IOTA is the latest cryptocurrency with a focus on the Internet of Things. It is different from other cryptocurrencies in that it uses a new type of blockchain called Tangle, which helps to solve some of the issues that have been affecting Bitcoin and Ethereum.
The how to buy iota on binance is a step by step guide for buying IOTA. It includes how to create an account, how to trade your BTC, and how to withdraw your coins.
Tom Alford is a British actor. contributed to this article. 19 July 2018
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What exactly is IOTA? IOTA may be the cryptocurrency for you if you enjoy the concept of the internet of things, zero transaction costs, and a cryptocurrency that has abandoned blockchain in favor of an entirely new technology. Perhaps blockchain will become obsolete, and IOTA’s new technology will be the one that really transforms the world? In this IOTA review and guide, we’ll find out.
What Is The Meaning Of The Name IOTA?
IOTA comes from a Greek term that means “a very tiny quantity of anything.” This refers to the ability of cryptocurrencies to execute microtransactions rapidly and at no cost. The IOTA team, on the other hand, would argue that this is part of the name’s meaning, and that it officially stood for “Internet Of Things Application.”
IOTA is also the name of the cryptocurrency’s smallest unit. One thousand IOTA would make up a ‘kilo IOTA.’ This set of units may be scaled up to the ‘Peta IOTA.’ To grasp the whole system of units in this cryptocurrency, look at the graphic below:
It’s also worth noting that the IOTA ticker symbol is MIOTA. When it comes to locating the right market on bitcoin exchanges, this is critical.
What is the Internet of Things Alliance (IOTA)?
To begin, it’s necessary to first comprehend what the “internet of things” is. In a nutshell, it entails connecting various devices and allowing them to communicate with one another. Would you want to be able to manage your printer, lighting, entertainment system, and home security system all from one phone? Most people, we’re sure, would think this is fantastic and would desire this level of connectedness. To be honest, the world is already going in the direction of the internet of things. We don’t believe it’s an issue of if it’ll happen; rather, we believe it’ll be a question of if IOTA will become the internet of things’ cryptocurrency.
IOTA, like Bitcoin, is a distributed ledger. It does not, however, have any fees and does not utilize the blockchain. It utilizes a new technology called ‘Tangle’ instead of blockchain to build the ledger. This system improves as the number of users grows, and it’s built to handle micropayments extremely well. This efficient micropayments system will be utilized to fuel the Internet of Things, according to the plan.
Why IOTA in the Internet of Things?
Blockchain offers undeniable benefit, which is why so many major companies are investing millions of dollars in blockchain research and development. Blockchain-based cryptocurrencies, on the other hand, have significant disadvantages, such as relatively high minimum transaction costs. Most individuals believe that the costs associated with the Internet of Things will be very low. The issue is that micropayment costs should not be greater than the actual payment amount. In this kind of setting, IOTA and its feeless payments may be beneficial.
Gadgets will interact with one another as part of the Internet of Things, and various devices will be asked to fulfill tasks. This necessitates some kind of device-to-device base currency, and IOTA is attempting to solve that issue. IOTA can execute transactions for free because to Tangle technology, and the network becomes stronger as it expands. As a result, Bitcoin is well-suited to solving this issue.
Tangle Technology by IOTA
Tangle has the ability to authenticate and execute transactions in real time. It can accomplish this without using miners, which is incredible (unlike other cryptocurrencies like Bitcoin). This eliminates the requirement for miners to be compensated and therefore eliminates the necessity for a transaction fee. IOTA Tangle does this by establishing a mechanism in which a user validates the prior two transactions by executing a transaction. Before the user may submit their money, the previous transaction must be verified. This implies that the Tangle system becomes more powerful as more people utilize it.
The IOTA Tangle’s method of transaction verification generates a web or tangle of transactions. As a result, they got their name. This is shown in the diagram below:
IOTA has also been designed to be future-proof. There has been a lot of discussion in the cryptocurrency community over whether quantum computing might damage the Bitcoin network. IOTA employs what are known as Winternez hash-based signatures in response to this issue. These signatures, in a nutshell, enable transactions to be transmitted.
Winternez hash-based signatures have been shown to be resistant to quantum computing, which is why the team decided to employ them. Although quantum computing is not now a significant danger to cryptocurrencies, it is generally considered as a hazard that may jeopardize the security of most of them in the future. It’s still unclear if quantum computing will pose a danger to cryptocurrencies in the future. IOTA, on the other hand, has taken no risks and has included quantum proof resistance in its coin.
The Cryptocurrency’s Real-World Applications
Without a question, IOTA has formed some very remarkable collaborations with industry heavyweights. Partnerships with vehicle maker Volkswagen, kitchen products producer Bosch, telecommunications provider Cisco, and other companies are among them. In the conventional business world, Bitcoin is definitely creating ripples. If the cryptocurrency is to be at the vanguard of the Internet of Things movement, this attention is critical.
The fact that IOTA has been able to form relationships with some of the world’s most powerful companies demonstrates that the coin has a real-world application. To put it another way, would Cisco want to collaborate with the cryptocurrency if the idea had no value?
IOTA has established itself as a forerunner in the Internet of Things revolution. In essence, it’s attempting to act as the glue that holds this new economy together. Indeed, if the cryptocurrency and the Internet of Things succeed and become broadly used, everyone may need to hold some IOTA.
Is It Time For The Machines To Take Over?
IOTA and the Internet of Things have the ability to really transform the world. It may be a transformation on a never-before-seen scale, disrupting corporate practices, the legal system, and speeding up automation.
Consider the Roomba, a low-cost robot vacuum cleaner. Consider connecting it to the Internet of Things. There is existing technology that enables devices to detect whether they are malfunctioning and which component of the device is malfunctioning. A Roomba with a broken wheel may detect the need for a wheel replacement. If the Roomba is linked to the Internet of Things, it may also contact a Roomba wheel repair business, place an order for a new wheel, and pay for it using IOTA.
This technical advancement raises the issue of whether robots can engage into legally enforceable transactions such as goods sales. Consider what would happen if someone released a Roomba into the wilds of the United States with a large number of IOTA coins loaded on it. Would this machine be able to take payments from businesses? Technically, no one would own it, and any company that accepted the Roomba’s IOTA would be entering into a contract with a machine. As a result, it seems very likely that the Internet of Things will usher in a new age in which machines play an active role in the economy. This will very certainly compel legal systems to adapt in order to accommodate this growing trend.
Perhaps we don’t want the Internet of Things to become too popular. Most people believe that the Internet of Things has the potential to make our lives simpler in the near term. When we consider this technology in conjunction with artificial intelligence and machine learning, though, isn’t the rise of the machines a very serious threat?
IOTA has already established itself as the most popular cryptocurrency in the Internet of Things. The project is already among the top 10 cryptocurrencies. This is somewhat unsurprising, considering that IOT could be used to link every gadget on the globe, and if IOTA became the money that powered it all, it would literally travel to the moon.
There’s no denying that this is a very ambitious undertaking. It’s also not only about the IOTA technology. To be at the vanguard of the Internet of Things revolution, Bitcoin need large business collaborations to allow widespread adoption. The good news is that the Board of Directors seems to check all of the boxes. Crypto’s 45-person workforce is extremely well-balanced and packed with top performers, according to our research. Engineering, research, relationship formation, ecosystem growth, public relations, business development, and more are all represented on the team. We’ll simply go through the three members of the Board of Directors to keep things simple.
David Snsteb, Co-Chairman and Founder
David is a serial entrepreneur whose goal is to develop technologies that will propel humanity forward. David was the creator and CEO of Stealth before establishing the IOTA project. This was a business whose main goal was to create a low-power CPU for the Internet of Things.
Dominik Schiener, Co-Chairman and Founder
Dominik is another entrepreneur who can’t get enough of it. Fileyy, his initial startup, focused on linking companies with affiliates. Dominik subsequently went on to co-found Bithaus GmbH, a cryptocurrency-to-fiat exchange based in Switzerland. This initiative, unfortunately, did not succeed. Dominik was not discouraged by this failure, and he went on to establish Finhaus, a company dedicated to using blockchain in the financial industry. After that, he joined the IOTA project.
Ralf Rottmann, Ralf Rottmann, Ralf Rottmann, Ralf Rottmann, R
During his twenty-year business career, Ralf has worn many different hats. He’s worked as a head of IT strategy, an editor for tech blogs, and a partner and investor in a business incubator, among other things. Ralf adds a lot of expertise and technical know-how to the IOTA team, and we are certain that he will be a tremendous addition.
IOTA is well suited to powering the Internet of Things. Some of the cryptocurrency’s business relationships are already very remarkable. Perhaps even more intriguing is the announcement by Taipei, Taiwan, that it is transforming into a smart city and has decided to collaborate with cryptocurrencies. Sure, Taipei is a tiny city with a population of about three million people. However, the city may set the standard for how other towns will upgrade to smart city status in the future. As a result, some have speculated that MIOTA may be the world’s power cryptocurrency.
Although it’s tempting to get carried away with IOTA’s promise, the reality is that we’re still a long way from widespread IoT usage. Yes, cryptocurrency has a lot of promise. It must, however, live up to its hype as the next big thing. Until then, the cryptocurrency will be subject to a lot of speculation and its price will likely fluctuate a lot.
It’s also conceivable that IOTA may be replaced by something better or more broadly backed by industry. Obviously, this would be disastrous for the cryptocurrency and its investors if it occurred. The Internet of Things is unquestionably on its way. The fundamental issue is whether or not IOTA will become the Internet of Things’ money.
The IOTA Initial Coin Offering (ICO)
The IOTA Initial Coin Offering (ICO) took place on November 25th, 2015, and raised $434.5k in investment. That isn’t a mistake. The project has shown that becoming a top 10 cryptocurrency does not need tens of millions of dollars in financing.
MIOTA was initially listed on the Bitfinex market in June of 2017. Mayhem ensued, with the cryptocurrency being more widely traded than even Bitcoin.
So, how much did ICO investors pay for their shares? Per token, it’s fractions of a penny. The cryptocurrency is now selling at 98 cents a coin, which still represents a 226,182 percent return for ICO investors. IOTA is the second most lucrative initial coin offering (ICO) in cryptocurrency history.
Should You Put Money Into It?
- The cryptocurrency is in a fantastic position to become the internet of things’ currency. It already has relationships with some of the world’s biggest corporations, and Taipei has said that the cryptocurrency would be used in their future smart city.
- There are no charges for transactions.
- The cryptocurrency was created with the goal of being future-proof. This is shown by its quantum resistance.
- IOTA is a cryptocurrency that does not utilize blockchain technology. Tangle technology may become the new norm when it comes to distributed ledgers in the future.
- The internet of things economy has the potential to be one of the most significant marketplaces in history. The Internet of Things has the potential to link every gadget on the globe. Many conventional methods of doing things are expected to be disrupted, and substantial efficiencies will be created all across the globe as a result of this revolution.
- Although the project is ideally positioned to become the IoT’s money, this is far from certain.
- It’s possible that the internet of things may remain a notion that never really takes off. This would significantly restrict the cryptocurrency’s potential.
- For bitcoin to be truly mass accepted, it has to have a lot more relationships with hardware manufacturers.
- It’s possible that a better solution than IOTA will emerge and become widely accepted. The coin would be rendered outdated as a result of this.
Image courtesy of Coinmarketcap.com.
Is It Too Late For You To Join The Party?
IOTA has provided its ICO investors the second greatest returns in cryptocurrency history at the time of writing. If you had just invested one dollar in the ICO, you would currently be sitting on a $2,216 profit. That’s amazing, but are investors too late to purchase IOTA currency now that such a high return has already been achieved?
In mid-June 2017, the cryptocurrency started trading on exchanges for the first time. IOTA coins were available for 64 cents apiece at the time. The currency still has a reasonable amount of earning potential. Consider that the IOTA price has already reached an all-time high of $5.23 per coin on December 19, 2017, and is now trading for only 96 cents. This implies that if the cryptocurrency rose to its all-time high, investors would make a 450 percent profit today.
The interesting thing about the Internet of Things is that it is still in its infancy. IoT has the potential to link almost every gadget on the planet in the future. IOTA would be the money for this new economy made up of billions of various gadgets, according to the idea. Even if just a portion of this comes true, IOTA currency would undoubtedly be valued much more than its current all-time high.
To summarize, it is not too late to purchase IOTA currency. The Internet of Things is still in its infancy and will most likely require many more years to mature correctly. The TotalCrypto Team believes that cryptocurrency is ideally positioned to play a major role in this new economy and that it will do well throughout the bull market.
IOTA Price Forecast: How Much Higher Could It Go?
Despite the fact that the Internet of Things is still a young and developing industry, Forbes estimates that it is worth $157 billion. According to estimates, the IoT industry would be worth $457 billion by 2020. The interesting thing about the Internet of Things is that its worth is expected to rise every year for the foreseeable future, making it one of the most valuable marketplaces on the planet.
If IOTA succeeds in becoming the Internet of Things’ money, it is not unreasonable to think it will be utilized more than most major currencies. Inevitably, this would result in a huge increase in the price of IOTA.
To reach its full potential, the cryptocurrency must continue to form relationships with IoT hardware makers. The initiative has already formed major agreements with Cisco, Bosch, and Volkswagen, which is excellent news for IOTA investors. If the team can continue to persuade these giants of business to adopt the IOTA token, it will cement its position as the IoT economy’s currency.
Cryptocurrencies are risky investments in which no one knows what the future holds. IOTA, on the other hand, is perhaps the best-positioned cryptocurrency to play a significant part in the IoT economy. This is why we don’t rule out the possibility of an IOTA price increase during the next cryptocurrency bull run.
How to Buy IOTA Cryptocurrency – We Explain Our Two Favorite Methods
There are a plethora of cryptocurrency exchanges from which to select. With so many options, choose which IOTA exchange to utilize may be difficult. Fortunately, we’ve done our research on all of the various IOTA exchanges and can recommend some of the best sites to purchase IOTA currency.
Our first method of purchasing IOTA cryptocurrency is ideal for those who want to purchase using traditional money such as the US dollar. You should be aware that purchasing IOTA with a single account at an exchange or broker is difficult. Instead, our preferred method of purchasing the cryptocurrency is via Coinbase, which allows you to purchase Bitcoin or Ethereum using normal money. After you’ve received your Ethereum or Bitcoin, you may transfer it to another cryptocurrency exchange to trade for IOTA.
Coinbase, we believe, is the simplest method to enter the bitcoin market. This is because to how user-friendly the Coinbase platform and its top-rated mobile app have proven to be.
We understand that some of you who already have Bitcoin or Ethereum are just looking for the best cryptocurrency exchange to purchase IOTA coin. Simply skip over all of the information in this tutorial regarding Coinbase and we’ll teach you how to purchase IOTA on the Binance exchange.
On Coinbase, how can I buy IOTA?
Facts about Coinbase:
- Great Reputation: Coinbase is the most popular method to invest in cryptocurrency in the world. The business was formed in 2012 and is one of the most well-known in the crypto industry.
- Friendly to Newcomers: The user interface is straightforward and uncomplicated. This makes purchasing cryptocurrency a breeze. Coinbase has a low minimum deposit requirement, allowing you to invest in cryptocurrencies with as little as €6.
- Regulated: The exchange is one of the few that follows all rules to the letter.
- Insurance: Coinbase has you covered if you want to be safe. Customers in the United States may cover amounts up to $250,000.
- For US consumers, there are three options for depositing: credit card, bank transfer, and PayPal.
- Bitcoin, Ethereum, Bitcoin Cash, and Litecoin are the cryptos that are now available.
When you spend $100 or more on cryptocurrency with Coinbase, you’ll get a $10 bonus when you sign up with TotalCrypto.
Do you need help setting up your Coinbase account? Just have a look at our guide.
Have you set up a Coinbase account? What Should I Do Next?
After you’ve established your Coinbase account, the following step is to purchase Bitcoin or Ethereum on the exchange. Once you’ve completed this task, you may submit it to an IOTA exchange to purchase your coins.
Using Coinbase To Purchase Bitcoin Or Ethereum Is Simple
If you want to keep your Coinbase costs as low as possible, you may use CoinbasePro to purchase Bitcoin or Ethereum (previously known as GDAX). Although this method is a little more difficult, you may follow all of the steps in our Coinbase tutorial to save money on Bitcoin or Ethereum.
After you’ve purchased your Bitcoin or Ethereum, you’re ready to go on to the next stage.
BTC, ETH, XRP, LTC, BCH, BAT, XLM, ZEC, DAI, ZRX are all available cryptos.
Credit/debit card, bank transfer, and PayPal are all acceptable methods of payment.
Currencies accepted: AUD, GBP, EUR, USD, CAD, SGD
Email and FAQs are available for assistance.
Fees are 4% of the total.
How to Create an IOTA Wallet
Because IOTA does not utilize blockchain and instead relies on its own tangle technology, you’ll need to use a wallet developed especially for IOTA. We suggest that you utilize the official graphical user interface wallet. Do you need assistance in getting it set up? Fortunately, we’ve created a dedicated guide that walks you through each step.
Binance is the most popular IOTA exchange, and here’s how to get started with it.
It’s time to set up your IOTA exchange account now that you’ve got your Bitcoin or Ethereum on Coinbase and your IOTA wallet set up. There is no need to go any farther than the Binance exchange in our opinion. Why do we think Binance is the best place to get IOTA?
It is, after all, the world’s biggest and most popular cryptocurrency exchange at the moment. This is attributable to a number of reasons, including their user-friendly design, cheap fees, and positive reputation. Binance is also a security trailblazer, having become the first exchange to have all of its smart contracts thoroughly examined. Professionalism like this is rare to come by in the cryptocurrency industry, and we believe that this is one of the primary reasons for Binance’s success. Binance also happens to be home to one of the world’s biggest IOTA marketplaces.
Binance comes out on top when all of these criteria are considered, and we believe this makes it a great location to purchase IOTA currency.
Facts about Binance:
- The World’s Largest Cryptocurrency Exchange: Binance boasts the world’s largest crypto trading volume.
- The One-Stop Shop: The exchange offers over 100 different cryptocurrencies.
- Easy to Use: The exchange has received a lot of acclaim for being simple and easy to use.
- Binance has invested in multi-language customer assistance.
Why not purchase IOTA Coin on the world’s most popular cryptocurrency exchange?
Do you want to double-check that your Binance account is set up correctly? Why don’t you have a look at our Binance guide?
How Do You Transfer Money From Coinbase To Binance?
Your Binance account should be ready to use right now. To purchase IOTA, you must first deposit money on Binance. If you have money in another wallet or exchange, you should be aware that the procedure for depositing on Binance is the same. Simply follow the procedures outlined below and your money will be placed on Binance in no time.
How Do You Find Your Binance Deposit Address?
- Check to see whether you’re signed into your exchange account.
- To deposit money, go to “Funds” and click the “Deposit” option.
- Warning: Double-check that you’ve chosen the right coin. You will lose money if you transfer money to a wallet address for another coin. If you have Bitcoin, choose Bitcoin, and if you have Ethereum, choose Ethereum.
- Following that, your Binance deposit address will be created. Simply copy and paste this URL.
Using Coinbase to Send Money
- Select the ‘Accounts’ option after you’ve signed into your Coinbase account.
- Select the coin you want to send and press the send button.
- In the ‘Recipient’ address box, paste your Binance deposit address and the amount you want to transfer to the Binance exchange.
- When you’re ready, click the ‘Continue’ button to complete your purchase. In a few minutes, your money should appear in your Binance account.
Do You Have Money in Another Wallet?
Simply transfer money to your Binance deposit address, and you’ll be able to purchase IOTA in no time.
What Is The Best Way To Buy IOTA On Binance?
It’s now time to purchase your IOTA cryptocurrency. Simply follow the instructions below to get your money in no time.
- Go to the homepage once you’ve signed into your Binance account. After that, you’ll see a variety of various cryptocurrency marketplaces. If you have Bitcoin on Binance, choose ‘BTC Markets,’ and if you have Ethereum, choose ‘ETH Markets.’ Then, in the search box, enter in “IOTA” and choose either the IOTA/ETH or IOTA/BTC market.
- After that, a trade screen will appear. To purchase IOTA at the current market price, go to the ‘Market’ page. Simply enter the amount of coins you want to purchase. You may also opt to purchase coins using a proportion of your Binance balance. To do so, choose the desired percentage. These buttons may be found in the ‘Buy IOTA’ portion of the screen, beneath the ‘Amount’ box.
- Your purchase will be completed after you click the “Buy” button. Following that, your coins will be deposited to your Binance account.
BTC, ETH, XRP, LTC, and 120 more cryptos are available.
Only crypto is accepted as a deposit method.
Cryptocurrencies are the only ones that are accepted.
Support: Submit a ticket through email.
Fees are 0.10 percent of the total.
Should You Withdraw IOTA Coins From Binance, and How Should You Do It?
Now that you know how to purchase IOTA, the next thing to think about is where to keep your tokens. Although we are huge supporters of Binance, we suggest that you remove your coins from the exchange and keep them in your IOTA GUI wallet.
The primary reason to keep your coins off an exchange is to avoid being hacked by the company. The fact is that the number of cryptocurrency exchange hacks is growing all the time. This is somewhat unsurprising, given that these exchanges handle millions of dollars in customer money, making them attractive targets for criminals. You can ensure that you are not reliant on an exchange to keep your bitcoin secure by keeping it yourself. Why not take control of your IOTA and minimize your risks by keeping it in your own wallet?
Simply follow the instructions below to transfer your IOTA coins to your IOTA GUI wallet:
- From your GUI Wallet, copy your public address.
- Check to see whether you’re signed into your Binance account.
- In the top navigation bar, choose “Funds” and then “Withdrawals.”
- From the drop-down menu, choose ‘IOTA.’ Then, in the ‘IOTA Withdrawal Address’ box, enter your wallet public address. After you’ve input the amount of coins you wish to withdraw, click “Submit,” and your coins will be sent to your wallet.
Binance withdrawal fees: If you want to withdraw your coins, you’ll have to pay a fee to the exchange. The price fluctuates on a regular basis. Here you may double-check the charge you’ll have to pay.
That’s all there is to it when it comes to learning how to purchase IOTA. TotalCrypto is really interested in seeing how the Internet of Things develops over the next several years. IOTA is unquestionably positioned to become the IoT crypto. However, we believe they should continue to expand their vast range of IoT hardware vendor relationships. We have no doubt that IOTA will play a major role in the new Internet of Things economy if the project succeeds in collaborating with the leading companies of the new Internet of Things economy.
We believe that the Internet of Things will be the largest market in the world, with almost unlimited possibilities. It’s easy to get carried away with IOTA’s potential. However, it seems that cryptocurrency acceptance will be all or nothing. This implies that bitcoin investors should expect to lose their whole investment. On the other hand, IOTA has the potential to become as ubiquitous as gasoline in a vehicle. This is certainly fantastic news for everyone who has invested in the project.
Will IOTA become the Internet of Things’ currency? We have no idea. We are, nevertheless, enthusiastic about the possibility of IOTA powering one of the world’s fastest-growing marketplaces.
Visit TotalCrypto.io for more information.
1) Are you looking for more exciting cryptos to invest in, such as IOTA? Why not invest in the cryptocurrency that is helping to build the next decentralized internet?
2) Is Artificial Intelligence The Next Big Thing For You? Learn how CND Coin uses it to forecast financial markets.
3) Do you want to find the best cryptocurrency exchange? In our exchange comparison guide, we pit all of the major exchanges against one another.
We’ve compiled a list of useful MIOTA Coin resources below.
What Are the Best Free Wallets?
MIOTA is based on Tangle technology rather than blockchain. This necessitates the use of a Tangle-compatible wallet.
What Are the Best IOTA Tracker Apps?
- Interested in learning more about Blockfolio? Just have a look at our review.
- Delta: Is This the Right Crypto Tracking App for You? Everything You Need To Know Is In Our Detailed Review.
DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.
Tom is a cryptocurrency specialist and investor from Edinburgh, Scotland, who has worked in the industry for over 5 years. He graduated from the University of Nottingham with an MA in diplomacy and a BA in politics, providing him a solid grasp of the social and political ramifications of cryptocurrencies. He is a big supporter of the future use of blockchain technology and believes in long-term initiatives above short-term profits. Tom may be reached at [email protected]
The how to buy iota coin is a step by step guide on how to purchase IOTA. It also includes the best exchanges and wallets that can be used for purchasing IOTA. Reference: is binance a wallet.
Frequently Asked Questions
How do I get IOTA coins?
The easiest way is to buy Bitcoin or Ethereum and then exchange them for IOTA.
How do I trade IOTA?
IOTA is a cryptocurrency that you can trade for other cryptocurrencies or fiat currency. You can buy it on an exchange such as Bitfinex, Binance, or Gemini.
What are the 7 steps to buying Bitcoins?
Here are the 7 steps to buying Bitcoins:
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