Convert
Thai Baht (THB) to IoTeX (IOTX) Instantly
Purchase IoTeX (IOTX) with Thai Baht (THB) 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.
How to Buy IoTeX (IOTX)
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Frequently asked questions
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What is the THB/IOTX pair and what is its significance for the DePIN sector?
The THB/IOTX pair allows you to directly purchase IoTeX (IOTX) tokens using Thai Baht (THB). Its significance lies in providing a direct fiat on-ramp for Thai users into the IoTeX ecosystem, a leading blockchain platform for Decentralized Physical Infrastructure Networks (DePIN) and MachineFi. This access is crucial for participating in an economy powered by real-world data from IoT devices without first converting THB to another currency like USD. -
What are the typical payment methods on Thai exchanges for buying IOTX with THB?
To purchase IOTX on a regulated Thai cryptocurrency exchange, users typically need to complete KYC/AML compliance. Common payment methods include direct Thai bank transfers, QR code payments (PromptPay), and depositing THB into your exchange wallet. These fiat gateways are designed for fast and secure transactions, allowing for quick entry into the IOTX market. -
What technical features of the IoTeX network, like its Roll-DPoS consensus, are important for a trader to understand?
Understanding IoTeX's core technology is key. Its unique Roll-Delegated Proof of Stake (Roll-DPoS) consensus mechanism enables high scalability and fast transaction finality, which is vital for IoT applications. Furthermore, its W3bstream technology acts as a decentralized off-chain compute infrastructure that connects real-world data from smart devices to on-chain smart contracts. This infrastructure is the foundation of MachineFi, where devices and users can earn from the data they generate. -
What kind of fees should I expect when trading the THB/IOTX pair?
Trading THB for IOTX typically involves two types of fees. First, the cryptocurrency exchange will charge a trading fee, often a small percentage of the transaction value, which can differ for market 'makers' and 'takers'. Second, if you withdraw your IOTX to a private digital wallet, you will pay a network gas fee. This blockchain transaction fee is paid in IOTX and compensates the network validators who secure the blockchain. -
After buying IOTX, what are the best practices for secure storage and staking?
For enhanced security, it's recommended to move your IOTX from the exchange to a self-custody digital wallet like ioPay, where you control the private keys. For long-term holding, a hardware wallet offers the highest level of security. Once in your wallet, you can participate in the IoTeX network's security and governance by staking IOTX. This involves locking your tokens with a network delegate to earn staking rewards, contributing to the Roll-DPoS consensus.