent" price and use that as one factor in my decision to buy. So, if I were to feel all other factors are equal between two cryptos (which they never are…) and one has 3959% potential (IOTA currently) to reach it's "Bitcoin equivalent" price and the other has 68,000% potential (PAY currently ) to reach it's "Bitcoin equivalent" price, it’s better to go with the better potential return for the same risk. Does my premise make sense? I’d love your thoughts on this and I’m happy to share the formulas I am using to look at this. Thanks!

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