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Pound sterling (GBP) to IoTeX (IOTX) Instantly

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IOTX IOTX
Buy IoTeX (IOTX)

Purchase IoTeX (IOTX) with Pound sterling (GBP) easily at Switchere and benefit from fast, secure transactions.

About
IoTeX (IOTX)

IoTeX (IOTX) is a decentralized network specifically engineered to power the Internet of Things (IoT) and establish the foundation for MachineFi, an emerging machine-driven economy. This Web3 infrastructure project aims to securely connect real-world devices, such as sensors and smart gadgets, with blockchain applications. At its core, IoTeX features an EVM-compatible Layer 1 blockchain that utilizes a unique Roll-Delegated Proof of Stake (Roll-DPoS) consensus mechanism. This design ensures high scalability, low transaction costs, and robust cryptographic security, which are essential for managing millions of concurrent device interactions.

A key innovation is W3bstream, a decentralized off-chain compute infrastructure that acts as a bridge for real-world data. It processes information from connected devices and triggers on-chain smart contracts, effectively creating a verifiable data oracle for the IoT ecosystem. The native IOTX utility token is integral to the network's operation. It is used for paying gas fees, staking by delegates and voters to secure the blockchain and participate in governance, and for registering and managing decentralized device identities. By enabling trustless device-to-device communication and automation, IoTeX is positioning itself as a foundational platform for the future of the decentralized machine economy.

IoTeX (IOTX)

How to Buy IoTeX (IOTX)

swipe Step-by-step guidance
card Easy credit card payments
btn Streamlined purchase process
  1. Step 1 illustration
    01

    Choose GBP to IOTX Pair

    Select your preferred payment method and enter the amount.

  2. 02

    Enter Your IoTeX Wallet Address

    Provide your IOTX wallet address and proceed with the payment.

  3. 03

    Receive Your IoTeX

    Complete the payment, and your IOTX will be sent to your wallet.

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Frequently asked questions

  • What's the standard process to buy IoTeX (IOTX) with Pound Sterling (GBP)?

    To buy IoTeX (IOTX) with Pound Sterling, you typically need to register on a cryptocurrency exchange that lists the GBP/IOTX pair. The process involves completing KYC/AML compliance by providing identification, then using a UK-friendly fiat on-ramp like a Faster Payments transfer from your bank account to deposit GBP. Once funded, you can execute a trade on the platform's order book to convert your GBP into IOTX digital assets.

  • Why is the GBP/IOTX trading pair significant for accessing the DePIN sector?

    The GBP/IOTX pair provides a direct fiat gateway for UK-based investors to enter the Decentralized Physical Infrastructure Networks (DePIN) sector. It allows for the direct purchase of IOTX, the native token of the IoTeX network, which powers its MachineFi economy. This avoids conversion fees from GBP to other cryptocurrencies like BTC or ETH, streamlining access to an ecosystem focused on integrating real-world data from IoT devices with blockchain technology.

  • After purchasing IOTX with GBP, what is the best way to securely store the tokens?

    For secure storage after a GBP to IOTX transaction, moving your tokens off the exchange is crucial. The native ioPay wallet is highly recommended as it supports all IoTeX features, including IOTX staking and interacting with dApps. Since IoTeX is EVM-compatible, wallets like MetaMask are also an option. For maximum security and control over your private keys, consider a hardware wallet like Ledger or Trezor for long-term storage of your digital assets.

  • What are the common fees associated with converting GBP to IOTX on an exchange?

    When converting Pound Sterling to IoTeX, anticipate several potential fees. First, there might be a deposit fee for your GBP, although Faster Payments transfers are often free on UK-focused platforms. Second, the cryptocurrency exchange will charge a trading fee, typically based on a maker-taker model. Finally, when you move your IOTX to a private digital wallet, you'll incur a network withdrawal fee, which covers the cost of the blockchain transaction.

  • How does IoTeX's W3bstream technology relate to the value of IOTX bought with GBP?

    Purchasing IOTX with GBP grants you a stake in an ecosystem powered by innovative technology like W3bstream. W3bstream is IoTeX's off-chain compute framework designed to process vast amounts of real-world data from IoT devices before it reaches smart contracts. This infrastructure is vital for building scalable DePIN projects and the MachineFi economy, giving the IOTX token fundamental utility for transaction fees, staking, and governance within this data-rich environment.
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