The post Iota (MIOTA) Price Prediction by Reid McCrabb appeared first on Benzinga. Visit Benzinga to get more great content like this.
Don’t even need an Iota (MIOTA) price prediction and just want to invest? You can buy Iota on Uphold, OKX and Binance (or Binance.US for U.S. users).
Iota has gained attention as it continues to be used in different internet of things (IoT) applications. Iota has three functioning parts – a decentralized ledger, a global foundation and a cryptocurrency. One Iota is the smallest fraction of the coin someone can trade. The larger and more common unit is MIOTA (1 MIOTA = 1,000,000 IOTA). This relationship is similar to the relationship between a Bitcoin and a Satoshi (1 Bitcoin = 100,000,000 Satoshi). The decentralized ledger is similar to Ethereum, with smart contract capability. The global foundation is based in Berlin, Germany, and is responsible for improving the Iota network.
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What is Iota (MIOTA)?
Iota’s key differentiating factor from other protocols is that it does not refer to itself as a blockchain. Rather, Iota is referred to as a “tangle.” For blockchains, consensus comes through a proof-of-stake or proof-of-work mechanism. In a tangle, a confirmation process is used where each transaction verifies two previous transactions. The advantages are twofold. First, a tangle confirms transactions faster than a typical blockchain. It also requires zero fees or miners. This gives Iota the potential to be very scalable and energy efficient.
Iota (MIOTA) Market Position
Iota is the 69th-ranked cryptocurrency in terms of market capitalization, valued at just over $675,000,000. The total circulating supply today is the maximum total supply, so there is no more Iota issuance to potentially dilute the holders. Iota’s main competition is with other Layer 1 blockchains possessing smart contract capabilities.
Specifically, Iota is competing with blockchains focused on IoT, which refers to more items being connected to the internet. Things like smartphones, televisions and refrigerators are growing increasingly connected through cloud computing. This transformation affects many industries. Iota’s decentralized ledger technology can help companies better track this supply chain of items through an open and immutable database.
CryptoNewsZ Bullish Long-Term Iota (MIOTA) Price Prediction
Writers on CryptoNewsz shared bullish sentiment in regard to the Iota (MIOTA) price prediction. With its decentralized ledger technology holding no transaction fees, the network could prove very scaleable. This benefit could also emerge as an alternative in comparison to blockchains with expensive transaction fees. Iota (MIOTA) has all of its coins in circulation. Some protocols do not mint all their tokens and keep some in reserves. Minting all the coins at the start tends to be positive for investors since no potential dilution will occur down the road.
2023 Iota (MIOTA) Price Prediction
The following price prediction was conducted by CryptoNewsZ. The site uses technical analysis to make predictions on the price action for different cryptocurrencies. There is certainly no guarantee that the price predictions will be accurate. That said, CryptoNewsZ is calling for Iota (MIOTA) to stay rather flat and slightly bearish through 2023. The site calls for an average price of $0.20 by end of the year.
2024 Iota (MIOTA) Price Prediction
CryptoNewsZ calls for an average price of $0.35 in 2024. The prediction cites the decentralized ledger technology continuing to develop, as well as becoming more common in its use. While technological development is important, it will also depend on the state of the crypto market. If Bitcoin is rallying by 2024, altcoins are more likely to be positive as well.
2025 Iota (MIOTA) Price Prediction
In 2025, CryptoNewsZ predicts an average price of $0.47, which is nearly 2x today’s price, so the analysis is bullish over the next two years. While this type of price movement is not uncommon in crypto, these volatile swings can also go in the complete opposite direction. High-risk assets like cryptocurrencies can go to zero and do so much more often than stocks, real estate and commodities.
2026 Iota (MIOTA) Price Prediction
Another site that does long-term price predictions is Changelly. In 2026, Changelly is calling for an average price of $1.06 for Iota (MIOTA). For this price level to be reached, the rest of the crypto market likely would be in a bull run. Also, Iota (MIOTA) would need to maintain its relevance as a top 75 cryptocurrency by market cap and continue growing its ecosystem and user base. This type of prediction is incredibly bullish, and it is important to keep in mind that the predictions are not always accurate and coins can go to 0.
2027 Iota (MIOTA) Price Prediction
Changelly continues in its bullish predictions with a call for a $1.59 average trading price for Iota (MIOTA) in 2027. If the price does reach this level, investors will likely have gone through a number of ups and downs. Gains in crypto are rarely a smooth ride, so be prepared for volatile price swings, especially in the coming months, if you are looking to have exposure in the crypto market.
2030 Iota (MIOTA) Price Prediction
In 2030, Changelly calls for an average price of $3.48 for Iota (MIOTA). This price level would surpass its 2021 price of $2.35 and then some. For this price level, much more adoption would need to occur rather than just speculative trading. This situation would be brought on by Iota’s feeless transactions and scalability, as well as growth in the IoT sector. Iota (MIOTA) is certainly a coin to watch, but investors should definitely be cautious in this high-risk market.
IOTA Price Prediction: IOTA vs. Ethereum
The biggest threat to Iota (MIOTA) is Ethereum’s continued improvement in scalability. The Ethereum network is relatively slow and expensive today; however, it is the most used Layer 1 blockchain in the world. It is also still being built. The Ethereum roadmap has plans for the blockchain to become faster and cheaper. Furthermore, Layer 2s are making that a reality today. If the price of Ethereum transactions is driven close to zero, it could be difficult for IOTA to remain relevant.
Where to Buy Iota (MIOTA)
Luckily,. Iota is available for purchase on a few of the best crypto exchanges including Uphold, OKX and Binance (or Binance.US for U.S. users). Alternatively, you can buy Iota on a decentralized exchange (DEX). For this, you will need a wallet and can use one such as Coinbase wallet or Iota’s native Firefly wallet. The tradeoff here is that users who use their own wallets will be responsible for password protection and security. While there are no centralized failures as with FTX, there are risks of forgetting your password and phishing scams. So users must pick their poison if they are looking to get their hands on Iota (MIOTA).
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securely through Binance’s
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Binance is the largest cryptocurrency exchange in the world by trading volume. In fact, it tops the ranks of cryptocurrency exchanges maintained by CoinMarketCap, which are ranked based on 24-hour trading volumes, exchange score and average liquidity. Binance triumphs over exchanges like Huobi Global and Coinbase, which follow closely in 2nd and 3rd places, respectively.
Previously based in Malta, the Binance Group is now based in the Cayman Islands. Binance has several locations and entities registered across the globe. In the United States, it’s known as Binance.US. The exchange in the U.S. uses the same cutting-edge technology and trading services as its global counterparts with the difference being U.S. regulatory compliance. It is operated by San Francisco-based BAM Trading Services.
Binance.US ranks 9th on CoinMarketCap’s list of the top 10 exchanges based on metrics like 24-hour trading volume, exchange score and average liquidity. Binance could be a good platform for you to invest in cryptocurrencies if you are a U.S.-based trader who trades frequently, doesn’t intend to pay high trading fees and needs access to a large number of cryptocurrencies.
Best For
- US Citizens
- Frequent day traders
- Users interested in Binance Smart Chain (BSC) and Binance Coin (BNB)
- Low trading fees
- Easy-to-use platform
- Wide selection of altcoins — it offers 51 cryptocurrencies apart from Bitcoin (BTC)
- Good customer service
- High liquidity because of large trading volumes
- Only residents of 43 states in the U.S. can trade on Binance.US. You cannot trade on this platform in New York, Connecticut, Hawaii, Texas, Vermont, Idaho and Louisiana
- Despite the wide selection of altcoins, the number of tokens offered on the U.S. platform is not comparable to the hundreds of choices available on the Binance global platform
- There is no option for telephonic customer support
How Long Will It Take for Iota (MIOTA) to Reach $1.00?
Iota (MIOTA) traded for north of $2.50 at its peak in 2021, so a return to $1.00 is within reason. This price level would require a 4x from today’s price of $0.25 so it is still a lofty goal. For this to happen, the crypto market would need to sustain a bull run. In today’s economic conditions, there are a lot of volatile swings. Markets are in a bear market, and risk-on assets like cryptocurrencies get hit the hardest from bear markets. For Iota (MIOTA) to reach $1.00, a broader market rally would need to occur, as well as have IOTA (MIOTA) stay in the top 100 cryptocurrencies.
Where to Store Iota (MIOTA) Safely
Investors who purchase Iota (MIOTA) with a wallet and want to make sure it is secure should probably pair it with a hardware wallet, which gives users an extra layer of security by keeping their private keys off of the internet and therefore invulnerable to cyberattacks. Hardware wallets are also referred to as cold storage. While they are safer than software wallets, they lack some of the utility that software wallets have. So, it is often best to pair the two.
Best Hardware Wallet: Ledger Nano S Plus
One of the most popular hardware wallets is the Ledger Nano S Plus. This hardware wallet looks a lot like a flash drive and is one of the cheapest and easiest ways to give investors an extra layer of security. Ledger also just opened preorders for its new Ledger STAX model. All Ledger wallets support a ton of different cryptos (more than 1,800) including Bitcoin, Ethereum, Dogecoin, MIOTA and all ERC-20 tokens.
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Launched in 2014, Ledger has transformed into a fast-paced, growing company developing infrastructure and security solutions for cryptocurrencies as well as blockchain applications for companies and individuals. Born in Paris, the company has since expanded to more than 130 employees in France and San Francisco.
With 1,500,000 Ledger wallets already sold in 165 countries, the company aims at securing the new disruptive class of crypto assets. Ledger has developed a distinctive operating system called BOLOS, which it integrates to a secure chip for its line of wallets. So far, Ledger takes pride in being the only market player to provide this technology.
Best For
- ERC-20 tokens
- All experience levels
- Easy to set up and use
- Supports more than 1,500 different digital assets
- Tamper proof
- Portable
- Long-lasting battery
- Bluetooth connectivity features
- Can be quite pricey
Best Software Wallet: Coinbase Wallet
While Coinbase is known for its centralized exchange, it also has the Coinbase wallet product. This wallet allows users to connect to different decentralized applications and trade cryptocurrencies. Many more cryptocurrencies are available for trading by using the Coinbase wallet rather than the exchange.
Current Crypto Prices
While crypto has been under pressure over the past 12 months, the market has begun to see some relief. Bitcoin has led the charge, with altcoins following in a swift swing upward. While many are calling for more pain to come in 2023, there is also the possibility that the worst of the bear market is in the rearview mirror.
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So, is Iota (MIOTA) a Good Investment?
The crypto market is in a bit of a dicey situation, with the Federal Reserve continuing to raise interest rates. If you are a believer in crypto, Iota (MIOTA) could be an attractive investment for you. As long as it is able to stay relevant, it will likely trade in cohesion with the rest of the crypto market. Investors with a belief in the underlying technology and a willingness to ride volatile price movements may be enticed to get some exposure to Iota (MIOTA).
The post Iota (MIOTA) Price Prediction by Reid McCrabb appeared first on Benzinga. Visit Benzinga to get more great content like this.
