Is it time to invest in IOTA ?
Although Bitcoin and Ethereum have been blowing up, investing in cryptocurrency is not for the fainthearted. This is because these digital currencies are too volatile having wild fluctuations in price.
In recent years, many people thought that the early gold rush days were over—but with the price of Ethereum going bananas and price of bitcoin more than doubling in 2017—it appears that we are still enjoying Gold Rush Days!
Investors who have great hopes in the future of this technology —particularly the blockchain, the integrity of the common ledger and decentralised network—drive current Cryptocurrency market capitalisation, notwithstanding the declared price of cryptocurrency.
Who could have imagined that an innovation—the Internet of all things (IoT)—could bring a completely new experience in the cryptocurrency space, and motivate the creation of a digital currency that does not operate on blockchain technology?
This digital currency, claimed to be revolutionary is IOTA and presents yet another opportunity for investors. However, to invest in it, you need to understand how it works to avoid mistakes that come with investing in new digital currencies and assets.
Investing in a digital currency is no ordinary investment. As they say, smart investors know how to invest in emerging technologies”. Will IOTA disrupt the blockchain technology of cryptocurrencies?
What makes IOTA attractive & a good investment opportunity?
Apart from its unstable value, Bitcoin, the most valuable cryptocurrency on the market, has struggled with another major problem of low transaction processing— sometimes takes days to complete a simple transaction—because of the blockchain structure. Additionally, transactions on all the current cryptocurrencies attract transaction fees.
IOTA, through its core invention 'Tangle', promises a blockless distributed ledger with no need for mining, no transaction fees, and scales almost infinitely. This not only makes it attractive in the IoT space, but also increases the processing of transactions, since multiple transactions can take place on one device, securing the network and powering the system.
Just imagine if a cryptocurrency like Bitcoin or Ethereum was used to operate IoT, the system would quickly become too pricey. With IoT getting closer every day, IOTA may be placing itself as an effective digital currency fuel, and therefore a viable investment opportunity before it picks up speed.
IOTA came on stage in 2015 when it offered an Initial Coin Offering (ICO) that saw about 1337 Bitcoin being invested. A total amount of 2779530283277761 iotas has been created in the Genesis transaction.
IOTA can now be traded on one of the world’s largest and most advanced bitcoin trading platform— Bitfinex.
https://www.bitfinex.com/
As IOTA establishes a sound liquidity, I expect that buying it with other currencies in the future will be possible.
Today, Ethereum is $350 dollars and Bitcoin is over $2,500. Both of these digital currencies started small, but they are now offering investors a chance at millions for less than $1.
Are we to see a similar trend with IOTA?
Best of luck with your investments!
For updates, follow: @kayondo
If IOTA holds up over the next few years in terms of security and scalability, this will be a rocket!
See also: https://steemit.com/iota/@wekkel/iota-ready-for-the-internet-of-things
Thank you for pointing out this blogpost as well. I had missed reading it. Its is believed that the underlying technologyof IOTA can lead to a new ecosystem of applications built upon this decentralized and self-regulating peer-to-peer network.
Very good post. Same thoughts here. The crypto space brings the biggest group of uneducated investors with it. This group will only grow. We do need more indept investment analysis. An interesting website I found: https://www.coincheckup.com Since I use this site I make so much less basic investment mistakes.