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).
Step 2 – Transmit Your Bitcoin (BTC) or Ethereum (ETH) to an Cryptocurrency Exchange Your Bitcoin or Ethereum has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is identical. Polkadot (DOT) is obtainable on Binance, so we're going to use that as an sample. Not sure on how to send Coinbase funds to an Exchange? (Follow this manual) Make sure you have chosen the precise coin you would like to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so on. In the case you're using a decentralized exchange, such as Airswap or DDEX could be different (Follow our manual).
Step 3 – Locate Polkadot (DOT) Once your deposit has been affirmed, you'll immediately have access to your assets and you can start buying and trading. To buy Polkadot (DOT) on Binance, you'll want to hover over the tab which is called “Exchange” and then click on “Basic”. In order to spot Polkadot (DOT), you will need to put the cointype (DOT) into the search-box, which is highlighted in the picture. Be certain of having choosen the correct pairing, we've marked this too. Click on “DOT/BTC” to continue.
Step 4 – Buy Polkadot (DOT) After you have found Polkadot (DOT), you'll be given a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the image). And now we are creating our own Limit Order. The ”Price” field will be filled automatically with the most up-to-date tariff Polkadot (DOT) was traded for. This can be changed to your desired rate. The ”Amount” field is the volumen of DOT you want to purchase. The field with the “Total” tag is the whole price in Bitcoin that you will pay for the whole amount of DOT. When you're happy, make a mouse click on “Buy DOT”. Your order will be filled as soon as a Vendor sells their DOT for the price you offered.
Step 5 – Withdraw Polkadot (DOT) Unless you are frequently trading, best advise is not to keep crypto on an Exchange for an extensive time frame. In order to withdraw your Polkadot (DOT), hover over the ”Funds” tab and mouse click on “Withdraw”. Polkadot (DOT) can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find Polkadot (DOT) by using the given drop-down box. Put into the quantity of Polkadot (DOT) you'd wish to take off. Take into account the demonstrated minimus/fees. Also make sure you have filled your precise withdraw address. If you're glad, click “Submit”. You could be requested for verfication via phone/email before a withdrawal.