How To Buy IOTA UK – Buy IOTA In Under 5 Minutes

Launched in 2016 – IOTA has since become a multi-billion pound digital currency. If you want to buy IOTA in the UK – you’ll first need to open an account with an online broker or exchange, deposit some funds, and decide how many tokens you wish to purchase.

In this guide, we show you how to buy IOTA in the UK and review the best brokers to complete the investment with.

#1 Broker to Buy IOTA – eToro

How To Buy IOTA – Choose a Broker

The first thing you need to do when thinking about how to buy IOTA in the UK is to choose a suitable broker. There are plenty of options in the market, albeit, we found that the following are worth considering:

• eToro – Overall Best Broker to Buy IOTA UK
• OKEx – Best Low-Cost Broker to Buy IOTA UK via a Crypto Deposit
• Binance – Best Broker to Buy IOTA for Asset Diversity

We explain the pros and cons of the above IOTA brokers further down in this guide.

Invest Invest $ = IOTA Refresh More Filters Sort By Rating 2 Providers that match your filters Payment methods Credit Card Paypal Sepa Transfer Skrill Sofort Giropay Neteller Features Instant Verification For Beginners Wallet Service Mobile App Usability Very Good Good Average Bad Support Very Good Good Average Bad Fees 1 or better Safety 1 or better Coin selection 1 or better Rating 1 or better Clear Filter Recommended Broker Rating for $ 100 you get 140.6840MIOTA What we like Trade real cryptos and crypto CFDs Licensed broker with deposit insurance Integrated wallet Fees Safety Coin selection Features Payment methods for $100 you get 140.6840 MIOTA Read more Buy now Read more CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider. Recommended Broker Rating for $ 100 you get 144.1322MIOTA What we like Careful selection of cryptocurrencies Regulated by CBI and MiFID in Europe No commissions and low spreads Fees Safety Coin selection Features Payment methods for $100 you get 144.1322 MIOTA Buy now CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.

How to Buy IOTA in the UK – A Quick Guide For 2022

The process involved when buying IOTA in the UK is relatively straightforward – as per the quickfire guide below.

• Step 1: Open an Account with eToro – eToro is the best broker to buy IOTA in the UK – as you will benefit from low fees and commissions, lots of supported payment methods, and a strong regulatory framework. Therefore, the first step of the process is to open a brokerage account with eToro.
• Step 2: Upload Your ID – Once you’ve registered an account, you will need to provide eToro with a copy of your government-issued ID – which can be either a passport or driver’s license.
• Step 3: Deposit Funds – You will need to deposit funds before you can buy IOTA in the UK. eToro supports debit/credit cards, e-wallets like Skrill and Paypal, and bank transfers.
• Step 4: Buy IOTA – With your eToro account funded, you can now search for ‘IOTA’. Upon clicking on the ‘Trade’ button, you will see an order box appear. Simply enter your stake (minimum $25) and click on the ‘Open Trade’ button.

By heading over to your portfolio dashboard on eToro, you will now see your IOTA tokens. When you get around to cashing your investment out, all you need to do is click on the ‘Sell’ button next to IOTA.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider. 

Where to Buy IOTA in the UK

In the sections above, we provided you with a quickfire breakdown of which brokers to consider when buying IOTA in the UK. As choosing the right provider is absolutely crucial in the cryptocurrency investment arena – below you will find comprehensive reviews of the best IOTA brokers of 2022. 

1. eToro – Overall Best Broker to Buy IOTA UK

Our top-rated broker for buying IOTA in the UK is eToro. Launched in 2007 – this online broker is now used by more than 20 million investors. It is authorized and regulated by the FCA, as well as licensing bodies in Cyprus and Australia. As such, by choosing eToro to buy IOTA in the UK – you can be sure that your capital is safe at all times.

The investment process itself should take you no more than 5 minutes when using eToro. Once you’ve provided the platform with your personal details, you will then be able to make a deposit into your account. The best payment options supported by eToro include debit/credit cards and e-wallets like Paypal. UK bank transfers are also an option. Either way, once you’ve made a deposit, you can then buy IOTA in the UK at a minimum investment of just $25 – or about £18.

If you are thinking about adding other digital tokens to your portfolio – eToro supports plenty of other cryptocurrencies. This includes major blockchain assets like Bitcoin and Ethereum, as well Defi coins such as Decentraland, AAVE, and Uniswap. All cryptocurrencies – including IOTA, can be purchased at eToro on a spread-only basis. This ensures that you are able to invest in IOTA in the UK without paying high brokerage fees.

While we are on the subject of fees, we should also note that you will only be charged 0.5% to deposit funds. In comparison, Coinbase – which is one of the most popular cryptocurrency exchanges in the market – will charge you 3.99% to use your debit card. Once you have invested in IOTA, you might also consider some of the other trading tools offered by eToro. This includes a CryptoPortfolio, which allows you to buy heaps of different tokens through a single investment.

The copy trading tool is also notable, as this allows you to invest in a successful eToro trader. Then, any assets that the investor buys or sells will be mirrored in your own account – at an amount proportionate to your stake. It is also important to note that eToro offers traditional assets, too. This includes stocks and shares from 17 countries, ETFs, and even forex, commodities, and indices. It’s also worth downloading the eToro app – which allows you to trade assets while on the move.

Pros

Cons

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider. 

 

2. OKEx – Best Low-Cost Broker to Buy IOTA UK via a Crypto Deposit

At its core, OKEx is a cryptocurrency exchange that gives you access to hundreds of digital assets. In most cases, you will be trading crypto-to-crypto pairs – meaning that in order to buy IOTA, you will first need to obtain an alternative digital token – like Bitcoin or Ethereum. If you already hold some crypto in an external wallet, it’s just a case of transferring the tokens into OKEx.

Then, you can swap them for IOTA. The commission applicable at OKEx when performing a crypto-to-crypto trade is just 0.10%. So, buying £200 worth of IOTA would cost you just 20p in commission. On the other hand, if you do not have any crypto to hand and thus – need to buy some with a debit/credit card – OKEx has you covered. In fact, not only does OKEx support Visa and Mastercard payments, but bank transfers, too.

If you’re keen to explore what other investment products are hosted on OKEx – you might want to check out its ‘Earn’ department. In a nutshell, this allows you to lock up your idle cryptocurrency tokens and earn interest in return. Although IOTA attracts an interest rate of just 0.02%, other supported coins pay double-digits. OKEx also offers a huge educational site that comes packed to the rafters with useful cryptocurrency trading guides.

Pros

Cons

Cons

at eToro, UK's #1 Broker

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

 

How to Buy IOTA in the UK – Detailed & Explained in Full

If you are looking at how to buy IOTA in the UK for the first time - this section is for you. Within it, we are going to walk you through the IOTA investment process step-by-step. This includes opening an account with eToro, making a deposit, and placing a buy order.  

Step 1: Open a Crypto Broker Account

Opening an account to buy IOTA in the UK at eToro is mandatory. This part of the process is much the same as opening an account with a traditional stock broker. That is to say, you will need to provide eToro with your personal information and contact details.

You will also need to select a username - before confirming your email address and mobile number.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider. 

Step 2: KYC (Know Your Customer)

KYC is a process implemented by all regulated brokers. In its most basic form, this is a process that requires you to upload a copy of your passport or driver's license. To prove your home address, you'll also need to upload a copy of a utility bill or bank account statement.

The latter needs to have been issued within the past three months. Once uploaded, eToro is usually able to verify the documents in less than a couple of minutes.

Step 3: Deposit Some Funds

In order to buy IOTA in the UK - you will, of course, need to make a deposit. eToro is great in this respect, as the broker allows you to instantly deposit funds with the following payment methods:

• Credit Card
• Debit Card
• Paypal
• Skrill
• Neteller

Although UK bank transfers are also supported, this won't be processed instantly. Instead, you might need to wait a couple of days for the funds to land in your eToro account.

Step 4: Go to IOTA Trading Page

To find the relevant trading page for IOTA, enter the name of the digital token into the search box. When you see IOTA appear, click it. On the next page, click on the 'Trade' button - which you will find at the top-right hand side of the screen.  

Step 5: Buy IOTA UK

Finally, you will now see an order box appear. If this is your first time learning how to buy IOTA in the UK - the good news is that completing the investment at eToro is simple. In fact, all you need to do here is enter your total stake into the 'Amount' box.

This needs to be stated in USD (minimum $25) - as this is the currency utilized on the eToro website. To complete your IOTA purchase, click on the 'Open Trade' button.

Buy IOTA – Best Place to Buy IOTA in the UK

When it comes to finding the best place to buy IOTA in the UK - we would suggest sticking with online brokers. The other option on the table is to go through a cryptocurrency exchange, but these platforms are less safe. 

Below we explain this sentiment in a bit more detail: 

Online Cryptocurrency Broker

There are many benefits to buying IOTA from an online broker. At the forefront of this is safety, not least because brokers like eToro are regulated by the FCA. As a UK resident, this is a crucial safeguard to have.

• Additionally, if the cryptocurrency broker is regulated by the FCA - this means that you can buy IOTA with fiat money.
• Once again using eToro as a prime example, this FCA-regulated broker supports deposits and withdrawals in the form of debit/credit cards, bank account transfers, and even Paypal.

Furthermore, once you buy IOTA from a regulated broker, you usually don't need to worry about storage. This is because you can keep your tokens stored at the broker until you decide to cash out.

Cryptocurrency Exchange

Some traders will instead look to buy IOTA from a cryptocurrency exchange. In most cases, the exchange will operate without a regulatory license - which means your capital is at risk. On the other hand, you will normally find that cryptocurrency exchanges offer a much broader range of digital token markets, and perhaps, lower fees.

Although less safe than regulated online brokers, exchanges are a good option if you want to buy IOTA with another cryptocurrency. This is because you won't be required to go through a KYC process, nor will you need to supply any personal information.

Ways to Buy IOTA UK

Depending on your choice of broker or exchange, the are several ways to buy IOTA in the UK.

This includes:

Buy IOTA With Debit Card

When using a regulated online broker to buy IOTA in the UK - it's likely that debit cards will be supported. The main benefit of buying IOTA with a debit card is the convenience that it offers. After all, you only need to supply your debit card number and the amount of IOTA tokens you wish to purchase - and the transaction will be completed instantly.

Take note, before you can buy IOTA with a debit card, you will need to go through a quick KYC process. This is the case with all fiat deposit methods.  

Buy IOTA With Credit Card