With the development of Web3.0 and crypto, new blockchains are emerging as potential competitors to the likes of Ethereum and other successful blockchain-based networks. IOST is a decentralised network offering high scalability and throughput to users. 

This guide reviews the main features and fundamentals of network’s native IOST token and shows interested investors where to buy IOST crypto tokens from the best crypto exchanges globally. 

How to Buy IOST Crypto – Quick Steps

Below is a quick overview of how to buy IOST with Crypto.com. Keep reading for detailed guide on where to buy IOST.

  • Open an Account with Crypto.com – Users can access the Crypto.com website or mobile app to begin registration. After completing the form, investors may set their passcode to access the Crypto.com platform.
  • Complete the Verification Process – Users have to provide a photo ID and country of residence to complete the verification process. 
  • Search for IOST – Once verified, users can search for IOST token on the Crypto.com search bar. Afterwards, users can begin creating their new order. 
  • Purchase IOST – The final step is to enter the payment details and the amount of IOST to purchase. After entering their passcode, users can confirm their transactions. 

Where to Buy IOST Crypto – Best Platforms

Before investing, users may want to review the best available cryptocurrency exchanges that offer IOST tokens. Users can review the best exchanges based on the assets offered, pricing structure and additional features provided. 

The sections below review two cryptocurrency exchanges that have listed IOST. 

1. Crypto.com – Overall Best Platform to Buy IOST

Crypto.com is one of the best places to buy IOST. crypto.com logoLaunched in 2016, Crypto.com offers more than 250 digital assets to trade. Along with major tokens like BTC and ETH, Crypto.com provides major diversification opportunities. 

Users can access NFT-based projects and tokens and buy Decentraland and other digital assets. Crypto.com offers an intuitive user interface that lets users buy and sell crypto at true cost. Cryptocurrencies can also be sent to the Crypto.com DeFi wallet – a decentralised wallet that lets users store cryptos with a private key. Users may also take out Crypto loans with the Crypto.com platform. 

Crypto.com Exchange

Additionally, Crypto.com offers the opportunity to stake cryptos in return for interest. This lets users enter into passive income-making opportunities. Furthermore, users can take out crypto loans, access margin trading and even invest in CRO – the native token of the platform. 

In terms of fees, Crypto.com charges a maker/taker fee beginning at 0.40% per transaction. However, users may have to pay additional fees on payment methods. For example, Crypto.com charges an additional 2.99% fee on credit transactions. 

On the other hand, users can take out a Crypto.com VISA card on the platform. With this payment method, users can earn up to 5% to 8% cashback while buying cryptocurrencies. To cater to the growing Web3 consumer base, a Crypto.com NFT marketplace is also available via the platform. 

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

2. Binance – Also Listed IOST

Binance is one of the best altcoin exchanges that offers over 600 + digital assets to invest in. Binance LogoIn terms of popularity, Binance is the largest global crypto exchange in terms of the trading volume. This exchange attracts an average of $2 billion daily in trading volume and processes 1.4 million transactions per second. 

Users can access multiple features and tools with Binance. For advanced traders, Binance provides spot and margin trading futures. Investors can take out derivatives contracts and leverage trades with ease. 

A social trading platform, Binance offers CopyTrading tools, allowing users to copy the trades of skilled investors. Users may stake cryptos with Binance Earn. Depending on an individual’s flexibility, they can earn a high APY (Annual Percentage Yield) by locking up assets or earning a lower APY. 

binance_splash

Binance also offers users the Binance launchpad – an exclusive token launch platform for entrepreneurs and early bidders. Furthermore, new users can access the Binance academy to learn about blockchain projects, altcoins and NFTs. 

Binance provides some of the lowest trading fees with its maker/taker pricing model. Investors pay a maker/taker fee starting at 0.1% for spot trading activities. The rate can reduce by 25% if users hold BNB – the platform’s native token. 

However, Binance may charge higher transaction fees on payment methods. For example, users must pay a 4.5% fee when purchasing cryptos with credit cards. Regarding bonus schemes, users can participate in the Binance referral programme to earn commissions for bringing on new users. 

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

What is IOST?

IOST is an ultra-fast and decentralised blockchain network with its nodes and wallets; IOST crypto logobased on the next-generation consensus algorithm “Proof of Believability” (PoB). The IOST platform provides users with a completely decentralised way to trade digital assets and DApp developers with the opportunity to deploy multiple products with a high throughput rate. 

According to the IOST whitepaper, popular blockchains like Ethereum fail to provide high levels of throughput and transactions while maintaining sustainable gas fees. IOST has responded by providing a number of groundbreaking innovations like the Efficient Distributed Sharding (EDS) protocol to increase throughput. 

The EDS system makes sharding sufficiently large and bias-resistant to promote client-server randomness when securing validators. 

IOST crypto home

Thus, the IOST network can provide up to 100,000 transactions per second, which is jigger than some of the biggest blockchains like Ethereum and Cardano.

IOST tokens serve as the main utility token of the IOST network. IOST stands for Internet of Services Token.

Firstly, the IOST crypto asset (ticker symbol also IOST) serves as the medium for maintaining all transactions and fees. The token also works as a payment method for rewards. Secondly, the IOST token is used as a payment provider for services and goods provided by service providers and merchants on the platform. 

Why Buy IOST Coin?

The IOST network is a growing network which aims to provide higher transaction speed while not disrupting the scalability of the blockchain. However, there are many additional benefits of purchasing IOST crypto. 

In the sections below, we mention 5 features that may attract investors to buy IOST coins. 

High Throughput 

The IOST aims to provide high throughput through its network. The network believes that bringing on new customers is leading to increasing gas fees among the most extensive blockchain networks in the world. By providing a PoB protocol, the IOST token provides users high transaction speeds. 

According to the platform, IOST has the potential to provide up to 100,000 transactions per second (TPS). This is much higher compared to Ethereum’s average of just 20 TPS. 

Multi-Utility Token

As mentioned the IOST currency is a multi-utility token (several use cases) which entices developers and users by providing a range of features. The IOST network uses the IOST cryptocurrency to collect transactions and payments among users on the platform. 

Furthermore, IOST makes payments to validators who run smart contracts. It is also used to process messages on the network and using resources shared by the general ecosystem. 

Proof of Believability Consensus

The Proof of Believability (PoB) protocol guarantees liveliness and safety of transactions on the IOST platform. Since IOST nodes are selected based on voting as well as the level of staking by individual participants, there is an increased amount of decentralisation on the IOST network. 

Discounted Rate 

The IOST crypto price has faced a major price decline throughout 2022. Since September 2022, IOST has corrected from a price of $0.079 to $0.013. This is a price decrease of 83%. While the current market sentiment is not strong for the token, users interested in the long term may choose to evaluate and decide on their investment. 

IOST crypto price

The token experiences high volatility. However, it is still in the initial stages of its development. 

Future Roadmap Plans

The IOST project has already presented plans for its future. The network wants to improve IOST mainnet features by including GitHub integrations and multiple API additions. Furthermore, the developers want to launch an IOST cross-chain bridge to promote the interconnection with multiple DApps and products. 

By establishing partnerships with some of the best metaverse projects, IOST is also looking to expand into the web3.0 sector in the coming years. 

IOST Price

IOST is an ERC-20 tokens that raised $35 million from a private token sale in 2017. These makeup up 40% of all IOST tokens. Currently, there is a supply of more than 18 billion IOST tokens and a maximum supply of 90 billion tokens. 

The IOST coin price went live at $0.027 in January 2018. Unfortunately, the IOST token has experienced its highest price in the month of its initial release. 

IOST went to an all time high price of $0.136 on January 24th, 2018. This totals a return on investment of 403% in less than a month of trading. 

IOST crypto 1-month price

Since its release, the price of IOST has been met with volatility in the following years. IOST token fell to a low of $0.0015 in March, 2020. However, IOST has since risen by more than 736%. 

Currently, IOST trades at a price of $0.013. Overall, IOST has not provided a profitable return for initial investors and has been down 51% since January 2018. 

IOST Price Prediction

Users may be interested in learning about the IOST coin price prediction before investing. An essential feature may be the future roadmap of IOST. The crypto plans to launch a cross-chain to bring more DApp developers and users on board. 

Many analysts and price forecast sites consider these factors when analysing the future token price of crypto assets. The sections below review possible IOST price predictions for the coming years. Since price predictions should not be taken at face value, investors may want to conduct their own research before investing. 

CryptoNewsZ, a crypto news site, is bullish on the IOST coin price for 2022. They predict an average price of $0.032 by the end of the year. This adds up to a 146% price increase from current levels. 

Furthermore, CryptoNewsZ is also bullish on IOST for the long term. The news site expects IOST to trade at an average price of $0.047 by the end of 2025, with a maximum price of $0.05. The price prediction equates to a maximum potential increase of 284% from current levels.

We also wrote an in-depth IOST price prediction on this website.

Best IOST Wallet

Should users choose to buy, sell and trade IOST tokens on a decentralised exchange, we recommend the Crypto.com DeFi wallet as one of the best cryptocurrency wallets to use. As part of its expansion into the DeFi sector, Crypto.com released the DeFi wallet in 2020. 

This non-custodial wallet lets investors store their crypto assets in a highly secure platform. Crypto.com provides users with private keys to access the DeFi wallet – meaning that the funds are not stored on the centralised exchange. Users with assets on the Crypto.com app can download and connect the DeFi wallet on iOS and Android to send assets. 

Crypto.com DeFi wallet

Users are provided with a 12-seed recovery phase to access their assets during the set-up process. The Crypto.com DeFi wallet also uses biometric security and 2FA services to increase security. 

Along with trading and swapping opportunities, popular Crypto.com features such as staking can also be accessed with the wallet. However, Crypto.com charges slightly higher fees with the DeFi wallet. 

Users pay a 0.5% service fee on the earnings per withdrawal.

How to Buy IOST Crypto -Tutorial

Should users choose to invest in IOST, we recommend Crypto.com as the best available exchange. Crypto.com allows users to buy, sell and trade IOST and 250 + crypto assets. Furthermore, users can buy IOST with a Crypto.com VISA card and stand a chance to earn cashback. 

The sections below provide users with a step-by-step guide on how to buy IOST crypto tokens.

Step 1: Open an Account with Crypto.com

Users can begin trading via the Crypto.com exchange on desktop or mobile. To create a free account they must complete the registration form – entering their full name, email address and date of birth. 

Register with crypto.com

Users must confirm their account registration via an email confirmation link. 

Step 2: Verification Process

Users must verify their accounts before trading cryptocurrencies. To do so, users must upload a legal photo ID on the Crypto.com platform.

Crypto.com also provides 2FA authentication protocols to increase security on the platform. For example, Face ID setup and a 6-digit code can be created to access the account. 

Step 3: Search for IOST Token

Users can now begin to search for their cryptocurrencies with Crypto.com. Simply search for “IOST” on the platform’s search navigation bar and click on the asset. 

Search for cryptos on Crypto.com

Users can now begin to create the buy order form to complete the transaction process. 

Step 4: Buy IOST Token

The final step is to create the buy order form. Depending on the fiat currency chosen, the Crypto.com platform shows the amount of fiat to be paid in exchange for tokens. Users can also choose their preferred payment method with which they would like to buy IOST coins with.

Buy IOST on Crypto.com

Click on “Confirm to Buy” and enter the 6-digit code to complete the transaction. 

Conclusion

IOST is a highly scalable decentralised blockchain network offering users high throughput. Functioning on a PoB consensus, IOST can handle up to 100,000 transactions per second.

We have highlighted the key talking points and price predictions for IOST in the coming years, as well as where to buy IOST crypto at a safe exchange. For users looking to buy IOST token, we recommend Crypto.com as the platform to get started investing. 

IOST crypto logo

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

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