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Convert
Indian Rupee (INR) to IoTeX (IOTX) Instantly

INR INR
IOTX IOTX
Buy IoTeX (IOTX)

Purchase IoTeX (IOTX) with Indian Rupee (INR) 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
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btn Streamlined purchase process
  1. Step 1 illustration
    01

    Choose INR 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 are the common methods to buy IoTeX (IOTX) with Indian Rupees (INR)?

    To buy the digital asset IoTeX (IOTX) with INR, you typically use a cryptocurrency exchange that serves the Indian market. The most common fiat on-ramp methods include using UPI (Unified Payments Interface), IMPS/NEFT bank transfers, or P2P trading platforms. You will need to complete the exchange's KYC/AML process, linking your Indian bank account to fund your purchase and interact with the INR/IOTX order book.

  • Why is the INR/IOTX trading pair relevant for the Web3 and MachineFi sectors?

    The INR/IOTX pair is crucial as it provides a direct gateway for the vast Indian market to participate in the IoTeX ecosystem, which is a leader in Decentralized Physical Infrastructure Networks (DePIN) and MachineFi. This access enables developers and users in India to invest in and build Web3 applications that connect real-world data from smart devices to the IoTeX blockchain, fostering innovation in the Internet of Things (IoT) space.

  • What are the standard KYC requirements for purchasing IOTX with INR on an exchange?

    For KYC/AML compliance in India, purchasing IOTX with INR on a regulated cryptocurrency exchange typically requires identity verification. Users usually need to submit government-issued documents like a PAN card for tax purposes and an Aadhaar card for proof of address and identity. This secure process is mandatory to enable fiat deposits and withdrawals from your Indian bank account.

  • After buying IOTX with INR, what is the utility of the token within the IoTeX network?

    Once you acquire IOTX, its primary utility within the IoTeX blockchain is multifaceted. You can stake IOTX to help secure the Proof-of-Stake network and earn rewards. The token is also used to pay for gas fees on blockchain transactions, register IoT devices, and participate in the governance of the IoTeX ecosystem. This makes IOTX an integral digital asset for interacting with its MachineFi and DePIN projects.

  • What kind of fees are associated with INR to IOTX transactions via UPI or bank transfer?

    When converting INR to IOTX, several fees may apply. Exchanges often have a deposit fee for adding INR to your account, although some platforms offer free deposits via UPI or IMPS. Additionally, there will be a trading fee (maker or taker fee) when you execute your buy order on the INR/IOTX trading pair. Withdrawal fees for moving your IOTX to a private digital wallet also apply, so it's important to review the fee structure of the platform you choose.
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