We mentioned in a previous post that we’re working to expand the different ways that people and organizations can engage with the IOTA ecosystem. This requires expanding IOTA’s financial infrastructure to include new participants and other ways of acquiring the IOTA Token.
Today, we are excited to announce another component of our financial infrastructure, by allowing Trinity users to purchase IOTA directly from our wallet through MoonPay.
This is an important step in our ecosystem for a number of reasons:
- It offers IOTA users another FIAT/IOTA onramp.
- It creates a seamless user experience for purchasing the IOTA Token.
- It is a test case to explore how non-traders will acquire IOTA Tokens in the future, without having to go through exchanges.
- It is another step in growing the functionality of the Trinity wallet after V1.
How It Works
Trinity users that wish to buy IOTA directly from the wallet will have the ability to do so through our integration with MoonPay, a FIAT/IOTA onramp that enables purchasing directly from the wallet.
Currently, users can purchase IOTA tokens using a debit or credit card for a fee of (4.5% above €100 with a minimum charge of €4.99). We realize that this may be on the expensive side for some, but we hope the convenience of purchasing IOTA with a credit/debit card outweighs the card processing fees. In the future, users will also be able to link to their bank accounts to purchase with GBP/EUR for a smaller fee. Please note, no KYC is required for purchases below €150, and IOTA does not touch any of the information passed to Moonpay for the KYC process.
We’ve developed an easy to use interface to make the experience as effortless as possible. You can learn more about Moonpay by visiting their website.
Follow these simple steps to get started:
- Update to Trinity 1.2.0+
- Log into Trinity
- Press ‘Buy IOTA’
- Complete the purchase process
- IOTA Tokens are sent directly to the designated wallet address
MoonPay is currently available to members of Europe and Asia, and should be available for US residents in the near future. This is a restriction on Moonpay’s part, unfortunately, but we’ve been told that they are working hard to get IOTA approved for US buying as soon as possible.
All in all, we are extremely happy with this integration. We know that the community has been asking about this for some time. So, what next? Update to the newest version of Trinity (1.2.0) and give it a try!
As always, you can join our Discord to give feedback, comments and join the discussion.