Bitpanda now has full deposit and withdrawal functionality for IOTA (MIOTA), going beyond trading within the exchange service ecosystem. The platform added IOTA to its portfolio in June, but only as an inner wallet. Now, users can choose to withdraw or move the tokens.
“We are very pleased to announce not only withdrawal and deposit functionalities for IOTA on Bitpanda, but also that Bitpanda now officially supports the latest IOTA tech — IOTA Hub,” Bitpanda announced on its blog.
IOTA Hub is an environment giving developers a more accessible mode of communication with the IOTA protocol. Bitpanda collaborated with the IOTA engineering team to set up IOTA Hub.
“It has been a pleasure working together. The Bitpanda team works quickly and professionally. They were able to set up the IOTA Hub integration with very little support, which we hope demonstrates that the Hub itself is easy to use,” commented Edward Greve, head of engineering at IOTA Foundation.
Bitpanda is the second exchange service using IOTA Hub. The IOTA Reddit community was most curious about the technology usage since the European platform is relatively small-scale compared to other IOTA exchanges. Upbit already runs IOTA Hub for deposits and withdrawals.
The IOTA digital asset is significantly harder to use for newcomers even with the launch of the Trinity wallet. However, the network is seen as having long-term promise for serving the Internet of Things (IoT).
The price of MIOTA is currently depressed at around $0.54 after months of little market interest and several larger price shakedowns. MIOTA lost around 3.7% in the past 24 hours but remains much less volatile compared to other digital assets.
Most MIOTA trades are concentrated on Binance, with a 39% prevalence of the USDT pairing. This trading profile makes it possible for concerted pumps or bot activity to have an exaggerated effect on the price.