How to use iOS 8’s Instant Hotspot to share iPhone’s data connection with your iPad

One of the major features of iOS 8 and OS X Yosemite is Continuity, which includes a number of features and improvements that take iOS-Mac integration to a whole new level.
While OS X Yosemite is not out yet, some of the Continuity features also work well between an iPhone and iPad. One of those features is Instant Hotspot.
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