A new move by Bitpanda will now allow users to make IOTA withdrawals and deposits.
IOTA withdrawals and deposits are now possible on Bitpanda
Bitpanda’s new decision to add IOTA (MIOTA) now allows full withdrawal and deposit functionality. The platform’s decision to include IOTA in its portfolio dates back to June of this year.
However, back then, IOTA was only available within the exchange service’s inner wallet. Now, IOTA news claims that users will be allowed to move their tokens, or withdraw them entirely.
Bitpanda’s recent blog post states that the company is pleased with making this move. Additionally, they used the same blog post to announce their support for IOTA Hub — the project’s latest tech.
We’re happy to announce the full wallet integration of @iotatoken on Bitpanda! We worked closely with the #IOTA Foundation and Bitpanda is one of the first companies to use IOTA Hub. Read more about the integration on the blog: https://t.co/RYsWpDfe2c #bitpanda $MIOTA pic.twitter.com/X4MG2c71Jy
— Bitpanda (@bitpanda) October 2, 2018
IOTA Hub is an exceptional new environment that allows developers to communicate with IOTA protocol in a more efficient way. Bitpanda managed to set it up with the help of IOTA’s own engineering team.
IOTA Foundation’s head engineer, Edward Greve, commented on the partnership by praising the Bitpanda team. He stated that the team is quick and professional and that very little support was needed actually to set up the IOTA Hub. This also means that the Hub itself is easy to understand and use.
While this IOTA news represents a big move for the project, Bitpanda is still only the second exchange to start using IOTA Hub. The first one to integrate it was Upbit, which is already running it.
The part of IOTA community on Reddit was more than curious regarding the implications of the integration. Especially since Bitpanda is still a relatively small exchange, especially when compared to others that are supporting IOTA.
IOTA Hub will make MIOTA easier to use
IOTA is known for being more difficult to use than most other digital assets. It especially poses an issue when it comes to new investors. While some believed that Trinity wallet’s launch might make things easier, this doesn’t seem to be the case. Still, the network’s main goal is to serve the IoT, which is one of the areas where IOTA has had a significant amount of success.
Trinity Desktop v 0.3.6 has been released.
Version 0.3.4 (released Sept 20th, between 11:56 UTC and 13:56 UTC) contained a bug that affected a small number of users.
All desktop users are urged to upgrade as a precaution.https://t.co/Iya9HQJsBP
— IOTA (@iotatoken) September 29, 2018
As for Bitpanda, this move seems to be only a beginning for IOTA Hub integration. IOTA expects that many other exchanges will be drawn to their new technology as well, in due time.
If this happens, it will likely drive IOTA volumes up by a significant amount. Using the Hub will likely make dealing with IOTA significantly easier than it was so far, which will also attract additional investors to the coin.
IOTA already has a massive use case, which has helped it grow already. Its growth has also given other exchanges a real incentive for listing the coin on their platforms. Apart from making partnerships with some of the largest carmakers, IOTA also seems to be ready to enter the insurance industry. With each new step, IOTA demands will increase, and some exchanges have already recognized its potential.
Additionally, with each IOTA news that features a new exchange listing, IOTA is getting closer to being considered, and maybe even actually added on the largest exchanges. Coinbase, for example, is the dream for every cryptocurrency out there, and if IOTA gets listed on it, its value would likely go up by several hundred percents.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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