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Convert
Saudi riyal (SAR) to IOST (IOST) Instantly

SAR SAR
IOST IOST
Buy IOST (IOST)

Purchase IOST (IOST) with Saudi riyal (SAR) 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 SAR 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 is the SAR/IOST trading pair and its significance in Saudi Arabia?

    The SAR/IOST pair represents the direct exchange rate between the Saudi Riyal (SAR) and the IOST token. Its significance lies in providing a direct fiat on-ramp for users in Saudi Arabia to acquire this digital asset. This allows them to enter the IOST ecosystem, a high-TPS blockchain designed for enterprise-level decentralized applications (dApps), without needing to first convert SAR into another major currency like USD.

  • What are the typical payment methods for purchasing IOST with Saudi Riyal?

    To buy IOST with SAR, users typically rely on a cryptocurrency exchange that supports Saudi Riyal deposits. Common methods include direct SAR bank transfers from local Saudi banks, and payments using Mada debit or credit cards. All reputable platforms will require KYC/AML compliance before allowing such fiat-to-crypto transactions, ensuring a secure trading environment.

  • How does IOST's Proof of Believability (PoB) consensus impact my digital asset?

    Proof of Believability (PoB) is IOST's unique consensus mechanism that secures the network. While it doesn't directly affect the SAR purchase process, it fundamentally underpins the value and security of your IOST tokens. PoB selects block producers (Servi nodes) based on reputation and contributions, ensuring high transaction throughput and decentralization. This robust architecture makes the network efficient and secure for holding your digital asset and interacting with dApps.

  • After buying IOST with SAR, what are the best practices for storing it securely?

    For long-term holding, it is strongly recommended to move your IOST from the cryptocurrency exchange to a personal digital wallet where you control the private keys. Use a wallet that officially supports the IOST mainnet, such as iWallet or TokenPocket. This practice secures your digital asset against exchange-related risks. When using the wallet, you will also need to manage network resources like iGAS and iRAM to perform blockchain transactions or interact with dApps on the IOST platform.

  • What types of fees are involved when converting SAR to IOST?

    When you purchase IOST with SAR, expect several potential fees. First, the cryptocurrency exchange will charge a trading fee, often structured as a maker/taker fee based on the order book. Second, there may be a deposit fee for funding your account with SAR, which can vary depending on whether you use a bank transfer or a Mada card. Finally, when you withdraw your IOST to a private wallet, there will be a network withdrawal fee charged by the exchange to cover the blockchain transaction cost.
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