$1.38 1.92%
MIOTA · 206w

IOTA could be the next currency used to buy other currencies

Sorry if this has been talked about before, but I realized something. If I was to buy IOTA, I'd first have to buy some BTC or ETH from an exchange, pay a fee, and wait a few days to receive my crypto. I'd then have to move the BTC/ETH from the exchange for a fee, and then pay another fee to convert BTC/ETH to another crypto like IOTA. This whole process would take some time and definitely cost me some fees throughout the process. This process also considerably promotes BTC and ETH since both those currencies are used as the "universal conversion coin" basically. Pretty much any currency can be purchased by either one of them, and if you wish to buy altcoins you're almost forced to purchase BTC/ETH first, and subsequently pay numerous fees. I feel like this whole process could be streamlined via IOTA. It would be a much faster and much cheaper process than the former, and buyers of altcoins would realize that from using IOTA as the "universal conversion coin", they'd be saving a lot from the fees. With numerous people doing this, IOTA would benefit massively (although I don't know if this is actually a goal for IOTA). Let me know what you think
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MIOTA +1.92% · · 7h

Dev Status Update - September, 2021

Published by the IOTA dev team every month, this update will provide you with news and updates about our key projects! Please click here if you want to see the last status update. For monthly research...