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Convert
Korean Won (KRW) to IOST (IOST) Instantly

KRW KRW
IOST IOST
Buy IOST (IOST)

Purchase IOST (IOST) with Korean Won (KRW) easily at Switchere and benefit from fast, secure transactions.

About
IOST (IOST)

IOST (Internet of Services Token) is an enterprise-grade blockchain platform designed to provide a highly scalable, secure, and decentralized network for the development of dApps. It directly addresses the blockchain trilemma by aiming for high throughput without sacrificing security or decentralization. The project stands out as a robust Web3 infrastructure, offering a developer-friendly environment capable of supporting service-oriented ecosystems. Its architecture is built to handle the high transaction volumes required by large-scale commercial applications, positioning it as a significant digital asset for enterprise solutions.

The core of IOST's innovation is its unique consensus mechanism, Proof-of-Believability (PoB). This algorithm operates alongside other proprietary technologies like Efficient Distributed Sharding (EDS) and Micro State Blocks (MSB) to achieve impressive transactions per second (TPS). PoB selects validators based on a believability score, which considers factors like token balance and reputation, ensuring network efficiency and cryptographic security. The native IOST utility token is essential for the ecosystem, used for paying gas fees, staking to contribute to the consensus mechanism, and participating in on-chain governance. This integrated tokenomics model incentivizes network participation and secures the distributed ledger.

IOST (IOST)

How to Buy IOST (IOST)

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

    Choose KRW to IOST Pair

    Select your preferred payment method and enter the amount.

  2. 02

    Enter Your IOST Wallet Address

    Provide your IOST wallet address and proceed with the payment.

  3. 03

    Receive Your IOST

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

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Frequently asked questions

  • What are the common methods to buy IOST with South Korean Won (KRW)?

    The primary method for purchasing IOST with KRW is through major South Korean cryptocurrency exchanges that list the KRW/IOST pair. This process typically involves creating an account, completing mandatory KYC/AML compliance with a real-name verified bank account, and then using a direct KRW bank transfer as a fiat on-ramp to fund your exchange wallet before executing a trade.

  • Why is the KRW/IOST trading pair significant in the South Korean market?

    The KRW/IOST pair offers high liquidity and trading volume within South Korea, allowing local investors direct access to the IOST ecosystem without first converting KRW to another currency like USD or USDT. This direct fiat gateway is crucial for participation in IOST's high-TPS blockchain, known for its Proof-of-Believability (PoB) consensus and its aim to be the 'internet of services' for decentralized applications.

  • What is Proof-of-Believability (PoB) and how does it relate to my IOST digital asset?

    Proof-of-Believability (PoB) is IOST's unique blockchain consensus mechanism. Unlike Proof-of-Work or standard Proof-of-Stake, PoB uses a reputation-based system with 'Servi' nodes to validate transactions. When you acquire IOST, you're holding a stake in a network secured by this efficient, high-throughput protocol, which is designed to prevent centralization and support a large number of transactions per second (TPS) for dApps.

  • Are there specific South Korean financial regulations, like the Travel Rule, that affect KRW to IOST transactions?

    Yes, absolutely. All transactions on regulated South Korean exchanges, including purchasing IOST with KRW, are subject to strict oversight by the Financial Services Commission (FSC). This includes the mandatory implementation of the FATF 'Travel Rule,' which requires exchanges to collect and share originator and beneficiary information for digital asset transfers above a certain threshold, enhancing transparency and preventing illicit activities.

  • What kind of fees should I expect when executing a KRW to IOST trade?

    Typically, you'll encounter two main fees on a South Korean exchange. First, a deposit fee for your KRW bank transfer, which is often very low or free. Second, a trading fee, which is a small percentage of the total trade value charged by the exchange for matching your order on the order book. Note that IOST network 'gas fees' only apply when you move your IOST off the exchange to a private digital wallet.
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