Where and How to Buy Polkadot Coin – Complete Guide

This article will you where and how to buy Polkadot coin.

Polkadot is a shared blockchain protocol that allows multiple transactions to go through and enable different blockchains to work and communicate together.

how to buy polkadot coin
Photo credit: Bankless Times

What is Polkadot Coin?

Polkadot coin (DOT) is the native cryptocurrency of Polkadot, which is a blockchain protocol and network that connects users on a particular blockchain where they can launch and also operate their blockchains. Its platform helps for cross-blockchain transfers of any asset.

List of the Best Exchanges to Buy Polkadot 

If you are interested or want to know how to buy Polkadot coin (DOT) and looking for the best exchange platform, you can consider the following:

  • Uphold

This commission-free trading platform gives users access to and the opportunity to trade on Polkadot (DOT) and various other cryptocurrencies.

  • Binance

Binance is one of the most popular cryptocurrency exchanges in the world. Its lower exchange fee and increased liquidity make it the best platform to buy and trade on Polkadot (DOT).

  • Kraken

This excellent cryptocurrency platform offers users a wide range of assets to trade, including the Polkadot (DOT).

  • Gate.io

This reputable exchange platform offers an easy-to-use interface and access to multiple advanced charts for traders. They have a large number of altcoins, which includes Polkadot (DOT).

  • Kucoin

Kucoin is a well-known name in the cryptocurrency market and is most competitive when it comes to fees. They offer over 300 tokens with Polkadot, one of them.

  • Coinbase

Coinbase is a digital asset platform that offers exchanges of different crypto assets in over 32 countries.

  • Cex.io

This platform offers cryptocurrency trading with instant buy services. It requires that you verify your identity in compliance with their team while making your deposits and withdrawals.

Read also:

Where and How to Buy Vechain – Complete Guide

How to Buy Omax Token in Australia – Complete Guide

How to Buy Songbird Token & Price Prediction 2022 – 2025

The procedure for purchasing the Polkadot coin (DOT) differs from country to country, with some exchanges being accessible in some countries and not in others.

This guideline focuses on purchasing Polkadot in the United States. To buy a Polkadot coin in the US, you will need to open two exchange account, preferably a Coinbase account and a Kraken account.

The Coinbase account is the platform you will deposit the dollar worth of your choice and convert it into Bitcoin (BTC).

Then you will need to transfer the bitcoin (BTC) from your Coinbase account to your Kraken account, where you can then exchange for the Polkadot coin (DOT).

You can deposit the dollar amount of your choice directly to your Kraken account, but it will cost between $20 to $30 due to the payment option, mainly wire transfer.

Using the Coinbase platform, you can deposit funds for free via their ACH transfer, purchase bitcoin and then pay a nominal fee to transfer it to Kraken. This way you will save a lot of money on fees.

Step by Step Guide on How to Buy Polkadot Coin

Polkadot coin (DOT) is a digital asset of the Polkadot blockchain that operates on the Ethereum network. The platform uses its technology to connect blockchains and information between different networks. The steps to purchasing the Polkadot coin (DOT) are:

  • Open an Online Account

To purchase the Polkadot coin (DOT), you would need to open an online account. The most accessible platform for buying and selling Polkadot coins is on Coinbase or Binance.US; creating an account requires you to complete a Know-Your-Customer (KYC) and authenticate your identity tax purposes.

Once you have met all the requirements and your account is approved, you can connect your bank account and start trading.

  • Download a Crypto Wallet

A cryptocurrency wallet is a storage app available on both mobile and desktop that helps you safely store your crypto assets with a set of private keys. It is advisable to have a trusted wallet to ensure your cryptocurrencies are safe.

  • Deposit into Your Online Account

After opening your online account and getting it approved, the next step is to deposit some funds into the account.

  • Make Your Purchase

The next step is to invest in cryptocurrency by placing your buy order through an online account where someone can buy the Polkadot coin.

Watch the video below to know where and how to buy Polkadot coin:

  • Send Your Crypto Asset to Your Wallet

Having confirmed your transaction and purchased the Polkadot coin, you can then transfer the worth of Polkadot from the exchange platform to your crypto wallet.

Polkadot is making a severe wave of the crypto market and gaining massive attention as the ethereum network gains enormous traffic.

This coin has the potential to go further in the future. We hope this article will help make your journey of investing in Polkadot easy and smooth.

For all your questions and recommendation, kindly drop a message in our comment section.


About Author

how to buy polkadot coin
Carlos James
I am a creative writer, researcher and strategic digital marketer who is focused on providing value to the community through my contents and creatives.

Get Latest Market Updates!

Enter your name & email to get started!

We don’t spam! Read our privacy policy for more info.

Sharing is caring...

Leave a Comment