How to Buy Polkadot (DOT)

A Step-by-Step-Guide on how to buy Polkadot (DOT)

Step 1 – Signup to Kraken

You'll first need to purchase one of the top-tier coins. Exchanges normally accept either Bitcoin or Ethereum in exchange for Altcoins. Click below for registration and receive BTC (Bitcoin) or ETH (Ethereum).

Binance Signup
Step 2 – Transmit Your BTC (Bitcoin) or ETH (Ethereum) to an Cryptocurrency Exchange

Your Ethereum (ETH) or Bitcoin (BTC) will need to be sent over to an Crypto Trader now. All exchanges have a deposit form that is alike. Polkadot (DOT) is obtainable on Binance, so we're going to use that as an example. Unsure on how to send funds from Coinbase to an Exchange? (Follow this manual)

Make sure you have selected the correct coin you want to deposit.

BTC must be sent to a BTC deposit address, ETH to an Ethereum deposit address, and so forth. If you're using a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our guide).

Step 3 – Locate Polkadot (DOT)

Once your deposit has been approved, you will now have access to your funds and you can commence purchasing and trading. To purchase Polkadot (DOT) on Binance, you'll want to hover over the ”Exchange” tab and then click on “Basic”.

In order to locate Polkadot (DOT), you will need to put the cointype (DOT) into the search-box, which is highlighted in the graphic. Make sure you have choosen the correct pairing, we have marked this also. Click on “DOT/BTC” to advance.

Binance Hot To Buy Polkadot (DOT)
Binance How to Buy (DOT) Polkadot
Step 4 – Acquisition of Polkadot (DOT)

Once you have discovered Polkadot (DOT), you'll be given a Price Chart (in the Center of the image) and some Order Books (on the Left of the picture). And now we're creating our own Limit Order.

The ”Price” field will be automatically filled with the most up-to-date valuation Polkadot (DOT) was sold for. This can be changed to your favoured rate. The ”Amount” field is the volumen of DOT you want to buy. The ”Total” field is the aggregated price in BTC that you'll settle for the whole volumen of DOT.

When you are glad, make a mouse click on “Buy DOT”. Your order will be filled as soon as a Vender sells their DOT for the price you introduced.

Step 5 – Withdraw Polkadot (DOT)

Unless you're frequently trading, best advise is not to keep your crypto coins on an Crypto Exchange for an extended time period. In order to take off your Polkadot (DOT), go to the ”Funds” tab and mouse click on “Withdraw”. Polkadot (DOT) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find Polkadot (DOT) by using the given drop-down box. Enter the amount of Polkadot (DOT) you would like to take off. Don't forget the demonstrated fees/minimums. Also make sure you have filled your correct withdraw address.

If you're satisfied, make a mouse click on “Submit”. You may be requested for email/phone verification before a take off.

Binance Withdraw

Kudos! You have successfully purchased and stored Polkadot (DOT).

That's it!

Take offs from Cryptocurrency Exchange can take between 1 – 30 minutes (depending on network usage). As soon as you've proved your withdrawal using Ethplorer.io or Etherscan.io and the (DOT) Polkadot is safe inside your wallet, you're done.
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