How to buy IOTA crypto in Australia

Dominic Harper // April 14 // 0 Comments

IOTA is a platform that has a different blockchain design compared to the traditional ones utilised by most cryptocurrencies. This new platform is named Tangle and utilises a Directed Acyclic Graphs (DAG) concept.

IOTA doesn’t have any transaction fees. However, in order for a transaction to be deemed valid, each DAG Tangle node needs to approve two previous node transactions. This means that miners are removed as entities, and the number of users directly affects the network’s speed and growth.

The main objective of IOTA is to simplify the processes and transactions involving objects with sensors. A good example would be an IOTA-enabled vending machine that distributed soda without any Bitcoin latency or additional transaction fees.

Even though this technology is still improving and is under heavy development, it won’t be long until sensor-operated machines become a reality, in what we call The Internet of Things.

If you believe in the potential of IOTA crypto, then we can show you how to easily invest and get your hands on some in our step-by-step guide.

Where to buy IOTA crypto?

IOTA is a very popular coin, and a large cryptocurrency by market capitalisation, so you will be able to find it at many crypto exchanges in Australia. The biggest factor is that you choose an exchange that is safe and legit, so you don't get scammed. We recommend you choose an exchange from our list of the best crypto exchanges for Aussies, as they are all tested by us, and we can confirm they are secure and trusted.

In this guide of how to buy IOTA crypto, I will include screenshots from my personal CoinSpot account, so you can also open an account with CoinSpot if you want to easily follow along. The reason I choose CoinSpot as my cryptocurrency exchange is for the following reasons:

  • Over 360+ different cryptocurrencies supported, including IOTA
  • Most secure and trusted crypto exchange in Australia
  • Largest Australian exchange with more than 2.5 million users
  • Staking on 21 coins
  • Live Chat support
  • NFT marketplace where you can buy NFTs using any cryptocurrency you like

Exchanges where you can buy IOTA

Bybit
CoinSpot
Swyftx
Binance
MEXC
Crypto Exchange
Crypto Exchange
Bybit
CoinSpot
Swyftx
Binance
MEXC
Fiat Currencies
Fiat Currencies
AUD, USD, GBP, EUR, NZD & more
AUD
AUD, NZD
USD, GBP, EUR, CAD, AUD, HKD, JPY & 35 more
USD, TWD, AED, PHP, AUD, JPY, CAD, EUR & more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, LTC, XRP, EOS & 220+ more
BTC, ETH, LTC, XRP, BCH, ADA & 360+ more
BTC, BTG, BCH, ADA, ETH, ETC & 320+ more
BTC, ETH, XRP, LTC, BCH, BNB, NEO & 600+ more
MEXC, BTC, ETH, EOS, BCH, LTC & 1,520+ more
Deposit Methods
Deposit Methods
Visa/Mastercard, Apple Pay, Cryptocurrency
Bank transfer, BPAY, Cash, POLi, PayID, Cryptocurrency
POLi, PayID, OSKO, Bank transfer, Credit card, Cryptocurrency
PayID, Debit card, Credit card, SWIFT, SEPA, ACH, Cryptocurrency
Visa/Mastercard, Bank Cards, Bank Transfer, Apple Pay, Google Pay, Cryptocurrency
Trading Fees
Trading Fees
0% for spot, 0.01%/0.06% for derivatives
Market order: 0.1%, Instant buy: 1%
0.6%
0.1%
0.2% for spot, 0.02%/0.06% for futures

How to buy IOTA crypto?

7 easy steps

Buying IOTA crypto in Australia is really easy, all you have to do is follow along with these simple steps, and you will have your own IOTA in no time.

  1. Sign up with a cryptocurrency exchange
  2. Verify your account
  3. Deposit money into your account
  4. Go to the Buy section in the crypto exchange
  5. Select how much IOTA crypto you want to buy
  6. Buy IOTA crypto?
  7. Store your IOTA safely

1. Sign up with a crypto exchange

The first step is to open an account with your crypto exchange of choice. If you haven't decided, have a look at this guide on the top crypto exchanges in Australia (click here). Or if you want to use my recommended exchange, which I will use for my screenshots, open an account with CoinSpot. You can also read my CoinSpot review first before you decide.

To sign up with CoinSpot, click this link and you will be taken to a page like the screenshot below. Click Register in the top right corner, then fill out your email, create a password, click to prove you’re not a robot, then click Create Account.

2. Verify your account

After creating the account, you need to verify your account. Click on the "Complete Verification" button and continue with any steps that show up. You need to verify your email, and then then enter your identification details and finally upload a copy of your driver license. It can take a while for your verification to be finalised, so you can have a look around your CoinSpot account and get comfortable with the interface.

3. Deposit money into your account

Once your account is verified, it's time to deposit AUD into CoinSpot. In the top left of the account, you will see the "Deposit Funds" button. Click on that, and you should see the deposit page (see screenshot below). You can use whichever method you like from that list, but my recommendation is POLi. Funds are deposited instantly and there is no charge incurred. Type in the amount you want to deposit, select your bank, and then click the "Continue to POLi" button to finalise your deposit.

4. Go to the Buy section in your account

Once your money is in your CoinSpot account, you are ready to buy some IOTA crypto. Click on Buy/Sell in the menu along the top, then search IOTA. Click on Buy IOTA and you will see the purchase screen, like the screenshot below. The price of IOTA is shown clearly in the middle of the screen. 

5. Select how much IOTA you want to buy

Select how much AUD you want to spend on IOTA, then click the Buy button. You will see a pop-up which confirms how much you are spending, the fee, and how many coins you will receive. 

6. Buy IOTA crypto

When you have checked that all the information is correct, you can click Confirm Buy to finalise your transaction. Congratulations, you are now the proud owner of some IOTA!

7. Store your IOTA safely

Now that you have made your purchase of IOTA crypto you can find it in your CoinSpot wallet by clicking on Wallets at the top of the screen. You can see how much IOTA you own, and the value in AUD. You can leave your IOTA in CoinSpot, which is the most secure crypto exchange in Australia. If you prefer to be even safer, you can send your IOTA to a personal wallet. You can click here to read about the best crypto wallets for Australians

Frequently Asked Questions

Is buying IOTA crypto legal in Australia?

Yes, it is perfectly legal to buy, sell and own IOTA crypto in Australia.

How to buy IOTA crypto with debit/credit card in Australia?

Not many Australian crypto exchanges support debit and credit cards, but Swyftx does. You can click here to open an account with Swyftx, or read our full review here first.

Is buying IOTA crypto safe in Australia?

If you choose a trustworthy and secure cryptocurrency exchange, it is safe to buy IOTA in Australia. CoinSpot is the #1 top crypto exchange in Australia, and you can be assured that it is safe to buy IOTA crypto using their platform.

How do I buy other crypto in Australia?

If you want to buy other cryptocurrency such as Bitcoin, Dogecoin or Ethereum, you can follow the same steps above, but in Step 4, type in the coin you want to buy instead of IOTA.

About the Author: Dominic Harper

Dominic has a background in finance and is passionate about cryptocurrency, blockchain technology and NFTs. He has been investing in crypto since 2017, and is excited about the potential for innovation and creative uses for NFTs in the near future.

Stay up to date with vital crypto news

Recent Posts

Stay up to date with vital cryptocurrency news