All about IOTA: Differences Between Bitcoin and Its Outlook for 2018
While bitcoin dominated the headlines in 2017, all signs are clear that 2018 is the year of the altcoins. They are moving so fast that bitcoin’s share of the cryptocurrency markets is now below 40%. However, there is a challenge when it comes to investing in altcoins, and that challenge is getting to know which ones will carry the day! It is against this background that we present to you the IOTA coin. This is one of those altcoins that is poised to grow significantly in 2018.
So what exactly is IOTA coin?
IOTA is an altcoin that is focused on the internet of things technology. This is the technology that allows devices to collect and manipulate data, as well as communicate with each other. IOTA coin is designed to be the ledger through which, these devices communicate with each other.
How different is IOTA from Bitcoin
Bitcoin and IOTA are both cryptocurrencies but beyond that, their differences are worlds apart. Here are some of the most glaring differences between the two.
The anchor technology
Bitcoin, like most other cryptocurrencies is anchored on blockchain technology. This is quite different from IOTA which runs on tangle technology. This makes IOTA quite easy to scale as compared to bitcoin that has faced serious scaling issues up to this point.
For new bitcoins to be generated, they have to be mined, and the mining process has become difficult and expensive over time. This explains why bitcoin mining is almost centralized at this point, in the hands of a few corporations that have the resources. On its part, IOTA does not require any mining since it is not based on blockchain. This makes it relatively cheap to transact with, as opposed to bitcoin.
One of bitcoin’s biggest flaws is high transaction costs. On its part, IOTA has no transaction fees, making it the coin perfect for use in making micropayments. This is one of the most exciting aspects of IOTA coin, as compared to bitcoin and many other cryptocurrencies in the market.
How to trade IOTA
To trade IOTA, you need to first purchase it, which is quite an easy process. That’s because IOTA is listed on most of the large cryptocurrency exchanges. You can trade any of your other cryptos for IOTA, or buy it directly using fiat currency. From that point, you can trade your IOTA any time you wish.
IOTA outlook for 2018
2018 will be IOTA’s year, and it won’t be surprising if it hits $10 and above in the course of the year. That’s because, the internet of things technology is advancing quite fast. As more and more devices become smart, the demand for IOTA will grow.
Secondly, one of the characteristics of the cryptomarket is that once a coin starts gaining value, investors pile in, which pushes up prices due to the factors of demand and supply. IOTA is no exception to this. Right now, IOTA’s value is growing because investors have seen its rise in the last few months, and don’t want to miss out. This buying pressure will continue to push up IOTA price in 2018. Are you ready to invest in IOTA? Visit hashtag investing and learn more about IOTA.